金融英语

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. The law of diminishing returns: ()

A. Assumes that there are changes taking place in production techniques.

B. Will always result in a positive figure.

C. Results in average product equaling marginal product when the average product is at its maximum.

D. Shows that the average product rises more rapidly than the marginal product.

2. Income elasticity of demand for a particular product: ()

A. Will always have a positive measurement.

B. Will be of value to the Government in setting the coming year’s direct tax rates.

C. Will be unrelated to the possibility of changes in design of the product.

D. Could be affected by changes in levels of discretionary spending power.

3. For a profit-maximizing firm, the price level equals its marginal revenue (MR) when: ()

A. In an oligopolistic market.

B. In a monopolistic situation.

C. In a perfectly competitive market.

D. Sales rise with the increase in price level.

4. When one country’s potential GDP is higher than its real GDP, this means: ()

A. Its exports are higher than its imports.

B. Inflation is getting worse.

C. There exists some unemployment.

D. None of the above.

5. Cutting taxes can lower investment through its impact on interest rates. This is an example of the: ()

A. Income effect.

B. Accelerator effect.

C. Crowding out effect.

D. Multiplier effect.

6. The price of petrol increases and sales of tyres decrease. This reflects

A. Petrol and tyres are substitutes, and there is a strong income effect.

B. The demand for tyres is inelastic.

C. Tyres are inferior goods.

D. Petrol and tyres are complements, and there is also an income effect.

7. The FDIC presently insures deposits up to what amount? ()

A. $25,000 per account

B. $50,000 per account

C. $100,000 per account

D. $1,000,000 per account

E. Unlimited

8. Firms which specialize in helping companies raise capital by selling securities are called ()

A. commercial banks

B. investment banks

C. savings banks

D. credit unions

E. all of the above

9. The most liquid of all assets is ()

A. The stock of commercial banks

B. M1

C. Intelligence

D. The debt of major corporations

10. Company A and Company B are identical in every way except their capital structure.

Each firm can borrow at 10% and each is taxed at 40%.

Company A Company B

Assets 1000 1000

Equity 600 1000

Debt 400 100

EBIT 100 100

Which firm had the higher Net Income? Which firm had the higher ROE? ()

A. Company B had a higher net income but the ROEs were identical.

B. Company A had a higher net income; company A had a higher ROE.

C. Company B had a higher net income; company B had a higher ROE.

D. Company A had a higher net income; company B had a higher ROE.

E. Company B had a higher net income; company A had a higher ROE.

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