1.歸納解析文檔

所有above@botharetrue都選aboveall@true除了

Toencouragedepositoryinstitutionstoborrow,thecentralbankcan（B）

A.increasrtherequoredreseveratio

B.decreasethediscountrate

C.sellsecurities

D.Alloftheabove

1.Theflowofmoneyfromnetlendersorfinancialintermediariestonetborrowersinagiventimeperiodiscalled(A)

A.criedit

2.Increasesincreditcause(B)

B.increasesinincomeandincreasesinspending

3.Decreasesincreditcause(D)

D.decreasesinincomeanddecreasesinspending

5.Totheextentthatlendingbypassesdomesticdepositoryinstitutions,thelinkagebetweenmoneyandeconomicactivitymayby（B）

B.weakened

6.Historicaldatasuggeststhatasustainedandsignificantriseinmoneysupplyorcreditgrowthwilltendto（A）outputgrowthand,withalag,tendattimesto（A）tneinflationrate.

A.raise,raise

7.Thecostofcreditisallofthefollowingexcept（C）

C.equivalenttothesupplyofmoney

8.Fluctuationsineconomicactivityare（A）relatedtomoneyandcreditflows.

A.strongly

9.Whichofthefollowingidtrue?（A）

A.Inrecentdecades,thebankingsystemhasbeengettingadecliningshareofcreditextension

10.Whichofthefollowingactionswouldnotcausecredittoincrease,ceterisparibus?（A）

A.Increasesintheprimerate

2.（C）representsthevaluetodayoffundstobereceivedorlentonafuturedate.

C.Thepresentvalue

3.IfEriklendsDan$5,000andDanagreestorepayErik$6,000in1year'stime,the$5,000isthe（C）

C.principal

4.Whichofthesequestionsdoesdiscountinganswer?（A）

A.Whatisthepresentvalueofmoneytobepaidinthefuture

B.Whatisthefuturevaluevalueofmoneytobepaidinthefuture

C.Whatisthefuturevalueofmoneytobepaidinthepresent

D.Noneoftheabove

5.Theperiodicpaymentsmadetobondholdersiscalledthe（B）

B.couponpayment

6.Couponpaymentsareequaltothe（A）

A.Couponrateonabondmultipliedbythefacevalueofthebond

8.Abondsellsat（D）becauseinterestrateshaveincreasedsincethebondwasoriginallyissued.

D.adiscoyntfrompar

9.Ifabondissoldatadiscountfrompar,this（C）

C.raisestheyieldonthwbond

10.Ingeneral,ifbondpricesarerising,theninterestratesare（B）

B.falling

1.Thenumberofunitsofforeigncurrencythatcanbeacquiredwithoneunitofdomesticmoneyiscalledthe（A）

A.exchangerate

2.Ifthedollarappreciatesrelativetotheyen,whichofthefollowingistrue（A）

A.thedollar'spurchasingpowerintremsofyenhasincreased

B.thedollar'spurchadingpowerintermsofyenhasdecreased

C.adollarpreviouslyworth100yen,wouldnowbeworthlessthan100yen

D.BothBandC

3.Adepreciationofthedollarwill（A）

A.lowertheforeigbcurrencypriceofU.S.goodsinforeignmarkets

B.increasetheforeigncurrencypriceofU.S.goodsinforeignmarkets

C.lowerthedollarpriceofforeigngoodsintheUnitedStates

D.BothBandC

4.Whichofthefollowing,ceterisparibus,willcausetheyentoappreciate?（B）

B.Anincreaseinforeigninflation

5.AnincreaseinrealincomeintheUnitedStateswill（B）

B.increasethesupplyoffollars

6.AchangeinforeigninterestratesrelativetoU.S.interestrateswill（D）

D.increaseordecreasethedemandorsupplyofdollarsintheforeignexchangmarket

7.Achangeinfoeignrealincomeswill（D）

D.increaseordecreasethedemandfordollarsintheforeignexchangemarket

8.Asthedollarappreciates,holdingallotherfactorsconstant,dollarpricesofforeigngoods（A）

A.decrease

9.Whenthedollarappreciates,whichofthefollowinggenerallyoccursinU.S.A.?（C）

C.Importsincrease

10.IfanAmerican-madedrumsetcost$2,500andthedollardepreciated,theforeignpriceofthedrumsetwouldtendto（C）

C.decrease

2.Financialmarketshavethebasicfuntionof（A）

A.bringingtogetherpeoplewithfundstolendandpeoplewhowanttoborrowfunds

B.assuringthattheswingsinthebusinesscyclearelesspronounced

C.assuringthatgovernmentneedneverredorttoprintingmoney

D.BothAandBoftheabove

3.Whichofthefollowingcanbedescribedasinvolvingdirectfinance?（B）

A.Acorporation'sstockistradedinanover-the-countermarket

B.Acorporationbuyscommercialpaperissuedbyanothercorporation

C.Apensionfundmanagerbuyscommercialpaperfromtheissuingcorporation

D.BothAandBoftheabove

4.Themoneymsrketisthemarketinwhivh（C）aretraded.

C.short-termdebtintrument

5.Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldinthe（B）

B.primarymarketbyaninvestmentbank

6.Preferredstockholdersholdaclaimonassetsthathaspriorityovertheclaimsof（C）

C.commonstockholdes,butafterthatofbondholders

9.Theprimaryreasonthatindividualsandfirmschoosetoborrowlong-termistoreducetheriskthatinterestrateswill（A）begoretheypayofftheirdebt.

A.rise

10.Afirmthatchoosestofinanceanewplantbyissuingmoneymarketsecurities（C）

C.incursboththecostofreissuingsecuritiesandtheridkofhavingtopayhigherinterestratesonthenewdebt

1.Whichofthefollowingisacontractualsavinginstitution?（A）

A.Alifeinsurancecompany

2.Whichofthefollowingcanbedescribedadinvolvingindirectfinance?

A.AbankbuysaU.S.Treasurybillfromoneofitsdepositors

B.Acorporationbuyscommercialpaperissuedbyanothercorporation

C.Apensionfundmanagerbuyscommercialpaperinprimarymarket

D.BothAandC

3.Thepurposeofdiversificationisto（B）

B.reducethevolatilityofaportfolio'sreturn

4.Aninvestorwhoputsallherfundsintooneasset（C）herportfolio's（C）.

C.decrease;diversification

5.Throughrisk-sharingactivities,afinancialintermediary（D）itsownriskand（D）therisksofitscustomers.

D.increase;reduces

6.Thepresenceof（C）infinancialmarketleadstoafverseselectionandmoralhazardproblemsthatinterferewiththeefficientfunctioningoffinancialmarkets.

C.asymmetricinformation

7.Successfulfinancialintermediarieshavehigherearningsontheirinvestmentsbecausetheyarebetterequippedthanindividualstoscreenoutgoodfrombadrisks,therebyreducinglossesdueto（B）

B.adverseselection

9.Whenthelenderandtheborrowerhavedifferentamountofinformationregardingatransaction,（B）issaidtoexist.

B.asymmetricinformation

10.Whenthepotentialborrowerswhoarethemostlikelytodefaultaretheonesmostactivelyseekingaloan,（B）issaidtoexist.

B.adverseselection

1.ThePeoole'sBankofchinahasbeendividedinto（D）regionalbranchessince1999.

D.9

2.（B）hastherighttodownfradetherateofperformanceoffinancialorganizations.

B.Centralbank

3.Centralbankhasallthefollowingbusinessesexcept（A）

A.offbalance-sheetactivities

4.WhoistheprimaryregulatorofnationalbanksthatareholdingcompaniesintheUnitedStates?

C.TheFederalReserveSystem

5.Thecentralbankisfrequentlytermedthe“government'sbank”,because（B）

B.itmanagesthegovernmentborrowingbymeansoftheissuesoftreasurybillsandgilt-edgedstocks.（金邊債券）

6.WhichofthefollowingisthecentralbankoftheUnitedStates?（D）

D.TheFederalReserveSystem

7.Whichofthefollowingisthefunctionofissuingbank?（B）

B.Issuingcurrency

8.Whichofthefollowingisnotthefunctionsofcentralbank?（C）

C.Management'sbank

9.Whichofthefollowingistheassetbusinessofacentralbank?（D）

D.Foreignexchangesandgoldreserves

10.Whichofthefollowingisthefundsclearingbusinessofcentralbanks?（A）

A.Moneytransfersbusinesses

1.The(A)suggeststhatindividualwilldwmandtoholdmoneywheninterestratesarelow(bondpriceshigh)toavoidecapitallosseswheninterestratesrise,andtoholdbondswheninterestratesarehigh(bondpriceslow)tocapturecapitalgainswheninterestratesfall.

A.speculativedemandformoney

2.The(B)suggeststhatindividualwilldemandtoholdmoneyinanticipationofunforeseenopportunitiesorthreats.

B.precautionarymotive

3.The(C)suggeststhatindividualswilldemandtoholdmoneyinanticipationoftheneedtomakepayment.

C.transactionmotive

4.The(D)isatheoryofthedemandformoneydevelopedbyJohnMaynardKeynesthatrrsultsinaninverserelationshipbetweenthequantityofmoneydemandedandtheinterestrate.

D.liquiditypreferencetheory

5.Whichofthefollowingmotivesforholdingmoneyisrelatedtotheexampleofholdingextramoneyinyourcheckingaccountjustincaseyourcarneedstoberepaired?(B)

B.Precautionarymotive

6.Realincomeisbestdefinedas(B)

B.nominalincomedividedbyapriceindex

7.Ceterisparibus,whatwouldhappentorealmoneybalancesifallprices,includinginputprices(incomes)andoutputprices,doubledtomorrow?(D)

D.Nominalmoneybalanceswouldremainthesame,theoverallpricelevelwoulddoubleto2p,andrealmoneybalanceswouldfalltoone-halftheirpreviousamount,M/2P

8.Householddemandforrealmoneybalancesincreasewhen(A)

A.wealthincreases

9.Whichofthefollowingisinverselyrelatedtodemandformoney?(C)

C.Theliquidityofotherfinancialassets

10.Ceterisparibus,ifthepricelevelincreasesby20percent,(C)

C.thenominaldemandformoneyincreaseby20percentandthedemandforrealbalancesremainsthesame

1.Howmuchcanthebankingsystemincreasedepoaits,givenareaerveratioof10peecent,aninitialinjectionof$1,000worthofreserves,andnoexcessreserveorcurrencydrain?(C)

C.$10,000

2.Inthemoneysupplyprocess,openmarketoperationsinitallyaffect(A)

A.thesupplyofreservesavailabletodepositoryinstitions

3.WhentheFedbuyssecurities,reservesofdepositoryinstitutions(B)

B.rise

4.WhentheFedsellssecurities,reservesofdepositoryinstitution(C)

C.fall

5.(C)is/arethereciprocaloftherequiredreserveratio(1/Rd)

C.Thesimplemoneymultiplier

6.Commercialbankreservescanbeheldintheform(s)of(D)

D.vaultcashanddepositsattheFed

7.Whichofthefollowingcauseandeffectrelationshipsistrue?(A)

A.Anincreaseinreservesassetsenablesanincreaseinthesupplyofmoney

8.Depositoryinstitutionsarerequiredtoholdreserveassetsequ