1、Chapter17-MacroeconomicandIndustryAnalysisChapter17MacroeconomicandindustryAnalysis1. Atopdownanalysisofafirmstartswith____________. D. theglobaleconomy2. Anexampleofahighlycyclicalindustryis________. A. theautomobileindustry3. Demand-sideeconomicsisconcernedwith_______. A
2、. governmentspendingandtaxlevelsB. monetarypolicyC. fiscalpolicyE. A,B,andC4. Themostwidelyusedmonetarytoolis___________. C. openmarketoperations5. The"real",orinflation-adjusted,exchangerate,is C. thepurchasingpowerratio.6. The"normal"rangeofprice-earningsratiosfortheS&P5
3、00Indexis D. between12and257. Monetarypolicyisdeterminedby C. theboardofGovernorsoftheFederalReserveSystem.8. Atroughis________. B. atransitionfromacontractioninthebusinesscycletothestartofanexpansion9. Apeakis________. A. atransitionfromanexpansioninthebusinesscycletothes
4、tartofacontraction10. Iftheeconomyisgrowing,firmswithhighoperatingleveragewillexperience__________. A. higherincreasesinprofitsthanfirmswithlowoperatingleverage.11. Iftheeconomyisshrinking,firmswithhighoperatingleveragewillexperience__________. A. higherdecreasesinprofitst
5、hanfirmswithlowoperatingleverage.17-14Chapter17-MacroeconomicandIndustryAnalysis12. Iftheeconomyisgrowing,firmswithlowoperatingleveragewillexperience__________. C. smallerincreasesinprofitsthanfirmswithhighoperatingleverage.13. Iftheeconomyisshrinking,firmswithlowoperating
6、leveragewillexperience__________. C. smallerdecreasesinprofitsthanfirmswithhighoperatingleverage.14. Industrialproductionrefersto_________. C. thetotalmanufacturingoutputintheeconomy.15. GDPrefersto_________. D. thetotalproductionofgoodsandservicesintheeconomy16. Arapidlyg
7、rowingGDPindicatesa(n)______economywith______opportunityforafirmtoincreasesales. D. expanding;ample17. AdecliningGDPindicatesa(n)______economywith______opportunityforafirmtoincreasesales. A. stagnant;little18. Theaveragedurationofunemploymentandchangesintheconsumerpriceind
8、exforservicesare_________. C. laggingeconomicindicators19. Afirminanindustrythatisverysen
