2013荣誉考资特许公认会计师acca f1与企业真题串讲讲义

前言Chapter1ThebusinessChapter2StakeholdersinbusinessOrganisationsChapter3ThebusinessenvironmentChapter4Themacro-economicenvironmentChapter5Themicro-economicenvironmentChapter6OrganisationalstructureChapter7OrganisationalChapter8CommitteesinbusinessorganisationChapter9ernanceandsocialresponsibilityChapter10BusinessAccountingandFinanceChapter11ExternalandinternalauditChapter12Lawandregulation erningaccountingChapter13Financialsystems,proceduresandITChapter14InternalcontrolandsecurityChapter15BusinessChapter16Leadership,ManagementandSupervisionChapter17RecruitmentandselectionChapter18Equalopportunities&diversityChapter19Individuals,groupsandteamsChapter20MotivatingindividualsandgroupsChapter21TraininganddevelopmentChapter22PerformanceappraisalChapter23aleffectivenessChapter24InformationwithinbusinessChapter25CommunicationwithinbusinessChapter26EthicsandEthicalbehaviourChapter272006PilotPaperChapter282009PilotChapter292011PilotPaperChapter30PastExamPaperChapter31Exercisebank前ExamPiecingtogetheryourstudiesforexamExamTheKnowledgemoduleexamsfortheACCAQualificationareallassessedusingshortquestions,knownasobjectivequestions.Thisistoensurethatexaminersareabletoassesswidelyacrosstheirsyllabusesinthetimeallowed.Allthreeexamscomprise502-markquestions.Thepassmarkis50%.ExamTheexamshaveatimelimitoftwohours.Thisstructureisthesameforbothpaper-basedandcomputer-basedexams（CBEs）.PassratesDecember June December June December June December June December ExaminationpreparationSTARTWITHTHESTUDYREADTHEOFFICIALRECOGNISETHEQUESTIONDON’TJUSTPRACTISEOBJECTIVETESTMANAGEYOURTIMEINTHEUSETHEWEBSITESTARTWITHTHESTUDYAlwaysstartwiththeStudyGuide.ThisisthesourcethattheexaminersworkfromwhenpreparingtheexamsandonwhichthebankofCBEquestionsisbased.Astheexamstructureallowsexaminerstoask50questions,andthesequestionsaredrawnfromacrossallsyllabusareas,youmustmakesurethatyoufullyunderstandasmanyareasaspossible.READTHEOFFICIALStudentsusingtheofficialtextsshouldensuretheyreadthemthoroughlyinordertogainanadequategroundingintheknowledgetheyneedfortheexam,andalsotohelpthemapplytheirknowledgetoexamquestions.Inadditiontothestudytexts,thesepublishersalsoprovideavarietyofrevisionmaterials,includingpracticequestions,tohelpyoureinandmeasureyourunderstandingofthesyllabus.RECOGNISETHEQUESTIONMultiple-choicequestions（MCQ）–CandidatesselectthecorrectanswerfromnormallyfourDON’TJUSTPRACTISEOBJECTIVETESTInsummary,practisinglongerquestionswillhelpyoutogainadeeperlevelofunderstandingofthesubjectmatter,whichwillmakeitmucheasierforyoutorecallrelevantconceptswhencompletingyourobjectivetest?basedexams.MANAGEYOURTIMEINTHEAtotalof100marksarethereforeavailableinthetwo-hourHowever,dependingonthepaperandonthequestion,somequestionswilltakelongertocompletethanothers.Asaroughguide,youshouldhavecompletedabout25questionsbytheendofthefirsthour.USETHEWEBSITEPaperLookfor:Examiner’sreportandapproachTechnicalarticlesExaminer’sreviewofstudents’performanceStudents’strengthsandweaknessesFindingsinrecentexamsNewOrganisations,stakeholdersandBusinessorganisationstructure,functions Accountingandreportingsystems,controlsandLeadingandmanagingindividualsandaleffectivenessandProfessionalethicsinaccountingandbusinessFinanceareas（accountingandOrganisations,PEST,SWOT,valuechain,Handy’sculturaltypes,Porter’sStakeholders,marketing,spreadsheets/databases,timemanagement, aldevelopmentns,performanceFindingsinrecentMoreevidenceofstudyacrosstheWHOLELessexamplesofverylowsuccessratesonindividualquestionsBetterabilitytodealwithscenarioquestionsVeryhighpassratesonmanualvcomputerisedsystems,organisationalconcepts,BlakeandMouton,purposeofaccountsHRMtopics,especially,morecomplicatedtheories,suchasBelbin,HoneyandMumford,Kolbandsomemotivationtheories,occasionallyMendelow,Tuckman ernanceandrelatedconceptsEconomics-macro-economic,fiscalWithintheaccountingareasofthesyllabus,externalauditors,dataprocessingcontrols,segregationofduties,substantivetestsHowtodealwithAseachMCQrelatestoaspecificissuewithinthesyllabus,eachexamwillincludebroadcoverageofthesyllabus.Thismeansthatto iseyourchancesofsuccessyoumusthavestudiedthewholesyllabus.Whenprepareforyourexamandrevieweachoption,itisimportanttoensurethatyouunderstandexactlywhattheunderlyingpointis–andtomakesurethatyoureflectonthistoenhanceyourlearning.ReadtheYouneedtoreadthequestionextremelycarefully,rememberingthatthewordinghasbeenchosendeliberae.g.ABCCohasasystemwhichrecordsdetailsofordersreceivedandgoodsdispatched,scustomersandallocatesremittancestocustomers.Whattypeofsystemisthis?AManagementinformationBDecisionsupportCKnowledgemanagementDTransactionprocessingToselectthecorrectanswer,thebestapproachistoconsiderwhateachofthefoursystemsisintendedtoAmanagementinformationsystemisintendedtoprovideinformationtomanagers.Informationisprocesseddata,whichisusefulformakingdecisions.Adecisionsupportsystemisintendedtodoexactlywhatthenamesuggests–provideinformationtoassistmanagerstomakedecisions.Aknowledgemanagementsystemisintendedtocreate,capture,storeandshareinformation.Thestemnotesthatthesystem‘recordsdetailsoforders’（capture）andscustomers（creates）.Thismaycreateconfusionfortheill-preparedcandidate.Disthecorrectchoicebecauseatransactionprocessingsystemdealswithdata–whichisprocessedtocreateFromthiswecanseethatacandidatewhoisclearaboutthedifferencebetween‘data’and‘information’willbeabletoanswerthisquestionwithoutunduedifficulty,butveryclearthinking,andapplicationofknowledge,is法OtherAboveallelse,rememberthatyoushouldnotallowyourselfto esostuckonaquestionsothatyourunoutoftime.Ifyouarestuckonaquestion,asalastresort,itisworthselectingtheoptionyouconsidermostlikelytobecorrect,andmovingon.Ifyouaresittingapaper-basedexam,youmustremembertorecordyouranswerstoMCQsonyourCandidateRegistrationSheet（CRS）soundpreparationandstudyingacrossthesyllabuspractisingasmanydifferentquestionsaspossibledeveloyourownstrategyfordifferenttypesofquestionthinkingclearlyintheexamworkingoutyourstructuringyourapproachtothepaperansweringallthequestions.MCQselection 法Inahighereducationteachingorganisationanacademicfacultyisorganisedintocoursesanddepartments,whereteachingstaffreportbothtocourseprogrammemanagersandtosubjectspecialists,dependingonwhichcoursetheyteachandupontheirparticularsubjectspecialism.AccordingtoCharlesHandy’sfourculturalstereotypes,whichofthefollowingdescribestheabovetypeoforganisationalstructure?AB自选Thefollowingarestakeholdersofabusinessorganisation:1.Manager,2.Customer,3.ExecutiveDirector,4.WhichoftheaboveareCONNECTEDA1,2andB2andC2and3D3and猜词WhatistheresponsibilityofaPublicOversightATheestablishmentofdetailedrulesoninternalauditBThecommissioningoffinancialreportingCThecreationoflegislationrelatingtoaccountingDThemonitoringandenmentoflegalandcompliance排除Poorquality lcommunicationwillresultinwhichoftheALackofBLackofCLackofDLackof不选WhatistheprimaryresponsibilityoftheexternalToverifyallthefinancialtransactionsandsupportingationofToensurethatthe’sfinancialstatementsarereasonablyaccurate fromToreportallfinancialirregularitiestotheshareholdersoftheToensurethatallthe’sfinancialstatementsarepreparedandsubmittedtotherelevantonChapter1ThebusinessTodescribethebasicconceptsandmainbusinessfunctionsofWhichitemsbestdescribeanWorkingtogether,collectivegoals,controlledTeamwork,clearrules,collectivegoalsC.Synergy,clearroles,acceptedleaderD.Definedhierarchy,clearobjectives,formalrules Acontainsthemostgeneraldescriptorsrelatedtoanorganisation.“synergy”,“acceptedleader”areelementsofteams,ratherthanWhichofthefollowingbestdescribespublicsectorTradedonthestockIncludecharitiesandOwnedby Havetheobjectiveofinfluencing ernment “PublicSector”relatesto ernment.Thisshouldnotbeconfusedwith“publiclytraded”whichmeansthatthe islistedonarecognisedstockexchangeandcansellitssharestothegeneralpubliC.Anyentityinthe“publicsector”wouldnormallynothaveshares.Acooperative（collective）wouldbecharacterised ,whilewouldbe.WhichwordscorrectlycompletethisA.anot-for-profitorganisation,publicB.acharity,profitC.meetingtheneedsofitsmembers,publiclyD.anNGO,[答疑编 ：针对该题提问isnotapublicsectorbusiness,whilstacooperativeisnotdefinedasbeinganNGOoraAcomputer hasidentifiedthatthereisdemandforalower-costlaptoptobeincludedinitsproductrange.WhichtwodepartmentswouldmostlikelybetaskedwithachievingA.Purchasing,ResearchandDevelopmentB.ResearchandDevelopment,MarketingC.Marketing,ManufacturingD.Purchasing,Directserviceprovision[答疑编 ：针对该题提问Themarketingdepartmentwouldhavealreadyidentifiedtheneed;themanufacturingdepartmentwouldbuildittothedeterminedspecificationswithdirectserviceprovisiondealingwithaftersalesserviceandmaintenance.Therefore,purchasingandR&Dwouldworktogetherindesigningthesystemandsourcingthenecessarycomponentsattheappropriateprice.Whichelementscharacterisetheconceptof“service”?A.varied,tangibility,imperishableB.consistency,tangibility,simultaneityC.tangibility,inconsistency,simultaneityD.variability,simultaneity,perishability[答疑编 ：针对该题提问Serviceprovisioncharacteristicsincludevariability,intangibility,perishability,simultaneityandownership.“Marketingisaprocesswhichidentifies,anticipatesandsatisfiescustomerneedsprofitably.”IsthisstatementTrueorFalse?[答疑编 ：针对该题提问Themaindecisionunder“ce”amarketingmanagerhastotakewhenreviewingthemarketingmixiswhethertoselldirectlyorindirectlytocustomers.IsthisstatementTrueorFalse?[答疑编 ：针对该题提问True.Howtheproductisdistributed（i.e.logisticsofstorageandtransportation）.Howtheproductiscedinfrontofthecustomer.Whataretheelementsofthepurchasingmix?A.Price,quality,promotion,ceB.Promotion,price,distribution,ty,qty,[ty,qty,[

ce,AccordingtoProfessorKotler,thekeyelementsofamarketingconcept Whichfivewords,incorrectorder,completethissentence?A.needs,demands,wants,valueandsatisfactionB.meetingcustomerneeds,gainingcompetitiveadvantage,products,transactionsandrelationshipsC.quality,ty,price,marketsandproductsD.needs,products,value,exchangeandmarkets Needsalsocoverswantsanddemands.ValuecoverssatisfactionandExchangerelatestotransactionsand isprovidingaccountancyservicesforSMEs.YouareheavilydependentonyourWhichthreePsdoyouhavetoaddtotheordinaryfourPsofthemarketingA.Productivity,processesandphysicalevidenceB.Production,processesandphysicalevidenceC.People,processesandphysicalevidenceD.People,processesandprocurement[答疑编 ：针对该题提问People–corporateculture,motivation,attitude,skills,commitment.Process–procedures,capacity,speed,access.Physicalevidence–environment,facilities,packaging,brochures,businesscards.“Segmentationofamarkethastodowithdividingthemarketintodistinctsubsetsofcustomersinordertobeabletotargetthemarketwithadistinctmarketingmixandpositionyourselfaccordingly.”IsthisstatementTrueorFalsefortheproduction Chapter2Stakeholdersinbusinessdefinestakeholdersandexintheagencyrelationshipdefineinternal,connectedandexternalstakeholdersidentifythemainstakeholdergroupscomparethepowerandinfluenceofvariousstakeholderThebi-directionalnatureofstakeholdersmeansthatstakeholderscanaffectboththeachievementofanorganisation’sobjectivesandhowanorganisationusesitsresources.IsthisstatementTrueorFalse?[答疑编 ：针对该题提问False.Bi-directionalityinthiscasemeans“toaffect”and“tobeaffectedby”theorganisation.Thestatementgivenisuni-directionalinthatbothelementsrelatetothebusinessonly.Theimpactonthestakeholderisnotgiven.Inapubliclytraded ,theshareholdersrelyontheindependentauditorstoverifyfinancialstatementspreparedbymanagement.Thisreduces WhichphrasebestcompletestheA.monitoringcostsC.theagencyproblem[答疑编 ：针对该题提问“Agencyproblem”referstotheinherentofinterestbetweentheownersofa andthemanagersofthat .Themanagersmaywishtopursuetheirowninterestsratherthanthoseoftheshareholders.Bycarryingoutanindependentauditofthefinancialstatementsproducedbythedirectorsfortheshareholders,theauditorsarereportingonthe“truthandfairness”ofthestatements.TheauditorswillalsoactasadeterrenttothedirectorsperpetratinganyfraudastheauditorsareexpectedtocarryouttheirworktohaveareasonableexpectationofdetectingfraudandmaterialThebankandshareholdersarepartofwhichgroupofstakeholders?[答疑编 ：针对该题提问Connectedstakeholders,whilstexternal,canbeidentifiedasconnectedbecausetheywillusuallyhaveacontractualrightthat“connects”themtothebusiness.Otherexamplesincluders,customers,auditors,tradeunions.Pureexternalstakeholdersdonothavecoreconnectionswiththebusiness（e.g.nocontractualrightswiththebusiness）.Theyinclude ernments,localcommunitiesandpressuregroups.Internalstakeholdersareintimayrelatedtotheorganisation（e.g.employees,directors）.Unrecognisedstakeholdersareexactlythat–groupsnotrecognisedashavingstakeholderrightsbythe Whichofthefollowingbestdescribestheactivitiesofa A.AttemptstoinfluencelegislationonbehalfofaB.Attemptstoinfluence ’sC.SearchesforspecialistemployeesonbehalfofD.Takesdirectactionagainsttheactivitiesofa Alobbyistactsonbehalfofanorganisationusuallyfororagainstparticularorproposedlegislation.Soa lobbyistactsintheinterestsofthethatengagestheirservices.Donotconfuse“lobbyist”with“activists”whoactagainsta.Asanexample,Greenpeaceengagelobbyiststosupportorderailparticularenvironmentallegislation（e.g.thebuildingofathirdrunwayatLondonHeathrowairport）theyalsotakeactivistandpressureactiondirectlyagainstcompanies（e.g.theoccupationofoilrigsduetobesunkintheNorthSea）.Thetaxauthorityofacityhaslittleinterestintheaffairsofachainofcardealershipsexceptthattheypaytheirtaxes.However,ifthe ’staxesareincorrectlypaidorpaidlatetheauthoritycanchargehighAccordingtoMendelow,whatshouldthecardealershipKeepthe Treatthe askeyKeepthe Putminimaleffortintodealingwiththetax Solongasthecardealershippaystheirtaxesontimeandforthecorrectamount,thetaxwilltakelittleinterestintheiractivities,apartfromoccasionalvisitstocheckthebooksandrecords.Theydo,however,havehighpower（beingsupportedbylegislation）shouldtherebeaneedtouseit.Ifthetaxationstarttotakeakeeninterestintheactivitiesofthebusiness,thentheycan eakeyAcommunityactiongrouphasbeenformedinresponsetoannedshopmallinthecenterofthecity’shistoricdistrict.Thedevelopment hashiredapublicrelationsfirmtoattempttoinfluencepublicopinionintheirfavour.Whichofthefollowingbestdescribesthesituation?A.GrassrootslobbyingB.AgencyC.LobbyistactionsD.Stakeholder[答疑编 ：针对该题提问Thedevelopment ,itsshareholders,employees,potentialcustomers,thelocalcommunityandtheactiongroupareallstakeholdersintheproject.Theirdifferentneedsarein（certainlythedevelopment andthecommunityactiongroup）.Thereappearstobenobetweenthedirectorsandshareholders,thusnoagencyproblems.Lobbyingwouldbepartoftheactionstakenbyeachofthestakeholdergroupsinsupportoftheir.Chapter3ThebusinessTounderstandelementsoftheexternalenvironmentinwhichorganisationsWhichofthefollowingbestrelatestodataTheideathatindividualshaverightsifanorganisationholdsinformationabout thatrequiresdatasecurity（e.g.passwordsonLawsthatareenactedtopunishhackers,identitythieves,andothercyberSoftwaretohackers（e.g.anti- andfirewallsoftware） Concernsthepotentialdamageandinjurythatcanbecausedtoindividualsbythemisuseoftheir aldata.Whencompletinganapplicationformtopurchasefinancialservicesfromabank,youarerequestedtocheck/tickaboxifyouwishtoreceivedetailsofotherproductssoldbythebankandtheirassociates.WhichprincipleofdataprotectiondoesthisexamplereferDatashouldbeprocessedinaccordancewiththerightsoftheDatashallbeadequate,relevantandnot al[aldatashallnotbekept al[Bycompletingandsigningaformcontaining aldata,authorityisbeinggivenforthatdatatobelawfullyprocessedforthepurposeindicatedontheform.Bycheckingthebox,authorityisbeinggivenforthatdatatobeusedforother（stated）purposesandbyother（stated）entities. soldanoldcomputeratanauctionwithacustomerdatabasestillontheharddrive.Thiscomputerdidnothaveapasswordoranydatabasesecurityfeaturesenabled. hasviolatedprinciplesDataprotectionDatasecurityDataprotectionanddataDatasafety,datasecurityanddataprotection Dataprotectionhasbeenbreachedasthedatamaybeusedforunauthorisedpurposes.Datasecurityconcernsprotectingtheintegrityofthedata–thishasbeenbreachedasthedatawasnotdeletedbeforethecomputerwassoldnorwasitencrypteD.Jobdescriptions,disciplinepoliciesandinstructionsontheuseofequipmentarealltoolsthatmanagementcanusetopromotehealthandsafetyintheworkce.IsthisstatementTrueor[答疑编 ：针对该题提问True.Aformalhealthandsafety/manual;jobdescriptions;designofworksystems;regulartrainingandinstructionofemployees;communicationtoemployees（e.g.noticeboards,bulletins,accidentnotes）;disciplinaryprocedures;healthandsafetyofficers;employeecounsellingandmanagementresponsibility（e.g.awareness,attitude,actions）arealltoolstopromotehealthandsafety.Davidwasstandingonhischairtoshoutgoodnewsaboutgaininganewtotherestofhiscolleagues.Hefelloffthechairandbrokehisarm.WhoisresponsiblefortheD.BothDavidand[答疑编 ：针对该题提问Standingonhischairisnotrequiredbyhisjobandhischairisnotdesignedforthisactivity.（Note:Ifhehadbeenencouragedtodosobyhismanager,thenhisemployerswouldbeliable）AccordingtoDemographicTransitionTheory,atwhatstagedodeathratesfallwhilstbirthratesremainStage2:develoStage5:post-industrialStage4:FullydevelopedStage1:Pre-industrial[答疑编 ：针对该题提问Post-industrialcountriesareintheprocessofswitchingtoserviceindustries–birthratestendtofallsignificantly.Fullydevelopedcountrieshavelowbirthratesandlowdeathrates.Pre-industrialcountrieshavehighbirthratesandhighdeathrates,thusthepopulationisgenerallystatiC.Whentheworkisaging,whichstatementisThecostofthatworkwillbeThecostofthatworkwillremainThecostofthatworkwillbeTheadditionalcostsofthatworkwillbecoveredbythe Inanygivenjob,employeeswhohavebeenngthatjobforalongperiodoftimetendtobepaidatahigherratethatemployeesjuststartingthesamejoB.Thisusuallyreflectshigherskilllevels,experience,customerorientationandloyalty.Whichofthefollowingbestdescribestheterm“carbonTheimpactanorganisation’suseofsustainablepowerhasontheAmeasureoftheemissionofgreenhousegasesbyorganisationsorTheeffectonthereservesofoilandgasfrommanufacturing,transportationandpowergenerationD.Prehistoricfootprintsfromextinct,largelandanimalscapturedincarbon-basedfossils[答疑编 ：针对该题提问Therearevariousdefinitions,onebeing“ThetotalsetofGHG（greenhousegas）emissionscauseddirectlyandindirectlybyanindividual,organisation,eventorproduct”.Allareofasimilarthemebasedaroundtheemissionsofgreenhousegases.Environmental,ecologicalandsocialfootprintsaresimilarmeasures.Seerg.uktocalculatea alfootprint.Theinformationsystems（IS）strategyshoulddrivethebusinessstrategyasISisoftenthemostexpensivefunctioninabusiness.IsthisstatementTrueorFalse?[答疑编 ：针对该题提问False.Theoverallstrategythatdrivesabusinessisthebusinessstrategy.Allotherfunctionsareusedtoensurethesuccessofthatstrategy.ThusISstrategymustbegearedtoensureachievementofthebusinessstrategy.Alogistics hasdevelopedauniqueextranetwebsiteforitscustomers-theycanchoosethemethodofdeliverytomatchtheircarbonfootprint,seeexactlywheretheirshipmentsareatanytimeonamapoftheworldandtherouteitistaking.Whatisthepotentialcompetitiveadvantage?B.Costleadership[答疑编 ：针对该题提问“Unique”meansdistinguishingitselffromitscompetition–WhichofthefollowingisadisadvantageofoutsourcingA.AkeyresourcewillbedealtwithbyanexternalproviderB.EnablesmanagementtoconcentrateresourcesonkeyactivitiesC.RiskmanagementandnningismoreassuredD.Costeffectiveforsmaller[答疑编 ：针对该题提问B,CandDarealladvantagesofMichaelPorter’s5 smodelisusedtodeterminetheprofitpotentialofanindividualbusiness.IsthisstatementTrueorFalse?[答疑编 ：针对该题提问False.ThemodelrelatestoanindustryandamarketasaThenumberand tyofnewentrantsinanindustrydependsonwhichoneofthefollowing?A.Switchingcostsof B.TheprofitpotentialoftheC.BarrierstoD.Thethreatofsubstitute[答疑编 ：针对该题提问yersalreadyinthemarketwillattempttomakeitmoredifficultfornewentrantstoentertheirmarket.Barrierstoentryincludehighcapitalcosts,economiesofscale,productdifferentiation,limitondistributionchannels,regulations,randcustomerForsupermarkets, becauseoftheirrelativesizecomparedtoWhichwords,inorder,bestcompletethisbarrierstoentry,thethreatofsubstituteproducts,thebargainingpowerofcustomers,thepowerofbuyers,[答疑编 ：针对该题提问Supermarkets（asanindustry）takeasignificantproportionofars’production.Manyofthe rstoindividualsupermarketchainsarerelativelysmallanddependveryheavilyonthe buyingoftheirproductbythesupermarket.WhichlistincludesPorter’sGenericStrategies?A.Differentiationfocus,pricefocus,costfocusB.Costleadership,costfocus,priceC.Marketleadership,marketingfocus,D.Costleadership,differentiation,nichefocus Developedfromthefivesmodel–costleadership,differentiationand（orChapter4Themacro-economicTounderstandtheeconomicenvironmentwithinwhichorganisationsoperateandhow ernmentsmaymanipulatethatenvironment.Whatdoesthestudyofmacro-economicsconcern?A.IndividualfirmsB.LargeC.TheD.Privatesector[答疑编 ：针对该题提问Macroeconomicsisthefieldofeconomicsthatstudiesthebehaviouroftheaggregateeconomythroughconsideringeconomy-wideelements（e.g.changesin（un）employment,national e,rateofgrowth,grossdomesticproduct,inflationandpricelevels）.Whichofthefollowingisalistofmacro-economicFullemployment,economicgrowth,priceBalanceofpayments,interestrates,fullpricestability,exchangerates,balanceofpaymentsC.interestrates,limitedinflation,fullemployment[答疑编 ：针对该题提问Aobjectiveistheacceptablebalancebetweenexportsandimportsatanygiventime.Theotherchoicescontainthetoolsrequiredtoachieveobjectives（erestrates,exchangeGrossDomesticProduct（GDP）iscalculatedas Whichwordscorrectlycompletethissentence?A.Consumption,investment, ernmentspending,netexportsB.Consumption,savings,investment, ernmentspendingC.Consumption,investment,taxation,netexportsD.Consumption,savings,taxation,netexports[答疑编 ：针对该题提问GDPisthetotalmarketvalueofallfinalgoodsandservicesproducedinthecountryinagivenperiodoftime（usuallyacalendaryear）.Rememberthatthebalanceofpaymentsrepresentsthedifferencebetweenimportsandexports.“TheParadoxofThrift（节约）”correctlyreferstowhichoftheIftaxratesincreasethenconsumptionwithIfconsumptionincreasesthensavingswillIftaxratesincreasethensavingswillIfsavingsincreasesthenconsumptionwilldecrease Withagivenamountof e,aspeoplesavemore,theywillnaturallyhavelesstospend.Thiswillmeanlessdemandforgoodsandservices,thusbusinessactivitywilldecline.Thereforethe“paradoxofthrift”.Whatwastheinitialimpactofthesubprimecrunchof2007/08?[答疑编 ：针对该题提问Thebankingcrisisthatflowedthroughfromthesubprimecrisisinitiatedbecausebanksstoppedlendingtoeachotherinfearthatanyloanswouldnotberepaid.Thisresultedinahalttoinstitutionalandprivatelending.Ordersaredeclining,inventorylevelsandpricesarefallingwithredundanciesincreasing.Whatstageofthebusinesstradecycleisdescribedabove?[答疑编 ：针对该题提问Theclassicsignsofrecession.UsuallyofficialwhenGDPisnegativefortwoormoreconsecutivequarters.CarlosworksincommercialfishinginSpain.He,andmanylikehim,isunemployedduetogreatlyreducedcatchnumbersandstricternmentregulations.Whichtypeofunemploymentbestdescribesthis[答疑编 ：针对该题提问Astherehasbeenachangeinthe“structure”oftheindustry（i.e.lowerfishstocksandreducedcatchquotas）unemploymentisreferredtoasstructuralunemployment.Realwageiswhereworkersrequirewageratesremainhigh,despitetherebeingavailableworkers.Seasonalunemploymentchangeswiththeseasons（e.g.weather,fruitpicking,building）.Frictionalarisesduetoinefficientcommunicationtotheavailableworkersaboutthejob.Whichofthefollowingarekeyelementsoffiscal?A.Taxation,interestrateadjustmentsB.ernmentspending,C.Demand-sidepolicies,adjustingthemoney ernmentexpenditure,centralbank Actionbythe ernmenttoachieveeconomicobjectivesthroughtheuseofthefiscalinstrumentsoftaxation,publicspendingandthebudgetdeficitorsurplus.Interestrates,moneysupplyandcentralbankareelementsofmonetary.Whichofthefollowingbestdescribesa“supply-side”approachtoeconomicrecovery?A.Lowtaxrates,limited ernmentspending,de-regulation ernmentspending,lowtaxrates,supportofdepressedindustriesC.Increaseinpublicworksprojects,temporarybudgetdeficits,lowtaxratesD.Increasedregulation,supportofdepressedindustries,increaseinpublicworksprojects Focusoncreatingtherightconditionsinwhichprivateenterprisecanflourishandtherebyraisethecapacityoftheeconomytoprovidetheoutputdemanded.Theprivatesector,beingdrivenbytheprofitmotive,isdeemedtobemoreefficientatprovidingtheoutputrequiredthanthepublicsector.Theotherscontainelementsofmanagingthedemandforgoodsandservices.Chapter5Themicro-economicTounderstandthemicro-economicfactorsrelatingtosupplyandWhichofthestatementsaboutpriceelasticityareItisdefinedasthe%changeinpricedividedbythe%changeinAnitemwhichhasanelasticitygreaterthanoneispriceAnitemwhichhasanelasticityoflessthanoneissaidtobeIfdemandforanitemisinelasticanditspricefalls,totalrevenuewillandB.2andA.1andD.3and[答疑编 ：针对该题提问Only3and4areWhichofthefollowingcommoditieshasa eelasticityof1.Acommoditythathas2.AcommoditythathasnoAcommodityonwhichahighfraction eisAcommoditywhichisA.1B.3andD.2and[答疑编 ：针对该题提问Whereacheapersubstituteisreadilyavailable,ifthepriceofacommodityincreasesthenbuyerswillswitchtothesubstitute,reducingthedemandforthecommodity.Highfractionof eindicatesluxurycommodities.As increasessodemandwillproportionayincreasegreaterthantheincreasein Ifthepriceoftheluxurycommodityincreases,and eremainsstatic,itsdemandwilldrop.Essentialshavelowelasticity（0to+1）.Buyerswillstrivetoobtainthecommodityasitisperceivedtheycannotsurvivewithoutit.Whichofthefollowingismicro-economicsNOTconcernedwith?[答疑编 ：针对该题提问A,BandDrelatetothedefinitio