經濟 1995 年 DSE、CE、AL 選擇題（第 5 頁）

41.

Which of the following about money is correct?

42.

Banknotes are a better form of money than demand deposits because the former are more

43.

Arrange the following assets in terms of liquidity in descending order:

(1)ordinary shares

(2)real estate

(3)bank notes

(4)demand deposits

44.

Which of the following are the central-bank functions performed by the Hong Kong Monetary Authority?

(1)supervision of banking activities

(2)financing the budget deficit

(3)maintaining the stability of the exchange rate of the Hong Kong dollar

(4)cheque clearing

45.

Suppose the legal reserve ratio is 100%. If a person deposits $500 cash into his current account,

(1)the currency in circulation will decrease by $500.

(2)the bank deposits will remain unchanged.

(3)the bank loans will increase by $500.

(4)the money supply will remain unchanged.

46.

Mr. Chan withdraws $600 000 from his savings deposit with a commercial bank and then deposits $500 000 with a restricted licence bank. The remaining $100 000 is kept at home. The immediate effect is that

47.

In July 1994, Mr. Chan bought a new house in Shatin and moved in immediately. In this case, the taxes that Mr. Chan has to pay for the financial year 94-95 are:

(1)stamp duty

(2)property tax

(3)rates

48.

Direct taxes differ from indirect taxes in that

49.

Study the following information carefully:

Taxable income ($)	Total tax payment ($)
10 000	1 000
20 000	3 000
30 000	x

If the tax is progressive, x must be larger than

50.

The following diagram shows the tax structure of Tax X:

Tax X is __________ within the income range OY₁, and __________ within the income range Y₁Y₂.