货币简答题改良版.docxVIP

2.2 A good medium of exchange must be generally acceptable in trade. In addition, the medium of exchange should have minimal uncertainty over its value in trade and be a good store of value. Finally, it should be divisible so that it can serve as a unit of account.2.2一个好的交换媒介必须在贸易被普遍接受。此外，交换媒介应该在贸易价值最小不确定性和是一个很好的价值储存。最后，它应该是可分的，它可以作为一个计算单位。3.1 Direct finance is the flow of fu２１nds from saver lenders directly to borrower-spenders through financial markets. Indirect finance is the flow of funds from saver lenders to borrower spenders indirectly through financial intermediaries. Primary securities are liabilities issued by borrower spenders (e.g., bonds and stocks). Saver lenders are the source of funds. Borrower spenders are the ultimate users of funds.3.1直接金融是fu21nds流从保护债权人直接向借款人通过金融市场。间接融资是资金从储蓄贷款的借款人间接通过金融中介机构。初级证券是由借款人出具的责任（例如，债券和股票）。储蓄银行资金来源。借款人是资金的最终用户。3.2. The function of financial markets is to serve as a conduit through which all who do not spend all their income (savers) can make those excess funds available to those who want to spend more than their income (borrowers).3.2。金融市场的功能是作为一个渠道，通过它的所有谁不把所有的收入（储户）可以让那些多余的资金提供给那些想花更多的比他们的收入（借款人）。3.4 Reducing transactions and information costs and the ability to (indirectly) hold a broadly diversified portfolio.3.4降低交易成本和信息成本和能力（间接）举行的一个广泛多元化的投资组合。5. What are the similarities and differences in stocks and bonds? 5。相似与股票和债券的区别是什么？Both are securities which are a source of funds for a corporation and a claim to future streams of payment. Stocks are ownership shares with infinite maturity, while bonds are debt with, in most cases, a finite maturity. Bonds make fixed dollar commitments, where the value of stocks are contingent on the issuers’ performance.都是一个公司和索赔支付未来流之资金来源证券。股票是无限的成熟股票的所有权，而债券是债务，在大多数情况下，一个有限的成熟。债券固定美元的承诺，而股票的价值是取决于发行人的性能。6. Describe the similarities and differences in futures and options contracts. 6。描述的相似性和差异在期货和期权合约。Both are derivatives representing a contract between two parties regarding a third asse