1. Commercial paper ______.
" }0 E) ?/ b8 ^# f! FA. is issued mainly by commercial banks6 ?$ Y2 ^8 U- R. F& k& m4 G+ Z
B.can be either short or long-term debt
- N9 l4 a4 r1 e3 h+ VC. is most typically issued in very short maturities, such as one or two months- f2 q$ t7 N F; G' G2 P# ^
D. ought to be considered a capital market instrument
: G$ R) F' _' I, v2. The expectations hypothesis assumes that investors regard bonds of different maturities .
) H$ ]8 a0 `$ Y9 h2 TA. as perfect substitutes* B6 v* Z) }/ n* d% ^% V) Q
B. as not substitutes at all
# k) _7 B S( T( z+ ^C. as substitutes, but not perfect substitutes, |, P s5 [% C/ a( ?
D. none of the above, g7 U% |7 u' U' ]! T. a4 C
3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.7 F6 V; Y" y/ U( Z! z- j* D; k
A. 0.05
! I. x, i5 ^- m& KB. 0.5
( e6 C; b& s! n% c1 m" `C. 5
3 m8 K3 u: A% OD. 50
$ ]# Z. ?) S3 m/ r, R P8 a4. Liquidity of a business is measured by ______.
/ R: W. f% C# o W0 T* U b. cA. the rate of return on owner equity/ j/ S, U( O0 u) j$ N
B. the ratio of total revenue to total expenses incurred
( @# O I) a A' o5 yC. the ratio of current assets to current liabilities
+ t- S* J$ B& k4 zD. the ratio of income to costs9 c% h2 u" T0 T' M) w9 A5 K
5. Which of the following is an example of an automatic stabilizer? ______.; h# C# L4 j9 U- F) L
A. A change in interest rates0 _/ O8 s" z3 S& h" p! X+ C
B. An increase in government spending2 i3 g( V; z; ^9 V1 r
C. Lowering income taxes. k3 R0 T+ Q! s; N! \
D. Unemployment insurance
4 B- K+ V a* [6. Which of the following definitions fits depreciation? .( v. W! _& ~' } P/ B3 c; t
A. Allocation of the asset's market value to expense over its useful life% j5 l( w( o3 s3 ?, y
B. Allocation of the asset's cost to expense over its useful life- Q) q/ N3 @: ^' p- A% z+ z
C. Decreases in the asset's market value over its useful life) Q/ S. p4 ?1 |9 c
D. Increases in the fund set aside to replace the asset when it is worn out* u# l3 Y4 {( f( H1 e1 g# f9 R
7. In the balance of payments accounts, ______ are unilateral transfers.4 j: e: V' C$ o9 h5 D2 |, p9 x
A. direct investments in another nation's businesses
- V' e. ~8 R' i& o3 y/ }2 hB. international transactions in securities with maturities greater than one year
4 o' C9 ~6 {: f2 P" g, V0 ~C. international transactions of securities with maturities of less than one year1 s9 s8 j/ L& n8 |# q5 k! y% B# ~
D. gifts and grants
# V5 y: q2 s3 e$ a) u- {8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .0 E1 H g' D: P+ L9 h
A. a money market mutual fund4 e. @' l2 E! o4 m( g
B. a time deposit
; |& ^" g9 O/ v8 }+ ]C. Keogh Plan
1 O a& V1 O$ ?" R/ u: }% ND. a money market deposit account, H! N8 W$ q8 ]5 |$ O! D$ G. }. q
9. The central problem in economics is that of______.
1 X1 ^ {7 z; iA. comparing the success of command versus market economies
9 |3 O8 A6 j6 { y7 l5 e" }B. guaranteeing that production occurs in the most efficient manner9 O, i% d( t* E: b% Y8 ]' Y
C. guaranteeing a minimum level of income for every citizen7 ]1 F1 o- x& B/ m
D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible
' I0 X0 e1 O2 a8 v4 ?/ F5 Z
1 V% _9 D, s( e- j( _, c10. Which of the following is the most accurate measure of a bond's interest rates? ______.9 @& q+ s0 d4 M7 X8 _2 i, F
A. Coupon rate
- r, v t/ b) S& tB. Yield to maturity. O' b u2 @! i
C. Current yield
# n4 D! M$ L7 FD. Discount yield
$ l5 \( T% B( p9 t" K# Z11. Which of the following is a determinant of asset demand? ______.
' H0 p/ _; b T( X& zA. Expected return( {) g1 S+ E( w0 M: u- W. y3 J0 i
B. Risk
7 v; G$ i( G; A) o3 oC. Liquidity
' W% }* G; T" j, D4 n9 e" KD. All of the above
8 L, k$ r! M5 J- s12. Which of the following items are reported as a current liability on the balance sheet? ____.
; z" ]8 p$ U8 m3 g3 c! R8 I" tA. Short-term notes payable5 ~# T7 w, I$ |' G3 t3 k, {& O% T. L9 h
B. Accrued payroll taxes
5 c) v6 z2 F# i; qC. Estimated warranties b: J0 t* E/ L
D. All of the above
1 N) B/ `) z$ p* }4 ]% m13. Which of the following is not true of fiscal policy? ______.8 i5 O& ]% U! Y( s# s( L+ {
A. Time lags occur with fiscal policy.
1 V$ F" C0 f/ p6 B* UB. Automatic stabilizers help the economy.. n2 p$ m) v7 B9 m
C. "Crowding out" is not a problem of fiscal policy.
& k( p5 s& l$ B2 Z$ I' Q* TD. None of the above.% ` h# X) [; e- [9 \- d
14. What distinguishes the mortgage markets from other capital markets? ______.
6 P9 c1 O! S p3 D5 _A. Securities in the mortgage markets are collateralized by real estate
1 a5 f+ A2 W; N8 v$ H4 N( HB. The mortgage markets usually involve long-term funds1 h2 {6 `- m3 [! @1 y4 S2 e
C. Borrowers in the mortgage markets include individuals and businesses5 z7 K) N, d3 s* c
D. All of the above' L: k9 P) C; W: A# G
15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______." F& _! z4 a* F2 [- K x
A. withdrawal5 @! t% z1 `" b6 ?0 h
B. liquidation
$ w& q) M+ [1 q3 l% cC. acquisition
0 _5 v$ |0 s$ z4 U. t1 rD. dissolution% s* F2 z9 i: i# F1 D, c& ?, p+ o
16. When an investor is buying stock as an investment, the value of most direct concern is .' T9 T8 F. ?+ z% h
A. par value
# b8 n" B* q, `B. liquidation value
' {; g: q$ ^# y* w8 l! b# T' HC. market value& ~7 o( f7 u( {4 {
D. book value/ z4 e) \$ k% a/ A6 A
17. Autonomous transactions are ______.
; y: V: \. c1 F; |) b7 _A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
# E& f0 o7 u, O0 T) SB. transactions that are not undertaken in the pursuit of commercial profit
# R! g2 E: a U8 E k5 \C. transactions undertaken for normal commercial motives! {, w: ]$ R2 o, L3 t6 b% Z; y
D. none of the above
- s1 y, G& E' H# Y) O1 v1 Z! [! ]" n1 ?2 N
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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