1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______.
; Y i2 Y7 U# p! W; V% b p A. his voting rights are considered more important
0 Z. E' U4 i% N B. he has the greater right in choosing the board of directors
$ O; ^5 i- {! O- |' d; U( @$ d C. he receives his dividend before the ordinary shareholder
; D1 B9 g! d( M9 Z d4 C D. he has the right to buy ordinary shares more cheaply
: N, U0 C( K* b1 y$ v, O4 c 2. What are the two major accounts in the balance of payments? ______.- T3 j: X5 z( l2 c+ j7 Q
A. Current account and fixed account) ?6 v8 H. _% q2 `9 M/ Q$ g
B. Capital account and deposit account1 ~# k$ u3 W; h% H2 @2 |
C. Capital account and current account1 j* m6 q' \1 P4 a
D. The account recording transfer payment and the account including an offsetting transaction
; O+ q& G( l4 e! z1 k( B 3. Which of the following is not a financial instrument? ______.& W! ~% C- g3 q: q
A. Treasury bills) H8 ?8 i) q% Z, G6 ]/ S, q% s$ }) \
B. Real estate
0 \1 M2 r0 p( E Q4 L C. Mortgages4 C* f$ H& o: r( }, X
D. Stocks9 T; M. R* w9 z7 e1 f2 l
4. The yield to maturity on a bond is ______.
7 D0 s4 a+ q/ o- Z9 B1 V% 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
+ `9 U2 M* e0 e9 T( {, n B. the discount rate that set the present value of the payments equal to the bond price' F; G* c$ i& o! s) F. T; X, D \# M. {7 y1 y
C. the current yield plus the average annual capital gain rate( w$ [& \( v4 J2 A7 d# T( T& N! o
D. based on the assumption that any payments received are reinvested at the coupon rate
% w% X- M' B n% V0 S8 u" Z. X 5. The annual interest paid on a bond relative to its prevailing market price is called its ______.6 C$ z$ P; s9 x+ q5 N
A. promised yield H( I1 \$ p; @
B. yield to maturity
2 `$ x0 {8 u$ \+ J- D( f6 F C. coupon rate
, w& N: O5 t& X: m D. current yield
% X, |. ]1 x: n; q @ N 6. Rapid increases in the price level during periods of recession or high unemployment are known as .
% `& k# ]4 f5 k" K& P A. stagnation' d) w' {& n1 ?: |7 I( P. Q, l3 L
B. stagflation* G, s7 o" Y, `) V
C. slump
z9 N9 E4 V# ]) ]; G D. inflation+ @& Z7 W. L3 s
7. A person who left his/her job to look for another job would be classified as ______.
1 g/ V( H2 I3 t9 G4 J& z. p# ^$ e9 K A. structurally unemployed
& b D8 M4 J! j3 d0 O, T7 m B. cyclically unemployed
8 n; ~$ E4 H/ G* i/ Y$ A7 a0 u C. frictionally unemployed4 S' l. f3 v, H5 v4 x- b- x
D. no longer in the labor force
) m9 \) a& x0 k" P! i& a, ^ 8. Which of the following is not included in a statement of owner's equity? ______.来源:
2 i( i7 w" E/ d5 N+ x# a/ j A. Net income( B K( I/ R: V: m8 C$ t) Q
B. Unearned revenue" i7 c2 M4 Z" R& Q
C. Dividend* {7 o# L- i: U3 N; ?
D. Retained earning
8 y0 F, C& f9 ]& p 9. If the Federal Reserve sells bonds and Congress cuts taxes and increases government spending,then the U.S. government has ______.
' F. o2 X P. E8 k8 B! N! ?' b A. expansionary monetary policy and contractionary fiscal policy/ o( y4 i+ d1 _$ o; C0 r0 O6 [
B. contractionary monetary policy and expansionary fiscal policy
( H8 E9 f" j5 n @9 Q" \6 e C. expansionary monetary policy and expansionary fiscal policy3 u& J6 j5 p# l/ V9 K: j8 Y
D. ontractionary monetary policy and contractionary fiscal policy
* g' X) h7 w4 k U/ q7 ?9 G3 n 10. As the real wage rises, the substitution effect causes the worker to consume more ______ and less ______.2 r% e# I7 b3 K2 U
A. leisure...work. f- L% Q) j3 N
B. work...leisure5 J- b0 f) i- X/ t2 P; a
C. work...of all of other goods' q% Q; c8 w( V! y5 l# u
D. leisure...of all other goods: M5 v5 s* g( g9 r& t+ U
11. The federal funds rate is the interest rate ______.
! q5 K8 O, W! m: `; w3 {+ i; D9 j8 L A. on overnight loans of reserves between banks" r/ {/ n# l: J B) f+ y
B. the government pays when borrowing from banks- v' b1 Y1 ~5 M- F
C. on government debt
. a3 j; t% Z1 r- z H2 _ D. both A and B/ F5 U4 R& `% h
12. A consumer's indifference curve shows ______.
( N4 _, ~* e# l1 a: R8 ?. K A. all combinations of two products that a consumer can use
& {5 J/ c" E( E B. all combinations of two products that yield the same total satisfaction to the consumer2 f0 h- t4 S: y# O# w
C. all combinations of two goods that the consumer can purchase with disposable persona income
# |0 Z" J% H% f( x, j" C D. equal income for consumption* X& Z: j8 k" [' L3 @" k. S
13. The value of any investment is found by computing ______.
! H9 R0 J" h t+ x A. the future value of all future expenses
' \5 B, T& g; ` B B. the future value of all sales! U! X! {' K' @0 B' z
C. the present value of all future liabilities5 Q) p/ \5 K% `" v
D. the present value of all cash flows
' Y+ m- W, B: a8 X" Y; c6 s 14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it ./ `3 N, N, E8 n W; m5 n2 }8 i
A. always consists of central-bank liabilities0 X& g9 x- L5 Q& h/ T' n+ p8 S
B. always consists of assets that can serve as commercial bank cash reserves
& Z9 ?/ i) g: x* H1 w! ^' T3 l C. always consists of gold coin0 K) [. P0 U5 p- F$ O
D. must be a "fiat" money2 [' o) r8 i+ D6 m
15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.1 F' c# R1 V6 M+ _& p+ q
A. chronological- |2 U0 j* F9 R+ i5 C5 X
B. term" c5 i. \, f% e! b
C. risk
: n+ [" ?; s; }) I& \& Y9 ?2 q1 P/ D D. liquidity
# V" Q+ ~ s+ _2 _3 d: z+ j3 K 16. An example of an investment pool is ______.
, s, q1 H% A* W- A; u; S2 @ A. a savings and loan association% ?1 _" q: q% G- |" W2 B7 B
B. a life insurance company
1 @+ K% \' B8 C7 O; k: q3 A$ j4 H7 M& ^ C. a finance company
: I" g% g! K0 T; {/ c$ V D. a mutual fund
9 @/ C# d; \1 F- T 17. Sustained downward movements in the business cycle are referred to as ______. |