Mishkin-TB-ch02-米什金货币金融学题库

1TheEconomicsofMoney,Banking,andFinancialMarkets,9e(Mishkin)Chapter2AnOverviewoftheFinancialSystem2.1FunctionofFinancialMarkets1)Everyfinancialmarkethasthefollowingcharacteristic:A)Itdeterminesthelevelofinterestrates.B)Itallowscommonstocktobetraded.C)Itallowsloanstobemade.D)Itchannelsfundsfromlenders-saverstoborrowers-spenders.Answer:DQuesStatus:PreviousEdition2)FinancialmarketshavethebasicfunctionofA)gettingpeoplewithfundstolendtogetherwithpeoplewhowanttoborrowfunds.B)assuringthattheswingsinthebusinesscyclearelesspronounced.C)assuringthatgovernmentsneedneverresorttoprintingmoney.D)providingarisk-freerepositoryofspendingpower.Answer:AQuesStatus:PreviousEdition3)FinancialmarketsimproveeconomicwelfarebecauseA)theychannelfundsfrominvestorstosavers.B)theyallowconsumerstotimetheirpurchasebetter.C)theyweedoutinefficientfirms.D)eliminatetheneedforindirectfinance.Answer:BQuesStatus:PreviousEdition4)Well-functioningfinancialmarketsA)causeinflation.B)eliminatetheneedforindirectfinance.C)causefinancialcrises.D)produceanefficientallocationofcapital.Answer:DQuesStatus:PreviousEdition5)AbreakdownoffinancialmarketscanresultinA)financialstability.B)rapideconomicgrowth.C)politicalinstability.D)stableprices.Answer:CQuesStatus:PreviousEdition26)Theprincipallender-saversareA)governments.B)businesses.C)households.D)foreigners.Answer:CQuesStatus:New7)Whichofthefollowingcanbedescribedasdirectfinance?A)Youtakeoutamortgagefromyourlocalbank.B)Youborrow$2500fromafriend.C)Youbuysharesofcommonstockinthesecondarymarket.D)Youbuysharesinamutualfund.Answer:BQuesStatus:PreviousEdition8)Assumethatyouborrow$2000at10%annualinteresttofinanceanewbusinessproject.Forthisloantobeprofitable,theminimumamountthisprojectmustgenerateinannualearningsisA)$400.B)$201.C)$200.D)$199.Answer:BQuesStatus:PreviousEdition9)Youcanborrow$5000tofinanceanewbusinessventure.Thisnewventurewillgenerateannualearningsof$251.ThemaximuminterestratethatyouwouldpayontheborrowedfundsandstillincreaseyourincomeisA)25%.B)12.5%.C)10%.D)5%.Answer:DQuesStatus:PreviousEdition10)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporationissuesnewsharesofstock.B)Peoplebuysharesinamutualfund.C)Apensionfundmanagerbuysashort-termcorporatesecurityinthesecondarymarket.D)Aninsurancecompanybuyssharesofcommonstockintheover-the-countermarkets.Answer:AQuesStatus:PreviousEdition311)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporationtakesoutloansfromabank.B)Peoplebuysharesinamutualfund.C)Acorporationbuysashort-termcorporatesecurityinasecondarymarket.D)Peoplebuysharesofcommonstockintheprimarymarkets.Answer:DQuesStatus:PreviousEdition12)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Youmakealoantoyourneighbor.B)Acorporationbuysashareofcommonstockissuedbyanothercorporationintheprimarymarket.C)YoubuyaU.S.TreasurybillfromtheU.S.Treasury.D)Youmakeadepositatabank.Answer:DQuesStatus:PreviousEdition13)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Youmakealoantoyourneighbor.B)Youbuysharesinamutualfund.C)YoubuyaU.S.TreasurybillfromtheU.S.Treasury.D)Acorporationbuysashort-termsecurityissuedbyanothercorporationintheprimarymarket.Answer:BQuesStatus:PreviousEdition14)Securitiesare________forthepersonwhobuysthem,butare________fortheindividualorfirmthatissuesthem.A)assets;liabilitiesB)liabilities;assetsC)negotiable;nonnegotiableD)nonnegotiable;negotiableAnswer:AQuesStatus:PreviousEdition15)With________finance,borrowersobtainfundsfromlendersbysellingthemsecuritiesinthefinancialmarkets.A)activeB)determinedC)indirectD)directAnswer:DQuesStatus:PreviousEdition416)Withdirectfinancefundsarechanneledthroughthefinancialmarketfromthe________directlytothe________.A)savers,spendersB)spenders,investorsC)borrowers,saversD)investors,saversAnswer:AQuesStatus:PreviousEdition17)Distinguishbetweendirectfinanceandindirectfinance.WhichoftheseisthemostimportantsourceoffundsforcorporationsintheUnitedStates?Answer:Withdirectfinance,fundsflowdirectlyfromthelender/savertotheborrower.Withindirectfinance,fundsflowfromthelender/savertoafinancialintermediarywhothenchannelsthefundstotheborrower/investor.Financialintermediaries(indirectfinance)arethemajorsourceoffundsforcorporationsintheU.S.QuesStatus:PreviousEdition2.2StructureofFinancialMarkets1)Whichofthefollowingstatementsaboutthecharacteristicsofdebtandequityisfalse?A)Theycanbothbelong-termfinancialinstruments.B)Theycanbothbeshort-termfinancialinstruments.C)Theybothinvolveaclaimontheissuer'sincome.D)Theybothenableacorporationtoraisefunds.Answer:BQuesStatus:PreviousEdition2)Whichofthefollowingstatementsaboutthecharacteristicsofdebtandequitiesistrue?A)Theycanbothbelong-termfinancialinstruments.B)Bondholdersareresidualclaimants.C)Theincomefrombondsistypicallymorevariablethanthatfromequities.D)Bondspaydividends.Answer:AQuesStatus:PreviousEdition3)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesistrue?A)Abondisalong-termsecuritythatpromisestomakeperiodicpaymentscalleddividendstothefirm'sresidualclaimants.B)Adebtinstru