1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______.& o1 d( H: n: j4 P# J
A. his voting rights are considered more important
; E; o6 c- E- j# |, j9 u% JB. he has the greater right in choosing the board of directors ?6 J. A% O9 L( b, \/ F
C. he receives his dividend before the ordinary shareholder. C( |9 l/ @( |
D. he has the right to buy ordinary shares more cheaply
# E( f w, ^) n4 Z; B+ K; [2. What are the two major accounts in the balance of payments? ______.
3 F! j: J1 ~. r, o( ]3 j- @6 pA. Current account and fixed account
- U" L( G# b H1 ? b/ k2 _! \ F8 MB. Capital account and deposit account# z. X( E5 R6 Z8 q8 [
C. Capital account and current account$ q) A/ D1 A6 c$ K8 D. P
D. The account recording transfer payment and the account including an offsetting transaction
; d1 D$ R9 i# d, F& V' Z. l3. Which of the following is not a financial instrument? ______.; K( o3 M+ D" d7 }$ w
A. Treasury bills
2 g3 U- l% \$ N! L3 ~+ k8 H2 SB. Real estate& Q/ T- u9 f d& `: c; e
C. Mortgages
/ l% [- e. ^6 ~$ o, qD. Stocks
) Z* m# u7 `% i$ U* `$ ]4. The yield to maturity on a bond is ______.
) T( ^. L/ Y8 iA. below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond sells at a premium
7 Q% T, h$ H0 u7 C' }B. the discount rate that set the present value of the payments equal to the bond price# s% [( a a% W. ^: @
C. the current yield plus the average annual capital gain rate+ C2 ?/ @( J& f, @; R% ~+ s$ c
D. based on the assumption that any payments received are reinvested at the coupon rate
5 e+ s s. `5 e9 d' A5. The annual interest paid on a bond relative to its prevailing market price is called its ______.
; a- ^3 q8 f, }6 L$ }A. promised yield
* N" H" N! c( c p1 [B. yield to maturity
& ~, O! ~$ N# m0 N' kC. coupon rate
u9 D/ j. {7 l& {0 DD. current yield- ?- z0 {' g+ _8 y8 t5 I
6. Rapid increases in the price level during periods of recession or high unemployment are known as ./ S8 N+ q, f5 \& ]- J' L, I+ o O
A. stagnation/ q8 H+ f+ k! U) X+ G7 e G
B. stagflation
7 `% L/ k$ ~0 z1 l. D! _2 zC. slump
# B) \; p1 |$ |1 oD. inflation( H" H i! R+ Z% a
7. A person who left his/her job to look for another job would be classified as ______.4 L% x1 v3 ?" X; w U# F
A. structurally unemployed+ T1 a; d7 p8 \" Q! N: W( z' L
B. cyclically unemployed
_( o" j- c" q3 ^+ W* I0 yC. frictionally unemployed: x" ?0 S. q4 `
D. no longer in the labor force) Z7 N9 |7 ]7 l6 G
8. Which of the following is not included in a statement of owner's equity? ______.来源:2 A0 F- [6 U. a- ?1 t
A. Net income e# G2 ]4 Q' |3 t; B1 @. {7 ~2 F
B. Unearned revenue9 b& `5 ^0 O, n& X
C. Dividend# h9 M: S" Z' i# Q0 J5 k2 Z
D. Retained earning! B6 S4 c1 Q4 M1 |) J6 K
9. If the Federal Reserve sells bonds and Congress cuts taxes and increases government spending,then the U.S. government has ______.3 u& K& N# n8 }4 o/ a5 @
A. expansionary monetary policy and contractionary fiscal policy# N1 R, c4 l' G% f9 X$ B, r
B. contractionary monetary policy and expansionary fiscal policy
% o4 S, p' [: t- ?" yC. expansionary monetary policy and expansionary fiscal policy
. C+ y8 D) v6 E& P U. h: ^D. ontractionary monetary policy and contractionary fiscal policy
( y- y6 H `! `: L% C' l K3 q: @! {) Y! o: @5 n1 _
10. As the real wage rises, the substitution effect causes the worker to consume more ______ and less ______.
2 q! I8 ~ s; M0 s0 E' g; }" OA. leisure...work5 Y: o G* @1 e) b
B. work...leisure+ i) Y! J# J2 {5 _
C. work...of all of other goods
$ H1 S* y6 D. Q) aD. leisure...of all other goods* b. p Q8 h6 b- {4 }$ V* Y
11. The federal funds rate is the interest rate ______.
# B* g6 Z1 t2 }# p- j% n$ _A. on overnight loans of reserves between banks
: p6 ^, }. a3 I- r: cB. the government pays when borrowing from banks) k* N( e+ d! U& r6 N3 \
C. on government debt/ H9 \9 l0 S$ h- {( e" ?
D. both A and B. l+ P' x; K: q% O2 K
12. A consumer's indifference curve shows ______.# r/ L, O9 M$ g% ~0 E) S' ~
A. all combinations of two products that a consumer can use4 }& ` c Q8 g' o+ }
B. all combinations of two products that yield the same total satisfaction to the consumer
( v5 U4 B# L2 R% B8 |+ ^# p) FC. all combinations of two goods that the consumer can purchase with disposable persona income
R, ]/ q$ E. Y* Q+ q6 ~D. equal income for consumption
; ~ g% b# n, c13. The value of any investment is found by computing ______.
: E3 t: e- l& W( pA. the future value of all future expenses' z, ]2 }- _. \1 o; b
B. the future value of all sales3 T- Q3 j. r+ V5 k3 z% ^
C. the present value of all future liabilities% F" u3 a% b* J3 L s
D. the present value of all cash flows
" t5 r2 }# i( F5 Z1 F4 l7 P, y14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it .0 Y/ q! T# j5 P& }
A. always consists of central-bank liabilities1 {/ A4 x8 v8 F1 @
B. always consists of assets that can serve as commercial bank cash reserves; U$ Y3 f. @, t( W) O
C. always consists of gold coin
* j1 |+ F. ]5 p# |D. must be a "fiat" money
* p+ w/ c8 |; n15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.# w$ q5 Y! D" p: {; j; q
A. chronological
( K8 v( M3 _) P/ q* k9 XB. term! o3 ~6 f- E1 ~( K) n' m0 q* z7 W
C. risk
k7 G1 \7 {6 _& S! O- VD. liquidity( |5 | U" U' l- a+ R' ?& t
16. An example of an investment pool is ______.
2 H% S# f; J9 g2 l% WA. a savings and loan association
}, u/ x) ?) a* B3 c9 H! \B. a life insurance company& r5 K2 E4 d L! A4 u, [
C. a finance company5 a' G( |2 Q2 x4 z" T$ ]8 I
D. a mutual fund0 |& Y4 Z, O' [& X, `. v9 M. o
17. Sustained downward movements in the business cycle are referred to as ______." ~& _6 r1 t# O* i
A. recessions: x7 m* i \& r: A1 H7 n9 _
B. economic recoveries
$ c+ f- o+ O1 c9 H) F1 J& UC. inflation% _8 A3 ]* Q8 q" J( R
D. expansions
+ M. N0 i/ g2 E; i8 R1 h& {# n$ T' ?
7 ^% d4 l4 A* R18. _____ 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. |