11. If a nation's interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to ______ under a system of exchange rates.0 ?8 w( C9 I* S: V3 t. U& K
A. appreciate... floating z$ X p7 v# x/ ]! a
B. depreciate...floating
; f7 Y+ ^- m9 \C. appreciate... fixed * J! |6 q4 ^: C2 q+ g0 a8 p' e9 N
D. depreciate... fixed/ J/ }2 f6 e! j1 t9 |! a
7 {! s% \' S" D2 z12. Which of the following is true of a company's balance sheet? ______.
, [- j: u: R' E3 E+ ~8 JA. It displays sources and uses of cash for the period: W( a8 j4 @3 d& B
B. It is unnecessary if both an income statement and a statement of cash flows are available$ e; C# M- N. \+ W: b7 G$ h
C. It is a separate representation of the company's revenue and expense transactions for the year3 S8 ]$ H, U, r4 [# \
D. It is an expansion of the basic accounting equation of Assets=Liabilities+Owner's Equity8 u4 h& q6 |5 ~
2 G, K; _* `: ]. }
13. When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits, there is a ______ demand for dollar deposits and a correspondingly ______ demand for foreign deposits.2 ?/ \% V; U& M
A. higher... higher
- b# q" _2 o& h! T" nB. lower... higher
) H( k w0 X/ w5 ~: fC. higher... lower 6 o- r l! |6 X y/ O0 E) e
D. lower...lower
: V& N9 F: Z0 b( s( G( v7 L8 t4 m! R
14. Velocity is the ______.
1 e0 S: y5 v' \+ X3 `, |; P) ^9 vA. inverse of GNP5 V: ?7 |4 B" J' \; j0 S
B. speed at which checking accounts are converted into cash) G; w: I& r; A( @
C. relationship between the price level and the money supply& K4 }9 ^6 z* I6 i
D. rate at which money turns over& D5 \( y7 y. s) K- V. l) U
, P" B$ b: r0 A' I# m" D15. Assume that of your $10 000 portfolio, you invest $9 000 in Stock X and $1 000 in Stock Y. What is the expected return on your portfolio? ______.
, Q* n4 W! ~( _: x1 RA. 18%
; Z! {4 Y# w5 E; R5 QB. 20%
. O6 ^% [, X3 u1 g) |8 J! W+ ^ eC. 19% 1 F% I9 T9 j; G# E
D. 3%. U. a3 O" P. R9 i+ C
8 y, x, _1 J1 N7 m }: A
16. Which of the following would you expect to find in a correctly prepared income statement? .
8 f5 X1 W U4 ~A. Cash balance at the end of the period
' @0 z0 N3 d" L" \$ l7 U" T5 @B. Expenses incurred during the period to earn revenues ; [6 O# q1 n3 ]$ Y8 R
C. Contributions by the owner during the period
( L4 y& {, Q/ Z4 |D. The reported company's financial position at a specific date7 J- K: B, Q% S/ `9 R
" Z7 `7 A; d$ m3 J
17. The concept of beta is most closely associated with ______.
& K5 n3 }7 T- k4 c6 ]% K8 PA. correlation coefficient ! {- G% W' Z3 k, [' `
B. the capital asset pricing model2 `' }9 j% J5 \' ]* s- S
C. nonsystematic risk
7 U9 n+ P: V/ ^D. mean-variance analysis; d% b- m% e K( T' e$ P5 V
\0 d4 u) P2 t( A
18. The velocity of money for a given year can be calculated by ______.
A n/ v& ^$ i! }3 Y8 Z! `, e8 }A. dividing GNP by the money supply
! |. Y/ f8 {- t$ F+ y8 _B. dividing aggregate supply by aggregate demand& ^. o9 v( |$ ~3 q7 {3 I7 |
C. dividing the price level by the money supply9 U7 x% f+ E* N# e4 `, s! A# V/ o
D. multiplying the price level by total output
; h( w9 L7 }3 j* n
3 J" E t- e7 z6 J19. The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______.
$ J. \" s$ ^5 @& rA. the price levels of the two countries
- @" A6 ^# _8 S( U2 P) aB. the current account balances of the two countries
5 a: J7 l7 s$ `6 EC. the fiscal policies of the two countries
A" u, h" v( i. [2 F) p c$ I6 cD. the trade balances of the two countries
6 B+ ^) L8 L4 K2 U8 N$ z) d$ r4 p7 j5 n& p4 f& S
20. Before issuing a credit, it is important for the issuing bank ______.) v# M! q) D0 a3 N: W5 z
A. to make certain of the importer's creditworthiness
! A9 |3 J) Z( a4 DB. to go through the contract terms) r! G' g& @* y! ~+ j1 A* b
C. to have a thorough understanding of the exporter8 P" q7 p7 T0 r0 R6 t/ h
D. all of the above
% y, F. F) o8 X" e3 D答案:11.B 12.D 13.C 14.D 15.C 16.B 17.B 18.A 19.A 20.A 8 a" {# X" i5 L4 @. z
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