1. Commercial paper ______.
9 L- |. Y& S2 e, qA. is issued mainly by commercial banks3 R# a* S k8 W) @
B.can be either short or long-term debt3 n0 g: V" q6 _6 u* T u+ J
C. is most typically issued in very short maturities, such as one or two months: z1 U' P/ S L/ V+ F# D5 V4 [
D. ought to be considered a capital market instrument" @9 D- } _/ x
2. The expectations hypothesis assumes that investors regard bonds of different maturities .9 N- ]9 z) K! G
A. as perfect substitutes' y8 I5 U$ W2 I
B. as not substitutes at all
6 k' K% J/ ] ^( o/ T0 ]2 X# dC. as substitutes, but not perfect substitutes- f, ?' H' I% |0 a" U" ^* Q9 g
D. none of the above# n6 ^1 P7 j) @1 t0 O
3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.9 G( E+ `: l0 I2 Y( P
A. 0.05 |; C4 y1 C" {/ M4 w$ m1 T
B. 0.56 Y& ]& a0 A. w4 c$ }
C. 5' X& w1 Q- d& ? X
D. 50( G# j: w( O- S* z$ @
4. Liquidity of a business is measured by ______.( B, Q. @" j. n! i4 B8 K
A. the rate of return on owner equity
" s( h% G0 |+ b0 xB. the ratio of total revenue to total expenses incurred
- A G1 e$ i; c( hC. the ratio of current assets to current liabilities
6 } O8 \, Z8 f+ T* p8 L3 hD. the ratio of income to costs" T& R n: D' y, n9 O9 w% N* C2 J
5. Which of the following is an example of an automatic stabilizer? ______.* M) Q7 f6 \! Y# h
A. A change in interest rates
1 u1 m- j8 ^, s2 `' M' |3 oB. An increase in government spending
) ?0 {/ w. A- O, WC. Lowering income taxes
! ^) E6 s* K1 Q8 X5 E; h { MD. Unemployment insurance
+ O& e, T! k- E! e$ S5 a) P) d6. Which of the following definitions fits depreciation? .9 `: L4 F" w7 a. p( r7 [! I
A. Allocation of the asset's market value to expense over its useful life( Y+ a* o( f' y" p+ ?/ c! ~
B. Allocation of the asset's cost to expense over its useful life8 Q7 ~2 F p9 ~
C. Decreases in the asset's market value over its useful life
! J3 K8 ~$ L$ ~# r7 f; r6 O1 XD. Increases in the fund set aside to replace the asset when it is worn out
3 M6 q6 S+ h3 ?! M7 l7. In the balance of payments accounts, ______ are unilateral transfers.
/ F/ d) k' E2 D4 D5 M o7 }- o" w" ]% gA. direct investments in another nation's businesses
3 h6 K% D7 c& y- j8 q; r& Q- ZB. international transactions in securities with maturities greater than one year9 @9 J0 E5 [2 G }
C. international transactions of securities with maturities of less than one year6 W0 O3 Q8 F. L* H, A
D. gifts and grants
) j) T- v) O" Y: T: Q' Q8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .8 j% x/ z* G& i" }/ H
A. a money market mutual fund
, P5 U( ]$ a8 W+ _ H( M0 d! WB. a time deposit$ w% p* e! t3 k- F/ Y6 c- m
C. Keogh Plan$ f( e& b* B3 P
D. a money market deposit account8 t- @- Z$ }4 G/ ~" w
9. The central problem in economics is that of______.
) t+ k# l' U: tA. comparing the success of command versus market economies# z, j6 K4 M5 \' D% y
B. guaranteeing that production occurs in the most efficient manner
+ k4 }3 [; j" O2 S5 P" p& r& pC. guaranteeing a minimum level of income for every citizen; m( n6 o; C2 x% F% {" C* ^* }
D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible # \5 B, x x9 p* P+ S! T3 n
" y8 M2 J% Z: o) f! h' ]/ a N4 }$ T2 ^10. Which of the following is the most accurate measure of a bond's interest rates? ______.! e! w4 \5 X0 Y" @* T0 A
A. Coupon rate6 `2 a# u$ _* A: j& ]7 M9 ]; f& |2 W
B. Yield to maturity
/ n' M4 ?6 M: I, R6 E; |7 [9 qC. Current yield
9 ?- w3 ?% V0 o8 O; m4 P# b; KD. Discount yield8 k- @ h; A' z% m: r& O0 ^
11. Which of the following is a determinant of asset demand? ______.- \, ]' }$ w+ d2 g
A. Expected return& k) A+ O' g- `; M f
B. Risk
; J Y, ^3 h, @5 wC. Liquidity
9 y" H! _+ x9 P! O& UD. All of the above$ @# H; k7 z7 \' d, I0 F
12. Which of the following items are reported as a current liability on the balance sheet? ____.
3 ^4 I) R5 r fA. Short-term notes payable6 x0 G. A4 Z' |0 l7 K" \
B. Accrued payroll taxes, _( y8 u; J: L
C. Estimated warranties
: S- X3 v6 b. {+ [+ r; KD. All of the above- o1 R- Q! x6 @! u# p/ C
13. Which of the following is not true of fiscal policy? ______.
; e9 J( q f7 D) rA. Time lags occur with fiscal policy.1 f. X( a! P" ~ W Q
B. Automatic stabilizers help the economy.
# B% p( h$ ? q" [' E" S' {. G/ eC. "Crowding out" is not a problem of fiscal policy.# i; [6 q7 n7 e8 p$ J
D. None of the above.
, g# o) f- c. M) U& _! [, W14. What distinguishes the mortgage markets from other capital markets? ______.
5 b5 {( A: {* s5 Z# ?A. Securities in the mortgage markets are collateralized by real estate
. ?( _5 {$ A* J1 I- {) K) vB. The mortgage markets usually involve long-term funds1 J0 v; y& L3 n1 U. T, u
C. Borrowers in the mortgage markets include individuals and businesses
2 p: V& P7 C: e) eD. All of the above
$ D! \1 K0 J+ v$ d- T( K15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______.
c' T. P% y9 X' i) BA. withdrawal( j5 P+ E# W6 O, M( g5 O
B. liquidation
# z) T& n" q5 L, aC. acquisition
7 b9 v1 ]' ? ]4 ND. dissolution
1 s# S2 O: a9 V. K& A/ ~+ [16. When an investor is buying stock as an investment, the value of most direct concern is .
. L. Q, @2 N: [! A5 V6 CA. par value" V3 Z7 c, k6 U3 y
B. liquidation value
4 n+ W8 N* G d! o2 x: A2 {C. market value* D6 l: W1 P3 V( l8 K
D. book value
( @# T+ x3 |- M# } _$ k17. Autonomous transactions are ______.6 X* n6 Y$ t: H ^
A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
3 i9 _, q% M9 U/ T2 _' \ |B. transactions that are not undertaken in the pursuit of commercial profit
+ ~. e* R0 f* `# LC. transactions undertaken for normal commercial motives
4 Q/ J5 a% S8 e2 z5 c) v: |D. none of the above" h5 H, h6 L4 e. Z( m Y& \3 {2 z
+ ?/ h" D' W' J7 r
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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