Question 18

Questions 18-20

Question 18

Write NO MORE THAN TWO WORDS OR A NUMBER.

Doctors start seeing patients at the Health Centre from 【18】______ o'clock.

【18】

Question 18

In a standard deck of playing cards, there are 52 cards. Of these cards, there are 2 red kings. If someone randomly selects 2 cards from the deck, the probability of selecting exactly one red king is the joint probability of a red king on the first draw and not on the second draw [(2/52) × (50/51)] plus the joint probability of a red king on the second draw and not the first draw [(50/52) × (2/51)]. This probability is best described as a(n):

A.empirical probability.

B.subjective probability.

C.a priori probability.

D.Bayes probability.

A.In the long run, both price takers and price searchers maximize profits at the quantity corresponding to the minimum point on the average total cost curve.

B.Price takers maximize profits at the point price = marginal revenue = marginal cost.

C.In the long run, both price takers and price searchers will have zero economic profits.

D.The potential allocative inefficiency of a price searcher engaged in monopolistic competition includes the social cost of producing where price = marginal cost.

A.Replacement projects that will lead to cost reductions.

B.Projects that involve a new product or a new market.

C.Replacement projects that maintain the existing business.

D.Expansion projects.

【C18】

A．theme

B．topic

C．problem

D．question

?Read the article below about general managers and the questions.

?For each question 13- 18, mark one letter (A, B, C or D) on your Answer Sheet for the answer you choose.

General Managers (GMs) are a part of middle management and play a key role in organisations. Depending on the size of the organisation a GM can be, for example, a senior manager responsible for a division or a subsidiary company or a less senior manager in charge of a department or section. They are a link or a less senior manager in charge of a department or section. They are a link between top management, who make policy decisions, and junior managers, who carry out these policies. Top management work through GMs and they can make the difference between good and bad policy and a motivated or demotivated workforce. The relationships GMs have with their bosses, subordinates and each other are very important for the success or failure of an organisation. GMs within the same organisation need to have good working relationships with each other in order to apply policies in the same way throughout the organisation. At the same time, GMs are also required to make broad policies into plans that suit their particular divisions or departments.

In a company conflicts between the activities of various departments will inevitably arise, and it is the job of the GM to act as a link between the departments. Research has shown that the personality of a GM is very important in helping to resolve these departmental problems. The research has also shown that (as far as the personalities of GMs are concerned) GMs are ambitious people who have balanced temperaments and are good with people. In addition, good GMs combine these personality traits with a detailed knowledge of their business. They work hard to fit into and be accepted by the culture of their particular organisation. It has also been demonstrated that high performing GMs have three sets of skills.

First, they need agenda-setting skills, so that they can identify and convince others of the most important objectives of a project. Second, GMs need to develop networking skills. Good GMs deliberately attempt to develop contacts-within and outside the organisation. Such a network of contacts means that the GM is aware of issues and can act on them quickly. To develop agenda-setting and networking skills, it is essential for a GM to be skilful in dealing with people. This is particularly important as they spend such a large amount of time working with employees at all levels of a company.

In terms of work, tasks and attitude, the research has shown that managerial work is done in short bursts, with managers Working on many simultaneous projects, which can sometimes have conflicting aims. GMs discuss a wide range of subjects in an unconnected way and tend to ask questions rather than give orders. They require large amounts of information which they pass on to top management to help them to make decisions. In order to collect this information, they must learn to work in uncertain and changing environments. As a result, both the approach and style. of a GM change to adapt to the setting in which they are operating. They must be flexible to succeed.

GMs must have good relationships with each other in order to______

A．carry out policies uniformly.

B．manage each other's departments.

C．motivate junior management.

D．find out the differences between departments.

?Read the article below about common stock and preferred stock.

?For each question 13-18, mark one letter (A, B, C or D) on your Answer Sheet, for the answer you choose.

Common Stock and Preferred Stock

A public corporation issues certificates of ownership, called common stock, that may be traded on stock exchanges. Anyone can buy and sell shares of common stock. Owners of stock are referred to as shareholders and stockholders. Common stockholders are accorded certain rights by the corporate charter. In the United States, these rights vary from state to state, but in general the articles of incorporation spell out voting rights and rights to receive profits.

Common stockholders are the voting owners of a corporation. They are usually entitled to one vote per share. They may vote on numerous decisions affecting the corporation (including a derision to sell or merge with another corporation) and elect a board of directors, who, in turn, hire managers to run the business. A majority shareholder is one who owns over 50 percent of the outstanding (issued) shares in a corporation and, thus, can call the shots. All other shareholders are minority shareholders. In large corporations no single person or organization owns anywhere near a majority interest. In large, publicly owned corporations a shareholder with as little as 10 percent of the shares may control the corporation effectively. If things go badly, a coalition of so called dissident shareholders may gather enough votes to replace the existing board of directors; the new hoard may fire the existing management and bring in their own management team.

Although common stock represents ownership in a company, it does not guarantee the owners a specific rate of return. As owners, the stockholders receive profits after all expenses, including debts and taxes, have been paid. They receive profits from the business in the form. of dividend payments, which represent a percent-age of profits. Not all after-tax profits are paid to the stockholders in dividends. Directors usually deride quarterly how much, if any, of the profits they wish to distribute to the owners. The profits are either distributed to the owners in dividends or they are reinvested back into the company in the form. of retained earnings. If the company decides to keep the profits, the company may become more valuable and the price of the stock usually goes up. Some investors prefer profits in the way of dividends while others speculate for an increase in the price of stock. If a company goes broken, common stockholders get last claim on whatever is left over.

Corporations may also issue preferred stock to investors. Preferred stock usually has no vote in the election of the bard of directors, but does get preference in the distribution of the company's earnings. It offers investors a different type of security and may be issued only after common stock has been issued. The term "preferred" applies to two conditions. First, preferred stockholders gain preferential treatment in the matter of dividends; that is, they receive a fixed rate of dividends prior to the payment of dividends on common shares. Second, if the company goes out of business or liquidates, pregerred stockholders are closer to the front of the line than common stockholders! when distributing the company's assets.

Dividends to preferred stock may be cumulative or noncumulative. Cumulative preferred stock maintains its claim to dividends even if the company decides not to pay them. For instance, if the company had a bad year in 1994, they might decide not to pay dividends. But if they had a good year in 1995. noncumulative preferred stock dividends do not accumulate. If dividends are not declared, noncumulative owners lose their claim to the profit of tha

A．the voting rights the stockholders have

B．the stock shared by common people

C．the profits the shareholders receive

D．the ownership of a public corporation

A、By the changes of phrases.

B、By the tone of speaking.

C、By the meaning of words.

D、By the gender of speakers.

【C18】

A．Questioning

B．Recognizing

C．Praising

D．Criticizing

Determine what number should replace the question mark: 1 64 243 256 125 36 ?

A．72

B．25

C．18

D．7