练习：ChoosetheBestAnswer[2]

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　　1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______.
  q7 S' H6 V6 X$ b5 T　　A. his voting rights are considered more important
　　B. he has the greater right in choosing the board of directors
　　C. he receives his dividend before the ordinary shareholder
; T3 R: ?8 ~2 a6 p' Z5 l　　D. he has the right to buy ordinary shares more cheaply
　　2. What are the two major accounts in the balance of payments______.
　　A. Current account and fixed account
4 N9 D- \  \5 b2 W　　B. Capital account and deposit account
　　C. Capital account and current account
　　D. The account recording transfer payment and the account including an offsetting transaction
' g- a7 R1 P! X3 h　　3. Which of the following is not a financial instrument______.
　　A. Treasury bills
2 f$ ~3 n$ B# Z' ^6 @) \+ R, V7 i　　B. Real estate
  Q5 W5 Y, i1 ?7 W, R　　C. Mortgages
  |; [; B# y' i3 L* D$ [& N　　D. Stocks
- ~& S! f5 V6 Q　　4. The yield to maturity on a bond is ______.
9 f/ c* E# Q- n! B4 C　　A. below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond sells at a premium
　　B. the discount rate that set the present value of the payments equal to the bond price
6 q5 f9 H/ q3 m　　C. the current yield plus the average annual capital gain rate
$ H% p" R" l: K, a+ k( t5 W& a3 w3 U　　D. based on the assumption that any payments received are reinvested at the coupon rate
　　5. The annual interest paid on a bond relative to its prevailing market price is called its ______.
. Z8 I4 e6 x8 f% ~　　A. promised yield
　　B. yield to maturity
( ^3 k# G% j9 Q' d& i　　C. coupon rate
3 g2 G( A' S/ |0 C* s　　D. current yield
" Q/ p+ ~/ {! X/ I4 {　　6. Rapid increases in the price level during periods of recession or high unemployment are known as .
　　A. stagnation
0 e2 r* L- ]1 C- Z  G4 w　　B. stagflation
! W4 K8 m7 }: [  s* ~8 {2 w　　C. slump
6 n; A; h- N  `+ F4 J8 j　　D. inflation
　　7. A person who left his/her job to look for another job would be classified as ______.
　　A. structurally unemployed
4 W. F8 r( L- E2 J　　B. cyclically unemployed
　　C. frictionally unemployed
* I$ v4 V# t  U# U9 b8 H　　D. no longer in the labor force
9 |9 g/ M$ `& R" ^: D2 g, z" O　　8. Which of the following is not included in a statement of owner's equity______.
, `; q" K' {! p, f. y/ S8 H　　A. Net income
　　B. Unearned revenue
　　C. Dividend
' |5 A% x# P2 a( t' t  m& e　　D. Retained earning
　　9. If the Federal Reserve sells bonds and Congress cuts taxes and increases government spending,then the U.S. government has ______.
　　A. expansionary monetary policy and contractionary fiscal policy
　　B. contractionary monetary policy and expansionary fiscal policy
' M; T0 i: m/ T2 a　　C. expansionary monetary policy and expansionary fiscal policy
0 c/ z6 h1 k% l! @" J/ p, e　　D. ontractionary monetary policy and contractionary fiscal policy
　　10. As the real wage rises, the substitution effect causes the worker to consume more ______ and less ______.
/ b/ U2 f( a# w& C6 D$ I0 S　　A. leisure... work
　　B. work... leisure
! _& S) a+ t2 V4 R; y: o' c9 m* i　　C. work.. .of all of other goods
  p" X! f6 h* f5 p　　D. leisure.. .of all other goods
　　11. The federal funds rate is the interest rate ______.
' j8 n& b; Z& m* q# x8 q0 L$ R　　A. on overnight loans of reserves between banks
' D; {+ e( K& C　　B. the government pays when borrowing from banks
0 R  m4 L0 B* I3 z/ c: U/ w　　C. on government debt
+ `  Y5 `: S9 ?8 @0 r! u4 X　　D. both A and B
3 f+ ]. z; I' |& V0 u/ S" p# i　　12. A consumer's indifference curve shows ______.
7 y3 x6 I7 G2 K5 U$ p　　A. all combinations of two products that a consumer can use
　　B. all combinations of two products that yield the same total satisfaction to the consumer
# m' n9 N  b/ i7 n- R　　C. all combinations of two goods that the consumer can purchase with disposable persona income
- E( g. U2 H6 E1 M　　D. equal income for consumption
　　13. The value of any investment is found by computing ______.
# s: r9 i+ _0 q; F　　A. the future value of all future expenses
　　B. the future value of all sales
　　C. the present value of all future liabilities
2 R( ?* a6 a6 Q/ Y　　D. the present value of all cash flows
　　14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it .
6 p* V) v. p8 Y& f　　A. always consists of central-bank liabilities
5 E8 l2 }2 N2 R/ \　　B. always consists of assets that can serve as commercial bank cash reserves
7 Z) ^, ]: n/ s0 d/ V$ T　　C. always consists of gold coin
# B; }9 J6 m- r) |　　D. must be a "fiat" money
　　15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.
　　A. chronological
　　B. term
　　C. risk
　　D. liquidity
　　16. An example of an investment pool is ______.
　　A. a savings and loan association
+ c# ?. q: L# G( ~9 G" ~　　B. a life insurance company
　　C. a finance company
　　D. a mutual fund
( r9 b; X  E5 [3 ~% }! Y4 M　　17. Sustained downward movements in the business cycle are referred to as ______.
　　A. recessions

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　　B. economic recoveries
3 Q/ J" D3 O3 A- B' @　　C. inflation
　　D. expansions
7 {2 X* W; p) ?1 B2 k* L　　18. _____ 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.
4 u6 p) V% [9 B  T) a! n5 @　　A. A private bank
' L4 w% m  O- F2 r8 j　　B. Private banking
, {- \; Q* y# p0 g7 D　　C. Personal banking
　　D. Retail banking
　　19. Which of the following can be described as involving direct finance______.
5 w( H# F7 c6 l+ ]. j! x　　A. A pension fund manager buys a short-term corporate security in the secondary market
　　B. People buy shares in a mutual fund
2 f1 _8 O) L3 K3 ?1 A　　C. A corporation issues new shares of stock
6 S* R9 o* T+ C" Y- s　　D. An insurance company buys shares of common stock in the over-the-counter markets.
　　20. A call option gives the owner the right to ______.
　　A. sell the underlying asset at a fixed price
　　B. buy the underlying asset at a fixed price
　　C. convert the underlying asset at a fixed price
4 K* z  `0 z9 C　　D. take delivery of the underlying asset at a fixed price