[单项选择]The earnings multiplier model, derived from the dividend discount model, expresses a stock's P/E ratio (P₀/E₁) as the:
A. expected dividend in one year divided by the difference between the required return on equity and the expected dividend growth rate.
B. expected dividend payout ratio divided by the sum of the expected dividend growth rate and the required return on equity.
C. expected dividend payout ratio divided by the difference between the required return on equity and the expected dividend growth rate.

[单项选择]According to the earnings multiplier model, all else equal, as the required rate of return on a stock increases, the:

[单项选择]Estimate an earnings multiplier for ABC Company, assuming a dividend payout ratio of 50%, a required return of 12% , and a growth rate of 7%.（）
A. 10.00.
B. 12.00. 15.57.

[单项选择]The correlation derived from a historical analysis of bond market returns in the U.S. and in Canada is 0.72. Which of the following statements is true（）
A. When the U. S. market has a below average performance, the Canadian market is likely to have a below average performance.
B. When the U. S. market rises 1%, the Canadian market rises 0.72%.
C. When the U. S. market rises, the Canadian market is more likely to decrease than increase.

[单项选择]His pleasant personality is derived from his good humor and understanding.（）
A. 由于他性情好又富于同情心，所以他招人喜爱。
B. 他性格好，这是因为他心情好并且通情达理的缘故。
C. 他良好的个性源自于他良好的性情和理解力。
D. 他心情愉快，通情达理，所以性格开朗。

[单项选择]

The world religion is derived from the Latin noun religion, which denotes both (1) observance of ritual obligations and an inward spirit of reverence. In modern usage, religion covers a wide spectrum of (2) that reflects the enormous variety of ways the term can be (3) At one extreme, many committed believers (4) only their own tradition as a religion, understanding expressions such as worship and prayer to refer (5) to the practices of their tradition. They may (6) use vague or idealizing terms in defining religion, (7) , true love of God, or the path of enlightenment. At the other extreme, religion may be equated with (8) , fanaticism, or wishful thinking.
By defining religion as a sacred engagement with what is taken to be a spiritual reality, it is possible to consider the importance of religion in human life without making (9) about what is really is or ought to be. Religion is not an object with a single
A. in a sense
B. as a result
C. for example
D. for all