单选题The long-run production decision differs from the short-run production decision in that: A. variable costs can be changed in the short run but not the long run. B. fixed costs can be changed in the short run but not the long run. C. fixed costs can be changed in the long run but not the short run.
单选题If an increase in aggregate demand is greater than expected, actual
inflation is:
A. greater than expected inflation and unemployment increases.
B. less than expected inflation and unemployment decreases.
C. greater than expected inflation and unemployment decreases.
单选题For an economy operating at full employment, if actual inflation is less than expected inflation, what will most likely be the effects on the unemployment rate in the short run and in the long run? Short run Long run ①A. Increase Increase ②B. Decrease No effect ③C. Increase No effect
单选题Which one of the following is least accurate with regard to money serving as a medium of exchange? Without money to serve as a medium of exchange: A. people's standard of living would probably decline. B. people would continue to enjoy their current standard of living and countries would become more self-sufficient in production of goods and services. C. the transaction cost of exchange would increase.
单选题Mollette Industries uses the payback period as its primary means for ranking capital projects. Which of the following most likely describes Mollette Industries with regard to location and management education? Location Management education A. European-based firm MBA degree or higher B. European-based firm Undergraduate degree or lower C. U.S. based firm MBA degree or higher
单选题The following equations have been developed for a company:
Demand curve
P=150-5Q
Total revenue curve
TR=150Q-5Q2
Marginal revenue curve
MR=150-10Q
Total cost curve
TC=Q3-10Q2+73Q+120
Average cost curve
AC=Q2-10Q+73+120/Q
Marginal cost curve
MC=3Q2-20Q+73
P: price per unit Q cost per unit
The profit maximizing output for this firm (in units) is closest to:
单选题Which of the following statements best explains how automatic stabilizers work? Even without a change in fiscal policy, automatic stabilizers tend to promote: A. a budget surplus during a recession and a budget deficit during an inflationary expansion. B. a budget deficit during a recession but do not promote a budget surplus during an inflationary expansion. C. a budget deficit during a recession and a budget surplus during an inflationary expansion.
单选题A 6% 25-year bond with semiannual payments has a market price of $850.00. The yield to maturity of this bond is closest to:
单选题An investor gathered the following information about two 7 percent annual-pay, option-free bonds: Bond R has 4 years to maturity and is priced to yield 6 percent Bond S has 7 years to maturity and is priced to yield 6 percent Both bonds have a par value of $1000. Given a 50 basis point parallel upward shift in interest rates, what is the value of the two-bond portfolio?
单选题Given P(X=2) =0.3, P(X=3) =0.4, P(X=4) =0.3. What is the variance of X?
单选题An analyst does research about securitiesmarket indices. Which of the following statements is least accurate to make a price-weighted index biased? A. A stock has a high price. B. A stock splits frequently. C. A stock has a large market capitalization.
单选题Sales of inventory would be classified as:
单选题Most often the initial call price of a bond is its:
单选题Which of the following is NOT an assumption behind efficient capital markets? A. New information occurs randomly, and the timing of announcements is independent of one another. B. Market participants correctly adjust prices to reflect new information. C. Return expectations implicitly include risk.
单选题Which of the following statements about debt securities is least
accurate?
A. Commercial paper is a short-term (less than nine months) vehicle for
corporate borrowing.
B. A MTN is a shelf-registered debt instrument that is continually offered
to investors by an agent of the issuer and varies in maturity from nine months
to over 30 years.
C. A medium-term note (MTN) differs from a corporate bond in that a MTN is
sold to investors on a "firm commitment" basis wherein the investment banker
guarantees a price to the issuer.
单选题The short-run supply curve to a firm operating under perfect competition is most accurately described as the segment of the:
单选题An investor wishes to short sell 500 shares of McDonald Corporation. The shares open lower at $14.50 and the next five transactions are $14.00, $14.00, $13.50, $14.25, and $14.50. The lowest price at which the order can be executed is:
单选题Which of the following is the least appropriate accounting treatment for marketable securities under IAS No
单选题Which of the following distinct entities can least likely claim compliance with the Global Investment Performance Standards (GIPS)?
单选题Sarah Wang, CFA, is a vice president in Dragon Securities, an international brokerage firm. She has determined that Dragon has established adequate compliance program designed to detect and prevent violations of applicable laws, rules, regulations, and the Code of Ethics and Professional Conduct Standards. Given that a compliance program is in place, which of the following actions is least likely included in the list of recommended compliance procedures according to the Standards of Practice Handbook? A. Continually educate personnel regarding the compliance procedures. B. Test employees on their knowledge and understanding of the compliance procedure. C. take necessary steps to enforce the procedures once a violation has occurred.