货币金融全英期末试卷.doc

试卷 1.名词解释： Recession: It is declining aggregate output in a period of business cycle in the economic operations. 2. Interest rate It is the cost of borrowing or the price paid for the rental funds. 3. Money market The money market is a financial market in which only short-run debt instruments are traded. 4. Capital market It is the market in which long-term debt and equity instruments are traded. 5. Default A situation in which the party issuing the debt instrument is unable to make interest payments or pay off the amount owed when the instrument matures. 6. Currency Currency in the real money used in everyday life that including paper money and coins. 7. Liquidity An asset can be converted into a medium of exchange with relative ease, speed and no losses. 8. Leverage ratio Bank capital requirements take two forms, first type is base on the leverage ratio, the amount of capital divided by the bank’s total assets. 9. Disintermediation This loss of deposit from banking system restricted the amount of funds that banks could lend and thus limited bank profits. 10. Multiple deposit creation When the Central Bank supplies the banking system with $1 of additional reserves ,deposits increase by a multiple of this amount, we could call this process as multiple deposit creation. 4. 计算题： A卷： 1．If we know required reserves rate =0.10, C=280 billion, D=800 billion, ER=40 billion, please calculate (1)c, e , m, RR, R and MB; (2) If central bank reduce the required reserve rate of the checkable deposit to 0.08, monetary base, c and e remain constantly, please calculate m, M, D, C, RR and ER. Answer: (1) c=280/800=0.35 e=40/800=0.05 m=1.35/0.5=2.7 RR=r*D=0.1*800=80 b R=RR+ER=120b MB=C+R=280+120=400b 5分 (2)m=1.35/0.48=2.8125 M=400/2.8125=1125b M=C+D=c*D+D=(1+c)*D=1.35D D=1125/1.35=833.33b C=c*D=0.35*833.33=291.67b RR=0.08*833.33=66.67b ER=400-66.67-291.67=41.67b 5分2. A coupon bond m