11. The value of money varies _____.
A. directly with the unemployment rate
B. directly with the price level
C. inversely with the unemployment
D. inversely with the price level
12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.
A. the dollar has depreciated relative to the yen
B. the dollar can now purchase more yen
C. the yen can now purchase more dollars
D. the US trade balance with the Japanese economy has improved
13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.
A. price feedback theory
B. trade feedback theory
C. purchasing power parity theory
D. J-curve theory
14. According to the optimal portfolio theory, where should portfolios lie? ______.
A. On the efficient frontier
B. Above the efficient frontier
C. Under the efficient frontier
D. Anywhere, as long as the portfolio is diversified
15. Which of the following is not a user of management accounting information? ______.
A. Store manager
B. Creditor
C. CEO
D. CFO
16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.
Market Condition
bear Normal Bull
Probability 02 0.3 05
Rate of return —25% 10% 24%
A. 4%
B. 10%
C. 20%
D. 25%
Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).
Bear Market Normal Market Bull Market
Probability 0.2 0.5 0.3
Stock X_ -20% 18% 50%
Stock Y -15% 20% 10%
17. Financial markets serve to channel funds from ______.
A. the government to contractors
B. investors to consumers
C. consumers to producers
D. savers to investors
18. 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
19. 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
20. 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
答案：1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B
11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A
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