Chapter17
Macroeconomic and industry Analysis
1. A top down analysis of a firm starts with ____________.
D. the global economy
2. An example of a highly cyclical industry is ________.
A. the automobile industry
3. Demand-side economics is concerned with _______.
A. government spending and tax levels
B. monetary policy
C. fiscal policy
E. A, B, and C
4. The most widely ud monetary tool is ___________.
C. open market operations
5. The "real", or inflation-adjusted, exchange rate, is
C. the purchasing power ratio.
6. The "normal" range of price-earnings ratios for the S&P 500 Index is
D. between 12 and 25
7. Monetary policy is determined by
C. the board of Governors of the Federal Rerve System.
8. A trough is ________.
B. a transition from a contraction in the business cycle to the start of an expansion
9. A peak is ________.
A. a transition from an expansion in the business cycle to the start of a contraction
10. If the economy is growing, firms with high operating leverage will experience __________.
A. higher increas in profits than firms with low operating leverage.
11. If the economy is shrinking, firms with high operating leverage will experience __________.
A. higher decreas in profits than firms with low operating leverage.
从零开始练瑜伽12. If the economy is growing, firms with low operating leverage will experience __________.
C. smaller increas in profits than firms with high operating leverage.
13. If the economy is shrinking, firms with low operating leverage will experience __________.
C. smaller decreas in profits than firms with high operating leverage.
14. Industrial production refers to _________.
C. the total manufacturing output in the economy.
15. GDP refers to _________.
D. the total production of goods and rvices in the economy
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sigi16. A rapidly growing GDP indicates a(n) ______ economy with ______ opportunity for a firm to increa sales.
D. expanding; ample
17. A declining GDP indicates a(n) ______ economy with ______ opportunity for a firm to increa sales.
A. stagnant; little
18. The average duration of unemployment and changes in the consumer price index for rvices are _________.
C. lagging economic indicators
19. A firm in an industry that is very nsitive to the business cycle will likely have a stock beta ___________.
A. greater than 1.0
20. If the economy were going into a recession, an attractive industry to invest in would b
e the ________ industry.
B. medical rvices
21. The stock price index and contracts and new orders for nondefen capital goods are
A.汽车卡通短片 leading economic indicators.
22. A firm in the early stages of the industry life cycle will likely have ________.
B. high risk.
C. rapid growth
E. B and C
23. Assume the U.S. government was to decide to increa the budget deficit. This action will most likely cau __________ to increa
A. interest rates
B. government borrowing
D. both A and B
24. Assume the U.S. government was to decide to decrea the budget deficit. This action will most likely cau __________ to decrea
A. interest rates
B. government borrowingscoreboard
华盛顿邮报D. both A and B
25. Assume that the Federal Rerve decreas the money supply. This action will cau ________ to decrea.
C. investment in the economy
26. If the currency of your country is depreciating, the result should be to ______ exports and to _______ imports.
B. stimulate, discourage
27. If the currency of your country is appreciating, the result should be to ______ exports and to _______ imports.
C. discourage, stimulate
28. Increas in the money supply will cau demand for investment and consumption goods to _______ in the short run and cau prices to ________ in the long run.
A.fca increa, increa
29. The North American Industry Classification System (NAICS)
A. are for firms that operate in the NAFTA region.
B. group firms by industry.
D. A and B.
30. If interest rates increa, business investment expenditures are likely to ______ and consumer durable expenditures are likely to _________. suchthat
stand by me 中国好声音D. decrea, decrea
31. Fiscal policy generally has a _______ direct impact than monetary policy on the economy, and the formulation and implementation of fiscal policy is ______ than that of monetary policy.
B. more, slower
32. Fiscal policy is difficult to implement quickly becau
踟蹰怎么读A. it requires political negotiations.
B. much of government spending is nondiscretionary and cannot be changed.
D. A and B.
