米什金货币金融学英文版习题答案chapter6英文习题.docx

米什金货币金融学英文版习题答案chapter6英文习题

EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)Chapter6TheRiskandTermStructureofInterestRates

6.1RiskStructureofInterestRates

1)Theriskstructureofinterestratesis

A)thestructureofhowinterestratesmoveovertime.

B)therelationshipamonginterestratesofdifferentbondswiththesamematurity.

C)therelationshipamongthetermtomaturityofdifferentbonds.

D)therelationshipamonginterestratesonbondswithdifferentmaturities.

Answer:B

AACSB:ReflectiveThinking

2)Theriskthatinterestpaymentswillnotbemade,orthatthefacevalueofabondisnotrepaidwhenabondmaturesis

A)interestraterisk.

B)inflationrisk.

C)liquidityrisk.

D)defaultrisk.

Answer:D

AACSB:ApplicationofKnowledge

3)Bondswithnodefaultriskarecalled

A)flowerbonds.

B)no-riskbonds.

C)default-freebonds.

D)zero-riskbonds.

Answer:C

AACSB:ApplicationofKnowledge

4)Whichofthefollowingbondsareconsideredtobedefault-riskfree?

A)municipalbonds

B)investment-gradebonds

C)U.S.Treasurybonds

D)junkbonds

Answer:C

AACSB:AnalyticalThinking

5)U.S.governmentbondshavenodefaultriskbecause

A)theyareissuedinstrictlylimitedquantities.

B)thefederalgovernmentcanincreasetaxesorprintmoneytopayitsobligations.

C)theyarebackedwithgoldreserves.

D)theycanbeexchangedforsilveratanytime.

Answer:B

AACSB:ReflectiveThinking

6)Thespreadbetweentheinterestratesonbondswithdefaultriskanddefault-freebondsiscalledthe

A)riskpremium.

B)junkmargin.

C)bondmargin.

D)defaultpremium.

Answer:A

AACSB:ApplicationofKnowledge

7)Iftheprobabilityofabonddefaultincreasesbecausecorporationsbegintosufferlargelosses,thenthedefaultriskoncorporatebondswill________andtheexpectedreturnonthesebondswill________,everythingelseheldconstant.

A)decrease;increase

B)decrease;decrease

C)increase;increase

D)