Multiple Choice Questions

新概念英语第三册课后题及答案Lesson1新概念英语第三册答案第1课Multiple choice questions 多项选择1… 准确答案：Din common adv.共有（替换了similar）2… 准确答案：BA）仅仅一个具体的特定的事列，阅读理解题的时候要把握中心大意B）?large?catpersuade v.说服, 劝说3… 答案准确：C?做理解题时要紧扣主题、紧扣中心大意文章最后一句话总结了大意句型结构题和词汇题是每课的关键4… 答案准确：C?Make的用法：make?somebody?do（在主动语态中不定式的符号to应该省略）be?made?to?do（被动语态中不定式的符号to必须补充完整）-- They made her wait for hours. à She was made to wait for hours.5… 答案准确： D?A）把say改成claim就对了（--People?claimed?to?have?seen?the?puma.）D）清楚的道明了动作发生的先后关系6… 准确答案：B原句中的?when引导的时间状语从句表示：－...就…（as?soon?as）被动：On being observed, it immediately ran away.主动：On?observing?her, it?immediately?ran?away.On seeing me, he waved to me.7… 准确答案：Dexcept能够和名词/名词性从句实行搭配（也不过when/if引导的从句形式）unless = if...not = except on the condition that…when = if-- …except when they are cornered. = …except if they are cornered.-- Whenever you come, you are welcome. = If ever you come, you are welcome.8… 准确答案：DA）must?be仅仅对客观现实的推测，时态不一致-- 对于过去事实推测一定要用：情态动词+ have +过去分词9… 准确答案：Con more than = nothing more than = only / within = not more than10… 准确答案：Bin?a?corner 偷偷摸摸地, 暗中地, 秘密地in?a?trap 落于陷阱中at an angle 不正的, 倾斜的（angle n.角, 角度, 角落, 墙角, 棱角）under cover 在遮蔽处, 秘密地, 暗中11... 准确答案：Bfishes?for?pleasure 钓鱼消遣travel for pleasure 外出游玩read for pleasure 阅读消遣12…on one’s own adv.独自地, 独立地, 主动地（= alone）for one’s own benefit 为了某人自己的利益。

Multiple Choice Questions. Choose the best answer(1) Which of the following occurs with perfectly price discriminating monopolies?A) The level of output is inefficient.B) All consumer surplus goes to the monopoly.C) Deadweight loss is created.D) Firms earn zero economic profits.E) None of the above.(2) Firms in monopolistic competition make products that areA) perfect complements.B) close but not perfect complements.C) perfect substitutes.D) close but not perfect substitutes.(3) In monopolistic competition, each firm’s marginal revenue curve lies ____ its demand curve because of ____.A) below ; barriers to entryB) below; product differentiationC) above; barriers to entryD) above; product differentiation(4) In monopolistic competition, each firm has a demand curve with A) a negative slope, and there are no barriers to entry into the market.B) a slope equal to zero, and there is are no barriers to entry into the market.C) negative slope, and there are barriers to entry into the market.D) a slope equal to zero, and there are barriers to entry into the market.(5) In the short run, a monopolistically competitive firm choosesA) both its price and its quantity.B) its price but not its quantity.C) its quantity but not its price.D) neither its price nor its quantity.(6) In monopolistic competition, firms can earn an economic profit inA) the short run and in the long run.B) the short run but not in the long run.C) the long run but not in the short run.D) neither the long run nor the short run.(7) The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is $8, in the short run the firm willA) earn a normal profit.B) earn an economic profit.C) incur an economic loss.D) None of the above answers is correct because more information is needed to determine the firm’s profit or loss.(8) In the long run, the economic profits of a firm in a perfectly competitive industryA) will be above zero.B) will be below zero.C) will equal zero.D) can be above, below, or equal to zero.(9) A perfectly competitive firm is definitely earning an economicprofit whenA) MR < MC.B) P > ATC.C) P < ATC.D) P > AVC.(10) Paul runs a shop that sells printers. Paul is a perfect competitor and can sell each printer for a price of $300. The marginal cost of selling one printer a day is $200; the marginal cost of selling a second printer is $250; and the marginal cost of selling a thirdprinter is $350. To maximize his profit, Paul should sellA) one printer a day.B) two printers a day.C) three printers a day.D) more than three printers a day.(11) Suppose firms in a perfectly competitive industry are suffering aneconomic loss. Over time,A) other firms enter the industry, so the price rises and the economic loss decreases.B) some firms leave the industry, so the price rises and the economic loss decreases.C) other firms enter the industry, so the price falls and the economic loss decreases.D) some firms leave the industry, so the price falls and the economic loss decreases.(12) The market for lawn services is perfectly competitive. Larry’s Lawn Service cannot increase its total revenue by raising its price because ____.A) Larry’s supply of lawn services is perfectly inelasticB) the demand for Larry’s services is perfectly inelasticC) Larry’s supply of lawn services is inelasticD) the demand for Larry's services is perfectly elastic(13) The apple industry is perfectly competitive and is in long-run equilibrium. Now a disease kills 50 percent of the apple orchards. In the short run, the price of a bag of apples ____ and the remainingapple growers make ____ profits. In the long run, the ____.A) increases; normal; price of apples will return to their originallevelB) remains the same; normal; orchards will be replanted and growerswill make normal profitsC) increases; normal; orchards will be replanted and economic profitwill return to zeroD) increases; positive economic; orchards will be replanted and economic profit will return to zero(14) The following are key features of a monopoly EXCEPTA) the monopoly is protected by a barrier to entry.B) no close substitutes exist for the good or service.C) the monopoly has a strong influence over the price of the good or service.D) the monopoly has diseconomies of scale.(15) An industry in which one firm can supply the entire market at a lower price than two or more firms can is called aA) legal monopoly.B) natural monopoly.C) single-price monopoly.D) price-discriminating monopoly.(16) Which of the following is true of a natural monopoly?A) Its long-run average cost curve slopes upward as it intersects the demand curve.B) Economies of scale exist to only a very low level of output.C) The firm can supply the entire market at a lower cost than could two or more firms.D) The firm is not protected by any barrier to entry.(17) Monopolies can earn an economic profit in the long run because ofA) rent seeking by competitors.B) the elastic demand for the monopoly’s product.C) the cost-savings gained by the monopoly.D) barriers to enter the monopoly’s market.(18) In comparison with a perfect competition, a single-price monopolist with the same costsA) generates a smaller consumer surplus but a larger economic profit.B) generates a smaller consumer surplus and a smaller economic profit.C) generates a larger consumer surplus and a larger economic profit.D) generates a larger consumer surplus and a smaller economic profit.(19) Which of the following market structures is likely to produce the highest output for a given good?(A)monopoly(B)oligopoly(C)monopolistic competition(D)perfect competitionUse the above figure for questions 20 and 21.20) The unregulated, single-price monopoly shown in the figure above has a total economic profit ofA) $24.B) $16.C) $8.D) $4.(21) For the unregulated, single-price monopoly shown in the figure above, when its profit is maximized, output will beA) 4 units per year and the price will be $6.B) 4 units per year and the price will be $4.C) 6 units per year and the price will be $4.D) None of the above answers is correct.(22) Which area(s) in the above figure indicates consumer surplus at the price and quantity that would be attained if the industry were perfectly competitive?A) A + B + C + DB) A + B + C + D + EC) F + G + HD) A + B + C + D + E + F + G + H(23) Which area(s) in the above figure indicates consumer surplus at the price and quantity that would be set by a single-price monopoly?A) A + BB) A + B + C + D + EC) C + DD) C + D + E + F + G + H(24) In the above figure, which area is the deadweight loss from a single-price monopoly?A) EB) E + HC) E + H + KD) E + H + K + J(25) Monopolists are able to practice price discrimination becauseA) of differing willingness-to-pay among consumers.B) of differing price elasticities of supply.C) they have constant marginal cost.D) they have constant average cost.(26) In perfect competition,A) each firm can influence the price of the good.B) there are few buyers.C) there are significant restrictions on entry.D) all firms in the market sell their product at the same price.Note: the Price of the good in the perfectly competitive market is $12 per unit.Use the above figure for questions (27),(28) and (29).(27) In the above figure, the curve represented by the"2" is theA) average fixed cost.B) average variable cost.C) total cost.D) average total cost.(28) In the above figure, the firm’s total economicprofit is equal toA) $260.B) $1300C) $1560.D) MR – MC.E) none of the above(29) Firms will shut down if the market price isA) at 12B) below 12C) below 10D) below 8(30) A competitive firm is more likely to shut down during a recession, when the demand for its product declines, than during an economic expansion, because during the recession it might be unable to cover itsA) fixed costs.B) variable costs.C) external costs.D) depreciation due to machinery becoming obsolete.(31) In the above figure, if the price is P1, the firm will produceA) nothing.B) where MC equals ATC.C) where MC equals P1.D) where ATC equals P1.Use the above figure for questions (32) and (33).(32) The firm in the figure above is in monopolistic competition. It will set a price equal toA) $1.B) $2.C) $3.D) more than $3.(33) The above figure depicts a firm in monopolistic competition. At the profit maximizing level of output,A) the firm is making economic profit.B) the firm incurs an economic loss.C) the firm is making zero economic profit.D) this firm would choose to shut down in the short run.Factor of inputs (questions (34), (35), (36) and (37))(34) The marginal revenue product (MRP) of labor is the extra revenue generated byA) selling an additional unit of output.B) raising the price of the product by one dollar.C) hiring one additional unit of labor.D) price discrimination.(35) Marginal revenue product equals marginal productA) times the quantity of labor.B) divided by the quantity of labor.C) times the price if the goods are sold in perfect competition.D) divided by the good’s price.(36) In the table above, the marginal revenue product of the third unit of labor is (Hint: find MR and MPL first)A) $3.B) $4.C) $12.D) $16.(37) In the table above, if the wage rate is $8.00 per hour, theprofit-maximizing number of workers isA) 1.B) 2.C) 4.D) 5.E) none of the above(38) The best example of an oligopoly market can be described byA) wheat farming.B) the restaurant industry.C) long-distance telephone service.D) the clothing industry.(39) In an oligopoly with a collusive agreement (i.e. firms gettogether to set price and output level), the total industry profitswill be smallest whenA) all firms comply with the agreement.B) one firm cheats on the agreement and the other firms do not cheat.C) all firms cheat on the agreement.D) the firms act as a monopoly.(40) Price wars areA) most likely when there is a monopoly.B) most likely when there is oligopoly.C) most likely when there is perfect competition.D) equally likely in the cases of monopoly, oligopoly,and perfect competition.Answer Key for the last exercise questions: 1-5: b,d,b,a,a6-10: b,c,c,b,b11-15: b,d,d,d,b16-20: c,d,a,d,c21-25: a,b,a,b,a26-30: d,b,e,d,a31-35: c,c,c,c,c36-40: c,c,c,c,b。

Multiple Choice Questions 1Question1The general role of an operating system is to:选择一个答案a. Provide a set of services to system usersb. Manage files for application programsc. Act as an interface between various computersd. None of the aboveFeedback:A. 为系统用户提供一系列服务B. 为应用程序管理文件(这显然不是)C. 作为多台计算机间的接口(应该是CPU与硬件之间的接口)D. errorQuestion2Information that must be saved prior to the processor transferring control to the interrupt handler routine includes:选择一个答案a. Program Status Word (PSW) & Contents of processor registersb. Program Status Word (PSW)c. None of the aboved. Program Status Word (PSW) & Location of next instructionFeedback:D.程序状态字和下个指令的位置P14Question3One accepted method of dealing with multiple interrupts is to:选择一个答案a. Service them in round-robin fashionb. Disable all interrupts except those of highest priorityc. None of the aboved. Define priorities for the interruptsFeedback:处理多个中断的方法P18The first is to disable interrupts while an interrupt is being processed.A second approach is to define priorities for interrupts and to allow an interrupt of higher priority to cause a lower-priority interrupt handler to be interrupted.A. 轮循服务(显然错误)B. 只服务优先级高的，忽视优先级低的C. errorD. 为这些中断定义优先级Question4In a uniprocessor system(单处理器系统), multiprogramming(多道程序设计) increases processor efficiency by:选择一个答案a. Taking advantage of time wasted by long wait interrupt handlingb. Eliminating all idle processor cyclesc. All of the aboved. Increasing processor speedFeedback:A.利用等待中断的时间P18Question5As one proceeds down the memory hierarchy (i.e., from inboard memory to offline storage), the following condition(s) apply:选择一个答案a. Decreasing capacityb. Increasing access timec. All of the aboved. Increasing cost per bitFeedback:A.容量↑B.访问时间↑C.errorD.价格↓Question6Small, fast memory located between the processor and main memory is called选择一个答案a. WORM memoryb. CD-RW memoryc. None of the aboved. Cache memoryFeedback:D.存储器的层次结构由上至下依次为：寄存器(processer)，高速缓存，主存储器(memory)，磁盘，磁带Question7When a new block of data is written into cache memory, the following determines which cache location the block will occupy:选择一个答案a. None of the aboveb. Cache sizec. Block sized. Write policyFeedback:Nothing will change.高速缓冲存储器设计：cache size，block size,mapping function,replacement algorithm,writepolicy.Question8The four main structural elements of a computer system are:选择一个答案a. None of the aboveb. Processor, Registers, Main Memory & System Busc. Processor, Main Memory, I/O Modules & System Busd. Processor, Registers, I/O Modules & Main MemoryFeedback:计算机有四个主要的结构化部件：处理器、主存储器、输入/输出模块、系统总线P6Question9The two basic types of processor registers are:选择一个答案a. User-visible and Control/Status registersb. Control and Status registersc. User-visible and user-invisible registersd. None of the aboveFeedback:用户可见寄存器：数据寄存器、地址寄存器、索引寄存器、段指针、栈指针控制和状态寄存器：程序计数器PC、指令寄存器IRQuestion10Address registers may contain选择一个答案a. Partial memory addressesb. Memory addresses of datac. Memory addresses of instructionsd. All of the aboveFeedback:A.辅存地址B.数据的主存储器地址C.指令的主存储器地址Question11A Control/Status register that contains the address of the next instruction to be fetched is called the:选择一个答案a. Program Counter (PC)b. All of the abovec. Instruction Register (IR)d. Program Status Word (PSW)Feedback:A. Program counter (PC) = Address of instructionC. Instruction register (IR) = Instruction being executedD. Program Status Word (PSW) = contains status informationQuestion12The two basic steps used by the processor in instruction processing are:选择一个答案a. None of the aboveb. Fetch and Instruction cyclesc. Fetch and Execute cyclesd. Instruction and Execute cyclesFeedback:In its simplest form, instruction processing consists of two steps: The processor reads (fetches) instructions from memory one at a time and executes each instruction. P9Question13A fetched instruction is normally loaded into the:选择一个答案a. Accumulator (AC)b. None of the abovec. Instruction Register (IR)d. Program Counter (PC)Feedback:Instruction register (IR) = Instruction being executedA. Accumulator (AC) = Temporary storage 临时存储体Question14A common class of interrupts is选择一个答案a. Programb. I/Oc. Timerd. All of the aboveFeedback:Classes of interrupts:Program, Timer, I/O, Hardware failureQuestion15When an external device becomes ready to be serviced by the processor, the device sends this type of signal to the processor:选择一个答案a. Handler signalb. None of the abovec. Interrupt signald. Halt signalFeedback:请求中断信号Multiple Choice Questions 2Question1A primary objective of an operating system is:选择一个答案a. Ability to evolveb. Conveniencec. Efficiencyd. All of the aboveFeedback:操作系统的三个主要目标：方便，有效，扩展的能力Question2The paging system in a memory management system provides for dynamic mapping between a virtual address used in a program and:选择一个答案a. A real address in a programb. None of the abovec. A virtual address in main memoryd. A real address in main memoryFeedback：The paging system provides for a dynamic mapping between the virtual address used in the program and a real address, or physical address, in mainmemory. P51Question3Relative to information protection and security in computer systems, access control typically refers to:选择一个答案a. The flow of data within the systemb. Proving that security mechanisms perform according to specificationc. Regulating user and process access to various aspects of the systemd. None of the aboveFeedback：调节用户和进程对系统方方面面的访问权限Question4A common problem with full-featured operating systems, due to their size and difficulty of the tasks they address, is:选择一个答案a. Sub-par performanceb. Chronically late in deliveryc. All of the aboved. Latent bugs that show up in the fieldFeedback：一个功能完善的操作系统的大小和它所处理任务的困难性，导致了四个让人遗憾但又普遍存在的问题：①操作系统在交付使用时习惯性表现出落后②系统有潜在的错误③总是难以达到期望的性能④不可能开发出既复杂又不易受各种安全性攻击的操作系统P 54Question5A technique in which a process, executing an application, is divided into threads that can run concurrently is called:选择一个答案a. None of the aboveb. Multithreadingc. Symmetric multiprocessing (SMP)d. MultiprocessingFeedback：Multithreading is a technique in which a process, executing an application, is divided into threads that can run concurrently. P56Question6WIN2K supports several types of user applications, including:选择一个答案a. Linuxb. System 10c. WIN32d. None of the aboveFeedback：Nothing~Question7Key to the success of Linux has been it’s character as a free software package available under the auspices of the:选择一个答案a. Berkeley Software Distributionb. Free Software Foundationc. World Wide Web Consortiumd. None of the aboveFeedback：Key to the success of Linux has been the availability of free software packagesunder the auspices of the Free Software Foundation (FSF). P70Question8The operating system provides many types of services to end-users, programmers and system designers, including:选择一个答案a. Built-in user applicationsb. All of the abovec. Relational database capabilities with the internal file systemd. Error detection and responseFeedback：the OS typically provides services in the following areas：• Program development •Program execution • Access to I/O devices• Controlled access to files • System access • Error detection and response • Accounting Question9The operating system is unusual in it’s role as a control mechanism, in that:选择一个答案a. It runs on a special processor, completely separated from the rest of the systemb. It never relinquishes control of the system processorc. None of the aboved. It frequently relinquishes control of the system processor and must depend on the processor to regain control of the systemFeedback：• The OS functions in the same way as ordinary computer software; that is, it is a program or suite of programs executed by the processor.• The OS frequently relinquishes control and must depend on the processor to allow it to regain control. P40Question10Operating systems must evolve over time because选择一个答案a. Users will only purchase software that has a current copyright dateb. New hardware is designed and implemented in the computer systemc. All of the aboved. Hardware must be replaced when it failsFeedback：计算机需要不断发展的原因：硬件升级和新型硬件的出现、新的服务、纠正错误P 40/41Question11A major problem with early serial processing systems was:选择一个答案a. Inability to get hardcopy outputb. Setup timec. Lack of input devicesd. All of the aboveFeedback：调度和准备时间Question12An example of a hardware feature that is desirable in a batch-processing system is选择一个答案a. None of the aboveb. A completely accessible memory areac. Large clock cyclesd. Privileged instructionsFeedback：内存保护、定时器、特权指令、中断Question13A computer hardware feature that is vital to the effective operation of a multiprogramming operating system is:选择一个答案a. Very large memoryb. Multiple processorsc. I/O interrupts and DMAd. All of the aboveFeedback：支持I/O中断和直接存储器访问Question14The principle objective of a time sharing, multiprogramming system is to选择一个答案a. Maximize processor useb. None of the abovec. Provide exclusive access to hardwared. Maximize response timeFeedback：批处理多道程序设计是为了充分使用处理器，分时多道程序设计是为了减小响应时间Question15Which of the following major line of computer system development created problems in timing and synchronization that contributed to the development of the concept of the process?选择一个答案a. Multiprogramming batch operation systemsb. Real time transaction systemsc. All of the aboved. Time sharing systemsFeedback：Three major lines of computer system development created problems in timing and synchronization that contributed to the development of the concept of the process:multiprogramming batch operation, time sharing, and real-time transaction systems. Question16Which of the following major line of computer system development created problems in timing and synchronization that contributed to the development of the concept of the process?选择一个答案a. Multiprogramming batch operation systemsb. Real time transaction systemsc. Time sharing systemsd. All of the aboveMultiple Choice Questions 3Question1The behavior of a processor can be characterized by examining:选择一个答案a. Multiple process tracesb. A single process tracec. All of the aboved. The interleaving of the process tracesFeedback:We can characterize behavior of the processor by showing how the traces of the various processes are interleaved. P81Question2The Process Image element that contains the modifiable part of the user space is called the:选择一个答案a. User Programb. None of the abovec. System Stackd. Process Control BlockFeedback:User data.Question3The processor execution mode that user programs typically execute in is referred to as:选择一个答案a. System modeb. None of the abovec. User moded. Kernel modeFeedback:用户态。

1.一个12岁的男孩在从一棵树上摔落后被诊断出上臂丛神经损伤。

表现为他一侧的右上臂失去了外展的能力。

下列哪块肌肉的主要负责肩膀处上臂的外展？A.三角肌和肱二头肌B.三角肌和冈上肌C.三角肌和冈下肌D.冈上肌和冈下肌E.喙肱肌和冈上肌2.臂丛外侧束神经损伤还将延续至肌皮神经。

你会观察到有这种伤病的病人有下列哪个症状？A.肩膀处上臂外展有困难B.肩膀处上臂内收有困难C.伸肘处前臂有困难D.屈肘处前臂有困难E.前臂和手的旋后有困难3.一个22岁男子由于刀子损伤腋下被带进急诊室。

医生怀疑下臂丛神经损伤。

下列哪个神经最可能受到影响？A.腋神经B.肌皮神经C.迷走神经D.楼神经E.尺神经4.一位24岁男性因坠脚手架被注意到肱骨中轴骨折。

下列哪个肌肉测试将执行测试梯神经浅的完整性？A.肘处前臂的屈B.腕处手部的屈C.腕处手部的伸D.示、中、无名、小指的外展E.示、中、无名、小指的内收5.你正在研究一种轴向(截面)磁共振成像(MRI)扫描的手腕并且识别出了腕管。

下列哪项是结构成了腕管前壁？A.掌腱膜B.腕掌侧韧带C.屈肌支持带D.伸肌支持带E.伸筋膜6.如果手腕的正中神经在工业事故中被切断了，以下哪个肌肉仍然保留它们的功能？A.拇短屈肌B.拇短展肌C.拇对掌肌D.示指和中指的蚓状肌E.无名指和小指的蚓状肌7.你在评价一张只有骨性关节的上肢和躯干的X光照片。

你能看到下列哪个关节？A.肩关节8.肩锁关节C.肱锁关节D.喙锁关节E.胸锁关节8.你的患者的膝盖受到外力。

下列哪条韧带防止膝盖处腿部的外展？A.斜胴韧带B.前十字韧带C.后十字韧带D.胫侧副韧带E.腓侧副韧带9.下列哪个韧带防止胫骨后移？A.斜胴韧带B.前十字韧带C.后十字韧带D.胫侧副韧带E.腓侧副韧带10.经腹子宫切除术切除癌变的子宫，闭孔神经不小心被切断。

这将导致病人失去下列哪种行为能力？A.膝处腿的伸B.臀部股（大腿）的伸C.臀部股（大腿）的内收D.膝处腿的屈E.踝部足的背屈11.一个病人向你抱怨他不能踮起脚尖站立。

Chapter 7 - Multiple-Choice Questions1. Which one of the following is not an objective of a system of internal controls?a. Safeguard company assetsb. Overstate liabilities in order to be conservativec. Enhance the accuracy and reliability of accounting recordsd. Reduce the risks of errorsB is correct.Section "Internal control" –Internal controls incorporate policies to safeguard assets, enhance the completeness, accuracy and reliability of accounting records and reduce the risk of errors.2. Which one of the following is not an objective of a system of internal controls?a. Safeguard company assetsb. Enhance the accuracy and reliability of accounting recordsc. Fairness of the financial statementsd.Reduce the risks of errorsC is correct.Section "Internal control" –Internal controls incorporate policies to safeguard assets, enhance the completeness, accuracy and reliability of accounting records and reduce the risk of errors.3. All of the following are examples of internal control procedures excepta. using pre-numbered documentsb. reconciling the bank statementc. customer satisfaction surveysd. insistence that employees take vacationsC is correct.Section "Internal control" –Customer satisfaction surveys are not an internal control procedure.4. Each of the following is a feature of internal control excepta. an extensive marketing planb. safeguard its assets from theftc. separation of dutiesd. recording of all transactionsA is correct.Section "Internal control" –An extensive marketing plan is not a feature of internal control.5. Each of the following is a feature of internal control excepta. limited access to assetsb. independent internal verificationsc. authorisation of transactionsd. adequate design of documentsD is correct.Section "Internal control" – Adequate document design is not a feature of internal control.6. Which of the following is not a limitation of internal control?a. cost of establishing control procedures should not exceed their benefitb. the human elementc. collusiond. the size of the companyC is correct.Section "Internal control" – Collusion is not a limitation of internal control.7. Internal controls are concerned witha. only manual systems of accountingb. the extent of government regulationsc. safeguarding assetsd. preparing income tax returnsC is correct.Section "Internal control" – Internal controls include a focus on safeguarding assets.8. Internal control is defined, in part, as a plan that safeguardsa. all balance sheet accounts.b. assetsc. liabilitiesd. capitalB is correct.Section "Internal control" – Internal control is defined, in part, as a plan that safeguards a company’s assets.9. Internal controls are not designed to safeguard assets froma. natural disastersb. employee theftc. robberyd. unauthorised useA is correct.Section "Internal control" –Internal controls are not designed to safeguard assets from natural disasters.10. Having one person responsible for the related activities of ordering merchandise,receiving goods, and paying for thema. increases the potential for errors and fraudb. decreases the potential for errors and fraudc. is an example of good internal controld. is a good example of safeguarding the company's assetsA is correct.Section "Internal control" –Having one person responsible for the related activities of ordering merchandise, receiving goods, and paying for them increases the potential for errors and fraud.11. The custodian of a company asset shoulda. have access to the accounting records for that assetb. be someone outside the companyc. not have access to the accounting records for that assetd. be an accountantC is correct.Section "Internal control" – The custodian of a company asset should not have access to the accounting records for that asset.12. Internal auditorsa. are external consultants hired to audit business firmsb. are employees of the ATO who evaluate the internal controls ofcompanies filing tax returnsc. evaluate the system of internal controls for the companies that employthemd. cannot evaluate the system of internal controls of the company thatemploys them because they are not independentC is correct.Section "Internal control" – Internal auditors evaluate the system of internal controls for the companies that employ them.13. When two or more people get together for the purpose of circumventingprescribed controls, it is calleda. a fraud committeeb. collusionc. a division of dutiesd. bonding of employeesB is correct.Section "Internal control" – Collusion is when two or more people get together for the purpose of circumventing prescribed controls.14. The principle of establishing responsibility does not includea. one person being responsible for one taskb. authorisation of transactionsc. independent internal verificationd. approval of transactionsC is correct.Section "Internal control" – Independent internal verification is not one of the principles of establishing authority.15. The control principle related to not having the same person authorise and pay forgoods is known asa. establishment of responsibilityb. independent internal verificationc. separation of dutiesd. rotation of dutiesC is correct.Section "Internal control" – Separation of duties does not have the same person authorise and pay for goods.16. Two individuals at a retail store work the same cash register. You evaluate thissituation asa. a violation of establishment of responsibilityb. a violation of separation of dutiesc. supporting the establishment of responsibilityd. supporting internal independent verificationA is correct.Section "Internal control over cash" –When two individuals work at the same cash register it violates the establishment of responsibility.17. An accounts payable clerk has access to the approved supplier master file forpurchases. The control principle ofa. establishment of responsibility is violatedb. independent internal verification is violatedc. documentation procedures is violatedd. separation of duties is violatedD is correct.Section "Internal control" –If one person has access to a supplier master file and is responsible for making payments to those suppliers the control principle of separation of duties is violated.18. Related selling activities do not includea. ordering the merchandiseb. making a salec. shipping the goodsd. billing the customerA is correct.Section "Internal control" – Ordering the merchandise is not related to selling activities, it is related to purchasing activities.19. Related buying activities includea. ordering, receiving, payingb. ordering, selling, payingc. ordering, shipping, billingd. selling, shipping, payingA is correct.Section "Internal control" – Ordering, receiving and paying are related buying activities.20. Physical controls to safeguard assets do not includea. cashier department supervisorsb. vaultsc. safety deposit boxesd. locked warehousesA is correct.Section "Internal control" – Cashier department supervisors are not safeguards to assets.21. In large companies, the independent internal verification procedure is oftenassigned toa. computer operatorsb. managementc. internal auditorsd. outside accounting firmsC is correct.Section "Internal control" –Internal auditors often provide an independent internal verification for large companies.22. Maximum benefit from independent internal verification is obtained whena. it is made on a pre-announced basisb. it is done by the employee possessing custody of the assetc. discrepancies are reported to managementd. it is done at the time of the auditC is correct.Section "Internal control" – The maximum benefit from independent internal verification is obtained when discrepancies are reported to management.23. A system of internal controla. is infallibleb. can be rendered ineffective by employee collusionc. invariably will have costs exceeding benefitsd. is premised on the concept of absolute assuranceB is correct.Section "Internal control" – A system of internal control can be rendered ineffective by employee collusion.24. From an internal control standpoint, the asset most susceptible to improperdiversion and use isa. prepaid insuranceb. cashc. buildingsd. landB is correct.Section "Internal control over cash" – Cash is most susceptible to improper diversion and use from an internal control point.25. Which one of the following items would not be considered cash?a. Coinsb. Money ordersc. Currencyd. Postdated chequesD is correct.Section "Internal control over cash" Postdated cheques are not considered cash.26. Cash equivalents do not includea. money market accountsb. commercial paperc. Treasury billsd. investment securitiesD is correct.Section "Internal control over cash" –Investment securities are not considered cash or cash equivalents.27. The reconciliation of the cash register tape with the cash in the register is anexample ofa. other controlsb. independent internal verificationc. establishment of responsibilityd. segregation of dutiesB is correct.Section "Internal control over cash" – The reconciliation of the cash register tape with the cash in the register is an example of independent internal verification.28. Which of the following is not an internal control procedure for cash?a. Payments should be made with cashb There should be limited access to cashc. The amount of cash on hand should be kept to a minimumd. Cash should be deposited dailyA is correct.Section "Internal control over cash" –Making payments with cash is not an internal control procedure for cash.29. Control over cash disbursements is generally more effective whena. all bills are paid in cashb. disbursements are made by the accounts payable subsidiary clerkc.payments are made by chequed.all purchases are made on creditC is correct.Section "Internal control over cash" – when payments are made by cheque, control over cash disbursements is generally more effective.30. Supervisors counting cash receipts daily is an example ofa. other controlsb. independent internal verificationc. establishment of responsibilityd. segregation of dutiesB is correct.Section "Internal control over cash" –A supervisor counting cash receipts daily is an example of independent internal verification.31. Which of the following is not a suggested procedure to establish internal controlover cash disbursements?a. Anyone can sign the chequesb. Different individuals approve and make the paymentsc. Blank cheques are stored with limited accessd. The bank statement is reconciled monthlyA is correct.Section "Internal control over cash" –One suggested procedure to establish internal control over cash disbursements is to have only authorised persons such as a manager sign the cheques.32. Which of the following is not an internal control procedure for cash?a. Only designated personnel are authorised to handle cashb. The same individual receives the cash and pays the billsc. Surprise audits of cash on hand should be made occasionallyd. Access to cash is limitedB is correct.Section "Internal control over cash" – Having the same individual receive the cash and pay the bills is not an internal control procedure for cash.33. The use of pre-numbered cheques is an example ofa. documentation proceduresb. independent internal verificationc. establishment of responsibilityd. segregation of dutiesA is correct.Section "Internal control over cash" –Using pre-numbered cheques is an example of documentation.34. An exception to disbursements being made by cheque is acceptable when cash ispaida. to an ownerb. to employees as wagesc. from petty cashd. to employees as loansC is correct.Section "Internal control over cash" – Making payments from petty cash is an exception to making disbursements by cheque.35. Allowing only the financial controller to sign cheques is an example ofa. documentation proceduresb. separation of dutiesc. other controlsd. establishment of responsibilityD is correct.Section "Internal control over cash" –Allowing only the financial controller to sign cheques is an example of the establishment of responsibility.36. An employee authorised to sign cheques should not recorda. owner cash contributionsb. mail receiptsc. cash disbursement transactionsd. sales transactionsC is correct.Section "Internal control over cash" –An employee who is authorised to sign cheques should not record cash disbursement transactions.37. Electronic funds transfer (EFT) is a disbursement system that transfers cashfrom one location to another usinga. telephoneb. telegraphc. computerd. all of theseD is correct.Section "Internal control over cash" – electronic funds transfers can be made using any of these methods.38. A bank statementa. lets a depositor know the financial position of the bank as of a certaindateb. is a credit reference letter written by the depositor’s bankc. is a bill from the bank for services renderedd. shows the activity that increased or decreased the depositor’s accountbalanceD is correct.Section "Bank reconciliation" – A bank statement shows the activities that caused changes to the depositor’s bank balance.39. Which one of the following would not cause a bank to debit a depositor’saccount?a. Bank service chargeb. Collection of a note receivablec. EFT of funds to other locationsd. Cheques marked NSFB is correct.Section "Bank reconciliation" – The collection of a not receivable would cause a bank to credit a depositor’s account.40. A company maintains the asset account, Cash, on its books, while the bankmaintains a reciprocal account that isa. a contra asset accountb. a liability accountc. also an asset accountd. an owner's equity accountB is correct.Section "Bank reconciliation" – If a company maintains an asset account, Cash, then the bank maintains a reciprocal account that is a liability account.41. A deposit made by a company will appear on the bank statement as aa. debitb. creditc. debit memorandumd. credit memorandumB is correct.Section "Bank reconciliation" –a deposit made by a company will appear on the bank statement as a credit.42. Which of the following would be deducted from the balance per books on a bankreconciliation?a. Outstanding chequesb. Deposits in transitc. Notes collected by the bankd. Service chargesB is correct.Section "Bank reconciliation" – Deposits in transit are deducted from the book balance ona bank reconciliation.43. Which of the following would be added to the balance per books on a bankreconciliation?a. Outstanding chequesb. Deposits in transitc. Notes collected by the bankd. Service chargesC is correct.Section "Bank reconciliation" –Notes collected by the bank are added to the book balance on a bank reconciliation.44. Which of the following would be deducted from the balance per bank on a bankreconciliation?a. Outstanding chequesb. Deposits in transitc. Notes collected by the bankd. Service chargesA is correct.Section "Bank reconciliation" – Outstanding cheques are deducted from the bank balance on a bank reconciliation.45. Which of the following would be added to the balance per bank on a bankreconciliation?a. Outstanding chequesb. Deposits in transitc. Notes collected by the bankd. Service chargesB is correct.Section "Bank reconciliation" –Deposits in transit are added to the bank balance on a bank reconciliation.46. A bank reconciliation should be prepareda. whenever the bank refuses to lend the company moneyb. when an employee is suspected of fraudc. to explain any difference between the depositor's balance per bookswith the balance per bankd. by the person who is authorised to sign chequesC is correct.Section "Bank reconciliation" – A bank reconciliation should be prepared to explain any difference between the dep ositor’s balance per books and the balance per bank.47. Deposits in transita. have been recorded on the company's books but not yet by the bankb. have been recorded by the bank but not yet by the companyc. have not been recorded by the bank or the companyd. are customers’ cheques that have not yet been received by the company A is correct.Section "Bank reconciliation" –Deposits in transit have been recorded on the company’s books but not yet by the bank.48. In preparing a bank reconciliation, outstanding cheques area. added to the balance per bankb. deducted from the balance per booksc. added to the balance per booksd. deducted from the balance per bankD is correct.Section "Bank reconciliation" – In preparing a bank reconciliation, outstanding cheques are deducted from the balance per bank.49. If a cheque correctly written and paid by the bank for $438 is incorrectlyrecorded on the company's books for $483, the appropriate treatment on the bank reconciliation would be toa. add $45 to the bank's balanceb. add $45 to the book's balancec. deduct $45 from the bank's balanced. deduct $438 from the book's balanceB is correct.Section "Bank reconciliation" – The appropriate treatment in this situation is to add $45 t o the book’s balance.50. A cheque for $157 is incorrectly recorded by a company as $175. On the bankreconciliation, the $18 error should bea. added to the balance per booksb. deducted from the balance per booksc. added to the balance per bankd. deducted from the balance per bankA is correct.Section "Bank reconciliation" –In this situation the $18 error should be added to the balance per books.51. For which of the following errors should the appropriate amount be added to thebalance per bank on a bank reconciliation?a. Cheque for $43 recorded as $34b. Deposit of $500 recorded by bank as $50c. A returned $200 cheque recorded by bank as $20d. Cheque for $35 recorded as $53B is correct.Section "Bank reconciliation" – A deposit recorded by the bank as less than it actually is would be added to the balance per bank on a bank reconciliation.52. Which of the following bank reconciliation items would not result in anadjusting entry?a. Service chargeb. Outstanding chequesc. A dishonoured cheque of customerd. Collection of a note by the bankB is correct.Section "Bank reconciliation" – Outstanding cheques do not require an adjusting entry in a bank reconciliation.53. Which of the following items on a bank reconciliation would require anadjusting entry on the company’s books?a. An error by the bankb. Outstanding chequesc. A bank service charged. A deposit in transitC is correct.Section "Bank reconciliation" – A bank service charge would require an adjusting entry following a bank reconciliation.54. Management of cash is the responsibility of the companya. accountantb. finance director or finance managerc. presidentd. chief executive officerB is correct.Section "Managing and monitoring cash" –Cash management is usually the responsibility of the finance director or finance manager.55. Which of the following is not a basic principle of cash management?a. Increase collection of receivablesb. Keep inventory levels highc. Delay payment of liabilitiesd. Invest idle cashB is correct.Section "Managing and monitoring cash" –Maintaining high inventory levels is not a principle of cash management.56. Which of the following is not a basic principle of cash management?a. Increase collection of receivablesb. Keep inventory levels lowc. Pay all liabilities earlyd. Invest idle cashC is correct.Section "Managing and monitoring cash" – Paying liabilities when they are due i.e. not late and not early, is a principle of cash management.57. The ratio of cash to daily cash expenses is calculated by dividinga. cash by total expensesb. cash and cash equivalents by total expensesc. cash by daily cash expensesd. cash and cash equivalents by average daily cash expensesD is correct.Section "assessing cash adequacy" – The ratio of cash to daily cash expenses is calculated by dividing cash and cash equivalents by average daily cash expenses.58. The following information is available for Gibson Company: net income $1,200million; net cash provided by operating activities $950 million; total expenses$1,700 million; depreciation expense $240 million; cash dividends $200 million;capital expenditures $500 million; and cash and cash equivalents $800 million.Gibson’s cash to daily cash expenses ratio is calculated asa. $950 ÷ ($1,700 ÷ 365)b. $800 ÷ ($1,700 ÷ 365)c.$950 ÷ [($1,700 - $240) ÷ 365]d.$800 ÷ [($1,700 - $240) ÷ 365]D is correct.Section "assessing cash adequacy" – The ratio of cash to daily cash expenses is calculated by dividing cash and cash equivalents by average daily cash expenses.59. The following information is available for Donner Company: net income $1,100million; net cash provided by operating activities $800 million; total expenses$1,500 million; depreciation expense $240 million; cash dividends $200 million;capital expenditures $500 million; and cash and cash equivalents $600 million.Donner’s cash to daily cash expenses ratio is calculated asa. $800 ÷ ($1,500 ÷ 365)b. $600 ÷ ($1,500 ÷ 365)c. $800 ÷ [($1,500 - $240) ÷ 365]d. $600 ÷ [($1,500 - $240) ÷ 365]D is correct.Section "assessing cash adequacy" – The ratio of cash to daily cash expenses is calculated by dividing cash and cash equivalents by average daily cash expenses.60. Receivables are claims that are expected to be met ina. cashb. inventoryc. liabilitiesd. sharesA is correct.Section "Receivables" – receivables are claims that are expected to be met in cash.61. Accounts receivable includesa. non-trade receivablesb. amounts owed by customers on accountc. interest receivabled. loans to company officersB is correct.Section "Receivables" –Accounts receivable includes amounts owed by customers on account.62. Accounts receivable are reported on the balance sheet as a/ana. liabilityb. equityc. assetd. revenueC is correct.Section "Receivables" – Accounts receivable are reported on the balance sheet as an asset.63. Under the direct write-off method, when a particular account is considered to beuncollectible, the loss is charged toa. revenueb. accounts receivablec. allowance for doubtful debtsd. bad debts expenseD is correct.Section "Receivables" – Under the direct write-off method, when a particular account is considered to be uncollectible, the loss is charged to bad debts expense.64. The method being used to determine the amount of the allowance for doubtfuldebts that relies on a schedule in which customers balances are classified by thelength of time they have been unpaid, is known as thea. direct write-off methodb. net realisable methodc. aged accounts receivable methodd. conservatism methodC is correct.Section "Receivables" –Ageing the accounts receivable allows the allowance for doubtful debts to be determined.65. Receivables that mature within the entity’s operating cycle are classified in thebalance sheet asa. equityb. liabilitiesc. non-current assetsd. current assetsD is correct.Section "Receivables" – Receivables that mature wit hin the entity’s operating cycle are classified in the balance sheet as current assets.66. The recoverable amount of trade receivables is shown in thea. income statementb. balance sheetc. statement of changes in equityd. cash flow statementB is correct.Section "Receivables" – The recoverable amount of receivables is shown in the balance sheet.67. Managing accounts receivable involves five steps of which the following occursfirsta. determine to whom to extend creditb. accelerate cash receipts from receivablesc. establish a payment periodd. monitor the collectionsA is correct.Section "Managing receivables" –The management of accounts receivable firstly involves the determination of whom to extend credit to.68. The credit risk ratio is calculated by dividing the allowance for doubtful debts bya. total salesb. total assetsc. accounts receivabled. 365 daysC is correct.Section "Managing receivables" –The credit risk ratio is calculated by dividing the allowance for doubtful debts by accounts receivable.69. Which of the following will not help minimise potential losses resulting fromcredit customersa. Letters of credit/bank guaranteesb. Cash on deliveryc. bank/supplier referencesd. Extended payment periodD is correct.Section "Cash" –An extended payment period will not minimise potential losses from credit customers.70. The receivables turnover ratio is used to assess the liquidity of the:a. customerb. receivablesc. businessd. assetsB is correct.Section "Managing receivables" –The receivables turnover ratio is used to assess the liquidity of the receivables.71. A factor is used toa. borrow moneyb. apply for creditc. accelerate cash receiptsd. increase salesC is correct.Section "Managing receivables" – a factor is one way of accelerating cash receipts.。

Multiple Choice Questions1. A tax on imports that is stipulated as a money amount per unit iscalled:a. A specific tariff.b.An ad valorem tariff.c.An effective tariff.d.An optimal tariff.ANSWER: A2. A tariff generally __________ domestic producers ofimport-competing products and ____ domestic consumers of imports and import-competing goods.a.Helps; helpsb.Hurts; hurtsc.Helps; hurtsd.Hurts; helpsANSWER: C3. A tariff allows domestic producers of import-competing goods to:I.Expand their own production and sales.II.Raise the price they charge.III.Begin to export their product.a.Ib.I and IIc.I, II, and IIId.I and IIIANSWER: B4.If a small country imposes a tariff on imported motorcycles, theworld price of motorcycles will __________ and the domestic price of motorcycles will __________.a.Rise; riseb.Fall; risec.Stay constant; rised.Stay constant; fallANSWER: C5.If a small country imposes a tariff on imported motorcycles, thesurplus of domestic producers of motorcycles will __________ and the surplus of domestic consumers of motorcycles will __________.a.Rise; riseb.Fall; fallc.Fall; rised.Rise; fallANSWER: D6.Which of the following refers to the loss consumers in theimporting country suffer based on their reduction in the consumption of a good after a tariff is imposed on that good?a.Production effect.b.Consumption effect.c.Deadweight loss.d.Consumer surplus.ANSWER: B7.Which of the following refers to the extra cost of shifting to moreexpensive home production following the imposition of a tariff?a.Production effect.b.Consumption effect.c.Deadweight loss.d.Producer surplus.ANSWER: AFigure 8.1: The U.S. Market for ShoesPrice8.Referring to Figure 8.1, the impact of a tariff on shoes on theamount of domestic producer surplus is a __________ measured by area __________.a.Gain; ab.Loss; ac.Gain; (a+b)d.Loss; (a+b)ANSWER: A9.Referring to Figure 8.1, the impact of a tariff on shoes on theamount of domestic consumer surplus is a __________ measured by area __________.a.Gain; db.Loss; dc.loss; (a+b+c+d)d.Loss; (b+d)ANSWER: C10.Referring to Figure 8.1, the revenue collected by the U.S. governmentas a result of the tariff on shoes is shown by area __________.a.ab. a + bc.cd. b + c + dANSWER: C11.Referring to Figure 8.1, the imposition of a tariff on shoes causedeconomic welfare in the U.S. to __________ by an amount measured by area __________.a.Fall; cb.Fall; (b+d)c.Fall; (b+c+d)d.Rise; (a+c)ANSWER: B12.Referring to Figure 8.1, what area measures the production effect ofthe tariff on shoes?a.ab.bc.cd.dANSWER: B13.Referring to Figure 8.1, what area measures the consumption effectof the tariff on shoes?a.ab.bc.cd.dANSWER: DFigure 8.2: The U.S. Market for ComputersPrice$2,400$2,00014.Referring to Figure 8.2, under free-trade the U.S. imported __________computers, but after imposing a tariff the U.S. imported __________computers.a.100,000; 70,000b.70,000; 100,000c.200,000; 190,000d.90,000; 100,000ANSWER: A15.Referring to Figure 8.2, the imposition of a tariff on computerscaused producer surplus to __________ by __________.a.Rise; 20,000 computersb.Rise; $44,000c.Rise; $44 milliond.Fall; $48 millionANSWER: C16.Referring to Figure 8.2, the imposition of a tariff on computers caused consumersurplus to __________ by __________.a.Fall; 10,000 computersb.Fall; $40,000c.Rise; $76 milliond.Fall; $78 millionANSWER: D17.Referring to Figure 8.2, how much revenue will the U.S. governmentcollect as a result of the tariff on computers?a.$400,000b.$40 millionc.$28 milliond.$76 millionANSWER: C18.Referring to Figure 8.2, the imposition of a tariff on computerscaused economic welfare in the U.S. to __________ by __________.a.Fall; 30,000 computersb.Fall; $6 millionc.Rise; $34 milliond.Fall; $34 millionANSWER: B19.Referring to Figure 8.2, what is the production effect of the tariff oncomputers?a.$48 million.b.$4 million.c.$28 million.d.$44 million.ANSWER: B20.Referring to Figure 8.2, what is the consumption effect of the tariffon computers?a.$2 million.b.$4 million.c.$76 million.d.$78 million.ANSWER: AUse the following information to answer questions 21 thru 27.A small country is considering imposing a $5 per bottle tariff on imported wine. Economists have estimated the following figures based on this tariff amount:World price of wine (free trade): $20Domestic production (free trade): 500,000Domestic production (after tariff): 600,000Domestic consumption (free trade): 750,000Domestic consumption (after tariff): 650,00021.With no tariff on imported wine, the country’s imports __________bottles of wine, but after imposing the tariff the country will import __________ bottles of wine.a.100,000; 100,000b.250,000; 50,000c.150,000; 50,000d.750,000; 650,000ANSWER: B22.The imposition of the tariff on wine will cause domestic producersurplus to __________ by __________:a.Rise; 100,000 bottlesb.Rise; $500,000c.Fall; $2.5 milliond.Rise; $2.75 millionANSWER: D23.The imposition of the tariff on wine will cause domestic consumersurplus to __________ by __________:a.Fall; 100,000 bottlesb.Fall; $250,000c.Fall; $3.5 milliond.Rise; $3.5 millionANSWER: C24.The imposition of the tariff on wine will cause government tariffrevenue to rise by how much?a.$250,000b.$1.25 millionc.$3.5 milliond.$500,000ANSWER: A25.The imposition of the tariff on wine will cause the country’seconomic well-being to __________ by __________.a.Fall; $0.5 millionb.Rise; $0.75 millionc.Fall; 100,000 bottles of wined.Fall; $0.75 millionANSWER: A26.What would be the production effect of the tariff on wine?a.$250,000b.$500,000c.$2.5 milliond.$2.75 millionANSWER: A27.What would be the consumption effect of the tariff on wine?a.$250,000b.$500,000c.$3.5 milliond.$2.75 millionANSWER: A28.Which of the following is a change in the ratio of international pricesof a large country's exports to the international price of the largecountry's imports resulting from the imposition of a tariff in thecountry?a.One-dollar, one-vote.b.Production effect.c.Consumption effect.d.Terms-of-trade effect.ANSWER: D29.Which of the following refers to the percentage by which a nation'strade barriers raise an industry's value added per unit of output?a.One-dollar, one-vote.b.Optimal tariff.c.Effective tariff.d.Terms-of-trade effect.ANSWER: C30.Given the following information about domestic lamp production,what is the effective rate of protection afforded to the domestic lamp industry by a 20% tariff on lamps?With free trade:Unit value (price) of a lamp = $175.00Unit cost of lamp inputs = $100.00With 20% tariff on lamps:Unit value (price) of a lamp = $210.00Unit cost of lamp inputs = $100.00a.20%b.46⅔%c.110%d.102⅔%ANSWER: B31.At free-trade prices, a tennis racquet sells for $100 and contains $40worth of aluminum inputs and $30 worth of plastic. In Country A, the nominal tariff rates are 40% on tennis racquets, 20% on aluminum, and 10% on plastic. Given these rates, what is the effective rate of protection on racquets in Country A?a.40%b.63⅓%c.10%d.96⅔%ANSWER: D32.Which of the following statements is accurate?I.Tariffs are likely to decrease world economicwell-being.II. A tariff helps producers and hurts consumers in the country imposing the tariff.III. A tariff always decreases economic domesticwell-being if imposed in a small country and may increase,decrease, or leave unchanged the economic well-being ifimposed in a large country.a.I and IIb.I and IIIc.II and IIId.I, II, and IIIANSWER: D33.If a country with monopsony power imposes a tariff on importedfarm equipment, the world price of farm equipment will:a.Fall.b.Rise.c.Be unaffected.d.Become equal to the domestic price of farm equipment.ANSWER: A34.An optimal tariff is __________ the more __________ the foreign exportsupply.a.Higher; elasticb.Lower; rigidc.Higher; inelasticd., ;&nbs, p; Lower; inelasticANSWER: C35.A nation can gain from imposing a tariff if:a.The tariff is a prohibitive tariff.b.The tariff is an ad valorem tariff.c.The tariff causes the world price to fall to such a degree thatthe amount of the tariff paid by foreign exporters exceeds thelosses caused by the production and consumption effects.d.The tariff causes the tariff revenue collected by the domesticgovernment to exceed the losses caused by the production andconsumption effects.ANSWER: C36.At free-trade prices, a bicycle sells for $100 and contains $90 worth ofinputs. Country X has a nominal tariff rate of 15% on bicycles, and 10% on the inputs. Given these rates, what is the effective rate of protection of bicycles in Country X?a.10%b.60%c.5%d.15%ANSWER: BUse the following information to answer questions 37 thru 39.With free trade, a big country produces 1 million bikes per year and imports another 2 million bikes per year at the (world) price of $60 per bike. Assume that the country imposes a specific tariff of $5 per bike. As a result, the world price of a bike decreases to $58; the import of bicycles drops down to 1.6 million bikes; and the domestic production increases to 1.1 million bikes.37.After the country imposes the tariff, domestic consumers are paying aprice of __________ for a bike.a.$60b.$70c.$63d.$65ANSWER: C38.As a result of the tariff, the government collects an amount of__________ million dollars in tax revenue.a.2b.4c.6d.8ANSWER: D39.As a result of the imposed tariff:a.The country gains national well-being because the tariffencourages production.b.The country loses national well-being because the tariff hurtsconsumers.c.The country loses national well-being because tariffs alwayslead to a welfare loss.d.The country gains national well-being because the amount ofthe tariff revenue paid by the exporting country more thanoffsets the consumption and the production effect.ANSWER: D40.The nationally optimal tariff is the tariff for which:a.The production effect is equal to the consumption effect.b.The government collects the highest revenue.c.The highest difference between the government tariff revenueand the sum of consumption and production effect is attained.d.The highest difference between the part of the tariff revenuepaid by the exporting country and the welfare loss associatedwith the consumption and production effects is attained.ANSWER: D41.Which of the following has overseen the global rules of governmentpolicy toward international trade since 1995?a.World Trade Organization.b.General Agreement on Tariffs and Trade.c.International Monetary Fund.d.World Bank.ANSWER: ATrue/False Questions42.When a tariff is imposed, it is expected that domestic producers willraise their price to the same level as the price of the imported product after the tariff is imposed.ANSWER: TRUE43.A tariff always lowers the well-being of each nation, including thenation imposing the tariff.ANSWER: FALSE44.A tariff imposed by a small country hurts the tariff imposing countrybut brings gains to the rest of the world.ANSWER: FALSE45.The consumption effect shows the welfare loss to the economyresulting from consumers shifting from imports to more expensive domestic production.ANSWER: FALSE46.The one-dollar, one-vote metric says that every dollar of gain is moreimportant than every dollar of loss, regardless of who the gainers or losers are.ANSWER: FALSE47.A nationally optimal tariff causes no production or consumptioneffects.ANSWER: FALSE48.The United Nations oversees global rules of government policytoward international trade.ANSWER: FALSE49.It is possible for a large country to be better off, worse off, or nobetter off/no worse off as a result of a tariff being imposed. ANSWER: TRUE50.For a small country, the consumption effect plus the productioneffect represent the loss in economic welfare that results from the imposition of the tariff.ANSWER: TRUE51.Monopsony power is a change in the ratio of international prices ofa large country's exports to the international price of the largecountry's imports resulting from the imposition of a tariff by thecountry.ANSWER: FALSE52.A nationally optimal tariff is a tariff that creates the largest net gainfor the country imposing it.ANSWER: TRUE53.Within a country, a tariff causes a redistribution of well beingbetween domestic producers and the government only. ANSWER: FALSE54.A small country always stands to lose by imposing a tariff becausethe tariff will not have an impact on its terms of trade. ANSWER: TRUE55.The effective rate of protection of a product measures how acountry’s entire set of trade barriers affects the value added per unit of output of this product.ANSWER: TRUE56.An ad valorem tariff is formulated as a money amount per unit ofimport that is due when the good reaches the importing country. ANSWER: FALSE57.The production effect measures the welfare gain of domesticproducers which can sell their product at a higher price as a result of the imposed tariff.ANSWER: FALSEEssay Questions58.Suppose that the world price of automobiles is $20,000 and domesticproducers of automobiles use $10,000 worth of imported inputs and no domestic inputs. What is the effective rate of protection in thedomestic automobile industry if there is a 25% tariff on importedautomobiles and a 50% tariff on imported inputs?POSSIBLE RESPONSE: The effective rate of protection for an industry is measured as the percentage change in the unit value added whichresults from all protective measures on inputs and the final good. With free trade, the value added for an automobile is$20,000-$10,000=$10,000. With a 25% tariff on imported automobiles, the new price for an automobile rises to $25,000. Accounting for thetariff on imported inputs, the new value of the inputs is $15,000. The new value added for an automobile is $25,000-$15,000=$10,000. The effective rate of protection is then ($10,000-$10,000)/$10,000=0%.pare and contrast the effects of a tariff on prices and nationalwell-being imposed in a small country with the effects of a tariffimposed in a large country. Be sure to include carefully drawn graphs.POSSIBLE RESPONSE:T ariff by a small countryTariff by a large countryA tariff imposed by a small country will not have an impact on the world price of the good. That is, the domestic price will rise by the amount of the tariff. A small country cannot gain by imposing a tariff. The welfare loss resulting from the tariff is measured by the sum of the production effect (area b) and the consumption effect (area d). As a result of the tariff, consumers lose the area (a+b+c+d), producers gain area (a), and the government collects the area (c) in tariff revenues.A tariff imposed by a large country will have an effect on the world price. As shown in the second graph, the world price will decrease once the tariff is imposed. The resulting effects on consumers and producers will essentially be the same as the above described effects. The difference (compared to the case of a small country) is the area (e) which measures the portion of the government tariff revenues that are effectively paid by foreigners. The burden of this part of thegovernment tariff revenues is carried by the foreign producers who now export to the country at a lower price. Whether a large country eventually gains or loses from the tariff depends on whether the gained area (e) is larger or smaller than the welfare loss associated with the area (b+d).60.You are given the following information about copper in the UnitedStates:Situation SituationWith T ariff Without T ariffWorld Price $0.40 per lb. $0.50 per lb.T ariff (specific) $0.20 per lb. 0U.S.Domestic Price $0.60 per lb. $0.50 per lb.U.S. Consumption 210 million lb. 250 million lb.U.S. Production 140 million lb. 100 million lb.1Calculate the loss to U.S. consumers of copper from imposing the tariff.2Calculate the gain to U.S. producers of copper from imposing the tariff.3Calculate the gain in tariff revenue to the U.S. government from imposing the tariff.4Calculate the net gain or loss to the U.S. economy as a whole from imposing the tariff.POSSIBLE RESPONSE:5As a result of the tariff the domestic price rises by $0.10 (from $0.50 to $0.60) per pound. Consumers consume 250-210=40 million pounds less. The consumption effect is ½ x $0.10 x 40 million = $2 million. Consumers lose additionally $0.10 x 210 million = $21 million due to the higher price they pay for their consumption after the tariff is imposed. They lose a total of $23 million.6U.S.producers charge $0.10 more per pound and expand their production by 40 million pounds. Their gain of producer surplus from expanding the production quantity is ½ x $0.10 x 40 million= $2 million. Their gain from selling the production quantity they used to sell before the tariff now at a $0.10 higher price is 100 million x $0.10=$10 million. Their gain totals $12 million.7The tariff revenue to the U.S. government equals the product of the imported quantity and the tariff per unit. After imposing the tariff the U.S. imports 210-140=70 million pounds. The U.S. revenue is $0.20 x 70 million= $14 million.The net gain of the U.S. as a whole is $14 million in governmentrevenue minus $23 million in consumer loss, plus $12 million inproducer gain, which equals $3 million.61.A country can actually improve its well being if it is in a position toimplement an “optimal tariff”. Explain what an optimal tariff is,what conditions must be in place in order to implement an optimaltariff, and how such a tariff will increase national welfare. Assumingyour country could implement an optimal tariff, would you suggest it do so? Why or why not?POSSIBLE RESPONSE: An optimal tariff is a tariff which maximizes the welfare of a country as measured by the gain in tariff revenue that is essentially paid by foreigners to the government minus the lossassociated with the consumption and production effects arising from the tariff. A country can gain by a tariff only if it is large enough tohave an impact on the international price of the product. By imposinga tariff the country can improve its terms of trade, and mayexperience a net gain. One needs to exert caution when advisinggovernment officials on the implementation of a tariff. Such adecision should incorporate the eventuality that importing countries retaliate by imposing trade restrictions on your country’s exports.62.“The higher the tariff, the more domestic production is increased. Thus,a prohibitive tariff is socially optimal.” Comment on this statement drawing on all you have learned in the course up to now.POSSIBLE RESPONSE: The statement is based on the (false) premise that more domestic production is better than less. Also, the statement fails to account for the well-being of other agents in the economy who are not producers: the consumers who are interested in a lower price of the good, and the government, which is collecting revenue.Let us focus first on the decision of producers. It is true that thehigher the tariff the higher the quantity supplied by domesticproducers. However, for the society as a whole this production might be too costly. It involves valuable resources that can have a better use in other industries. The loss associated with such an inefficientproduction is the production effect.A prohibitive tariff will definitely be to the disadvantage of consumersbecause the consumers will not be able to consume imports at all.The consumption effect is the loss for consumers who buy less of the product. For the government, a prohibitive tariff generates nogovernment revenues as there will be no imports of the good.63.When a small country imposes a tariff, the domestic price of thegood increases. This causes a “production” and a “consumption”effect. Explain carefully these two effects, and discuss whether theyincrease or decrease the country’s well-being.POSSIBLE RESPONSE: Small countries cannot affect the international prices of goods when they impose tariffs or other trade barriers. If a small country imposes a tariff, the domestic price of the productincreases by the size of the tariff. This will have an effect on thedecisions of domestic producers and consumers.Producers will start to produce more because they can now sell the product domestically at a higher price. Although producers stand to gain, this gain is at the expense of consumers who are paying a higher price. From the viewpoint of the society as a whole, this increase of production is a loss. The increased production costs more resources to make at home than to import from abroad. This loss is called the “production effect”.Consumers will start to consume less of the product due to its higher price although they value the product more than its internationalprice (without the tariff). This is the source of the “consumptioneffect”, which is again a loss for the country.The Basic Analysis of a TariffOverviewThis chapter begins the analysis of government policies that limit imports, by examining the tariff—a government tax on imports. The chapter has two major purposes. First, the analysis shows the effects of a tariff when the importing country is small, so that its import policies have no effect on world prices. Second, the analysis of a large importing country—one whose policies can affect world prices—shows that a large country can use a tariff to lower the price that it pays foreigners for its imports.We begin by examining the effects of a tariff imposed by a small country (contrasted with free trade), using supply and demand within the importing country. Since foreign exporters do not change the price that they charge for the product, the domestic price of the imported product rises by the amount of the tariff. Domestic producers competing with these imports can also raise their domestic prices as the domestic price of imports rises. Domestic producers gain when the government imposes a tariff on competing imports. They get a higher price for their products, they produce and sell a larger quantity (a movement along the domestic supply curve), and they receive more producer surplus. (The effects of the entire tariff system on domestic producers can be more complicated than this, because other tariffs can raise the costs of materials and components. The box on "The Effective Rate of Protection" discusses this more complete analysis, focusing on the effects of the tariff system on value added per unit of domestic production.)Domestic consumers of the product are also affected by the imposition of the tariff. They must pay a higher price (for both imported and domestically produced products), they reduce the quantity that they buy and consume (a movement along the domestic demand curve), and they suffer a loss of consumer surplus.The government also collects tariff revenue, equal to the tariff rate per unit imported times the quantity that is imported with the tariff is imposed (less than the free-trade import quantity).We thus have two domestic winners (domestic producers and the national government) and one domestic loser (domestic consumers) because of the imposition of a tariff. We can evaluate the net effect on the whole country, if we have some way of comparing winners and losers. As we did beginning in Chapter 2, we can, for instance, use the one-dollar-one-vote measure. Part of what consumers lose is matched by the gain to domestic producers, and another part is matched by the revenue gain to the government. But there is an additional amount that consumers lose and that is not a gain to the other groups. This is the net national loss from a tariff (for a small country). In the national market graph this loss is two triangles; equivalently, in the import-export graph this loss is one triangle.If we look at the national market graph, we can see why these are deadweight losses. The consumption effect of the tariff is the loss of consumer surplus for those consumers who are squeezed out of the market because the tariff "artificially" raises the domestic price, even though foreigners remain willing to sell products to the importing country at the lower world price. The production effect of the tariff is the loss from using high-cost domestic production to replace lower-cost imports (available to the country at the unchanged world price). The high production cost is shown by the height of the supply curve, for each of the extra units produced because of the tariff.The analysis is affected in important ways if the importing country is a large country, one that has monopsony power in world markets. A large country can gain from the terms-of-trade effect when it imposes a tariff. The tariff reduces the amount that the country wants to import, so foreign exporters lower their price (a movement along the foreign supply-of-exports curve). We analyze the large country case using the international market (imports and exports), and we show the tariff as driving a wedge between demand and supply, so the price to the import buyers exceeds the price received by foreign exporters by the amount of the tariff. For the large importing country, the imposition of the tariff causes a triangle of national loss (comparable to the one shown for the small country) but also a rectangle of national gain because the price paid to foreign exporters is lowered, for the units that the country continues to import.The net effect on the importing country depends on which of these two is larger. For a suitably small tariff, the rectangle is larger, so the importing country has a net gain from imposing a tariff. A prohibitive tariff would cause a net national loss, because the rectangle would disappear. It is possible to determine the country's optimal tariff—the tariff rate that makes the net gain to the importing country as large as possible. The optimal tariff rate is inversely related to the price elasticity of foreign supply of the country's imports.We conclude by pointing out that the optimal tariff causes a net loss to the whole world. The loss to the foreign exporting country is larger than the net gain to the importing country. And a country trying to impose an optimal tariff risks retaliation by the foreign countries hurt by the country's tariffObjectives of the ChapterThis chapter explicitly explains the advantages and disadvantages of a tariff imposition. Except for some recognized exceptional cases, there is a rare consensus among economists that freer trade is better than protectionism. As illustrated in this chapter, economic analysis has consistently。

MultipleChoiceQuestionsMultiple Choice QuestionsMultiple Choice. Choose the best answer to each of the following questions.1. If a nation's domestic savings equals 6 and a nation's domestic investment equals10, then the nation is experiencing:A. a net capital outflow.B. a net capital inflow.C. no net capital inflow or outflow.D. a current account surplus.2. If a nation's domestic saving is 25 and the nation's domestic investment is 30,then the nation is experiencing:A. a current account surplus.B. a current account deficitC. a net capital inflowD. both B and C3. The balance on merchandise trade is a component ofA. the current account.B. the capital account.C. foreign direct investment.D. portfolio investment.4. A debit entry in the balance of payments accounts representsA. a transaction that includes a payment from abroad a domestic resident.B. a transaction that includes a payment abroad by a domestic resident.C. a decrease in the current account deficit.D. an increase in the capital account surplus.5. When a country faces a current account deficit, it also faces:A. a services trade deficit.B. a capital account deficit.C. a capital account surplus.D. a merchandise trade deficit.6. Given the following data, what is the country's current account balance?Merchandise trade balance = -120; Services trade balance = +45; Unilateral transfers made in excess of those received = 15.A. -60B. -90C. -100D. -1507. Which of the following exchange rates is adjusted for price changes?A. Nominal exchange rate.B. Real exchange rate.C. Effective exchange rate.D. Forward exchange rate.8. An economic transaction is recorded in the balance of payments as a credit if itleads toA. a payment to foreigners.B. the receipt of a payment from foreigners.C. a decrease in foreign exchange reserves.D. neither an inflow nor an outflow of value.9. When American residents buy bonds from Her Majesty’s Treasury in London, inthe foreign exchange market this will give rise toA. a demand for American dollars.B. a supply of British pounds.C. a supply of American dollars.D. none of the above.10. If a country’s nominal interest rate increases by the same percentage that th einflation rate has increased,A. international investors will withdraw their funds from the country.B. international investors will pour more funds into the country.C. international investors will demand an increase in the real interest rate the y are paid.D. none of the above.11. The difference between real income and absorption is equal to theA. current account.B. public budget deficit.C. exchange-rate.D. net national product.12. The simple model of the portfolio approach assumes households choose to holdtheir wealth in:A. money, domestic bonds, or foreign bonds.B. stocks and bonds only.C. bonds only.D. money only.13. When a central bank intervenes in foreign exchange markets, it does so using:A. the reserves it has deposited at the World Bank.B. a combination of foreign exchange reserves and private bank reserves.C. its own reserves of assets denominated in foreign currencies.D. a combination of reserve requirement and discount rate adjustments.14. The Group of Seven is a group of countries that have agreed to engage inA. a monetary union.B. a fixed exchange rate regime.C. international policy cooperation.D. a shared independent central bank.15．If a nation's domestic saving equals 18 and a nation's domestic investment equals 12, then the nation is experiencing:A. a current account deficit.B. a net capital inflow.C. no net capital inflow or outflow.D. a current account surplus.16．Suppose exchange rate of the Japanese Y en relative to the RMB is 14 (CNY 1=JPY 14). If the RMB is to undergo a 50 percent appreciation, the new exchange value would be:A. 7B. 21C. 8D. 1617. A phenomenon in which a depreciation of the domestic currency causes a nation'sbalance of payments to worsen before it improves is called:A. the J-curve effect.B. the S-curve effect.C. pass-through effects.D. devaluation.18．Which of the following BOP disequilibrium could not last long relatively？A. monetary disequilibrium.B. income disequilibrium.C. temporary disequilibrium.D. structural disequilibrium.19．An exchange rate that is weighted by the share of each partner in a nation's trade is an example of aA. spot exchange rate.B. nominal exchange rate.C. effective exchange rate.D. real exchange rate.20．If the price of a T-shirt in the U.S. is $12, the price of the same T-shirt in Ger many is €8, and the exchange rate is 1.5 $/€, the Euro:A. is correctly valued according to PPP.B. is overvalued according to PPP.C. is undervalued according to PPP.D. none of the above.21. Which of the following is recorded as a debit item in the U.S. balance ofpayments accounts?A. An Italian firm pays $5 million in dividends to the holders of its stock in the U.S.B. The French Club Med hires four American scuba diving instructors for its new resort on the Italian island of Sardinia.C. Toyota builds a factory in the U.S. to manufactureautomobiles.D. Remittances from Cambodian immigrants in the U.S. flow to their relatives in Thailand’s refugee centers.22．The most heavily traded currency on the Eurocurrency market is theA. Japanese yen.B. British pound.C. Canadian dollar.D. U.S. dollar.23．If domestic saving equals 20 and domestic investment equals 8, then the current account balance equals:A. -28B. -12C. +12D. +2824．In order for the purchase of stocks to be categorized as foreign direct investment, it must represent at least _______ percent of the foreign entity's outstanding stock.A. 1B. 10C. 25D. 4025. Which of the following statements is false?A. British imports of Florida oranges will create a demand for U.S. dollars.B. If all Americans buy Japanese cars, the dollar will appreciate relative to the yen.C. The American dollar is often used as a vehicle currency.D. Australia, Canada, New Zealand and Taiwan all use currencies called “dollars.”26．The spot exchange rates published in financial newspapers are usually:A. nominal exchange rates.B. real exchange rates.C. effective exchange rates.D. forward exchange rates.27. All other things being equal, which of the following would not cause the price ofa foreign currency (e) to fall?A. A rise in the home country’s expected inflation rate.B. A rise in the foreign country’s expected inflation rate.C. A drop in the foreign country’s real income.D. A rise in the foreign count ry’s money supply.28. If a U.S. firm borrows one billion dollars in Mexican pesos from Citibank’sMexico branch and uses the money to build a factory in Mexico, the transition will enter the U.S. balance of payments as a credit onA. short-term private capital inflow and a debit on direct investmentpayments.B. long-term private capital inflow and a debit on long-term private capitaloutflow.C. long-term private capital inflow and a debit on direct investment.D. short-term private capital inflow and a debit on short-term private capitaloutflow.29. The dominant international borrower in the past decadehas beenA. the developing countries.B. t he European countries.C. t he countries of the former Soviet Union.D. the United States.30. Borrowing from abroad is aA. capital import and therefore a debit item.B. c apital export and therefore a credit item.C. capital import and therefore a credit item.D. capital export and therefore a debit item.31. If a coun try’s net foreign investment amounts to –$15 billion, this implies anequivalentA. current account deficit.B. c urrent account surplus.C. t rade balance surplus.D. overall balance deficit.32. Suppose the exchange rate between the Canadian dollar (C$) and theAmerican dollar (US$) changes from C$1.340/US$ to C$1.325/US$, but theCanadian government wants to maintain a fixed exchange rate ofC$1.340/US$. What should the Bank of Canada do?A. Stop trading with the U.S. so that fewer U.S. dollars will flow into Canada.B. S ell U.S. dollars (buy Canadian dollars).C. Sell Canadian dollars (buy U.S. dollars).D. Purchase British pounds and sell French francs.33. If a dollar equals 400 Mexican pesos in the foreignexchange market, what isthe value of one peso?A. $250B. $0.0025C. $0.04D. $1.2534. Suppose an American speculator anticipates the spot rate on the yen in 180days will be higher than today’s 180-day forward rate on yen ($0.0072).Which of these investments is best if she is correct?A. Sell one million yen today in the forward market for delivery in 180 days.B. B uy one million yen today in the forward market for delivery in 180days.C. B uy dollars today in the spot market.D. Buy dollars today in the forward market for delivery in 180 days.35. Covered interest parity is a condition whereA. the forward value of a currency will tend to exceed its spot value bythe same percentage as its interest rate is lower than foreign interestrates.B. t he spot value will tend to exceed its forward value by the same percentageas the domestic interest rate is lower than foreign interest rates.C. t he domestic and foreign interest rates are equalized.D. the spot and forward rates are equalized.36. Suppose you are an established speculator with an excellent reputation, butcurrently without liquid funds. You believe the dollar is going to appreciate.What would you do?A. Borrow dollars in the U.S. and sell the dollars in the spot exchange market.B. B uy foreign (non-dollar) currencies forward.C. Sell foreign (non-dollar) currencies forward.D. Borrow yen in Japan and sell them on the spot market.37. If today’s spot rate on the British p ound is $2 and the 30-day forward rate onthe pound is $2.10 (ignoring any interest earnings or costs), then a speculatorwhoA. purchased 100 British pounds forward today can make $10 profit in 30days.B. p urchased 100 British pounds spot today can make $10 profit 30 daysfrom now.C. s old 100 British pounds forward today can make ￡10 profit 30 days fromnow.D. sold 100 British pounds spot today can make ￡10 profit30 days from now.38. Assume the interest rate in the U.S. exceeds Japan’s by 4 p ercentage points onan annual basis. If you were a speculator, you would take along position inyen ifA. the value of the yen is expected to increase by two percentage points on anannual basis.B. t he value of the yen is expected to fall by four percentage points.C. t he value of the yen is expected to fall by less than four percentage points.D. the value of the dollar is expected to fall by more than four percentagepoints.39. Under the asset market approach, if both U.S. and British interest rates rise bythree percentage points, we could expectA. the dollar to appreciate.B. t he dollar to depreciate.C. the exchange rate between the dollar and the pound to remainunchanged.D. investors to move their funds to a third country.40. If monetary authorities in the U.S. want to “lean against the wind,” theyshouldA. sell the dollar when it is depreciating relative to the yen.B. s ell the dollar when it is appreciating relative to the yen.C. b uy the yen when it is appreciating relative to the dollar.D. buy the dollar when it is appreciating relative to the yen.41. Under fixed exchange rates, if capital is perfectly mobile,A. both monetary and fiscal policy are powerful.B. n either monetary nor fiscal policy is powerful.C. fiscal policy is powerful but monetary policy is not.D. monetary policy is powerful but fiscal policy is not.42. International macroeconomic policy coordination has been rare becauseA. people speak different languages, making meetings difficult.B. c ountries do not always agree on goals that are mutually consistent.C. t he gains to coordination may be small.D. all of the above.。

英语考试单选题小技巧Tips for Multiple Choice Questions in English Exams。

Multiple choice questions are a common format in English exams, and they can often be challenging. However, with the right strategies, you can improve your chances of selecting the correct answer. In this article, we will discuss some useful tips to help you tackle multiple choice questions effectively.1. Read the question carefully。

The first step in answering multiple choice questions is to read the question carefully. Pay attention to keywords or phrases that can give you clues about the correct answer. Underline or highlight these keywords to help you focus on what the question is asking.2. Predict the answer。

Before looking at the options, try to predict the answer based on your knowledge of the topic. This can help you eliminate incorrect options and narrow down your choices. By having a clear idea of what you are looking for, you can save time and avoid getting confused by distractors.3. Evaluate all options。

英语各种题型的英文名English Test Question Types and Their Names.English language assessments come in a wide variety of formats, each designed to test a different aspect of language proficiency. From basic grammar and vocabulary checks to complex reading comprehension and writing tasks, each question type serves a specific purpose in evaluating the examinee's language skills. Here, we explore some of the most common English test question types and their corresponding names.1. Multiple-Choice Questions (MCQs)。

Multiple-choice questions are a staple of most standardized tests. They typically present a statement or scenario and offer several possible answers, among which the examinee must select the correct one. MCQs are effective at assessing knowledge of facts, concepts, and problem-solving abilities.2. True/False Questions.True/false questions require the examinee to determine whether a given statement is accurate or not. These questions are often used to test comprehension and understanding of key points or details.3. Matching Questions.Matching questions present a set of items and ask the examinee to pair them correctly. For example, they might be given a list of definitions and asked to match each definition with the correct term. These questions test the examinee's ability to recognize relationships and make connections between different pieces of information.4. Fill-in-the-Blank Questions.Fill-in-the-blank questions, also known as gap-fill exercises, require the examinee to provide missing words or phrases within a sentence or paragraph. These questionsassess vocabulary knowledge, grammar skills, and comprehension.5. Short Answer Questions.Short answer questions require the examinee to provide a brief response to a specific prompt or question. These questions can range from simple factual answers to more complex analytical responses, depending on the test's objectives.6. Essay Questions.Essay questions ask the examinee to write a detailed response to a given topic or prompt. These questions test writing skills, critical thinking, and the ability to organize and present ideas coherently. Essay questions often have a greater focus on higher-order thinking skills.7. Reading Comprehension Questions.Reading comprehension questions assess the examinee'sability to understand and interpret written material. These questions typically involve reading a passage and then answering questions about the content, purpose, orstructure of the text.8. Listening Comprehension Questions.Listening comprehension questions test the examinee's ability to understand spoken English. These questions often involve listening to a recording and then answering questions about what was said, the speaker's tone or attitude, or the main ideas presented.9. Speaking Tasks.Speaking tasks, such as interviews or presentations, evaluate the examinee's ability to communicate effectively in English. These tasks might involve describing an image, discussing a topic with a partner, or delivering a speech to a larger audience.10. Vocabulary and Grammar Tests.Vocabulary and grammar tests specifically assess the examinee's knowledge of English vocabulary words and grammar rules. These tests might include exercises such as word definitions, sentence correction, or identifying the correct form of a verb.In summary, the diversity of question types in English language assessments reflects the breadth and depth of language proficiency. Each question type targets specific skills and knowledge areas, allowing for a comprehensive evaluation of the examinee's English language abilities.。