金融市场与机构-(15)

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1、Chapter15WhyDoFinancialInstitutionsExist?203Chapter15WhyDoFinancialInstitutionsExist?nMultipleChoiceQuestions1.OfthefollowingsourcesofexternalfinanceforAmericannonfinancialbusinesses,theleastimportantis(a)loansfrombanks.(b)stocks.(c)bondsandcommercialpape

2、r.(d)nonbankloans.Answer:B2.OfthefollowingsourcesofexternalfinanceforAmericannonfinancialbusinesses,themostimportantis(a)loansfrombanks.(b)stocks.(c)bondsandcommercialpaper.(d)nonbankloans.Answer:D3.Ofthesourcesofexternalfundsfornonfinancialbusinessesinth

3、eUnitedStates,bondsaccountforapproximately_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)50percentAnswer:C4.OfthesourcesofexternalfundsfornonfinancialbusinessesintheUnitedStates,stocksaccountforapproximately_________ofthetotal.(a)10percent(b)2

4、0percent(c)30percent(d)40percentAnswer:AChapter15WhyDoFinancialInstitutionsExist?2035.WithregardtoexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatements?(a)Marketablesecuritiesaccountforalargershareof

5、externalbusinessfinancingintheUnitedStatesthaninmostothercountries.(b)Since1970,lessthan5percentofnewlyissuedcorporatebondsandcommercialpaperhavebeensolddirectlytoAmericanhouseholds.(c)ThestockmarketaccountedforthelargestshareofthefinancingofAmericanbusin

6、essesinthe1970–2000period.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:E6.WithregardtoexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatements?(a)Directfinanceisusedinlessthan5percentoftheexternal

7、financingofAmericanbusinesses.(b)Onlylarge,well-establishedcorporationshaveaccesstosecuritiesmarketstofinancetheiractivities.(c)LoansfrombanksandotherfinancialintermediariesintheUnitedStatesprovidefivetimesmorefinancingofcorporateactivitiesthandostockmark

8、ets.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:D7.(I)IntheUnitedStatesnonbankloansarethemostimportantsourceofexternalfundsfornonfinancialbusinesses.(II)InGermanyandJapan,issuingstocksandbondsisthemostimporta