货币银行学题目自选复习

CH1 Why Study Mo ney. Banking, and Financial Markets?

1. 为什么金融市场对于经济的健康运行至关重要？

They channel funds from people who do not have a productive use for them to people who do, thereby result ing in higher econo mic efficie ncy.

2. 外汇汇率的变化会对金融机构的盈利产生怎样的影响？

Changes in foreign exchange rates change the value of assets held by financial institutions and thus lead to gains and losses on these assets. Also cha nges in foreig n excha nge rates affect the profits made by traders in foreign exchange who work for financial institutions.

3. 当美元相对于其他国家的货币的价值上升时，你更愿意买美国产的还是外国产的裤子？美国生

产裤子的企业更愿意看到美元走强还是走弱？美国进口裤子的贸易公司会受到美元汇率怎样的影响？

foreig n goods become less expe nsive relative to America n goods; you are more likely to buy Fren ch-made jea ns. The result ing drop in dema nd for America n-made jea ns because of the strong dollar hurts America n jea ns manu facturers. On the other hand, the America n compa ny that imports jea ns into US now finds that the dema nd for its product has rise n, so it is better off when the dollar is strong.

4. 国外投资者持有的美国债务主要是政府债券和国库券，美元汇率的变动会如何影响外国投资者

所持有的美元债务的价值？

As the dollar becomes stron ger relative to a foreig n curre ncy, one dollar is equivale nt to more foreig n curre ncy. A stron ger dollar will yield more home curre ncy to foreig ners, so the asset will be worth more to foreign investors. Likewise, a weak dollar will lead to foreig n bond holdi ngs worth less to foreig ners.

5. 当利率上升时，每个人的情况都会变坏吗？

No. It is true that people who borrow to purchase a house or a car are worse off because it costs them more to finance their purchase; however, savers ben efit because they can earn higher in terest rates on their sav in gs.

CH2 What is money ？

1. 为什么通货不是恰当的货币计量指标？

If curre ncy can be used as mon ey, a lot of other assets have liquidity properties that are

similar to currency, not counting them would understate an e conomy' s access liquidity for tran sacti ons purposes. For this reas on, coun ti ng assets such as check ing deposits or

savings accounts more accurately reflects the stock of assets that can be considered mon ey.

2. 如果你使用诸如Paypal之类的在线支付体系在网上购买产品和服务，会影响到M1

货币供给量还是M2货币供给量，抑或两类货币供给量都会或者都不会被影响？

Neither. PayPal and many other e-money systems do not count in the M1 or M2. Because PayPal and similar payme nt systems are gen erally credit-based, this requires payme nt at a future date for funds used today; those future payments must be made using existing money that is already in the system, such as curre ncy or funds in a bank deposit acco unt. In other words, the M1 and M2 money supplies would theoretically remain the same, but money would move from your checking account to a third party, once the credit tra nsact ion is settled.

CH9 banking and the management of financial institution

1. If the preside nt of a bank told you that the bank was so well run that it has n ever had to