Bear Market |
Normal Market |
Bull Market | |
Probability |
0.2 |
0.5 |
0.3 |
Stock X_ |
-20% |
18% |
50% |
Stock Y |
-15% |
20% |
10% |
77. Financial markets serve to channel funds from ______.
A. the government to contractors
B. investors to consumers
C. consumers to producers
D. savers to investors
78. The agreements that were reached at the Bretton Woods conference in 1944 established a system .
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 currency
B. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nations
C. that prohibited governments from intervening in the foreign exchange markets
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
79. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .
A. Assets are originally recorded in accounting records at their cost to the business entity
B. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinion
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
D. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions
80. A fiscal expansion in the UK ______ the pound sterling.
A. tends to appreciate
B. tends to depreciate
C. does not affect the price of
D. has no predictable effect on the price of
81. What are the expected returns for Stocks X and Y respectively? ______.
A. 20% and 10%
B. 18% and 12%
C. 20% and 11%
D. 18% and 5%
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