答案和详解如下： 41 Correct answer is A “Fiscal Policy,” Michael Parkin
2008 Modular Level I, Vol. 2, pp. 444-445
Study Session 6-27-b
discuss the sources of investment finance and the influence of fiscal policy on capital markets, including the crowding-out effect
A deficit budget leads to an increase in interest rates, a decrease in investment, and an increase in private saving. 42 Correct answer is C “Demand and Supply in Factor Markets,” Michael Parkin
2008 Modular Level I, Vol. 2, pp. 271-274
Study Session 5-21-g
differentiate between renewable and non-renewable natural resources and describe the supply curve for each
The Hotelling principle applies to non-renewable natural resources characterized by perfectly elastic flow supply. According to the Hotelling principle, the price of resource is expected to rise at a rate equal to the interest rate (p. 274). 43 Correct answer is C “Elasticity,” Michael Parkin
2008 Modular Level I, Vol. 2, pp. 15-16
Study Session 4-13-b
calculate elasticities on a straight-line demand curve, differentiate among elastic, inelastic, and unit elastic demand and describe the relation between price elasticity of demand and total revenue
When demand is elastic, a decrease in price by 1% increases the quantity sold by more than 1% and it results in an increase in total revenue. But when demand is inelastic, a decrease in price by 1% increases the quantity sold by less than 1% and it results in a decrease in total revenue. 44 Correct answer is B “Monitoring Cycles, Jobs, and the Price Level,” Michael Parkin
2008 Modular Level I, Vol. 2, pp. 288-289
Study Session 5-22-a
describe the phases of the business cycle, define an unemployed person, and interpret the main labor market indicators and their relation to the business cycle
The three indicators of the state of the labor market that the U.S. Census Bureau calculates are:
the unemployment rate, the labor force participation rate, and the employment-to-population ratio. 45 Correct answer is C “Financial Analysis Techniques,” Thomas R. Robinson, Hennie van Greuning, Elaine Henry, and Michael A. Broihahn
2008 Modular Level I, Vol. 3, pp. 590-592
“Working Capital Management,” Edgar A. Norton, Jr., Kenneth L. Parkinson, and Pamela p. Peterson
2008 Modular Level I, Vol. 4, pp. 89-92
Study Session 10-41-d, 11-46-a
calculate and interpret activity, liquidity, solvency, profitability, and valuation ratios;
calculate and interpret liquidity measures using selected financial ratios for a company and compare it with peer companies
An increase in receivables turnover would indicate that receivables were outstanding for a shorter period of time, decreasing the cash conversion cycle. | 
发表于 2008-11-9 21:49
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