金融英语考试模拟试题及答案(03)

 1. B A D C A, C A C A B
  Reading Comprehension: (10 points)
  Part 1)
  Your answer: B was correct!
  Profitability in a particular industry attracts competition from other firms, which then forces prices down, eventually reducing profits back to a long-run normal level. The opposite holds true for industries experiencing losses.
  Part 2)
  Your answer: D was correct!
  During economic downturns, producers of low-cost products increase their market share at the expense of high-cost producers. This also is true within firms that produce various priced products.
  Part 3)
  Your answer: B was incorrect. The correct answer was C!
  (1 + growth of firm sales) = (1 + growth of industry sales) x (1 + fractional change of market share)
  = 0.98 x 1.005
  = 0.9849
  Growth of firm sales = –1.51%
  Part 4)
  Your answer: B was incorrect. The correct answer was C!
  0.97 = 1.01 x (1 + x)
  0.9604 = 1 + x
  –3.96% = x
  Part 5)
  Your answer: The correct answer was B!
  An increase in its marketing budget.
  The percentage change in a firm’s market share is directly proportional to the percentage change in its marketing expenditures. An increase in the overall number of cars sold would not necessarily change Ford’s market share. New competition would be negative, as would war, as Ford’s share of the SUV market (gas guzzlers) is large.
  Explanations of terms:(10 points)
  1. Official interest rate :Official interest rate is the rate set by the central bank or monetary authorities. The interest rate is one of levers used by governments to regulate economy.
  2. Fiat money:Money proclaimed to be money by fiat or government decree is sometimes called fiat money.
  3. GDP:The monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.
  4. Mean:A measure of central tendency of the probability distribution of a random variable that equals the weighted average of all possible outcomes using their probabilities as weights.
  5. Primary markets:Financial markets in which newly issued debt or equity claims are sold to initial buyers by private borrowers to raise funds for durable-goods purchases or new ventures and by governments to finance budget deficits.
  Question3:
  Answer:
  Since the Great Depression of the 1930s, governments have actively pursued the goal of economic stability at full employment. Known as internal balance, this objective has two dimensions; (D a fully employed economy, and ?no inflation—or, more realistically, a reasonable amount of inflation. Nations traditionally have considered internal balance to be of primary importance and have formulated economic policies to attain this goal.
  Policy makers are also aware of a nation’s balance-of-payments (BOP) position. A nation is said to be an in external balance when it realizes neither BOP deficits nor BOP surpluses. In practice, policy makers usually express external balance in terms of a BOP sub account, such as the current account. In this context, external balance occurs when the current account is neither so deeply in deficit that the home nation is incapable of repaying its foreign debts in the future nor so strongly in surplus that foreign nations cannot repay their debts to it. Although nations usually consider internal balance to be the highest priority, they are sometimes forced to modify priority when confronted with large and persistent external imbalances.
  Question 4
  Answer:
  The money markets are wholesale markets where most securities trade in large denominations. This characteristic effectively blocks most individuals from investing directly in these securities. However, the markets usually find a way to correct for such deficiencies, especially when potential customers are available. Money market mutual funds represent one such correction. 首页 1 2 尾页
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