[金融英语考试密押资料]金融英语中级经济学模拟2

金融英语考试密押资料金融英语中级经济学模拟2金融英语考试密押资料金融英语中级经济学模拟2金融英语中级经济学模拟2SECTION ONEQuestion 1 Answer all questions. Read the following statements and choose the best answer by writing the alphabetical letter on the answer sheets. 问题:1. If a market is in equilibrium _. a.buyers and sellers can buy and sell all they wish at the current price.b.there is no tendency for the price to rise or fall.c.the quantity supplied equals the quantity demanded.d.All of the above are correct.答案:D问题:2. If the marginal rate of technological substitution (MRTS) is more than the price ratio of labor over capital (w/r), then to minimize cost the firm should _ the input of capital and _ the input of labor. a.increase, decreaseb.decrease, increasec.decrease, decreased.increase, increase答案:B问题:3. Tom cannot tell the difference between Coke and Pepsi. For Tom, these goods are _. a.perfect substitutes.b.perfect complements.c.necessities.d.None of the above.答案:A问题:4. If the demand for CDs is more elastic than the supply, a 3-tax per CD will increase the consumer price by _. a.3.b.more than 1.50, but less than 3.c.1.50.d.less than 1.50.答案:D问题:5. If the price of a good changes, both the substitution effect and the income effect reinforce each other, then the good is a(n) _. a.normal good.b.inferior good.c.Giffen good.d.None of the above.答案:A问题:6. Suppose the economy is running at the level of potential GDP, an increase in government spending in the long run will _ the price level and _ the output level. a.increase, not changeb.increase, increasec.increase, decreased.decrease, increase答案:A问题:7. The expansionary fiscal policy has _ a.lessened the economic recession but increased the government debt.b.lessened the economic recession and decreased the government debt.c.worsened inflation but decreased the government debt.d.lessened inflation but increased the government debt.答案:A问题:8. The possible reason for commercial banks to hold excess reserves is _. a.they have attracted too many deposits.b.they could not find enough suitable borrowers.c.they have borrowed too much from the central bank.d.All of the above.答案:D问题:9. Open-market operations refer to _. a.loans from commercial banks to corporations and consumers.b.inter-bank loans.c.changes in interest rates caused by the changes in commercial bank loans.d.buying and selling governmental securities by the central bank.答案:D问题:10. A person who is waiting for the return to work belongs to _ a.the employed.b.the unemployed.c.non-labor force.d.those who have lost confidence.答案:BSECTION TWO Answer any FOUR of the six questions. Question 2问题:1. The world producer price for baseballs is 24 per dozen, and almost all of them are produced outside the U.S. Suppose the U.S demand curve is QD=100,000-2,000P, where P is price per dozen, and Q is measured in dozens. The U. S domestic supply curve is QS=-10,000 + 1,000P.(a) Before a tariff is imposed, what is the U. S equilibrium price? Domestic consumption? Domestic production? Imports?(b)Congress has decided to help the baseball manufacturing industry for national security reasons, and it imposes a tariff of 6 per dozen. What are the new equilibrium price, domestic consumption, domestic production, and imports?答案:(a)Without a tariff, the domestic equilibrium price is the world price of 24. The domestic consumption equilibrium is QD(24)=100,000-2,000(24)=52,000. Domestic supply is QS(24)=-10,000+1,000(24)=14,000, so imports equal 38,000.(b)The new equilibrium price is 24+6=30. After the tariff, domestic demand is QD(30)= 100,000-2,000(30)=40,000, and domestic supply is QS(30)=-10,000+1,000(30) = 20,000; imports therefore fall to 20,000.Question 3问题:1. A medium-sized city has two major industries: financial services and manufacturing of electronic equipment. Suppose that restrictions on interstate competition in the market for financial services lead to a large expansion of the financial services sector in the city.(a)What effect do you predict that this increase in jobs would have oil wages and housing prices in the city?(b)What effect do you think there would be on the manufacturing sector in the city? Would you expect that manufacturing employment would rise or fall?答案:(a)An increase in the demand for labor should increase wages in equilibrium. Higher wages will attract new workers to the city, as well as raise the incomes of all workers in the city. This, in turn, should increase the demand for housing, and thus raise the price of housing.(b)Wages in the manufacturing sector would presumably rise due to competition for workers from other sectors. Increased housing would also raise the wages needed to attract new workers from other cities. Thus, this