金融英语考试模拟试题及答案(01)
SECTION ONE (Compulsory)：Answer all ten questions in this section. Each question carries 1 mark.
1. Multiple-choice questions: from the following four options, select a correct and fill in its labeling the brackets. (A total of 10 points)
1. Only what happens if the supply is less than demand? （ ）
A. actual price is lower than the equilibrium price
B. actual price is higher than the equilibrium price
C. equilibrium price equivalent to the actual price
D. eliminate the scarcity of goods
2. When the Consumer income and established conditions for commodity prices is still, consumers can buy the two commodities to the greatest number of combinations. What did the Line call? （ ）
A. No difference curve
B. consumption may Line
C. Line and its output
D. enterprise budget line
3. Opportunity cost: （ ）
A. Is always measurable in money terms.
B. Is an indicator of productivity performance.
C. Relates peculiarly to business affairs alone.
D. Measures the cost of doing "x" in terms of what else might be done.
4. The normal downward slope of demand curves is necessarily explained by: （ ）
A. Growth in the size of the population.
B. The adroitness of advertisers.
C. Limited spending power.
D. Technological advance.
5. For a closed two-good economy, the output of the two goods should be at the point where: （ ）
A. The highest indifference curve touches the production possibility curve.
B. The lowest indifference curve touches the production possibility curve.
C. The indifference curve crosses the production possibility curve.
D. The marginal cost curve touches the production possibility curve.
6. The "J-curve" shows that following depreciation: （ ）
A. The quantity of exports falls, making the current account balance worse.
B. Here is an initial drop in imports but this is later reversed.
C. The cost of imports rises immediately from the price effect, worsening the current account bal-ance, but later quantities of imports and exports respond and the current account balance im-proves.
D. There is an improvement in the balance of payments so long as the Marshall-Lerner conditions are met.
7. Which of the following statements about standby letters of credit is true? :（ ）
A. They can serve as a guarantee to a buyer against a seller defaulting
B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods
C. They are unlike a tender (or other) bond in their legal standing and method of operation
D. They are unlike a tender bond with its fixed expiry date
8. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements? （ ）
A. Cash provided by or used in financing activities
B. Cash balance at the end of the period
C. Total liabilities due to creditors at the end of the period
D. Net income
9. Which of these best describes the U.S. Federal Reserve? （ ）
A. Responsible for monetary policy/money supply
B. Prints money.
C. Keeps the country out of debt.
D. Helps people in need.
10. What is the basic purpose of profits in our market economy? （ ）
A. Pay for wages and salaries of workers.
B. Lead businesses to produce what consumers want.
C. Transfer income to the wealthy.
D. All of the above.
1. Multiple-choice questions: from the following four options, select a correct and fill in its labeling the brackets. (A total of 10 points)
1. Only what happens if the supply is less than demand? （ ）
A. actual price is lower than the equilibrium price
B. actual price is higher than the equilibrium price
C. equilibrium price equivalent to the actual price
D. eliminate the scarcity of goods
2. When the Consumer income and established conditions for commodity prices is still, consumers can buy the two commodities to the greatest number of combinations. What did the Line call? （ ）
A. No difference curve
B. consumption may Line
C. Line and its output
D. enterprise budget line
3. Opportunity cost: （ ）
A. Is always measurable in money terms.
B. Is an indicator of productivity performance.
C. Relates peculiarly to business affairs alone.
D. Measures the cost of doing "x" in terms of what else might be done.
4. The normal downward slope of demand curves is necessarily explained by: （ ）
A. Growth in the size of the population.
B. The adroitness of advertisers.
C. Limited spending power.
D. Technological advance.
5. For a closed two-good economy, the output of the two goods should be at the point where: （ ）
A. The highest indifference curve touches the production possibility curve.
B. The lowest indifference curve touches the production possibility curve.
C. The indifference curve crosses the production possibility curve.
D. The marginal cost curve touches the production possibility curve.
6. The "J-curve" shows that following depreciation: （ ）
A. The quantity of exports falls, making the current account balance worse.
B. Here is an initial drop in imports but this is later reversed.
C. The cost of imports rises immediately from the price effect, worsening the current account bal-ance, but later quantities of imports and exports respond and the current account balance im-proves.
D. There is an improvement in the balance of payments so long as the Marshall-Lerner conditions are met.
7. Which of the following statements about standby letters of credit is true? :（ ）
A. They can serve as a guarantee to a buyer against a seller defaulting
B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods
C. They are unlike a tender (or other) bond in their legal standing and method of operation
D. They are unlike a tender bond with its fixed expiry date
8. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements? （ ）
A. Cash provided by or used in financing activities
B. Cash balance at the end of the period
C. Total liabilities due to creditors at the end of the period
D. Net income
9. Which of these best describes the U.S. Federal Reserve? （ ）
A. Responsible for monetary policy/money supply
B. Prints money.
C. Keeps the country out of debt.
D. Helps people in need.
10. What is the basic purpose of profits in our market economy? （ ）
A. Pay for wages and salaries of workers.
B. Lead businesses to produce what consumers want.
C. Transfer income to the wealthy.
D. All of the above.