1. Commercial paper ______.8 i( q6 `. [4 P, G! u& L; s6 j
A. is issued mainly by commercial banks) {1 z2 E6 S/ s/ h! j' n
B.can be either short or long-term debt
( |6 y4 {) Q6 `( h2 tC. is most typically issued in very short maturities, such as one or two months
9 g% E) {- `( v A) n' |D. ought to be considered a capital market instrument
) C0 f% L& Q9 c+ [7 B6 ]2. The expectations hypothesis assumes that investors regard bonds of different maturities .
2 B& p. z$ d9 E% [+ E2 ]+ LA. as perfect substitutes
G: A8 y \# C( z2 ^. v0 `B. as not substitutes at all4 K( E% S* s1 @4 ]$ Y) G
C. as substitutes, but not perfect substitutes
y% b8 j" E RD. none of the above
+ A6 v9 g ]+ |- m- e# t# w( e/ A* S3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.
6 y- V* Y/ P" x# |A. 0.05
7 D6 x+ n4 { o" @% c0 wB. 0.5
: q, [" z& \) T. o/ s5 @* X' U; |: b# oC. 5: _6 u# U3 V' k" n
D. 50
( b3 e. s i/ R/ B4. Liquidity of a business is measured by ______.* [2 C. [+ U! x0 f8 r4 _
A. the rate of return on owner equity
) f2 c0 @) e; ~- K \B. the ratio of total revenue to total expenses incurred
i8 I" O3 ~% K; a7 O* M- h' hC. the ratio of current assets to current liabilities& e. M8 y# h. b% o# R; @: W4 N
D. the ratio of income to costs
# k9 S3 _! e; P# c3 t. i5. Which of the following is an example of an automatic stabilizer? ______.9 q" N: M5 h- W; _7 a6 i
A. A change in interest rates
0 k( {: g4 X0 l. N0 cB. An increase in government spending
5 k9 ^+ q1 ~5 i& |4 ^5 MC. Lowering income taxes
* [+ u9 V5 M5 e6 s F( GD. Unemployment insurance# g4 w8 \9 h6 x* U5 h' m3 [
6. Which of the following definitions fits depreciation? .
: G. y) Z1 J8 N0 i% O) ^A. Allocation of the asset's market value to expense over its useful life
: R3 R$ v. ^- H) a% Y4 N& IB. Allocation of the asset's cost to expense over its useful life5 y0 C4 T7 H# q
C. Decreases in the asset's market value over its useful life
6 n$ v7 O0 m- UD. Increases in the fund set aside to replace the asset when it is worn out
5 H" f7 W( O1 E7. In the balance of payments accounts, ______ are unilateral transfers.
; J) G9 Y: O n" \% _) qA. direct investments in another nation's businesses, Q! t( G: i' s6 i2 D6 j
B. international transactions in securities with maturities greater than one year I4 C# g+ G- ~0 Z6 f! l7 C x$ C
C. international transactions of securities with maturities of less than one year
# ^: P$ n' D1 h0 i2 E* uD. gifts and grants: i5 \9 a/ y. g
8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .
/ H8 Z, x% Y+ U* RA. a money market mutual fund l! `! F# S( _5 K9 c# v
B. a time deposit
1 K" ]% V+ w3 g( H; `0 CC. Keogh Plan* @5 C7 I2 J1 ~
D. a money market deposit account
' i9 `5 u: K$ w& k5 ^- t4 A" Z9. The central problem in economics is that of______.
, ?) w* h5 K6 I2 qA. comparing the success of command versus market economies+ c2 }/ p, k% C+ Q, u L
B. guaranteeing that production occurs in the most efficient manner
! p# i5 Q# ~, ~, QC. guaranteeing a minimum level of income for every citizen1 G* p) T" q8 ?' v' ]
D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible
5 L7 ?! A) F8 e; x2 [, y+ J# J+ e- s6 ^
10. Which of the following is the most accurate measure of a bond's interest rates? ______.
2 F* E7 J m0 s6 `6 G7 [A. Coupon rate% F J% b- A6 ^, _, K) j
B. Yield to maturity8 |2 I9 k! d6 q+ s9 a
C. Current yield
1 l. q6 X4 n, ], x" ED. Discount yield+ ~& D. d: m: q U6 ?! D
11. Which of the following is a determinant of asset demand? ______.
: P6 [* K2 X. xA. Expected return$ c: y7 p' F$ n! P5 Q2 i
B. Risk; R9 w2 L+ X7 S
C. Liquidity
5 Q4 d1 F: Q: w, }0 Q* d. a# iD. All of the above
$ }0 A3 f* L* I' ~! L' ^" s9 b! n12. Which of the following items are reported as a current liability on the balance sheet? ____.
3 q) w) R3 W3 T' n2 I8 hA. Short-term notes payable
$ _* a8 j' L" o4 b6 n$ m5 MB. Accrued payroll taxes
8 {. k' I! z0 t8 T1 s6 qC. Estimated warranties; l) q" o D' X0 C1 O2 n
D. All of the above
4 c4 w$ C7 U; x13. Which of the following is not true of fiscal policy? ______.. n V# H5 ~* e9 U
A. Time lags occur with fiscal policy.
; j/ I9 B4 {2 K2 L2 p0 D: ZB. Automatic stabilizers help the economy.# v/ t7 v' u3 y) o4 Q& k
C. "Crowding out" is not a problem of fiscal policy.
& R5 C# R. v) b/ ]D. None of the above.
/ M$ I7 p, k' K8 f( z$ q14. What distinguishes the mortgage markets from other capital markets? ______.8 S9 u/ M( H7 w/ K( G+ w
A. Securities in the mortgage markets are collateralized by real estate7 k3 }6 i2 z: E: I/ U/ v
B. The mortgage markets usually involve long-term funds9 e v3 }* J3 y# m1 D4 E, ^$ Q
C. Borrowers in the mortgage markets include individuals and businesses
& b" `: f' |) b! e3 g% k0 ?D. All of the above
# Z- {+ j2 B( C1 \& ]/ m; [15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______.1 l* r5 A3 Y [ x- E0 o$ s7 W
A. withdrawal
8 [3 N! \5 X# ^/ UB. liquidation
& k b, |: D+ F( K7 u. t+ aC. acquisition3 u" {; r5 {1 Y: z& \
D. dissolution
* U7 z6 t5 t. y- {3 R16. When an investor is buying stock as an investment, the value of most direct concern is .3 |# C0 ?0 h" R- Y" ~
A. par value
N7 k, H( W6 }3 ^B. liquidation value
' u$ b$ _+ K7 k# \; Q R7 W i! {C. market value
8 X# W1 b) B8 U" }5 @) L, u( QD. book value
5 Z/ o0 }7 ?) d" S17. Autonomous transactions are ______.( ~ F1 R% J7 y( c8 ` @$ L) Q1 `; v
A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
/ S5 a M4 T( C! g/ aB. transactions that are not undertaken in the pursuit of commercial profit6 z0 l( g% H! E1 B
C. transactions undertaken for normal commercial motives9 v8 S4 A/ A& H2 E, D
D. none of the above
; l. y" {1 g" X7 X
" h' d" j* q: n: X( B18. 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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