1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______.3 I$ X4 X) ?' h5 c
A. his voting rights are considered more important7 H6 w; s, C7 N
B. he has the greater right in choosing the board of directors( n n S% [) F. l
C. he receives his dividend before the ordinary shareholder; j) _$ I- w6 B% h- `7 E [
D. he has the right to buy ordinary shares more cheaply" Q2 f2 m0 m. X$ J! G8 G# K! r
2. What are the two major accounts in the balance of payments? ______.6 X( w. S5 B5 j1 u. @
A. Current account and fixed account
) l3 A: n" D/ g @( S* [0 R( JB. Capital account and deposit account! C) F' V q* ~% @0 N* B3 o
C. Capital account and current account" |, l* E% c5 ]1 i$ T) G
D. The account recording transfer payment and the account including an offsetting transaction
/ p$ d5 m7 o; g3. Which of the following is not a financial instrument? ______.; D6 ^! P8 D* V; U
A. Treasury bills
% \! e' W, b3 X: ~B. Real estate$ M; T" ]4 J7 @8 c+ Y3 M k0 U# u
C. Mortgages
! x; ?5 V+ P7 q) A1 k! Q% P! AD. Stocks {+ |# O7 k' a' k: M
4. The yield to maturity on a bond is ______.4 t- M3 i2 q7 S; h- Q6 D/ u4 S
A. below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond sells at a premium
; D4 k. _# U5 l% j& H; {, eB. the discount rate that set the present value of the payments equal to the bond price
! l9 l( f: s- v8 U; m' x4 V5 K6 UC. the current yield plus the average annual capital gain rate
5 ^/ O. q% m) UD. based on the assumption that any payments received are reinvested at the coupon rate
1 m2 ]6 W! w$ T0 W- C3 T& ^5. The annual interest paid on a bond relative to its prevailing market price is called its ______.8 P" v5 j: ~+ s/ s. e0 E
A. promised yield9 k5 x% m; G9 ~: f5 A
B. yield to maturity
, m, K9 W2 e+ I7 L! vC. coupon rate( E) P/ t5 l& K* z4 f
D. current yield
. _5 g6 E/ Z4 }7 J% M8 X1 Q! s6. Rapid increases in the price level during periods of recession or high unemployment are known as .0 g; Z1 Q, d8 A4 u \
A. stagnation8 K$ k! ?' {0 Z8 H* P
B. stagflation# f8 L a4 Q& p
C. slump- W7 @% h4 ^+ G5 | t
D. inflation
) S4 u n; R# k& H! i& J7. A person who left his/her job to look for another job would be classified as ______.* D- ^. I9 y: @& I b0 i) r
A. structurally unemployed: g; a0 i$ I$ s) |. M4 i
B. cyclically unemployed) b; ^8 L/ d- Q3 z: R u
C. frictionally unemployed! u. u4 V( V" `$ I7 [- C
D. no longer in the labor force
4 Y* F. x; y- W1 v; Y5 O8. Which of the following is not included in a statement of owner's equity? ______.来源:
- `* v* Y* @/ }' r) i- s& `* uA. Net income
& |, v5 a) l6 f6 q" n' a5 |B. Unearned revenue& Q/ l2 A7 ^& \1 B. A
C. Dividend3 O. q* X0 s: b6 X
D. Retained earning
$ B7 u) w. S0 k# P9. If the Federal Reserve sells bonds and Congress cuts taxes and increases government spending,then the U.S. government has ______.) \1 E( f" ~/ m1 {+ k( s" @
A. expansionary monetary policy and contractionary fiscal policy
7 r# t9 l1 {$ G' u) N: e) _B. contractionary monetary policy and expansionary fiscal policy
8 Q& R( U( s' r9 P8 r3 dC. expansionary monetary policy and expansionary fiscal policy
! b; m# g/ R3 p$ k; `: d$ YD. ontractionary monetary policy and contractionary fiscal policy 9 u( @- M6 P2 w- G
* F! b8 l) G1 u! A, C10. As the real wage rises, the substitution effect causes the worker to consume more ______ and less ______.8 U7 Q7 P; c* ?
A. leisure...work
% H0 z9 I0 H9 a3 n9 s/ wB. work...leisure
6 J# z E1 C3 p$ ~2 q: G9 DC. work...of all of other goods% ?1 S/ C( k! _# M s$ t
D. leisure...of all other goods
0 d- x. N3 M8 Y6 ^% m11. The federal funds rate is the interest rate ______.* Z8 o# y$ g: l
A. on overnight loans of reserves between banks, U9 E7 I/ R, \# h t1 B
B. the government pays when borrowing from banks% y( [- o$ L2 o4 _2 M- Z
C. on government debt0 G3 D& B! ^* c5 w1 ?. \$ G
D. both A and B# |% Q' |/ E7 f+ U% p/ p0 U+ i1 ~
12. A consumer's indifference curve shows ______.
- g' e* _) ^/ B! b5 ]A. all combinations of two products that a consumer can use
, c: y& l7 Q5 v! X( E8 [B. all combinations of two products that yield the same total satisfaction to the consumer
3 r' s5 k b' a9 [! @C. all combinations of two goods that the consumer can purchase with disposable persona income5 [/ z" a9 _. V; @5 H. y- H
D. equal income for consumption
3 N; R; _$ R. S3 U13. The value of any investment is found by computing ______.% f( v* H; d6 I" H" ?
A. the future value of all future expenses
2 V0 c: B- n! V7 D& h; j7 h. tB. the future value of all sales9 `2 @& p! n3 ~7 { }
C. the present value of all future liabilities& f: U9 C' e. n! j2 S `' U% r
D. the present value of all cash flows
6 S$ i2 n T$ e0 f$ _( C14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it .
4 y7 P& r8 o% p. `1 B) yA. always consists of central-bank liabilities) B( v4 E6 ^- Y7 I
B. always consists of assets that can serve as commercial bank cash reserves
: W* m8 _6 s7 c5 I ~6 k ~' O7 A) hC. always consists of gold coin
J8 `3 |) o) ]" P7 [D. must be a "fiat" money( S1 ]% _& r* {' ]( l8 ]" @, a
15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.
2 L9 N9 B* x' G" l- J- v. O. s* UA. chronological
S- \ E- i5 ^- K+ m$ }+ ?0 UB. term- ^( @4 i& L+ @, x+ z. L2 h
C. risk
6 S& x+ ?6 C8 Z- |$ ID. liquidity
; ~5 }) ^ u: i+ _3 h) l! x: O16. An example of an investment pool is ______.
F: y7 {; a9 G9 `A. a savings and loan association
2 T# v, l6 T. U6 i! AB. a life insurance company. ]! K- R6 C2 u/ D; U" K
C. a finance company
9 G; w* B0 Q0 u: E: jD. a mutual fund* F% m$ i5 Y k
17. Sustained downward movements in the business cycle are referred to as ______.6 f7 r& s* m6 E" }
A. recessions
m3 V, S. o$ p. r' A& ]B. economic recoveries, V- s- x; \; H6 M9 D3 d
C. inflation
5 A B" ]+ E9 w% {D. expansions1 E9 \( F' U. O5 z8 {6 D# z5 ?3 x
/ |6 P% b; f6 {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. |