对
错
第1题:
听力原文: Now European finance ministers are expected to reprimand the Irish government today after they meet in Brussels. They've been alarmed by December's budget in the Irish Republic which cut taxes and increased government spending. The other European countries fear this will stoke up inflation and undermine the stability of the Euro, the single currency.
Finance ministers from the European Unions 15 states are holding their regular monthly meeting in Brussels. They've been given the tricky task of handing out some public criticism to the government of the country with the most successful economy, the Irish Republic. In the last five years Ireland has boomed growing by an average eight percent a year, unemployment has reached its lowest level for 20 years and commodity prices in Dublin became more expensive than in London.
Why do other European countries criticize Ireland?
A.They worry that the Irish Republic's budget plan will undermine the stability of European Unions.
B.EU countries fear that Irish Republic's finance plan will cause inflation.
C.Other countries will have to cut taxes.
D.Other EU countries must increase government spending, too.
第2题:
此题为判断题(对,错)。
第3题:
听力原文:Banks are crucial to a country's economy, they serve as the center point of the exchange of money throughout the economy.
(10)
A.Cash is crucial to a country's economy.
B.Money is crucial to a country's economy.
C.Capital is crucial to a country's economy.
D.Banks are crucial to a country's economy.
第4题:
All of these applications will enhance the(130)of life and spur economic growth. Over half of the U.S. work force is now in jobs that are information(131). The telecommunication and information sector of the U.S. economy now(132)for 12 percent of the Gross Domestic Product, growing much faster than any other sector of the economy. Last year the(133)in this sector exceeded 700 billion dollars. The U.S. exported over 48 billion dollars of telecommunication equipment(134).
A.quantity
B.quality
C.mass
D.amount
第5题:
What can be inferred from Sal Guatieri's comments?( )
[A] House sales worsened other sectors of the economy.
[B] House sales resulted in the worsened credit crunch.
[C] The credit crunch worsened the whole economy.
[D] Mortgage applications have been falling for 6 years.
第6题:
For the year just ended, N company had an earnings of$ 2 per share and paid a dividend of $ 1. 2 on its stock. The growth rate in net income and dividend are both expected to be a constant 7 percent per year, indefinitely. N company has a Beta of 0. 8, the risk - free interest rate is 6 percent, and the market risk premium is 8 percent.
P Company is very similar to N company in growth rate, risk and dividend. payout ratio. It had 20 million shares outstanding and an earnings of $ 36 million for the year just ended. The earnings will increase to $ 38. 5 million the next year.
Requirement :
A. Calculate the expected rate of return on N company 's equity.
B. Calculate N Company 's current price-earning ratio and prospective price - earning ratio.
C. Using N company 's current price-earning ratio, value P company 's stock price.
D. Using N company 's prospective price - earning ratio, value P company 's stock price.
A. The expected rate of return on N company's equity =6% +0. 8*8% =12.4%
B. Current price -earning ratio = (1. 2/2) * (1 +7% )/ (12.4% -7% ) =11. 89
Prospective price - earning ratio = (1. 2/2) / (12. 4% - 70% ) =11. 11
C. P company's stock = 11. 89* 36/20 = 21. 4
D. P company's stock = 11. 11* 38. 5/20 = 21. 39
第7题:
The economy of the United states after 1952 was the econnomy of a well-fed,almost fully employed people. Despit occasional alarms, the country escaped any postwar depression and lived in a state of boom. A n economic survey of the year 1955, a typical year of the 1950’s, may be typical as illustrating the rapid economic growth of the decade. The national output was value at 10 percent above that of 1954 (1955 output was estimated at 392 billion dollars). The production of manufacturers was about 40 percent more than it had averaged in the years immediately following World War 2. The country’s business spent about 30billion dollars for new factories and machinery. National income available for spending was almost a third greater than it had been it had been in 1950. Consumers spent about 256 billion dollars; that is about 700 million dollars a day ,or about twenty-five million dollars every hour , all round the clock. Sixty-five million people held jobs and only a little more than two million wanted jobs but could not find them . Only agriculture complained that it was not sharing in the room. To some observers this was an ominous echo of the mid-1920’s . As farmer’s shre of their products declined , marketing costs rose. But there were , among the observers of the national economy, a few who were not as confident as the majority . Those few seemed to fear that the boom could not last and would eventually lead to the oppsite-depression. Which of the following were LEAST satisfied with the national economy in the 1950’s?()
第8题:
The dollar rose to a new high against the curd.
The American economy has rebounded.
Japan’s economy has not bottomed out yet.
The performance of many economies in Latin America is less than expected.
第9题:
rising
getting
looking
showing
第10题:
Tobacco is bad for people’s health but good for the national economy.
Tobacco has had a favourable economic impact in many countries in recent years.
Developed countries such as UK and the U.S. should transfer their technology in the tobacco industry to the developing countries.
Tobacco industry is bad for the economy for rich and poor countries alike.
第11题:
对
错
第12题:
the car manufacturers were concerned about the American economy.
the market’s performance was found to be the worst in 50 years.
the prices of fuel rose to a level which was last seen in the 1950s.
the fuel prices were so high and the economy was facing a depression.
第13题:
What is TRUE about the Irish Republic's economy?
A.It was the most successful among the EU countries.
B.It has increased 8% in the last five years.
C.The unemployment rate has reached its lowest level for 5 years.
D.The commodity prices have decreased greatly in the country.
第14题:
此题为判断题(对,错)。
第15题:
The pace of modern society get increasingly fast, but it get even faster when mobile phone comes into play.()
第16题:
Which of the following best summarizes the U. S. economic situation today?
[A]American economists are painting a gloomy picture.
[B]It is slowly warming up with moderate growth.
[C]Recession may come back anytime in the coming months.
[D]Most sectors are picking up at a surprisingly fast pace.
这是一道涉及对全文主旨理解的考题。综合全文,作者对美国经济进行了客观、全面的分析。从第二至四段的内容可知,作者对GDP的增长原因、经济对劳动市场的影响、美联储提高利率的措施都持有谨慎的乐观态度。但是作者也指出失业的速度有所缓和(三段末),美联储的货币政策相对中性化(四段末),工业生产部门的产量正在达到底线,复苏即将开始(第五段),办公设备部门将以比较缓和的速度继续增长(第九段末)。因此[B]项恰当地概括了美国的经济形势。
文章开篇就提到,政府报告带来的意外惊喜使经济学家对国民生产总值的预测上调。排除[A]项。首段提到,有观点认为经济衰退期已在12月或1月终止。但下文只描述了经济的复苏趋势,因此[C]项不符合。[D]项错在surprisingly fast pace,文中大量出现表示“适中、温和”含义的关键词,如tame,neutrality,relaxed pace等,表明经济的发展速度是缓慢的。
第17题:
第18题:
In 2007,M Corporation paid dividends totaling$3 million on net income of$15 million. 2007 was a normal year,and for the past five years,earnings have grown at a constant rate of 10 percent. However,earnings are expected to jump to$18 million in 2008,and the firm expects to have$12 million investment opportunities in 2009. It is predicted that M will not be able to maintain the 2008 level of earnings growth in the future——the high 2008 earnings level is attributable to an exceptionally profitable new product line introduced in that year—and the company will return to its previous 10 percent growth rate. M's target debt ratio is 40 percent in 2007,which will be continued in the future.
Requirment:
Calculate M's expected dividends for 2008 if it follows each of the following policies:
A.Its 2008 dividend payment is set to make dividends grow at the long-run growth rate in earnings.
B.It continues the 2007 dividend payout ratio.
C.It uses a residual policy with all distributions in the form of dividends.
D.It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy (Indicate the regular dividend and the extra dividend separately).
Answer:
A. Continuing growth dividend policy:
3*(1+10%) =$3.3 million
B.Constant payout ratio dividend policy:
18*3/15=$3.6 million
C.Residual dividend policy:
18 -12*(1- 40%) =$10.8 million
D. Regular - dividend - plus - plus - extra policy:
Regular dividend=3*(1+10%) =$3.3million
Extra dividend=10.8-3.3=$7.5 million
第19题:
keeps growing with lower interest rates
is likely to grow by 4% in 2009
is healthy though the growth rate was not as good as expected
is envied by many countries though the growth rate was not as good as expected
第20题:
Japan’s pension system is in bad shape.
Japanese people are spending less than they used to.
Japanese economy is in a glut, which hurts consumer spending.
Japan’s annual growth in consumer spending is about half the pace of that five years ago.
第21题:
第22题:
第23题: