11. The value of money varies _____.
4 V- Y7 F. H2 a6 {6 N- y& b4 G8 g, `) {A. directly with the unemployment rate 2 t) P7 \" p9 z$ |' d: v, R
B. directly with the price level4 h6 D6 c3 L7 D3 T+ e/ K& {
C. inversely with the unemployment
& o' t& U, M+ a oD. inversely with the price level% t3 y: }4 s8 j! O& e
; b6 Z: N( N0 r- Y/ `, b* n; [/ U
12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______., W q7 ?# |4 d# h
A. the dollar has depreciated relative to the yen
9 j: O$ l; f" E5 y5 J& [/ r1 l" iB. the dollar can now purchase more yen / |( L! N9 p( w7 Z- b3 Q
C. the yen can now purchase more dollars. x$ m' C: V, Q# j6 A8 e- L! r
D. the US trade balance with the Japanese economy has improved7 }" ?/ K/ a0 p4 Y
) ~2 e4 v& f7 i( ]. ?2 T13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.
" _# ?$ k. g5 j u4 n% VA. price feedback theory
+ z" R: o; I! l7 X* sB. trade feedback theory
3 d5 E8 t, V% E/ N% G/ lC. purchasing power parity theory
& ]/ b' ]& d( a' n/ G% D; g& oD. J-curve theory" \1 \. p! p7 ]+ ?2 y- B
, W" G- c, l3 {5 a
14. According to the optimal portfolio theory, where should portfolios lie? ______.3 m$ Z6 p1 d. ]# m+ m
A. On the efficient frontier * L. n% { n$ s% }1 q
B. Above the efficient frontier
/ k0 z) t4 `; _( n ~C. Under the efficient frontier ~1 y3 J# |$ @$ w/ I& F( t
D. Anywhere, as long as the portfolio is diversified& u P( h0 z7 W
$ A" H) Q1 w) @& V& L; p15. Which of the following is not a user of management accounting information? ______.
6 e0 F, ]$ ~ h/ U# G1 BA. Store manager , S: G1 }" P1 h8 U4 [* z
B. Creditor
4 z8 T3 ]9 k+ o3 I/ i( H. |% uC. CEO
5 S- q1 U0 ]4 p* @- j% |D. CFO2 M* ? e0 ^3 g" I0 b* U/ d! A
+ \9 s/ T" K3 i( n9 h" ~; D
16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.
+ {, I( F4 F. z; B: LMarket Condition7 h9 F+ S1 I1 D F* N! h
bear Normal Bull; H$ x) ?4 I! c! h
Probability 02 0.3 05
8 ~) w% `: q# I6 H2 {% A3 yRate of return —25% 10% 24%' ?$ J- s- T3 {* ~% I
A. 4% # Q% ]5 A2 q2 }% r% }9 N
B. 10%0 _9 J# i+ W) E0 d: K
C. 20% 9 I2 W! W# g' v
D. 25%
( T7 t1 ^0 m1 J: h; R/ u. o5 ]6 ~
Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent)." `" ?$ k) {" d1 _) R& z( j
Bear Market Normal Market Bull Market$ q/ k h& a4 `. D' [1 [6 j5 F5 O2 u
Probability 0.2 0.5 0.37 |& `7 t* F: g/ F% O
Stock X_ -20% 18% 50%" V' k0 T h- Q0 G, Y% B) L1 ]% o
Stock Y -15% 20% 10%
' L ~6 y7 g9 {) n& M X1 S9 B, T1 {/ }
) |6 F/ s# M! d) I3 c& e17. Financial markets serve to channel funds from ______.) {, G2 ]2 }+ p0 t
A. the government to contractors
% C b% ?# N7 t& q7 x5 b% z8 LB. investors to consumers) _% Y7 ^. c% m( t( ]; M
C. consumers to producers 5 h1 N7 `) ]4 n
D. savers to investors ' s5 A" d/ v0 ~1 U: s5 N, p* g$ b
& W- |( n/ O4 ?- H& k1 U! W( G
18. The agreements that were reached at the Bretton Woods conference in 1944 established a system ." H6 W/ t: \, H5 i7 L- k6 p a2 o
A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency
3 z. I2 [* F- B% [B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations; J% l' }, ]) \( ~+ x6 g% t
C. that prohibited governments from intervening in the foreign exchange markets
% u' K; ~( V# p4 mD. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading* s ~6 Z8 w, K A. K0 \
/ T& R* ^1 b. y) @% H) K) N' ^
19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .- O. ]' `' j* y- O5 q
A. Assets are originally recorded in accounting records at their cost to the business entity
( ]4 |" W$ g* e/ vB. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion1 }! p ]' N/ N. q4 ^
C. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices1 h$ Z; E) o4 T# @: b
D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions5 T ?" ?2 K7 t$ D4 U0 [
! v2 V: L+ r7 B8 L4 R6 `% f7 @
20. A fiscal expansion in the UK ______ the pound sterling.
' `/ H: B* ?- I3 X& C# W) Y7 AA. tends to appreciate + V8 T3 q& \! P9 }* `: e, [
B. tends to depreciate& h% ?) R' |) U( v7 i/ W
C. does not affect the price of 3 {! d9 B" M+ O0 u: {
D. has no predictable effect on the price of
0 z+ A2 h1 \/ _0 E+ Q3 F( ?* p% k& ~# f+ B: G& U0 s! n) [
答案:- s I! }+ {1 j% [
1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B 0 T, Y l k0 d9 Q& [* K8 D( L3 H
11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A3 [8 j/ R0 S% h2 z4 T
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