1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______.
1 c! t4 Q0 W* S. r& s& BA. his voting rights are considered more important
2 Q& P' G* f# k, d, f! ^9 UB. he has the greater right in choosing the board of directors: s# g- u% h6 ]2 z
C. he receives his dividend before the ordinary shareholder
1 n- Z' y# {5 h% d" rD. he has the right to buy ordinary shares more cheaply1 k2 z5 m0 L" d
2. What are the two major accounts in the balance of payments? ______.
. U: f. c2 i" r7 ?1 kA. Current account and fixed account
! `9 D- n. Q* _0 qB. Capital account and deposit account
; ]4 ]- W& E7 m: t* T6 e. mC. Capital account and current account
6 T0 z2 R( N5 ?+ |7 s- i6 qD. The account recording transfer payment and the account including an offsetting transaction& t& D) p7 E% D3 o+ F
3. Which of the following is not a financial instrument? ______.; I9 f' d' N3 F {. m: w# l
A. Treasury bills' M8 N( `0 L/ @5 z; d5 z) a
B. Real estate
) e$ @5 e! w) Q2 V/ W/ ^' DC. Mortgages
* z( E, S" r: q9 QD. Stocks" P L+ `) C" U" G) v
4. The yield to maturity on a bond is ______.: f; _0 j* K- M# a
A. below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond sells at a premium
" x( t% y2 z- d4 x4 `1 z8 r6 JB. the discount rate that set the present value of the payments equal to the bond price
4 y+ X; j5 D3 {; `C. the current yield plus the average annual capital gain rate: X5 \" U0 ]# c
D. based on the assumption that any payments received are reinvested at the coupon rate
% O9 P( M: n7 j4 V( R5. The annual interest paid on a bond relative to its prevailing market price is called its ______.
1 ^7 D0 x% C! G" nA. promised yield. @9 Q8 }' }& u- g
B. yield to maturity7 Z3 \0 v( `0 F& i% Q X
C. coupon rate
- F M2 `2 R1 wD. current yield
& C# K- D4 ]$ W# K5 Q$ i6. Rapid increases in the price level during periods of recession or high unemployment are known as .
/ y# @& o6 K- T+ [; [. eA. stagnation
+ d% I2 r6 I5 \/ K* uB. stagflation
! h$ F6 N6 i$ o" n: @2 d+ W8 AC. slump7 i! B3 J4 b: w4 X! W' k2 r( U
D. inflation
' m( r3 A! t, n ~3 `7. A person who left his/her job to look for another job would be classified as ______.. p4 v7 f# z! G# u
A. structurally unemployed9 [# V( D% L1 m, T5 _" J; j# R
B. cyclically unemployed
* c* {* H: v2 o% B6 ^7 o! eC. frictionally unemployed
6 X( \1 ^9 x i: A( _; qD. no longer in the labor force! z2 J8 T+ G& G+ g4 L9 Y6 f
8. Which of the following is not included in a statement of owner's equity? ______.来源:' L! v9 ]$ D b: ^2 L
A. Net income0 [* M0 y! K" @3 ^! X( Y
B. Unearned revenue
$ C$ ~4 B% L+ Q! T5 r& Z" DC. Dividend
1 v7 {5 L! v5 p" D& h% mD. Retained earning
7 [- B% y1 e7 \$ F# J! O4 Y6 p2 m9. If the Federal Reserve sells bonds and Congress cuts taxes and increases government spending,then the U.S. government has ______.
; H( h- w9 Z$ [: E: \6 yA. expansionary monetary policy and contractionary fiscal policy5 A+ r9 l6 x% e) s8 z, W6 E
B. contractionary monetary policy and expansionary fiscal policy$ g& f( L/ s3 T& N2 I* v2 y$ x
C. expansionary monetary policy and expansionary fiscal policy/ l' h8 ~6 }1 o( ]5 r
D. ontractionary monetary policy and contractionary fiscal policy ' E+ A4 e v; t% B1 w s
! a! e6 N) {8 u! c3 T10. As the real wage rises, the substitution effect causes the worker to consume more ______ and less ______.
& u* K+ c( t# d* B+ B" t4 [6 IA. leisure...work7 Z9 y. q# a3 t5 P
B. work...leisure2 N3 u( f; I( O2 w9 }( Z3 u, i
C. work...of all of other goods
- s; ?6 C z4 l- a8 ?D. leisure...of all other goods5 |; E# B3 j0 k$ o* c+ B+ d H
11. The federal funds rate is the interest rate ______.
, B: A7 T( z0 @A. on overnight loans of reserves between banks8 ]% p2 J# X" b5 r) V
B. the government pays when borrowing from banks
! q& A4 p! g7 e3 a( aC. on government debt
C; T7 U5 A: A" {) W ~D. both A and B
0 ]1 z6 r1 ^+ Q, q5 K% |12. A consumer's indifference curve shows ______.6 A1 g7 w1 D+ Q0 c: \4 {( c
A. all combinations of two products that a consumer can use) J7 h: i$ v. L- m/ E9 n; j. E
B. all combinations of two products that yield the same total satisfaction to the consumer9 {3 W2 B$ D: d
C. all combinations of two goods that the consumer can purchase with disposable persona income
7 O( [) z: s# J9 s4 oD. equal income for consumption- r! E; o0 b) b
13. The value of any investment is found by computing ______.: m+ d! m# a7 I7 g
A. the future value of all future expenses9 x. n$ Z8 _, e# ^8 L; y: e& P
B. the future value of all sales2 D* n+ J/ W- L0 A% G% ~* Q
C. the present value of all future liabilities9 y' Z, f0 S- x7 ~
D. the present value of all cash flows3 i* ^9 {/ i/ U: ?' |+ ?
14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it .
6 F+ ^# W; e1 o7 @6 ^A. always consists of central-bank liabilities: |& T$ S6 D- j7 D3 |! ?
B. always consists of assets that can serve as commercial bank cash reserves* v, ~9 ?4 B0 \/ i" r' ~7 n
C. always consists of gold coin: s) V8 H4 Z( B" k8 x$ G6 J; @7 @
D. must be a "fiat" money
& k$ ]! f' H! [$ v+ O, T15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.
1 h6 h; a/ `/ X7 ~3 PA. chronological
( j9 p) I Z$ X5 [" _B. term S Q+ X @( A5 v% g7 c& K' Y
C. risk1 e! M7 |$ x, L; _0 a2 X
D. liquidity
& a7 w8 A. x( P! p3 C6 H& |& e+ k/ r16. An example of an investment pool is ______.% h$ z& {" |. M7 h6 h' `
A. a savings and loan association
2 V9 g- v# k7 z: a( g+ eB. a life insurance company3 S6 t' j- e! B# U1 J
C. a finance company
X. W4 {/ N4 H! e' d8 V7 U! r$ iD. a mutual fund
1 L* a) U* f5 E$ l$ i& m17. Sustained downward movements in the business cycle are referred to as ______.
% C6 A/ E. a9 K3 l2 CA. recessions
3 y4 b7 H: e# g8 U0 JB. economic recoveries C1 `3 s6 f: g
C. inflation
; A/ t: U# ` r& ND. expansions# U. e0 Z) `* k3 ]1 V: l0 z& S
! g3 U% v+ b& {, n18. _____ offers a wide spectrum of personal services to wealthy clients who may have little knowledge of how to handle their own financial affairs or who are too busy. |