【正文】 s financial position at a specific date17. The concept of beta is most closely associated with ______.A. correlation coefficient B. the capital asset pricing modelC. nonsystematic risk D. meanvariance analysis18. The velocity of money for a given year can be calculated by ______.A. dividing GNP by the money supply B. dividing aggregate supply by aggregate demandC. dividing the price level by the money supplyD. multiplying the price level by total output19. The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______.A. the price levels of the two countries B. the current account balances of the two countriesC. the fiscal policies of the two countriesD. the trade balances of the two countries20. Before issuing a credit, it is important for the issuing bank ______.A. to make certain of the importer39。s revenue and expense transactions for the yearD. It is an expansion of the basic accounting equation of Assets=Liabilities+Owner39。s interest rates are relatively low pared to those of other countries, then the exchange value of its currency will tend to ______ under a system of exchange rates.A. appreciate... floating B. depreciate...floating C. appreciate... fixed D. depreciate... fixed12. Which of the following is true of a pany39。s equity in the business is worth under current market conditions20. A fiscal expansion in the UK ______ the pound sterling.A. tends to appreciate B. tends to depreciateC. does not affect the price of D. has no predictable effect on the price of答案： （四）1. 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%2. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency? ______.A. Confirmed irrevocable documentary creditB. Open accountC. Documentary collection D/AD. None of the above3. ABC Co. Ltd. purchased a car for $ 12 000, making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days. Which of the following is not correct? ______.A. From the viewpoint of a shortterm creditor, this transaction makes the business less solventB. Total liabilities increased by $7 000C. Total assets increased by $12 000D. This transaction had no immediate effect on the owner39。10%17. Financial markets serve to channel funds from ______.A. the government to contractors B. investors to consumersC. 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 agreedupon value of its currency B. of floating exchange rates determined by the supply and demand of one nation39。15%18%Stock X_Normal Market10%05Rate of return02NormalB. printed currencyC. a medium of exchanges balance sheet as ______.A. an asset B. reservesC. part of net worth D. a liability18. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits, ______.A. there is no selfcorrecting mechanismB. currency values bee unstableC. the value of the reserve currency declinesD. world inflation increases19. In a particular economy banks are required to keep 25 percent of all deposits in the form of reserves。t a title to goods, like ______.A. a bill of lading B. an inspection certificateC. a certificate of origin D. an insurance certificate 9. Arbitrage ______.A. is a general economic term for buying something where it is cheap and selling it where it is dearB. keeps exchange rates consistent across marketsC. has been outlawed by the International Monetary FundD. cannot occur where there is a forward exchange marketE. both A and B10. What is the purpose of paring the ledger entries with the documents? ______.A. To prove that all the transactions have made for the right amountsB. To prove that all the accounts have been pos