[单项选择]The risk-free rate is 5 percent and the expected return on the market index is 15 percent. A stock has a: Beta of 1.0. Dividend payout ratio of 40%. Return on equity (ROE) on new investments of 15%. If the stock is expected to pay a $ 2.50 dividend, its intrinsic value using dividend discount model is closest to:

[单项选择]An increase in the expected rate of inflation is most likely to cause aggregate demand and short-run aggregate supply to: Aggregate demand Short-run aggregate supply（）①A. Increase Increase ②B. Increase Decrease ③C. Decrease Increase
A. ①
B. ②
C. ③

[单项选择]

Interest Rate Hike Expected This Week
Investors will pace themselves very cautiously this week with all attention focused on the U.S. Federal Reserve for guidance after seeing equity markets retreat last month with concerns over higher interest rates and the economic  (150)  they can cause.
This week, the U.S. central banks will meet, and the interest rates will likely be hiked. This comes  (151)  the Fed has raised them four percentage points over the last two years.
"The market has kind of positioned  (152)  for the Fed raising 25 basis points... because of these fears about inflation," said John Johnston, chief strategist at Royal Securities.

150（）
A. maim
B. malign
C. damage
D. disqualify

[单项选择]An annual population growth rate of 0.57 percent in the last decade, points to the necessity of further maintaining the family- planning policy and keeping the country’s population growth rate at a reasonable level.
The net increase in the population was 130 million from 1990 to 2000, 56 million more than in the 2001～2010 period. So it is clear that family planning has achieved a great deal.
Given its great population, China needs to continue the family-planning policy as its population will continue to grow over the next two decades before it peaks at a predicted 1.5 billion.
The publication of detailed figures from the sixth national census on Thursday shows that the proportion of residents under 14 dropped by 6.29 percentage points in the last 10 years and those aged between 15 and 59 decreased by 1.91 percentage points.
During the same period, the number of people over the age 60 increased by 2.93 percentage points.
The increasingly heavier burden
A. 56 million
B. 57 million
C. 74 million
D. 130 million

[单项选择]For the AMAT, in 1998, the Sales are expected to reachAccording to the talk, in 1997, the Sales of AMAT is
A. 200,000
B. 250,000
C. 600,000