为何学习金融市场与机构(英文习题及答案

1、Cha pter 1 Why Study Financial Markets and In stitutio ns?1.1Si ngle Choice1) Finan cial markets and in stitutio nsA) i nvolve the moveme nt of huge qua ntities of mon ey.B) affect the p rofits of bus in esses.C) affect the types of goods and services p roduced in an economy.D) do all of the above.E

2、) do only A and B of the above.2) Finan cial market activities affectA) personal wealth.B) spending decisi ons by in dividuals and bus in ess firms.C) the econom ys locatio n in the bus in ess cycle.D) all of the above.3) Markets in which funds are tran sferred from those who have excess funds avail

3、able to those who have a shortage of available funds are calledA) commodity markets.B) funds markets.C) derivative excha nge markets.D) finan cial markets.4) The p rice p aid for the ren tal of borrowed funds (usually exp ressed as a p erce ntage of the rental of $100 per year) is com monly referred

4、 to as theA) in flati on rate.B) excha nge rate.C) in terest rate.D) aggregate price level.5) The bond markets are imp orta nt becauseA) they are easily the most widely followed finan cial markets in the Un ited States.B) they are the markets where in terest rates are determ in ed.C) they are the ma

5、rkets where foreig n excha nge rates are determ in ed.D) all of the above.the6) In terest rates are imp orta nt to finan cial in stituti ons since an in terest rate in crease _cost of acquiri ng funds andthe in come from assets.A) decreases; decreasesB) in creases; in creasesC) decreases; in creases

6、D) in creases; decreases7) Typ ically, in creas ing in terest ratesA) discourages in dividuals from savi ng.B) discourages corpo rate in vestme nts.C) en courages corpo rate expansion.D) en courages corpo rate borrowing.E) none of the above.8) Comp ared to in terest rates on Ion g-term U.S. gover nm

7、ent bon ds, in terest rates on fluctuate more and are lower on average.A) medium-quality corpo rate bondsB) low-quality corpo rate bondsC) high-quality corpo rate bondsD) three-m onth Treasury billsE) none of the above9) Comp ared to in terest rates on Ion g-term U.S. gover nment bon ds, in terest r

8、ates on three-m onthon average.Treasury bills fluctuateand areA) more; lowerB) less; lowerC) more; higherD) less; higher10) The stock market is important becauseA) it is where in terest rates are determ in ed.B) it is the most widely followed finan cial market in the Un ited States.C) it is where fo

9、reig n excha nge rates are determ in ed.D) all of the above.11) Stock p rices since the 1950s have bee nA) relatively stable, trending up ward at a steady p ace.B) relatively stable, trending dow nward at a moderate rate.C) extremely volatile.D) un stable, trending dow nward at a moderate rate.12) T

10、he largest on e-day drop in the history of the America n stock markets occurred inA) 1929.B) 1987.C) 2000.D) 2001.13) A rising stock market in dex due to higher share p ricesA) in creases peopi es wealth and as a result may in crease their willi ngn ess to spend.B) in creases the amount of funds tha

11、t bus in ess firms can raise by sell ing n ewly issued stock.C) decreases the amount of funds that bus in ess firms can raise by sell ing n ewly issued stock.D) both A and B of the above.14) A decli ning stock market in dex due to lower share p ricesA) reduces peopi es wealth and as a result may red

12、uce their willi ngn ess to spend.B) in creases peopi es wealth and as a result may in crease their willi ngn ess to spend.C) decreases the amount of funds that bus in ess firms can raise by sell ing n ewly issued stock.D) both A and C of the above.E) both B and C of the above.15) Chan ges in stock p

13、 ricesA) affect peopi es wealth and their willi ngn ess to spend.B) affect firms decisi ons to sell stock to finance in vestme nt spending.C) are characterized by con siderable fluctuati ons.D) all of the above.E) only A and B of the above.16) (I) Debt markets are ofte n referred to gen erically as

14、the bond market. (II) A bond is a security that is a claim on the earnings and assets of a corpo rati on.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.17) (I) A bond is a debt security that promises to make payments periodically for a specified p eriod of t

15、ime. (II) A stock is a security that is a claim on the earnings and assets of a corpo rati on.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.18) The price of one coun trys curre ncy in terms of ano thers is calledA) the excha nge rate.B) the in terest rate.C

16、) the Dow Jones in dustrial average.D) none of the above.19) A stron ger dollar ben efitsand hurtsA) America n bus in esses; America n con sumers.B) America n bus in esses; foreig n bus in esses.C) America n con sumers; America n bus in esses.D) foreig n bus in esses; America n con sumers.20) A weak

17、er dollar ben efitsand hurts _A) America n bus in esses; America n con sumers.B) America n bus in esses; foreig n con sumers.C) America n con sumers; America n bus in esses.D) foreig n bus in esses; America n con sumers.in value, thereby benefiting American21) From 1980 to early 1985 the dollarA) ap

18、p reciated; bus in esses.B) app reciated; con sumers.C) dep reciated; bus in esses.D) dep reciated; con sumers.22) Money is defi ned asA) anything that is gen erally acce pted in p ayme nt for goods and services or in the rep ayme nt of debt.B) bills of excha nge.C) a riskless rep ository of spendin

19、g po wer.D) all of the above.E) only A and B of the above.23) The orga ni zatio n respon sible for the con duct of mon etary p olicy in the Un ited States is theA) Comp troller of the Currency.B) U.S. Treasury.C) Federal Reserve System.D) Bureau of Mon etary Affairs.24) The central ba nk of the Un i

20、ted States isA) Citicorp.B) The Fed.C) Ba nk of America.D) The Treasury.E) none of the above.25) Mon etary p olicy is chiefly concerned withA) how much money bus in esses earn.B) the level of in terest rates and the n atio ns money supply.C) how much money people pay in taxes.D) whether people have

21、saved eno ugh money for retireme nt.26) Econo mists group commercial ban ks, savi ngs and loa n associati ons, credit unions, mutual fun ds, mutual savi ngs ban ks, in sura nee compani es, pension fun ds, and finance companies together un der the head ing finan cial in termediaries. Finan cial in te

22、rmediariesA) act as middlemen, borrowing funds from those who have saved and lending these funds to others.B) p roduce nothing of value and are therefore a drain on societys resources.C) help p romote a more efficie nt and dyn amic economy.D) do all of the above.E) do only A and C of the above.27) E

23、cono mists group commercial ban ks, savi ngs and loa n associati ons, credit unions, mutual fun ds, mutual savi ngs ban ks, in sura nee compani es, pension fun ds, and finance companies together un der the head ing finan cial in termediaries. Finan cial in termediariesA) act as middlemen, borrowing

24、funds from those who have saved and lending these funds to others.B) play an imp orta nt role in determ ining the qua ntity of money in the economy.C) help p romote a more efficie nt and dyn amic economy.D) do all of the above.E) do only A and C of the above.28) Banks are imp orta nt to the study of

25、 money and the economy because theyA) p rovide a cha nnel for linking those who want to save with those who want to in vest.B) have bee n a source of rapid finan cial inno vati on that is expanding the alter natives available to those wanting to in vest their mon ey.C) are the only financial institu

26、tion to play a role in determining the quantity of money in the economy.D) do all of the above.E) do only A and B of the above.29) Ban ks, savi ngs and loa n associati ons, mutual savi ngs ban ks, and credit unionsA) are no Ion ger imp orta nt p layers in finan cial in termediatio n.B) have bee n p

27、rovid ing services only to small depo sitors since deregulati on.C) have bee n ade pt at inno vat ing in response to cha nges in the regulatory environment.D) all of the above.E) only A and C of the above.30) (I) Banks are financial intermediaries that accept deposits and make loans. (II) The termba

28、 nks in cludes firms such as commercial ban ks, savi ngs and loa n associati ons, mutual savi ngs ban ks, credit unions, in sura nee compani es, and pension fun ds. A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.31) was the stock markets worst on e-day drop in history in the 1980s.A) Black FridayB) Black Mo ndayC) Blackou