练习试题：ChoosetheBestAnswer[4]

练习试题：ChoosetheBestAnswer[4] #

1. Commercial paper ______. #

A. is issued mainly by commercial banks

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B.can be either short or long-term debt

C. is most typically issued in very short maturities, such as one or two months

D. ought to be considered a capital market instrument

2. The expectations hypothesis assumes that investors regard bonds of different maturities . #

A. as perfect substitutes #

B. as not substitutes at all

C. as substitutes, but not perfect substitutes #

D. none of the above

3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points. #

A. 0.05

B. 0.5

C. 5 #

D. 50 #

4. Liquidity of a business is measured by ______. #

A. the rate of return on owner equity

B. the ratio of total revenue to total expenses incurred

#

C. the ratio of current assets to current liabilities

D. the ratio of income to costs

#

5. Which of the following is an example of an automatic stabilizer? ______. #

A. A change in interest rates #

B. An increase in government spending

#

C. Lowering income taxes #

D. Unemployment insurance #

6. Which of the following definitions fits depreciation? .

#

A. Allocation of the asset's market value to expense over its useful life #

B. Allocation of the asset's cost to expense over its useful life #

C. Decreases in the asset's market value over its useful life #

D. Increases in the fund set aside to replace the asset when it is worn out #

7. In the balance of payments accounts, ______ are unilateral transfers.

#

A. direct investments in another nation's businesses #

B. international transactions in securities with maturities greater than one year #

C. international transactions of securities with maturities of less than one year

D. gifts and grants #

8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in . #

A. a money market mutual fund

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B. a time deposit

C. Keogh Plan

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D. a money market deposit account

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9. The central problem in economics is that of______.

#

A. comparing the success of command versus market economies

B. guaranteeing that production occurs in the most efficient manner

#

C. guaranteeing a minimum level of income for every citizen

#

D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible #

10. Which of the following is the most accurate measure of a bond's interest rates? ______. #

A. Coupon rate

B. Yield to maturity

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C. Current yield

D. Discount yield #

11. Which of the following is a determinant of asset demand? ______. #

A. Expected return #

B. Risk

#

C. Liquidity #

D. All of the above

12. Which of the following items are reported as a current liability on the balance sheet? ____.

A. Short-term notes payable #

B. Accrued payroll taxes

#

C. Estimated warranties #

D. All of the above

13. Which of the following is not true of fiscal policy? ______. #

A. Time lags occur with fiscal policy.

#

B. Automatic stabilizers help the economy. #

C. "Crowding out" is not a problem of fiscal policy.

D. None of the above.

14. What distinguishes the mortgage markets from other capital markets? ______. #

A. Securities in the mortgage markets are collateralized by real estate

#

B. The mortgage markets usually involve long-term funds

C. Borrowers in the mortgage markets include individuals and businesses

D. All of the above #

15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______.

#

A. withdrawal #

B. liquidation #

C. acquisition

D. dissolution #

16. When an investor is buying stock as an investment, the value of most direct concern is . #

A. par value

B. liquidation value

#

C. market value

#

D. book value

17. Autonomous transactions are ______. #

A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market

#

B. transactions that are not undertaken in the pursuit of commercial profit

C. transactions undertaken for normal commercial motives

D. none of the above #

18. If taxes decrease, which of the following correctly describes the effects? Disposable income______ consumption ______, and savings . #

A. increases... decreases... decreases

B. increases... increases... increases

C. decreases... increases... increases #

D. decreases... decreases... decreases

#

19. A successful company's major source of cash should be ______.

#

A. operating activities

B. financing activities

C. investing activities #

D. a combination of the above

#

20.The price index in 2002 was 160, and in 2003 the price index was 168. What was the inflation rate? ______.

A. 68%

#

B. 8%

#

C. 5%

D. indeterminable without knowing the base year #

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