米什金货币金融学英文版习题答案chapter2英文习题.docx

米什金货币金融学英文版习题答案chapter2英文习题

EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)Chapter2AnOverviewoftheFinancialSystem

2.1FunctionofFinancialMarkets

1)Everyfinancialmarkethasthefollowingcharacteristic.

A)Itdeterminesthelevelofinterestrates.

B)Itallowscommonstocktobetraded.

C)Itallowsloanstobemade.

D)Itchannelsfundsfromlenders-saverstoborrowers-spenders.

Answer:D

AACSB:ReflectiveThinking

2)Financialmarketshavethebasicfunctionof

A)gettingpeoplewithfundstolendtogetherwithpeoplewhowanttoborrowfunds.

B)assuringthattheswingsinthebusinesscyclearelesspronounced.

C)assuringthatgovernmentsneedneverresorttoprintingmoney.

D)providingarisk-freerepositoryofspendingpower.

Answer:A

AACSB:ReflectiveThinking

3)Financialmarketsimproveeconomicwelfarebecause

A)theychannelfundsfrominvestorstosavers.

B)theyallowconsumerstotimetheirpurchasebetter.

C)theyweedoutinefficientfirms.

D)theyeliminatetheneedforindirectfinance.

Answer:B

AACSB:ReflectiveThinking

4)Well-functioningfinancialmarkets

A)causeinflation.

B)eliminatetheneedforindirectfinance.

C)causefinancialcrises.

D)allowtheeconomytooperatemoreefficiently.

Answer:D

AACSB:ReflectiveThinking

5)Abreakdownoffinancialmarketscanresultin

A)financialstability.

B)rapideconomicgrowth.

C)politicalinstability.

D)stableprices.

Answer:C

AACSB:ReflectiveThinking

6)Theprincipallender-saversare

A)governments.

B)businesses.

C)households.

D)foreigners.

Answer:C

AACSB:ApplicationofKnowledge

7)Whichofthefollowingcanbedescribedasdirectfinance?

A)Youtakeoutamortgagefromyourlocalbank.

B)Youborrow$2500fromafriend.

C)Youbuysharesofcommonstockinthesecondarymarket.

D)Youbuysharesinamutualfund.

Answer:B

AACSB:AnalyticalThinking

8)Assumethatyouborrow$2000at10%annualinteresttofinanceanewbusines