When yield curves are downward sloping, long-term interest rates are above short-term interest rates.

A、neither rise nor fall in the near future.

B、remain relatively unchanged, but that long-term rates are expected to fall.

C、neither rise nor fall, but that long-term rates are expected to rise moderately.

D、rise moderately in the near future.

Which of the following is true according to this text?

A．Short-term interest rates should be guarded wisely.

B．Unemployment no longer constitutes a problem.

C．A sustainable recovery depends on corporate profits.

D．Too much caution might suspend economic growth.

A、rise in the future.

B、remain unchanged in the future.

C、decline moderately in the future.

D、decline sharply in the future.

A、the interest rate on long-term bonds will equal an average of short-term interest rates that people expect to occur over the life of the long-term bonds plus a liquidity premium.

B、buyers of bonds may prefer bonds of one maturity over another, yet interest rates on bonds of different maturities move together over time.

C、even with a positive liquidity premium, if future short-term interest rates are expected to fall significantly, then the yield curve will be downward-sloping.

D、all of the above.

E、only A and B of the above.

When interest rates increase, the price of______.

A．short-term bonds increases less than the decrease in the price of long-term bonds

B．long-term bonds decreases more than the increase in the price of short-term bonds

C．short-term bonds decreases less than the decrease in the price of long-term bonds

D．short-term bonds decreases more than the decrease in the price of long-term bonds

When the U.S. real interest rate is low, owning U.S. assets is______and so U.S. net foreign investment is______.

A．more attractive... high

B．more attractive... low

C．less attractive...high

D．less attractive...low

When you apply for a loan for your ear, short-term loans with the same interest rate ______.

QuesUons下列各are based on the following paassage When we talk about Americans barely into adulthood who are saddled with uttbearable levels of debt, the conversation is almost always about student loan debt. But theres a growing body of evidence suggesting that todays young adults are also drowning in credit-card debt-and that many of them will take this debt to their graves. More than 20% overspent their income by more than $100 every single month. Since they havent built up their credit histories yet, its a safe bet that theae young adults are paying relatively high interest rates on the resulting credit card debt. Although many young people blame "Socializing" a~ a barrier to saving money, most of them arent knocking back $ 20 drinks in trendy ( 时尚的) lounges. Theyre struggling with much more daily financial demands. To a disturbingly large extent, the young and the broke are relying on credit cards to make it until their next payday. This obviously isnt sustainable in the long run, and its going -to put a huge drag on, their spending power even after they reach their peak earning years, becattse theyll sttll be paying interest on that bottle Of orange juice or box of spaghetti (意式面条) they bOUght a decade earlier. A new study out of Ohio State University found that young adults are accumulating credit card debt at a more rapid rate than other age groups, and that theyre slower at paying it off, "If what we found continues to hold true, we may have more elderly people with substantial financial problems in the future," warns Lucia Duma, professor of economics at Ohio State, "If our persist, we may be faced with a financial crisis among elderly ,people who cant pay off their credit cards, " Dunn says a lot of these young people are never going to get out from under their credit card debt."Many people are borrowing on credit cards so heavily that payoff rates at these levels are not sufficient to recover their credit card debt by the end of their life, which could have loss implications for the credit card issuing banks. " Wilt is the main idea of the first paragraph?

A.Many young Americans will never be able to pay off their debts.

B.Credit cards play an increasingly important role in college life.

C.Credit cards are doing more harm than student loans.

D.The American credit card system is under criticism.

AMERICA'S central bank sent a clear message this week. For the second consecutive meeting, the Federal Open Market Committee, the central bank's policy-making committee, left short term interest rates unchanged at 1.75%. But it said that the risks facing the economy had shifted from economic weakness to a balance between weakness and excessive growth. This shift surprised no one. But it has convinced many people that interest rates are set to rise again—and soon.

Judging by prices in futures markets, investors are betting that short-term interest rates could start rising as early as May, and will be 1.25 percentage points higher by the end of the year. That may be excessive. Economists at Goldman Sachs, who long argued that the central bank would do nothing this year, now expect short-term rates to go up only 0.75% this year, starting in June. But virtually everyone reckons some Fed tightening is in the offing.

The reason? After an unprecedented 11 rate-cuts in 2001, short term interest rates are abnormally low. As the signs of robust recovery multiply, analysts expect the Fed to take back some of the rate-cuts it used as an "insurance policy" after the September 11th terrorist attack. They think there will be a gradual move from the Fed's current "accommodative" monetary stance to a more neutral policy. And a neutral policy, many argue, ultimately implies short term interest rates of around 4%.

Logical enough. But higher rates could still be further off, particularly if the recovery proves less robust than many hope. Certainly, recent economic indicators have been extraordinarily strong: unemployment fell for the second consecutive month in February and industrial production rose in both January and February. The manufacturing sector is growing after 18 months of decline. The most optimistic Wall Streeters now expect GDP to have expanded by between 5% and 6% on an annual basis in the first quarter.

But one strong quarter does not imply a sustainable recovery. In the short term, the bounce-back is being driven by a dramatic restocking of inventories. But it can be sustained only if corporate investment recovers and consumer spending stays buoyant. With plenty of slack capacity around and many firms stuck with huge debts and lousy profits, it is hard to see where surging investment will come from. And, despite falling unemployment, America's consumers could disappoint the bulls.

These uncertainties alone suggest the central bank will be cautious about raising interest rates. Indeed, given the huge pressure on corporate profits, the Federal Reserve might be happy to see consumer prices rise slightly. In short, while Wall Street frets about when and how much interest rates will go up. The answer may well be not soon and not much.

The purpose of the author in writing this text is to

A．interpret the message from the central bank,

B．justify the rise of short term interest rates.

C．illustrate what is weakness and undue growth.

D．contrast different views on economic indices.

According to the UIP theory, when the foreign interest rate increases, while the domestic interest rate and the spot exchange rate expected at some appropriate time in the future remain constant, the current spot exchange rate will （）

A．Increase

B．Decrease

C．constant

D．uncertain