米什金货币金融学英文版习题答案chapter12英文习题.pdfVIP

⽶什⾦货币⾦融学英⽂版习题答案 chapter12英⽂习题 Economics of Money, Banking, and Financial Markets, 11e, Global Edition (Mishkin) Chapter 12 Financial Crises in Advanced Economies 12.1 What is a Financial Crisis? 1) A major disruption in financial markets characterized by sharp declines in asset prices and firm failures is called a A) financial crisis. B) fiscal imbalance. C) free-rider problem. D) lemons problem. Answer: A AACSB: A lication of Knowledge 2) A financial crisis occurs when an increase in asymmetric information from a disruption in the financial system A) causes severe adverse selection and moral hazard problems that make financial markets incapable of channeling funds efficiently. B) allows for a more efficient use of funds. C) increases economic activity. D) reduces uncertainty in the economy and increases market efficiency. Answer: A AACSB: Reflective Thinking 3) A serious consequence of a financial crisis is A) a contraction in economic activity. B) an increase in asset prices. C) financial engineering. D) financial globalization. Answer: A AACSB: Reflective Thinking 4) ________ are asymmetric information problems that act as a barrier to efficient allocation of capital. A) Asset prices B) Credit imbalances C) Financial frictions D) Financial derivatives Answer: C AACSB: A lication of Knowledge 12.2 Dynamics of Financial Crises 1) Financial crises in advanced economies might start from a A) debt deflation B) currency crisis C) mismanagement of financial innovations D) currency mismatch Answer: C AACSB: Reflective Thinking 2) When financial institutions go on a lending spree and expand their lending at a rapid pace they are participating in a A) credit boom B) credit bust C) deleveraging D) market race Answer: A AACSB: Application of Knowledge 3) When the value of loans begins to drop, the net worth of financial institutions falls causing them to cut back on lending in a process called A) deleveraging B)