11. The value of money varies _____.
1 Z* I1 t8 R) w2 v A. directly with the unemployment rate
1 ^; R% R0 ^; j B. directly with the price level
3 e( D) \5 g- s! ^+ H: z C. inversely with the unemployment c9 A- |8 |* B
D. inversely with the price level% v; p. n% O* c) p
12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______." b( Z0 A9 p$ `( P! V
A. the dollar has depreciated relative to the yen2 m$ w! ~6 G* ]# x" e; B5 Y
B. the dollar can now purchase more yen
3 @/ c% `, N1 a" e3 A4 s. V C. the yen can now purchase more dollars; W1 t% z; Y! x$ R* E( T) _
D. the US trade balance with the Japanese economy has improved& V w- J$ l/ g7 C
13. 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 ______.
/ s5 ~; V: }- j7 P! G s0 S3 y) E A. price feedback theory
6 ]+ `! Y. s2 j/ U d f' B, Z# M B. trade feedback theory
% `$ w, z6 K6 b8 a8 @" e/ l3 N C. purchasing power parity theory0 \ x) r+ d% V3 \8 ?( M8 d
D. J-curve theory2 }: m q, p0 {7 O
14. According to the optimal portfolio theory, where should portfolios lie? ______.8 A0 c/ e8 G. B8 p" }
A. On the efficient frontier5 E4 N3 ^6 v* ~' x: h
B. Above the efficient frontier6 G: |) G6 Q7 U0 g, E$ \
C. Under the efficient frontier
0 c6 R ?( ~- m, ~" f" e3 s; S7 g- @ D. Anywhere, as long as the portfolio is diversified2 n) w6 R' Z' h- k" n- t
15. Which of the following is not a user of management accounting information? ______.
8 j. W8 `6 k5 ]6 t9 i) ?: D% U) ~- h A. Store manager
5 Y& U6 }( ?- O B. Creditor7 s4 H; K M' ^0 C4 u% H' W' X
C. CEO+ t9 @" F. M# _# Q
D. CFO
9 J: J" ]$ b; B$ H; I2 G 16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.: T" D7 V9 c; Y' v8 ?9 g" {2 q
Market Condition
: W# L( b+ G" l# E; S' b bear Normal Bull; J, c* J& _( n8 S% ~
Probability 02 0.3 05. y1 m7 L+ e y/ T' t
Rate of return —25% 10% 24%" U0 x# F9 @- K$ \/ T
A. 4%4 {6 N; }/ L- `: p4 e/ w
B. 10%
5 |6 D: Q% k* ^ C. 20%0 Q6 d; k0 w% B! j4 p# B9 n5 R
D. 25%+ L& V: D: P: U( Z% w/ k) K8 q1 ^
Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).
( r. j( ?9 l+ F( y7 Z8 c Bear Market Normal Market Bull Market
# @3 [( \, ^- a ?: Q Probability 0.2 0.5 0.35 I/ s2 c" a1 `! U+ V" s+ K
Stock X_ -20% 18% 50%
) Y/ K9 I- L% Z' ` Stock Y -15% 20% 10%
/ `# x! W* t, b+ c 17. Financial markets serve to channel funds from ______.
: ^- S5 o1 v: @4 P1 b0 d A. the government to contractors
4 q7 `" F# M# {( n, W- Q) O B. investors to consumers
+ B V/ [5 d. j# u4 o* u2 E. L C. consumers to producers# z! A3 \1 z, H0 b& V
D. savers to investors
( Z1 q3 X8 s7 }2 e" c# F 18. The agreements that were reached at the Bretton Woods conference in 1944 established a system ., H, X# M$ @2 `: H3 s0 h4 [
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 }) R. y6 q/ K% l c% e B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations: d% \7 H% q0 E3 Q6 \1 w; v4 o
C. that prohibited governments from intervening in the foreign exchange markets/ d* u: X G3 w# n0 u3 A0 V5 f
D. 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
; i8 `1 q. t. |% \6 k6 V8 ^- C7 { 19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? ., _6 @8 V5 Q$ {; I4 l5 Y. |
A. Assets are originally recorded in accounting records at their cost to the business entity! g; U. [# q% a; ?, @& P1 J' Q# G
B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion
- H1 \" a$ f* }, C, j- F4 h C. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices
1 a0 m5 j2 v5 a. ^4 L+ f D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions8 t$ P0 G+ _+ T- w+ `" o [
20. A fiscal expansion in the UK ______ the pound sterling.1 [+ W# f! W0 b: b6 H! B
A. tends to appreciate. A$ m e- @6 c/ ]- j
B. tends to depreciate' W. B7 J! ]8 t3 @2 \0 H/ T" R
C. does not affect the price of
, e) }1 \, g J0 Y8 \, _( B D. has no predictable effect on the price of
* m9 K% s0 v- o3 }; I 答案:
2 q2 ]3 a1 e9 T: O 1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B4 w* w) G% c/ t; L/ K5 r
11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A |