Question 36 Which of these statements about the policy tools of the U.S. Federal Reserve is most accurate?
A) Decreasing the required reserve ratio is one method by which the Federal Reserve can reduce the money supply. B) The most common method the Federal Reserve uses to increase short-term interest rates is buying Treasury securities in the open market. C) If the required reserve ratio is 20% and the Federal Reserve increases excess reserves by $1 billion, the money supply can expand by as much as $8 billion. D) The Federal Reserve can encourage bank lending by reducing the discount rate. Question 37 To benefit from price discrimination, a monopolist least likely needs to have:
A) two identifiable groups of consumers with different price elasticities of demand for the product. B) a procedure in place to prevent the group charged the lower price from reselling to the group charged the higher price. C) a perfectly elastic demand curve for its product. D) a downward-sloping demand curve for its product. Question 38 Which of the following statements regarding money demand and supply is least accurate?
A) As nominal GDP increases as the result of inflation or increasing output, the demand for money increases. B) The supply of money is determined by the monetary authority and is not affected by changes in interest rates. C) The supply curve for money is vertical. D) As the Fed reduces the money supply, short-term interest rates decrease. Question 39 Consider the following financial information for Cabrillo & Third Diversified: - Annual sales of $250,000
- Opportunity cost of capital of $25,000
- Fixed costs (excluding depreciation) of $70,000
- Variable costs at 35% of sales
- Value of owner’s financial advice estimated at $15,000
- Depreciation of $35,000
- Corporate tax rate of 40%
Based on this information, Cabrillo and Third Diversified:
A) is earning the normal rate of return. B) has positive economic profits. C) has negative accounting profits. D) is not earning the normal rate of return. Question 40 Which of the following is least likely consistent with utilitarianism?
A) A CEO and a common laborer should receive the same income. B) Everyone wants and needs the same things. C) The marginal benefit of a dollar is the same for both the poor and the rich. D) The value of the economy is maximized when each person owns an equal amount of the resources.
[此贴子已经被作者于2008-11-8 14:12:16编辑过] | 
发表于 2008-5-26 11:54
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