2022年陕西金融英语考试考前冲刺卷.docx

2022年陕西金融英语考试考前冲刺卷本卷共分为1大题50小题，作答时间为180分钟，总分100分，60分及格。一、单项选择题（共50题，每题2分。每题的备选项中，只有一个最符合题意） 1.Which of the following is most likely to occur in the short run if there is an unanticipated decrease in aggregate demand due to a reduction in business and consumer optimism （）A. An increase in the rate of unemployment.B. An increase in real GDP.C. A higher rate of inflation.2.The kinked demand model assumes that at prices above the current price, the demand curve becomes:（）A. more elastic because competitors will increase their prices.B. less elastic because competitors will not increase their prices.C. more elastic because competitors will not increase their prices.3.If investors expected future incomes increase, all else constant, interest rates will:（）A. fall, while an increase in the demand for financial capital will cause rates to rise.B. rise, while an increase in the demand for financial capital will cause rates to fall.C. rise, while an increase in the demand for financial capital will also cause rates to rise.4.Which of the following is least accurate regarding the allocative efficiency associated with price discrimination Price discrimination:（）A. results in gains to the discriminating firm by selling to consumers with relatively inelastic demand.B. increases production closer to the quantity where price equals marginal cost.C. leads to a decrease in allocative efficiency.5.The demand curves faced by monopolistic competitors is:（）A. inelastic due to the availability of many complementary goods.B. elastic due to the availability of many close substitutes.C. flat due to the allocative efficiency of price searcher markets.6.The short-run supply curve for a price taker firm is the portion of the marginal:（）A. cost (MC) curve below the average variable cost (AVC) curve.B. cost (MC) curve above the average total cost (ATC) curve.C. cost (MC) curve above the average variable cost (AVC) curve.7.Which of the following characteristic of perfect competition explains why firms in perfect competition are referred to as price takers（）A. Each firm is small relative to the total market.B. The demand curve is horizontal for firms in perfect competition.C. There are many independent firms.8.Which of the following is the most accurate definition of the unemployment rate The unemployment rate is the number of:（）A. unemployed individuals divided by the number of employed individuals.B. unemployed individuals divided by the total labor force.C. unemployed individuals divided by the number of individuals employed plus the number of people in retirement.9.Monetarists believe that:（）A. shifts in aggregate demand arise from changes in expectations.B. monetary policy has a significant impact on aggregate demand.C. money wages tend to adjust quickly when aggregate supply and aggregate demand are in disequilibrium.10.Which of the following is least likely to be considered a necessary condition for a monopolist to realize profits from price discrimination（）A. A product for which the demand curve is downward sloping.B. At least two groups of customers, each with a different price elasticity of demand.C. Two different costs of production.11.Which of the following is the most likely result of a technological improvement in a perfectly competitive industry（）A. Individual firms’ supply curves shift to the left.B. The industry supply curve shifts to the right.C. The costs for individual firms increase.12.If the economy is in short-run equilibrium above the full-employment level of output, what is the most likely adjustment that will restore the economy to long-run equilibrium （）A. Money wages and resource prices will increase.B. The price level for final goods and services will decrease.C. Long-run aggregate supply will increase.13.An economist is developing a regression model of real GDP as a function of labor input. She needs to select a time series that represents the total amount of labor performed in a year. Which of the following is the most appropriate indicator of total labor performed that she can use for this model（）A. Aggregate hours.B. Average workweek.C. Number of employed.14.When incomes in foreign countries increase, aggregate demand in the U.S. is likely to:（）A. Increase because foreign consumers will tend to buy more U.S. export goods.B. Decrease because U.s. interest rates will tend to increase.C. Increase because U.S. interest rates will tend to decrease.15.During a recent in-house seminar at United Banks of Davos, Helmut Fahrstadt, the seminar leader, was discussing the business cycle and its phases. He made the following statement: "During a recession one should expect an economys real GDP to increase, its rate of inflation to increase, and its rate of employment to fall. " Is the statement made by Fahrstadt correct as it pertains to real GDP, inflation and the rate of employment Real GDP Rate of Inflation Rate of Employment（）A. Correct Incorrect Incorrect B. Incorrect Correct Incorrect C. Incorrect Incorrect CorrectA. B. C. 16.Keith Keeley, an associate at Friedman, Harris, and Levinsky LLC, was requested by a Managing Director of the firm to help construct the consumer price index (CPI). Keeley sought to determine which goods and services to include in the index by observing what a typical U. S. household purchases. He then took a large survey of individuals to determine what percentage of their disposable income they spend on each of the items and used these percentages as the weights for the major categories in the CPI. The steps that Keeley undertook are all part of which stage in constructing the CPI index（）A. Select the CPI basket.B. Calculate the CPI.C. Conduct the monthly price survey.17.Price discrimination is most accurately defined by which of the following Price discrimination is the practice of charging different consumers different prices for:（）A. similar products that have identical per-unit production costs.B. products that have identical price elasticities of demand.C. the same product or service.18.If the market demand for a product decreases in a competitive market, then the quantity supplied by an individual firm will:（）A. decrease and firms will exit the market in the long run.B. decrease and firms will enter the market in the long run.C. increase and firms will enter the market in the long run.19.For price discrimination to work, the seller must face a market with all of the following characteristics EXCEPT:（）A. high barriers to entry.B. a downward sloping demand curve.C. two or more identifiable groups of customers with different price elasticities of demand for the product.20.The demand for a given resource will most likely decrease if the prices of substitute resources and complementary resources, respectively: Prices of substitute resources Prices of complementary resources（） A. Increase Increase B. Increase Decrease C. Decrease IncreaseA. B. C. 21.Is monopolistic competition a market in which: each seller produces a differentiated product compete on price, quality, marketing（）A. No No B. No Yes C. Yes YesA. B. C. 22.Consider the following statements: Statement 1: "The kinked demand curve model of oligopoly assumes that a decrease in price will not be followed by other firms in the industry, but a price increase will. " Statement 2: "Finns in monopolistic competition have high advertising expenses because they want to create the perception that their product is different from their competitors products when the competing products are actually quite similar. " Which of the following best describes the accuracy of these statements Statement 1 Statement 2 （）A. Correct Incorrect B. Incorrect Correct C. Correct CorrectA. B. C. 23.The consumer price index tends to:（）A. overstate the inflation rate, because its market basket is fixed and does not consider that consumers will substitute away from goods that have risen dramatically in price.B. overstate the inflation rate because its market basket is variable and takes into consideration that consumers will substitute away from goods that have risen dramatically in price.C. understate the inflation rate because its market basket is fixed and does not consider that consumers will substitute away from goods that have risen dramatically in price.24.Which of the following statements about a monopolist is least accurate（）A. The monopolist faces a downward sloping demand curve.B. Unlike an oligopolist, a monopolist will always be able to earn economic profit.C. A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.25.Which of the following statements is least accurate with regard to the efficiency of monopolistic competition （）A. Consumers benefit from brand name promotion and advertising.B. Promotion and advertising enable consumers to make more informed decisions.C. Monopolistic competition is at least as efficient as perfect competition.26.Which of the following choices best describes the effects on consumption, investment, and net exports that would result from an increase in the price level, other factors held constant Consumption Investment Net exports（）A. Decrease Decrease Decrease B. Decrease Increase Increase C. Increase Decrease DecreaseA. B. C. 27.Which of the following is least relevant when explaining why monopoly firms can earn positive economic profits over the long term（）A. The ability to use price discrimination.B. The existence of economies of scale.C. Control over production input resources.28.Monopolistic competition differs from pure monopoly in that:（）A. monopolists maximize profits and monopolistic competitors do not.B. monopolistic competitors face a downward-sloping demand curve and monopolists do not.C. monopolistic competitors have low barriers to entry and monopolists do not.29.Are the following two statements about the elasticity of labor demand correct Statement 1: Labor demand is more elastic in the short run than in the long run because other factors of production are fixed in the short run. Statement 2: The more labor-intensive a firms production processes, the more elastic the firms demand for labor will be. Statement 1 Statement 2 （）A. Correct Correct B. Correct Incorrect C. Incorrect CorrectA. B. C. 30.The short-run supply curve to a firm operating under perfect competition is most accurately described as the segment of the:（）A. marginal cost curve below the average total cost curve.B. average total cost curve above the marginal cost curve.C. marginal cost curve above the average variable cost curve.31.Compared to a competitive market, a monopoly situation will produce:（）A. less output, and the sum of the consumer surplus and the producer surplus will be reduced.B. more output, and the sum of the consumer surplus and the producer surplus will be reduced.C. less output, and the sum of the consumer surplus and the producer surplus will be increased.32.If a profit maximizing firm finds that its marginal revenue exceeds its marginal cost, it should:（）A. increase output if it is a price taker, but not if it is a price searcher.B. decrease output, regardless of whether it is a price taker or a price searcher.C. increase output, regardless of whether it is a price taker or a price searcher.33.North Shore Excursions faces a downward sloping demand curve, hasthree identifiable customer groups with the same elasticity of demand, and can prevent resale of the product. Can North Shore profit from pricediscrimination and in general, does a firm that engages in pricediscrimination achieve more gains from customers with elastic or with inelastic demand Can North Shore profit Higher gain from customers with:（）A. Yes Elastic demand B. Yes Inelastic demand C. No Inelastic demandA. B. C. 34.In a perfectly competitive industry, the short-run supply curve for the market is the:（）A. marginal cost curve above the average variable cost curve.B. sum of the individual supply curves for all firms in the industry. C. average variable cost curve above the marginal cost curve. 35.The current annual inflation rate, as measured by using the Consumer Price Index (CPI), is best defined as:（）A. increase in the CPI from a year ago.B. percentage change in the CPI from its base period.C. percentage change in the CPI from a year ago.36.Which of the following most accurately describes the Monetarist school of macroeconomic thought in relation to aggregate demand and aggregate supply Monetarists believe that the money supply should be:（）A. Increased during inflationary periods and reduced during recessionary periods.B. Increased by a constant rate annually.C. Reduced during inflationary periods and increased during recessionary periods.37.Which of the following statements concerning aggregate demand is most accurate（）A. When price levels rise, real wealth increases, and individuals will spend more.B. When price levels rise, real wealth decreases, and individuals will spend less.C. When price levels fall, real wealth increases, and individuals will spend less.38.Are the following two statements about the marginal revenue product (MRP) of a factor of production correct Statement 1: In a price taker market, the MRP of an input is the marginal product of the input multiplied by the price of the output it generates. Statement 2: If we compare any two productive inputs, the one with the higher MRP will earn greater economic rent. Statement 1 Statement 2（）A. Correct Correct B. Incorrect Correct C. Correct IncorrectA. B. C. 39.Which of the following statements regarding the supply of labor is least accurate（）A. The income effect of a wage increase is to decrease the amount of labor supplied.B. Capital goods that increase productivity in the home can affect the supply of labor positively.C. Other things equal, an increase in the wage rate will lead to an increase in the amount of labor an individual will supply.40.Which of the following most accurately describes why firms under monopolistic competition face elastic demand for their products（）A. High barriers to entry.B. The availa