金融学练习8

满分分数参加⼈数教师批语

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一 单项选择题

试题1

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If there are four goods in a barter economy, then one needs to know ________ prices in order to exchangeone good for another.

A) 8 B) 6 C) 5 D) 4[参] B) 6[我的答案] B) 6试题2

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If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good foranother. If, however, there are ten goods in a barter economy, then one needs to know ________ prices inorder to exchange one good for another.

A) 20 B) 25 C) 30 D) 45[参] D) 45[我的答案] D) 45试题3

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In a barter economy the number of prices in an economy with N goods is

A) [N(N - 1)]/2. B) N(N/2). C) 2N. D) N(N/2) - 1.

[参] A) [N(N - 1)]/2.[我的答案] A) [N(N - 1)]/2.试题4

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A problem with barter exchange when there are many goods is that in a barter system

A) transactions costs are minimized.

B) there exists a multiple number of prices for each good. C) there is only one store of value. D) exchange of services is impossible.

[参] B) there exists a multiple number of prices for each good.[我的答案] B) there exists a multiple number of prices for each good.试题5

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When money prices are used to facilitate comparisons of value, money is said to function as a

A) unit of account. B) medium of exchange. C) store of value. D) payments-system ruler.[参] A) unit of account.[我的答案] A) unit of account.试题6

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Kevin purchasing concert tickets with his debit card is an example of the ________ function of money.

A) medium of exchange B) unit of account C) store of value D) specialization

[参] A) medium of exchange[我的答案] A) medium of exchange试题7

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All but the most primitive societies use money as a medium of exchange, implying that

A) the use of money is economically efficient. B) barter exchange is economically efficient. C) barter exchange cannot work outside the family. D) inflation is not a concern.

[参] A) the use of money is economically efficient.[我的答案] A) the use of money is economically efficient.试题8

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Whatever a society uses as money, the distinguishing characteristic is that it must

A) be completely inflation proof.

B) be generally acceptable as payment for goods and services or in the repayment of debt. C) contain gold.

D) be produced by the government.

[参] B) be generally acceptable as payment for goods and services or in the repayment of debt.

[我的答案] B) be generally acceptable as payment for goods and services or in the repayment of debt.试题9

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All of the following are necessary criteria for a commodity to function as money except

A) it must deteriorate quickly. B) it must be divisible. C) it must be easy to carry. D) it must be widely accepted.[参] A) it must deteriorate quickly.[我的答案] A) it must deteriorate quickly.试题10

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For a commodity to function effectively as money it must be

A) easily standardized, making it easy to ascertain its value. B) difficult to make change.

C) deteriorate quickly so that its supply does not become too large. D) hard to carry around.

[参] A) easily standardized, making it easy to ascertain its value.[我的答案] A) easily standardized, making it easy to ascertain its value.试题11

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Money ________ transaction costs, allowing people to specialize in what they do best.

A) reduces B) increases C) enhances D) eliminates[参] A) reduces[我的答案] A) reduces试题12

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When economists say that money promotes ________, they mean that money encourages specialization andthe division of labor.

A) bargaining B) contracting C) efficiency D) greed

[参] C) efficiency[我的答案] C) efficiency试题13

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Which of the following statements best explains how the use of money in an economy increases economicefficiency?

A) Money increases economic efficiency because it is costless to produce. B) Money increases economic efficiency because it discourages specialization. C) Money increases economic efficiency because it decreases transactions costs. D) Money cannot have an effect on economic efficiency.

[参] C) Money increases economic efficiency because it decreases transactions costs.[我的答案] C) Money increases economic efficiency because it decreases transactions costs.试题14

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The conversion of a barter economy to one that uses money

A) increases efficiency by reducing the need to exchange goods and services. B) increases efficiency by reducing the need to specialize. C) increases efficiency by reducing transactions costs. D) does not increase economic efficiency.

[参] C) increases efficiency by reducing transactions costs.[我的答案] C) increases efficiency by reducing transactions costs.试题15

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When compared to exchange systems that rely on money, disadvantages of the barter system include:

A) the requirement of a double coincidence of wants. B) lowering the cost of exchanging goods over time.

C) lowering the cost of exchange to those who would specialize. D) encouraging specialization and the division of labor.[参] A) the requirement of a double coincidence of wants.[我的答案] A) the requirement of a double coincidence of wants.试题16

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Compared to an economy that uses a medium of exchange, in a barter economy

A) transaction costs are higher. B) transaction costs are lower. C) liquidity costs are higher. D) liquidity costs are lower.

[参] A) transaction costs are higher.[我的答案] A) transaction costs are higher.试题17

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________ are the time and resources spent trying to exchange goods and services.

A) Bargaining costs. B) Transaction costs. C) Contracting costs. D) Barter costs.

[参] B) Transaction costs.[我的答案] B) Transaction costs.

试题18满分值：1.0分 状态：已答 实际得分：1.0分

If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts are

A) bank deposits. B) reserves. C) money. D) loanable funds.[参] C) money.[我的答案] C) money.试题19

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Of money’s three functions, the one that distinguishes money from other assets is its function as a

A) store of value. B) unit of account.

C) standard of deferred payment. D) medium of exchange.[参] D) medium of exchange.[我的答案] D) medium of exchange.试题20

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Which of the following statements uses the economists’ definition of money?

A) I plan to earn a lot of money over the summer. B) Betsy is richshe has a lot of money.

C) I hope that I have enough money to buy my lunch today.

D) The job with New Company gave me the opportunity to earn more money.[参] C) I hope that I have enough money to buy my lunch today.[我的答案] C) I hope that I have enough money to buy my lunch today.试题21

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Which of the following is a true statement?

A) Money and income are flow variables. B) Money is a flow variable. C) Income is a flow variable.

D) Money and income are stock variables.[参] C) Income is a flow variable.[我的答案] C) Income is a flow variable.试题22

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The difference between money and income is that

A) money is a flow and income is a stock. B) money is a stock and income is a flow.

C) there is no differencemoney and income are both stocks. D) there is no differencemoney and income are both flows.

[参] B) money is a stock and income is a flow.[我的答案] B) money is a stock and income is a flow.试题23

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When we say that money is a stock variable, we mean that

A) the quantity of money is measured at a given point in time. B) we must attach a time period to the measure. C) it is sold in the equity market. D) money never loses purchasing power.

[参] A) the quantity of money is measured at a given point in time.[我的答案] B) we must attach a time period to the measure.试题24

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An individual’s annual salary is her

A) money. B) income. C) wealth. D) liabilities.[参] B) income.[我的答案] B) income.试题25

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________ is a flow of earnings per unit of time.

A) Income B) Money C) Wealth D) Currency[参] A) Income[我的答案] A) Income试题26

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________ is used to make purchases while ________ is the total collection of pieces of property that serve tostore value.

A) Money; income B) Wealth; income C) Income; money D) Money; wealth[参] D) Money; wealth[我的答案] D) Money; wealth试题27

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A person’s house is part of her

A) money. B) income. C) liabilities. D) wealth.[参] D) wealth.[我的答案] D) wealth.试题28

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The total collection of pieces of property that serve to store value is a person’s

A) wealth. B) income. C) money. D) credit.

[参] A) wealth.[我的答案] A) wealth.试题29

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Even economists have no single, precise definition of money because

A) money supply statistics are a state secret.

B) the Federal Reserve does not employ or report different measures of the money supply. C) the \"moneyness\" or liquidity of an asset is a matter of degree.

D) economists find disagreement interesting and refuse to agree for ideological reasons.[参] C) the \"moneyness\" or liquidity of an asset is a matter of degree.[我的答案] C) the \"moneyness\" or liquidity of an asset is a matter of degree.试题30

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Currency includes

A) paper money and coins. B) paper money, coins, and checks. C) paper money and checks.

D) paper money, coins, checks, and savings deposits.[参] A) paper money and coins.[我的答案] A) paper money and coins.试题31

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Money is

A) anything that is generally accepted in payment for goods and services or in the repayment of debt. B) a flow of earnings per unit of time.

C) the total collection of pieces of property that are a store of value. D) always based on a precious metal like gold or silver.

[参] A) anything that is generally accepted in payment for goods and services or in the repayment of debt.[我的答案] A) anything that is generally accepted in payment for goods and services or in the repayment of debt.

试题32满分值：1.0分 状态：已答 实际得分：1.0分

To an economist, ________ is anything that is generally accepted in payment for goods and services or in therepayment of debt.

A) wealth B) income C) money D)credit

[参] C) money[我的答案] C) money试题33

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Because it is a unit of account, money

A) increases transaction costs.

B) reduces the number of prices that need to be calculated. C) does not earn interest. D) discourages specialization.

[参] B) reduces the number of prices that need to be calculated.[我的答案] B) reduces the number of prices that need to be calculated.试题34

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People hold money even during inflationary episodes when other assets prove to be better stores of value.This can be explained by the fact that money is

A) extremely liquid.

B) a unique good for which there are no substitutes. C) the only thing accepted in economic exchange. D) backed by gold.

[参] A) extremely liquid.[我的答案] A) extremely liquid.试题35

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Ranking assets from most liquid to least liquid, the correct order is

A) savings bonds; house; currency. B) currency; savings bonds; house. C) currency; house; savings bonds. D) house; savings bonds; currency.[参] B) currency; savings bonds; house.[我的答案] B) currency; savings bonds; house.试题36

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Of the following assets, the least liquid is

A) stocks.

B) traveler's checks.

C) checking deposits. D) a house.[参] D) a house.[我的答案] D) a house.试题37

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Since it does not have to be converted into anything else to make purchases, ________ is the most liquidasset.

A) money B) stock C) artwork D) gold

[参] A) money[我的答案] A) money试题38

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Increasing transactions costs of selling an asset make the asset

A) more valuable. B) more liquid. C) less liquid. D) more moneylike.[参] C) less liquid.[我的答案] C) less liquid.试题39

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________ is the relative ease and speed with which an asset can be converted into a medium of exchange.

A) Efficiency B) Liquidity C) Deflation D) Specialization[参] B) Liquidity[我的答案] B) Liquidity试题40

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Patrick places his pocket change into his savings bank on his desk each evening. By his actions, Patrickindicates that he believes that money is a

A) medium of exchange. B) unit of account. C) store of value. D) unit of specialization.[参] C) store of value.[我的答案] C) store of value.

试题41满分值：1.0分 状态：已答 实际得分：1.0分

Dennis notices that jackets are on sale for $99. In this case money is functioning as a ________.

A) medium of exchange B) unit of account C) store of value D) payments-system ruler[参] B) unit of account[我的答案] B) unit of account