1. Commercial paper ______.
$ I/ E) G3 p+ d0 {1 E A. is issued mainly by commercial banks Y% f& j4 Y+ A- P, c: [
B.can be either short or long-term debt
7 a0 n8 u# L7 f+ X5 D' d C. is most typically issued in very short maturities, such as one or two months" \# s6 `: a0 d# g! V
D. ought to be considered a capital market instrument& o& i/ _( S' n" m% b9 x. f5 y" d
2. The expectations hypothesis assumes that investors regard bonds of different maturities . O! C( H9 v' T$ v! x) V9 h) ~ ?
A. as perfect substitutes- q7 o# ~6 X @" T6 b
B. as not substitutes at all2 A, @( Y, I5 A }8 h
C. as substitutes, but not perfect substitutes0 \8 o6 e/ J C1 O+ y
D. none of the above
, M: L8 N+ F; [5 V$ ` 3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.
# o( _/ R# N2 o0 r' v* a+ e( [ A. 0.05% \6 y3 o& l( ~; h! q
B. 0.54 |+ [! z0 \8 N$ U' G: o% _
C. 5, a+ ?% J( A: W( P3 }( V/ l
D. 50: ?1 E6 I& Q& \/ s: t. n0 `/ I
4. Liquidity of a business is measured by ______.
" }; w N& |) |# D A. the rate of return on owner equity; h# h3 q% Q( B0 M. W
B. the ratio of total revenue to total expenses incurred4 Y. z, p' _. d" \- ?. `- X
C. the ratio of current assets to current liabilities# }+ u" K/ B7 R1 d
D. the ratio of income to costs; X) L" y7 u: y4 g$ V
5. Which of the following is an example of an automatic stabilizer? ______.3 @9 j% Q+ X6 T- Y/ ?1 c3 d
A. A change in interest rates
7 h" D+ G: l- k, Y0 ~ B. An increase in government spending$ V- M: F% J, T+ _! ^" ^; {
C. Lowering income taxes( F" n" ?4 p U! i3 [+ f% t+ c k) H0 ^
D. Unemployment insurance4 n8 Q# c6 e- E! K& t& U
6. Which of the following definitions fits depreciation? .* P# b" z% B+ |/ Q
A. Allocation of the asset's market value to expense over its useful life
2 A1 E, T4 |' v6 g' h d B. Allocation of the asset's cost to expense over its useful life8 o6 u6 C' K/ f
C. Decreases in the asset's market value over its useful life
! I: x; L7 p* o4 [" h& H D. Increases in the fund set aside to replace the asset when it is worn out
h/ q8 R! p2 r* ? 7. In the balance of payments accounts, ______ are unilateral transfers.
" l3 o2 ]6 N2 k+ N! T3 r2 ^* F A. direct investments in another nation's businesses' @) E/ V$ B/ o4 ^, f* L" H
B. international transactions in securities with maturities greater than one year( A# {5 w. `0 P) L- R0 W
C. international transactions of securities with maturities of less than one year% E8 X6 H0 X, g# a" b0 m
D. gifts and grants4 g; E$ b7 H1 q* t) Q, K
8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .
# [ n5 W0 C, J- t; j A. a money market mutual fund
3 {/ {, T3 e5 R' y# _ B. a time deposit
% H% G6 `$ E- X/ ?$ @ C. Keogh Plan$ d# v, b3 L# j$ S) ~ a
D. a money market deposit account
R5 v, J5 o( K8 g' J) ] 9. The central problem in economics is that of______., s W; a0 R/ x; i
A. comparing the success of command versus market economies. j9 |) E! {% u$ S
B. guaranteeing that production occurs in the most efficient manner
5 D1 U; @: L6 k% n1 Q, E7 H2 a C. guaranteeing a minimum level of income for every citizen
$ q9 Z' M: E6 `- _ D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible
8 Q% r8 E3 J1 {! ^4 a h$ J( E 10. Which of the following is the most accurate measure of a bond's interest rates? ______." Z. t( s" c- @3 [! P
A. Coupon rate
7 H" r/ H, d8 Z" z8 n* R B. Yield to maturity3 G- y/ C& A5 D0 R7 M+ @: E
C. Current yield
& a' d$ G1 {) m9 B0 t; e D. Discount yield& ^1 L' K3 d/ t3 X
11. Which of the following is a determinant of asset demand? ______.
6 P5 K, Z, {8 h. Z4 Y- J A. Expected return
' [& n) h/ H$ D7 P+ K6 ^# o6 e/ f+ ~ B. Risk
, t1 J! L3 H1 t9 m" p0 m+ |$ P C. Liquidity6 ?- l+ X2 c2 p/ K
D. All of the above
6 i. L* |( q+ `" r7 V 12. Which of the following items are reported as a current liability on the balance sheet? ____." d2 u* h: ?0 S) d% v6 j
A. Short-term notes payable
' t( g5 d0 o, I- @ ? B. Accrued payroll taxes
7 @' C% ^0 W1 G w C. Estimated warranties5 V, ?8 Z0 l8 Q
D. All of the above. r+ C% s9 {& F( Z$ v0 h& v
13. Which of the following is not true of fiscal policy? ______.8 ]% J5 P" o0 C% H y' Z" T
A. Time lags occur with fiscal policy.
; `' I( e. |8 Y; e1 t3 Y9 u9 q B. Automatic stabilizers help the economy.5 V' M- A( [# n% h9 {
C. "Crowding out" is not a problem of fiscal policy.
! U* _1 ~$ Z2 e2 y D. None of the above.
6 J8 k1 r2 i/ W 14. What distinguishes the mortgage markets from other capital markets? ______.$ ]3 J4 @+ Y: p6 q' a
A. Securities in the mortgage markets are collateralized by real estate1 E3 `8 \1 |+ G: @% H% S
B. The mortgage markets usually involve long-term funds; Q2 Q* S; s. X) B) ^9 k# r) a
C. Borrowers in the mortgage markets include individuals and businesses' y1 U, A2 G: H- R% A9 V
D. All of the above1 k- @6 C( Q# w: ~9 Q# W2 T
15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______., b! M- _; f+ N) f$ U5 i
A. withdrawal
# a3 Q* ^+ t$ L# ` B. liquidation* P% B/ N) R% x
C. acquisition& E# s& f5 T8 y9 |
D. dissolution+ X5 a) U5 V) E2 B8 e
16. When an investor is buying stock as an investment, the value of most direct concern is .
, I; f0 @: B5 ^ A. par value. O) q# b+ H) j/ X+ l# l
B. liquidation value
$ w- }* v" m; |9 A5 H* A C. market value: P& |9 {9 w) ^4 S4 m+ A+ R3 n$ M7 y
D. book value
2 p* _3 q$ Y1 P0 G( u; B 17. Autonomous transactions are ______.
# z8 k5 ~ a u8 L A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
! n1 |( M& i/ w$ d. | B. transactions that are not undertaken in the pursuit of commercial profit |
发表于 2012-8-16 08:05:44
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