金融场学双语题库及答案米什金金融场与机构

Financial Markets and Institutions^ 8e (Mishkin)
Chapter 1 Why Study Financial Markets and Institutions?
1.1Multiple Choice
1)Financial maikets and institutions
A)involve the movement of huge quantities of money.
B)affect the profits of businesses.
C)affect the types of goods and sendees produced in an economy.
D)do all of the above.
E)do only A and B of the above.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
2)Financial maiket activities affect
A)peisonal wealth.
B)spendmg decisions by individuals and busuiess films.
C)the econom^s location in the business cycle.
D)all of the above.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
3)Maikets m which hinds are transfened fiom those who have excess fiinds available to those who have a shortage of available fluids are called
A)conunodity maikets.
B)fluids maikets.
C)derivative exchange maikets.
D)financial maikets.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
4)The price paid fbr the rental of bonowed fluids (usually expressed as a percentage of the rental of $100 per year) is conunoiily lefened to as the
A)inflation rate.
B)exchange rate.
C)interest rate.
D)aggregate price level.
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
5)The bond maikets are impoitant because
A)they are easily the most widely followed financial maikets m the Umted States.
B)they are the maikets where mteiest rates are detemiined.
C)they are the maikets where foreign exchange rates are detemimed.
D)all of the above.
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
6)hiterest rates are impoilant to financial institutions since an interest rate mcrease the cost of acquumg fiinds and the income from assets.
A)decreases; decreases
B)mcieases; increases
C)decreases; incieases
D)increases; decreases
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
7)Typically, increasing mteiest rates
A)discourages individuals fiom saving.
B)discourages coiporate mvestments.
C)encourages corporate expansion.
D)encourages corporate bonowing.
E)none of the above.
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
8)Compaied to mteiest rates on long-term U.S. govenmient bonds, interest rates on fluctuate more and are lower on average.
A)medium-quality coiporate bonds
B)low-quality coiporate bonds
C)lugh-quality coiporate bonds
D)tluee-montli Treasuiy bills
E)none of the above
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
9)Compaied to mterest rates on long-term U.S. govenmient bonds, interest rates on tluee-month Treasury bills fluctuate and are on average.
A)more; lower
B)less; lower
C)more; lugher
D)less; higher
Answer: A
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
10)The stock maiket is important because
A)it is where interest rates are determined.
B)it is the most widely followed financial maiket in the United States.
C)it is where foreign exchange rates are deteimined.
D)all of the above.
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
11)Stock prices smce the 1980s have been
A)relatively stable, trending upward at a steady pace.
B)relatively stable, tiending downward at a moderate rate.
C)extiemely volatile.
D)unstable, trendmg downwaid at a moderate rate.
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
12)The largest one-day drop m the histoiy of the Aineiican stock markets occuned in A) 1929.
B)1987.
C)2000.
D)2001.
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
13) A declining stock market index due to lower share prices
A)reduces people's wealth and as a result may reduce then willingness to spend.
B)mcieases people's wealth and as a result may increase their willmgness to spend.
C)decreases the amount of hinds that business films can raise by sellmg newly issued stock.
D)both A and C of the above.
E)both B and C of the above.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
14)Changes m stock prices
A)affect people's wealth and their willmgness to spend.
B)affect films' decisions to sell stock to finance investment spending.
C)are chaiacteiized by considerable fluctuations.
D)all of the above.
E)only A and B of the above.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
15)(I) Debt maikets are often refened to genencally as the bond maiket.
(II) A bond is a security that is a claim on the earnings and assets of a corporation.
A)(I) is tine, (II) false.
B)(I) is false, (II) tine.
C)Both are tme.
D)Both are false.
Answer: A
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
16) (I) A bond is a debt secunty that pionuses to make payments peiiodically for a specified penod of tune. (II) A stock is a secunty that is a claim on the eanimgs and assets of a coipoiation.
A)(I) is true, (II) false.
B)(I) is false, (II) tine.
C)Both are tme.
D)Both are false.
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
17)The piice of one country's cunency in terms of anothei J s is called
A)the foreign exchange rate.
B)the interest rate.
C)the Dow Jones mdustrial average.
D)none of the above.
Answer: A
Topic: Chapter 1.1 Why Study Fmancial Maikets
Question Status: Previous Edition
18) A stronger dollar benefits and hints.
A)Aineiican busuiesses; Aineiican consumeis
B)Aineiican busmesses; foreign businesses
C)Aineiican consumeis; Aineiican busmesses
D)foreign businesses; Ameiican consumeis
Answer: C
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
19) A weaker dollar benefits and hurts.
A)Aineiican busmesses; Aineiican consumeis
B)Aineiican busmesses; foieign consumers
C)Aineiican consumeis; Aineiican busmesses
D)foreign businesses; Ameiican consumers
Answer: A
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
20)From 1980 to early 1985 the dollar in value, thereby benefiting
Ainencan.
A)appreciated; businesses
B)appreciated; consumers
C)depreciated; businesses
D)depreciated; consumers
Answer: B
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
21)hi generaL fiom 2001 tluough 2013, the dollar m value relative to
major foreign cuuencies.
A)appreciated
B)depreciated
C)lemained about the same
Answer: B
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: New Question
22)Money is defined as
A)anythmg that is geneially accepted in payment fbr goods and sendees or in the repayment of debt.
B)bills of exchange.
C) a nskless repositoiy of spending power.
D)all of the above.
E)only A and B of the above.
Answer: A
Topic: Chaptei 1.2 Why Study Financial Institutions
Question Status: Previous Edition
23)The organization responsible fbf the conduct of monetaiy policy in the United States is the
A)Comptioller of the Currency.
B)U.S. Treasuiy.
C)Federal Reserve System.
D)Bureau of Monetaiy Affaus.
Answer: C
Topic: Chaptei 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
24)The central bank of the United States is
A)Citicoip.
B)The Fed.
C)Bank of America.
D)The Tieasuiy.
E)none of the above.
Answer: B
Topic: Chaptei 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
25)Monetaiy policy is cluefly concerned with
A)how much money businesses earn.
B)the level of mterest rates and the nation's money supply.
C)how much money people pay in taxes.
D)whether people have saved enough money for letnement.
Answer: B
Topic: Chaptei 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
26)Econonusts group conuneicial banks, savings and loan associations, credit unions, mutual ftinds, mutual savings banks, msuiance companies, pension fiinds, and finance companies together under the heading financial inteniiedianes. Financial mtermedianes A)act as middlemen, bonowmg ftinds fiom those who have saved and lending these fluids to others.
B)produce nothing of value and are therefore a drain on society's resoui ces.
C)help promote a more efficient and dynamic economy.
D)do all of the above.
E)do only A and C of the above.
Answer: E
Topic: Chaptei 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
27)Econonusts group conuneicial banks, savings and loan associations, credit unions, mutual fiinds, mutual savings banks, msuiance companies, pension fiinds, and finance companies together under the heading financial inteimedianes. Financial mtermedianes
A)act as middlemen, bonowmg fiinds fiom those who have saved and lending these fimds to others.
B)play an important role in detemmuiig the quantity of money m the economy.
C)help promote a more efficient and dynanuc economy.
D)do all of the above.
E)do only A and C of the above.
Answer: D
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
28)Banks are unpoitant to the study of money and the economy because they A) provide a chaimel for Imkrng those who want to save with those who want to mvest.
B)have been a source of financial nmovation that is expandmg the alternatives available to those wanting to mvest then money.
C)are the only financial mstitution to play a role in detemuiHiig the quantity of money in the economy.
D)do all of the above.
E)do only A and B of the above.
Answer: E
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
29)Banks, savings and loan associations, mutual savings banks, and credit unions A) are no longer unportant players in financial intemiediation.
B)have been providing services only to small depositors since deregulation.
C)have been adept at iimovating in response to changes in the regulatoiy envuomnent.
D)all of the above.
E)only A and C of the above.
Answer: C
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
30)(I) Banks are financial intennediaiies that accept deposits and make loans.
(II) The tenn n baiiks n includes films such as commercial banks, savmgs and loan associations, mutual savings banks, credit unions, msuiance companies, and pension
fluids.
A)(I) is true, QI) false.
B)(I) is false, (II) tine.
C)Both are tme.
D)Both are false.
Answer: A
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
31)was the stock market^ worst one-day chop in histoiy in the 1980s.
A)Black Friday
B)Black Monday
C)Blackout Day
D)none of the above
Answer: B
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
32)The largest financial intennedianes are
A)insuiance companies.
B)finance compames.
C)banks.
D)all of the above.
Answer: C
Topic: Chapter 1.2 Why Study Financial Institutions
Question Status: Previous Edition
33)hi recent years
A)interest rates have lemained constant.
B)the success of financial institutions has leached levels unpiecedented smce the Great Depiession.
C)stock markets have crashed.
D)all of the above.
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
34) A security
A)is a claun oi puce of propeity that is subject to ownership.
B)piomises that payments will be made penodically fbr a specified penod of time.
C)is the piice paid fbr the usage of ftinds.
D)is a claun on the issuers fiituie mcome.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
35)are an example of a financial institution.
A)Banks
B)hisuiance companies
C)Fmance companies
D)All of the above
Answer: D
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
36)Monetaiy policy affects
A)interest rates.
B)mflation.
C)business cycles.
D)all of the above.
Answer: D
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
37) A using stock market index due to higher share prices
A)increases people's wealth and as a result may increase their willmgness to spend.
B)uicieases the amount of fluids that business firms can raise by selling newly issued stock.
C)decreases the amount of hinds that business films can raise by selling newly issued stock.
D)both A and B of the above.
Answer: D
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
38)From the peak of the high-tech bubble in 2000, the stock market by
ovei by late 2002.
A)collapsed; 75%
B)rose; 35%
C)collapsed; 30%
D)rose; 50%
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
39)The Dow fell below 7,000 m 2009, only to start a bull market run, reaching new highs above m 2013.
A)12,000
B)10,000
C) 15,000
D) 19,000
Answer: C
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: New Question
1.2 Tme/False
1)Money is anything accepted by anyone as payment fbr services or goods.
Answer: TRUE
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
2)hiterest rates are determined in the bond markets.
Answer: TRUE
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
3) A stock is a debt secuiity that promises to make penodic payments fbr a specific period of time.
Answer: FALSE
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
4)Monetaiy policy affects interest rates but has little effect on inflation oi busmess cycles.
J
Answer: FALSE
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
5)The govenunent orgamzation lesponsible for the conduct of monetaiy policy m the United States is the U.S. Treasuiy.
Answer: FALSE
Topic: Chapter 1.2 Why Study Financial Institutions
Question Status: Previous Edition
6)hiterest rates can be accuiately described as the rental price of money.
Answer: TRUE
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
7)Holding eveiytliuig else constant, as the dollar weakens vacations abroad become less attractive.
Answer: TRUE
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
8)In recent years, financial markets have become more stable and less risky. Answer: FALSE
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
9)Financial innovation lias provided more options to both mvestors and bonowers. Answer: TRUE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
10) A financial mtennediaiy borrows fiinds fiom people who have saved.
Answer: TRUE
Topic: Chaptei 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
11)Holding eveiything else constant, as the dollar strengthens fbieigneis will buy more U.S. exports.
Answer: FALSE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
12)In a bull market stock prices are rising, on average.
Answer: TRUE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
13)Financial institutions are among the largest employers m the country and fiequently pay very high salaries.
Answer: TRUE
Topic: Chaptei 1.3 Applied Managerial Perspective
Question Status: Previous Edition
14)Different interest rates have a tendency to move in unison.
Answer: TRUE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
15)Financial markets are what makes financial mstitutions work.
Answer: FALSE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
16)In recent years, financial markets have become more iisky. However, only a linuted number of tools (such as deiivatives) are available to assist in managing this lisk. Answer: FALSE
Topic: Chaptei 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
17)Although the internet has changed many aspects of oui lives, it hasn't proven veiy usefill for collectmg and/oi analyzmg financial and econonuc data.
Answer: FALSE
Topic: Chapter 1.4 How We Study Fmancial Markets and Institutions
Question Status: New Question
1.3 Essay
1)Have inteiest rates been more or less volatile m recent years? Why?
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
2)Why should consumers be concerned with movements in foreign exchange rates?
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
3)How does the value of the dollar affect the competitiveness of Aineiican busmesses? Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
4)What is monetaiy policy and who is responsible fbi its implementation?
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
5)What are financial intennediaiies and what do they do?
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
6)What is money?
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
7)How does a bond differ fiom a stock?
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
8)Why is the stock market so important to individuals, films, and the economy? Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
9)What is the cential bank and what does it do?
Topic: Chapter 1.2 Why Study Fmancial Institutions
Question Status: Previous Edition
10)If you are plaiming a vacation to Europe, do you prefer a strong dollar or weak dollar relative to the euio? Why?
J
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: Previous Edition
11)How has the stock market peifbimed smce 2000?
Topic: Chapter 1.1 Why Study Fmancial Markets
Question Status: New Question。