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Vietnam Stock Exchange Forum – Diễn đàn chứng khoán Việt Nam http://diendan.vse.vn Economics - 14 Questions - 21 minutes Question: 37 - 12360 Supply-side economics stresses that: expansionary monetary policy will cause real output to expand without causing the rate of inflation to accelerate. B) tax rates are not a major determinant of real output. C) aggregate demand is the major determinant of real output. D) marginal tax rate changes can exert a significant impact on real output. Question: 38 - 28539 If the Federal Reserve wants to follow a more expansionary monetary policy, which one of the following should it do? A) Buy bonds in the open market. B) Increase the federal funds rate. C) Increase the discount rate. D) Increase reserve requirements. Question: 39 - 28540 If the adaptive expectations hypothesis is correct, a shift to a more expansionary macroeconomic policy will: A) increase the unemployment rate in the short run, but not in the long run. B) reduce the unemployment rate in the short run, but not in the long run. fail to systematically reduce the unemployment rate in either the short run or the long run. D) reduce the unemployment rate in the long run, but not in the short run. Question: 40 - 29316 Given the following hypothetical data from the national income accounts of an unidentified country, calculate gross domestic product (GDP) using the resource cost-income approach. National Income Accounts for 2000 Government Consumption and Investment Net Income of Foreigners Gross Private Investment: Fixed Investment Inventory Proprietor’s Income Employee Compensation Personal Consumption Indirect Business Tax Billions 680 10 450 20 316 2000 2262 300 Cổng thông tin chứng khoán Việt Nam – http://www.vse.vn 10 Vietnam Stock Exchange Forum – Diễn đàn chứng khoán Việt Nam http://diendan.vse.vn Rents 67 Net Exports -50 Depreciation 300 Interest Income 119 Corporate Profits 280 A) $3,362. B) $3,392. C) $4,250. D) $3,392. Question: 41 - 29317 Nominal gross domestic product (GDP) in 2000 is $3.2 billion, up from $2.6 billion in 1992. The 1992 GDP deflator is 100 and the 2000 deflator is 116.3. What is the change in real GDP over the period in percentage terms? A) 5.83%. B) 4.25%. C) 6.45%. D) 5.01%. Question: 42 - 29318 Which of the following statements regarding federal open market operations is FALSE? A) Open market operations is the most commonly used tool of the Fed. If the Fed wants to stimulate the economy, they will sell Treasury securities to banks. When the Fed sells Treasury securities they are shrinking excess reserves and the monetary base. D) When the Fed buys Treasury securities, short-term interest rates will generally fall. Question: 43 - 29319 A restrictive monetary policy will have what long-run effects on the following variables, respectively? I inflation II real output and employment III real interest rate A) decrease, decrease, decrease. B) decrease, no change, no change. C) increase, no change, increase. D) increase, increase, increase. Cổng thông tin chứng khoán Việt Nam – http://www.vse.vn 11 Vietnam Stock Exchange Forum – Diễn đàn chứng khoán Việt Nam http://diendan.vse.vn Question: 44 - 29323 All of the following are emerging consensus views regarding policy changes and economic stabilization EXCEPT: A) high employment should be the focus of monetary policy. B) governments should avoid wide swings in both monetary and fiscal policy. C) price stability should be the focus of monetary policy. in the long run, demand stimulus cannot reduce the unemployment rate below the natural rate. Question: 45 - 28541 Under monopolistic competition there are: A) few firms. B) many firms. C) low barriers to entry. D) many firms and low barriers to entry. Question: 46 - 29050 Which of the following statements about price elasticity is most likely FALSE? A) The elasticity of demand of a good increases over time. If the price of a brand of toilet paper increases, total expenditure on that brand of toilet paper will increase. C) If the price of gasoline increases, total expenditures on gasoline will increase. The demand for the manufacturer of PikitOut Toothpicks is more elastic than that of the market for toothpicks. Question: 47 - 12822 If a country can produce a product at a lower cost they have: A) a natural advantage. B) both an absolute and a comparative advantage. C) an absolute advantage. D) a comparative advantage. Question: 48 - 28542 Which of the following statements about exchange rates is FALSE? The standard method of listing interbank quotes is to list the traded currency over the U.S. Dollar. This is called European terms. Transaction costs hamper arbitrage opportunities allowing market inefficiencies to B) exist. Thus there will be a trading range around an exchange rate where arbitrage does not occur. Forward exchange rate / Spot exchange rate should equal (1+r domestic) / (1+r foreign). When rD-rF < [(f-s) / s] borrow foreign currency, convert it to local currency and lend it out in the local market. Question: 49 - 29061 Cổng thông tin chứng khoán Việt Nam – http://www.vse.vn 12 Vietnam Stock Exchange Forum – Diễn đàn chứng khoán Việt Nam http://diendan.vse.vn A nation’s currency is least likely to depreciate on the foreign exchange market because the: A) country removes a high tariff on a major imported good. B) country runs a current account deficit. government recently undertook an unanticipated contractionary monetary policy action. D) country`s inflation rate increased. Question: 50 - 29066 Given the European terms for the Czech Koruna (CSK) and the Polish Zloty (PLZ), determine the CSK/PLZ bid-ask spread. (Note: Carry calculations to at least five decimal places.) CSK/$ Bid Ask CSK 36.60000 - 0.00500 / US $ PLZ/$ Bid Ask PLZ 4.18000 - 0.05000 / US $ A) CSK 8.75718 - 0.10470 PLZ. B) CSK 8.65366 - 0.102317 PLZ. C) CSK 8.11557 - 0.001372 PLZ. D) CSK 8.65248 - 0.10470 PLZ. Financial Statement Analysis (FSA) - 30 Questions - 45 minutes Question: 51 - 28555 Which one of the following statements is FALSE? The cost recovery method is similar to the installment sales method in that A) revenue is recognized when cash is received, but no profit is recognized until all the cost of goods sold has been recovered. The installment sales method recognizes revenue and the associated cost of B) goods sold only when cash is received. The profit recognized is the collected cash less the proportionate cost of goods sold. The completed contract method doesn`t recognize revenue and expense until the C) contact is completed and title is transferred. Profits are recognized on a prorata basis. The percent-of-sales method recognizes profit corresponding to the percentage of D) cost incurred to total estimated costs associated with long-term construction contracts. Question: 52 - 28556 Which of the following statements is FALSE? The results of discontinued operations are reported below income from continuing operations on the income statement net of taxes. B) Items that are unusual in nature or infrequent in occurrence appear below income Cổng thông tin chứng khoán Việt Nam – http://www.vse.vn 13 Vietnam Stock Exchange Forum – Diễn đàn chứng khoán Việt Nam http://diendan.vse.vn from continuing operations on a pretax basis. Extraordinary items are both unusual in nature and infrequent in occurrence. C) Extra-ordinary items are disclosed net of taxes after income from continuing operations in the income statements. Changes in accounting principle are reported net of taxes after extraordinary items on the income statement. Question: 53 - 28557 Which of the following describes how issuing zero-coupon bonds affects a company`s financial statements? A) Cash flow from investing decreases during the year of maturity. B) Cash flow from financing increases during the year of issuance. C) Company net income is overstated every year until maturity. D) Cash flow from operations decreases for the life of the bond. Question: 54 - 29457 Indigo Corp.’s Income Statement for the year ended December 31, 2001, is as follows: Sales Cost of Goods Sold Gross Profit Interest Expense Depreciation Expense Loss on Inventory Write Down to Lower of Cost or Market Income Tax Expense (current) Net Income $73,000,000 (47,000,000) 26,000,000 (7,000,000) (5,000,000) (4,000,000) (3,000,000) $ 7,000,000 Assume there were no changes in balance sheet accounts for Indigo in 2001. Using the indirect method, what is the net cash provided or used by operating activities for the year ended December 31, 2001? A) $9,000,000. B) $16,000,000. C) $11,000,000. D) $7,000,000. Question: 55 - 29458 In 2001, Wilson, Inc. entered into a long-term construction contract with the Gordon School District to construct an elementary school for $20 million. The cost to complete the contract has been reliably estimated at $15 million. During 2001, costs of $7.5 million were incurred under the contract. A total of $9 million in advance billings were made and $5 million of those billings were received in cash. If Wilson used the percentage-of-completion method to account for this contract, Wilson, Inc.’s balance sheet as of December 31, 2001, will show a balance of: A) $4 million in the Net Construction-in-Progress asset account. B) $4 million in the Net Advance Billings liability account. C) $1 million in the Net Construction-in-Progress asset account. D) $1 million in the Net Advance Billings liability account. Cổng thông tin chứng khoán Việt Nam – http://www.vse.vn 14 ... - tailieumienphi.vn