59. In a particular economy banks are required to keep 25 percent of all deposits in the form of reserves; this gives a credit-creation multiplier of ______.
A. four
B. three
C. two
D. five
60. Regulation of the money supply and financial markets is referred to as ______.
A. fiscal policy
B. income policy
C. monetary policy
D. budgetary policy
61. When a country runs a foreign trade deficit under a flexible foreign exchange rate system, its .
A. imports automatically increase
B. currency automatically depreciates
C. exports automatically decline
D. currency automatically appreciates
62. Which of the following statements is not true of accounting? ______.
A. Accounting is language of business
B. The user of accounting includes business, government, nonprofit organizations and individuals.
C. Accounting is useful for decision making
D. Accounting is an end rather than a means to an end
63. The term foreign exchange is best defined by the following statement: it is ______.
A. the rate of exchange between two currencies
B. synonymous with currency exchange
C. the place in which foreign currencies are exchanged
D. an instrument such as paper currency, note, and check used to make payments between countries
64. What is Asset Allocation? ______.
A. Buying assets of different types, risks, and potential returns
B. Buying assets with more than one brokerage account
C. The ability to buy mutual funds
D. Buying stocks for the long term
65. External users of financial accounting information include all of the following except .
A. suppliers
B. line managers
C. general public
D. creditors
66. CAPM is short for .
A. Capital Asset Pricing Model
B. Cash Added Price Matrix
C. Capital Asset Pricing Matrix
D. Cost and Price Model
67. Liquidity measures the ______.
A. value of an asset
B. ease with which an asset can be exchanged
C. usefulness of an asset
D. economic and monetary reliability of an asset compared with other assets
68. In a letter of credit transaction, the bank pays the seller against ______ which agree(s) with______.
A. documents…… the credit
B. merchandise…… the contract
C. documents…… the contract
D. merchandise……the buyer ordered
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