11. The value of money varies _____." y. x* H0 W; i* q3 k. o% N" D, d
A. directly with the unemployment rate5 y1 z' Z+ |. b4 |+ `" i
B. directly with the price level, S& L" M% o6 l8 p
C. inversely with the unemployment- W$ T+ {% I- `" M
D. inversely with the price level
n- p2 S1 I% {) g& X 12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.
; E! D% L. h2 r5 T& J G5 U4 p1 X4 L A. the dollar has depreciated relative to the yen
/ q% M& U/ @8 p: B$ I% F/ q B. the dollar can now purchase more yen
* `: J H v! B' {$ W C. the yen can now purchase more dollars2 ]" i4 |/ t4 d; `
D. the US trade balance with the Japanese economy has improved( Y/ ?) m l) O) V
13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.
) S8 V. f/ i( m* @4 M1 [- b' O A. price feedback theory3 _1 c3 g. a3 i b7 u
B. trade feedback theory" x& v) M* @4 Y6 e- @
C. purchasing power parity theory- l3 R# [2 h3 ]# O1 L9 [- e. U
D. J-curve theory' b$ G: g. D/ c: L$ Q0 n# S0 m
14. According to the optimal portfolio theory, where should portfolios lie? ______.
2 D X1 G' l" H. n$ U! m! A A. On the efficient frontier
5 q k/ |+ F2 S, I u# a4 W B. Above the efficient frontier
! `6 k! T% c0 e) U+ m. I C. Under the efficient frontier
1 ~2 \ m( l2 p( n; q6 _ d+ l4 r D. Anywhere, as long as the portfolio is diversified
5 ]2 O+ \1 Z7 y/ K" G2 b 15. Which of the following is not a user of management accounting information? ______.: y1 X1 ~3 j; w4 k! Q
A. Store manager
# W+ k9 E* e+ n5 j B. Creditor: F3 j9 b1 G; C1 `+ k' O1 i
C. CEO
4 D0 n% D/ @; N* X. a D. CFO
! A0 E+ I% d- z6 [ 16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.1 V8 @2 d' ]* \- ~/ O0 X! g
Market Condition4 {, w2 j% J( [( p* H1 u8 h+ w" D1 J
bear Normal Bull
8 j/ S1 |+ {8 j/ ^( `* g$ w: v! Q Probability 02 0.3 05+ [9 s. d4 j$ a, w' C
Rate of return —25% 10% 24%
& n3 T9 b/ B7 b. R* Q" ?9 C9 {# h A. 4%
: o* C* P2 f: {. g1 C B. 10%4 s+ s1 w$ f' y0 m# \
C. 20%
9 n* W! N* J! l0 C+ V8 v# h: I D. 25%7 i+ a; v) n4 `
Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).* Q$ ?0 D+ n8 R9 R* k
Bear Market Normal Market Bull Market
, _4 f* t) }4 C/ G Probability 0.2 0.5 0.3: v: s. X5 P/ N& q8 \/ e3 ~. B$ v, C
Stock X_ -20% 18% 50%
4 O2 V+ i: J% i* `# k* o Stock Y -15% 20% 10%, U0 L; Y* a! i
17. Financial markets serve to channel funds from ______.7 [( d9 h- i/ `& D- v/ V3 e
A. the government to contractors
, D0 h! U8 Y; D* K& x B. investors to consumers
1 K' b4 [- O) Q C. consumers to producers( p1 p3 C4 ?( p+ ~$ v/ ]/ T
D. savers to investors& z9 X: Q6 w6 k0 A- i" D# x
18. The agreements that were reached at the Bretton Woods conference in 1944 established a system .
) |; t) ^; H% u" }4 B A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency7 g+ Z( J. v5 r' r. I2 U6 X
B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations! u3 Q5 M* @0 _# D
C. that prohibited governments from intervening in the foreign exchange markets% O4 A* k% W3 u
D. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading
' `/ z8 w5 B/ l' E) U( I% _: _ 19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .
+ ?7 _8 d; A: @: A A. Assets are originally recorded in accounting records at their cost to the business entity3 y: U5 `; K" H |, M3 c
B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion
8 P; O9 f8 p8 P2 o# g: [) y C. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market prices# }' e# s5 U$ u; T
D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions. u9 X1 L6 N, o n
20. A fiscal expansion in the UK ______ the pound sterling.
$ D7 l1 Z" D1 C! q" u; I5 X2 U A. tends to appreciate
. }7 Q4 C: h6 |8 d4 C, i/ B1 j! E1 x B. tends to depreciate$ f6 E0 T4 C2 y* [6 g6 z
C. does not affect the price of
! f O4 P: [7 B: n8 v D. has no predictable effect on the price of
. `. {4 z/ Z. c% t8 v 答案:% @6 K# e; {$ I1 O
1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B1 ^$ e. {( |- d( Z
11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A |