1. Commercial paper ______.5 J4 x9 E& I' T7 R# W7 Y7 K! N
A. is issued mainly by commercial banks/ ?! L& ~; m9 l! u- j
B.can be either short or long-term debt
" Q* ?% Z+ c/ S% B1 R6 o8 E# vC. is most typically issued in very short maturities, such as one or two months
% w/ q1 w6 ~* ?: l2 ID. ought to be considered a capital market instrument
. y3 w4 t" {6 ~9 j7 D3 ?; Y2. The expectations hypothesis assumes that investors regard bonds of different maturities .& F, S5 c7 D% p) m* N7 e: ^5 l
A. as perfect substitutes4 X* e2 H. ?2 }& W7 l0 g/ l
B. as not substitutes at all
6 Q" z9 {0 ~! ^. {- f/ K JC. as substitutes, but not perfect substitutes" t4 Y/ ?& q( ^' l) n' x
D. none of the above
- k$ x( q F5 F+ Z3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.
$ F( z& Z" r, _6 @% W( T3 u$ ^A. 0.05
3 @9 P% p0 I5 F& K2 @6 ]B. 0.5
+ g* {0 ~: j' k1 z1 R2 B! xC. 55 d0 Z4 k) I' @* M) V
D. 50- F4 N% l. ]5 C2 s
4. Liquidity of a business is measured by ______.
4 X& E, |9 ]! G3 b! Y8 k, xA. the rate of return on owner equity
& J/ t' Y2 I& g" UB. the ratio of total revenue to total expenses incurred1 X. n4 z3 b5 Z; c
C. the ratio of current assets to current liabilities+ E6 ~& d$ g6 Q( a# N4 E
D. the ratio of income to costs
# l* V1 n$ K4 }& I, D+ W2 a5. Which of the following is an example of an automatic stabilizer? ______.
( b0 P3 L; c# u. W. ?, n. fA. A change in interest rates
$ G y( D6 _, }. V* m6 K6 e. sB. An increase in government spending
9 s0 |8 E! Q2 j* }3 w) GC. Lowering income taxes2 h0 J. }* ~5 ]
D. Unemployment insurance
( f& p% I" J4 k- D6. Which of the following definitions fits depreciation? .: ~! {% `' u7 p7 H z4 z, w# N5 p
A. Allocation of the asset's market value to expense over its useful life
, G7 L/ j4 W' G8 I% bB. Allocation of the asset's cost to expense over its useful life
. k6 j F3 Y! R% w9 T0 l0 R& ^9 HC. Decreases in the asset's market value over its useful life; X7 I$ [. _ q* O3 q
D. Increases in the fund set aside to replace the asset when it is worn out0 l- q; [4 h$ e% i
7. In the balance of payments accounts, ______ are unilateral transfers.# s7 w" I) z: R- E
A. direct investments in another nation's businesses- A$ @& D, L" j+ @ K# f4 b
B. international transactions in securities with maturities greater than one year
3 F/ E& V& ^' V" T+ fC. international transactions of securities with maturities of less than one year
; e7 X* e& C9 _) QD. gifts and grants5 h0 m) W. L, t9 M
8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .4 C; S& ^* l: S# o3 e8 ~1 t
A. a money market mutual fund$ h9 q, S, e% x7 f% @' K
B. a time deposit
7 j, s A& o* pC. Keogh Plan% R7 p% K8 N+ P' e" o5 [+ f/ ~
D. a money market deposit account& X7 V8 I8 {$ v- c( b. n# E
9. The central problem in economics is that of______.
" j" b Y: U" D) o( l" gA. comparing the success of command versus market economies
5 k9 O% Z" H* n% A% k% T; I- dB. guaranteeing that production occurs in the most efficient manner& b6 k8 P9 L, t# n- V
C. guaranteeing a minimum level of income for every citizen; o) {, K7 L& K- z+ Y6 M. B
D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible
& B3 _8 M0 p, k7 A* B7 b: Z. K6 b- X& i; a$ H
10. Which of the following is the most accurate measure of a bond's interest rates? ______.4 H4 N+ z9 n7 p& F* b
A. Coupon rate
7 w' p' [3 p) @, R& Y, zB. Yield to maturity: x) v9 |2 u+ l U3 t' }* D
C. Current yield
* \7 z/ T3 ^0 j1 BD. Discount yield! I0 S4 ?5 e, E1 F' Q
11. Which of the following is a determinant of asset demand? ______.
' u3 a) x# ^, N( qA. Expected return* O2 ?' o C6 D: J
B. Risk
% P8 Z2 W; u3 u0 K( q& V! PC. Liquidity1 d# y5 l4 X% ^: i3 R1 `- G
D. All of the above/ N8 r& s) Y7 m( U
12. Which of the following items are reported as a current liability on the balance sheet? ____.
, V. x5 Q* c# a5 c! T) UA. Short-term notes payable0 c1 f* m" D7 G q% r8 }
B. Accrued payroll taxes2 n% d% u6 L9 X+ r$ u0 ^+ c
C. Estimated warranties' ?# o5 W+ N0 }
D. All of the above
4 Z; e6 o% P+ T9 e# }- ^5 m13. Which of the following is not true of fiscal policy? ______.# B9 c1 |# }4 t( L+ Y
A. Time lags occur with fiscal policy.) {/ t/ a% ^; ?: Z) I7 W6 w/ r
B. Automatic stabilizers help the economy., M& l' R8 b. v @3 F# ]
C. "Crowding out" is not a problem of fiscal policy. x, f0 q0 Z1 u3 t
D. None of the above.
% K/ m' v, O4 a14. What distinguishes the mortgage markets from other capital markets? ______.1 J q' u; I' P8 m& K
A. Securities in the mortgage markets are collateralized by real estate! B% l0 h6 C2 V
B. The mortgage markets usually involve long-term funds8 j4 w! p4 K* `6 H
C. Borrowers in the mortgage markets include individuals and businesses
+ A2 H) s% c4 J# O% ND. All of the above
" J& |9 ^# r' p' n G m. c8 j; K, ]15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______.
; c8 ~4 f2 c% y- t- IA. withdrawal0 t3 x f5 z6 e0 j0 U0 s. v
B. liquidation6 B, I- V7 J) a
C. acquisition
! V9 I, ^- ?5 @D. dissolution
& P- _# J: t; w5 r* s16. When an investor is buying stock as an investment, the value of most direct concern is .
5 l' P) Y& X1 Y8 F" Q, IA. par value
0 t$ P7 ~: H% y, p" u: {B. liquidation value8 K& j& g! u$ |5 y g: I
C. market value' D( f" N1 @$ B5 u
D. book value7 E1 b, |: x% @7 A2 d
17. Autonomous transactions are ______.
8 n. b; ~+ h* j+ I. Y7 u8 WA. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
_. I; j9 \. @4 l# Z0 @- RB. transactions that are not undertaken in the pursuit of commercial profit
7 J( k7 h% B3 H8 RC. transactions undertaken for normal commercial motives
' g& z. h! e s' i- S1 a) Y0 sD. none of the above
/ _% @( S0 S2 M: ]3 W9 j# d' t3 f6 I# j8 t2 w, R. }
18. If taxes decrease, which of the following correctly describes the effects? Disposable income______ consumption ______, and savings . |
发表于 2012-8-16 08:05:44
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