091金融学习题(全)北工大.doc

第 1 章 货币与货币制度 1．在一个经济社会中，三个人分别生产三种产品： 商品 成产者 苹果 苹果园主 香蕉 香蕉种植者 巧克力 巧克力制造商 如果苹果园主喜欢香蕉，香蕉种植者喜欢巧克力，而巧克力制造商喜欢苹果，在一个 易货经济中，他们三人之间会发生交易吗？货币的引入会给三个生产者带来什么利益呢？ There are three goods produced in an economy by three individuals: Good Producer Apples Orchard owner Bananas Banana grower Chocolate Chocolatier If the orchard owner likes only bananas, the banana grower likes only chocolate, and the chocolatier likes only apples, will any trade between these three persons take place in a barter economy? How will introducing money into the economy benefit these three producers? 2．将下列资产按照流动性从高到低排列： a：支票账户存款 b：房屋 c：通货 d：洗衣机 e：储蓄存款 f：普通股 Rank the following assets from most liquid to least liquid: a. checking account deposits b. houses c. currency d. washing machines e. savings deposits f. common stock 3．为什么经济学家将恶性通货膨胀期间的货币比喻为在人们手里迅速传递的“烫手的山 芋”？ Why have some economists described money during a hyperinflation as a “hot potato” that is quickly passed from one person to another? 第 2 章 金融体系概览 1．对以下说法作出评论：“因为企业并没有从二级市场实际获取资金，因此二级市场对经济 而言的重要性不如一级市场。” “Because corporations do not actually raise any funds in secondary markets, they are less important to the economy than primary markets.” Comment. 2．股票价格的下降对于企业的投资会产生怎样的影响？ What effect might a fall in stock prices have on business investment? 第 3 章 认识利率 1．如果利率为 10%，一种债券明年向你支付 1100 美元，后年向你支付 1210 美元，第 2 年 支付 1331 美元，这种债券的现值是多少？ If the interest rate is 10%, what is the present value of a security that pays you $1100 next year, $1210 the year after, and $1331 the year after that? 2．如果问题 1 中的债券以 3500 美元售出，其到期收益率是高于还是低于 10%？为什么？ If the security in Problem 1 sold for $3500, is the yield to maturity greater or less than 10%? Why? 3．有两种 1000 美元的债券：一种期限为 20 年，售价为 800 美元，当其收益率为 15%；另 一种期限为 1 年，售价为 800 美元，当其收益率为 5%。哪种债券的到期收益率更高？ Which $1000 bond has the higher yield to maturity, a 20-year bond selling for 800 with a current yield of 15% or a one-year bond selling for $800 with a current yield of 5%? 4．如果利率下降，你更愿意持有长期债券还是短期债券？为什么？哪种债券的利率风险更 大？ 第 4 章 资产需求理论 1