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1、PARTTHREEAnswerstoEnd-of-ChapterProblemsChapter1WhyStudyMoney,Banking,andFinancialMarkets?2.ThedatainFigures1,2,3,and4suggestthatrealoutput,theinflationrate,andinterestrateswouldallfail.4.Youmightbemorelikelytobuyahouseoracarbecausethecostoffinancingthemwouldfall,
2、oryoumightbelesslikelytosavebecauseyouearnlessonyoursavings.6.No.Itistruethatpeoplewhoborrowtopurchaseahouseoracarareworseoffbecauseitcoststhemmoretofinancetheirpurchase;however,saversbenefitbecausetheycanearnhigherinterestratesontheirsavings.7.Thebasicactivityofb
3、anksistoacceptdepositsandmakeloans.8.Theychannelfundsfrompeoplewhodonothaveaproductiveuseforthemtopeoplewhodo,therebyresultinginhighereconomicefficiency.9.Theinterestrateonthree-monthTreasurybillsfluctuatesmorethantheotherinterestratesandisloweronaverage.Theintere
4、strateonBaacorporatebondsishigheronaveragethantheotherinterestrates.10.Thelowerpriceforafirm’ssharesmeansthatitcanraiseasmalleramountoffunds,soinvestmentinfacilitiesandequipmentwillfall.11.Higherstockpricesmeansthatconsumers’wealthishigher,andtheywillbemorelikelyt
5、oincreasetheirspending.12.Itmakesforeigngoodsmoreexpensive,soBritishconsumerswillbuyfewerforeigngoodsandmoredomesticgoods.13.ItmakesBritishgoodsmoreexpensiverelativetoAmericangoods.ThusAmericanbusinesseswillfinditeasiertoselltheirgoodsintheUnitedStatesandabroad,an
6、dthedemandfortheirproductswillrise.14.Inthemid-tolate1970sandinthelate1980sandearly1990s,thevalueofthedollarwaslow,makingtravelabroadrelativelymoreexpensive;thusitwasagoodtimetovacationintheUnitedStatesandseetheGrandCanyon.Withtheriseinthedollar’svalueintheearly19
7、80s,travelabroadbecamerelativelycheaper,makingitagoodtimetovisittheTowerofLondon.15.Whenthedollarincreasesinvalue,foreigngoodsbecomelessexpensiverelativetoAmericangoods;thusyouaremorelikelytobuyFrench-madejeansthanAmerican-madejeans.TheresultingdropindemandforAmer
8、ican-madejeansbecauseofthestrongdollarhurtsAmericanjeansmanufacturers.Ontheotherhand,theAmericancompanythatimportsjeansintotheUnitedStatesnowfindsthatth
