The Economics of Money, Banking and Financial Markets (11th 11E - Mishkin - TB chapter 12

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1、EconomicsofMoney,Banking,andFinancialMarkets,11e(Mishkin)Chapter12FinancialCrises12.1WhatisaFinancialCrisis?1)AmajordisruptioninfinancialmarketscharacterizedbysharpdeclinesinassetpricesandfirmfailuresiscalledaA)financialcrisis.B)fiscalimbalance.C)free-riderproblem.D)"lem

2、ons"problem.Answer:AAACSB:ApplicationofKnowledge2)AfinancialcrisisoccurswhenanincreaseinasymmetricinformationfromadisruptioninthefinancialsystemA)causessevereadverseselectionandmoralhazardproblemsthatmakefinancialmarketsincapableofchannelingfundsefficiently.B)allowsforam

3、oreefficientuseoffunds.C)increaseseconomicactivity.D)reducesuncertaintyintheeconomyandincreasesmarketefficiency.Answer:AAACSB:ReflectiveThinking3)AseriousconsequenceofafinancialcrisisisA)acontractionineconomicactivity.B)anincreaseinassetprices.C)financialengineering.D)fi

4、nancialglobalization.Answer:AAACSB:ReflectiveThinking4)________areasymmetricinformationproblemsthatactasabarriertoefficientallocationofcapital.A)AssetpricesB)CreditimbalancesC)FinancialfrictionsD)FinancialderivativesAnswer:CAACSB:ApplicationofKnowledge10Copyright©2016Pea

5、rsonEducation,Inc.12.2DynamicsofFinancialCrises1)FinancialcrisesinadvancedeconomiesmightstartfromaA)debtdeflation.B)currencycrisis.C)mismanagementoffinancialinnovations.D)currencymismatch.Answer:CAACSB:ReflectiveThinking2)Whenfinancialinstitutionsgoonalendingspreeandexpa

6、ndtheirlendingatarapidpacetheyareparticipatinginaA)creditboom.B)creditbust.C)deleveraging.D)marketrace.Answer:AAACSB:ApplicationofKnowledge3)Whenthevalueofloansbeginstodrop,thenetworthoffinancialinstitutionsfallscausingthemtocutbackonlendinginaprocesscalledA)deleveraging

7、.B)releveraging.C)capitulation.D)deflation.Answer:AAACSB:ApplicationofKnowledge4)Whenfinancialintermediariesdeleverage,firmscannotfundinvestmentopportunitiesresultinginA)acontractionofeconomicactivity.B)aneconomicboom.C)anincreasedopportunityforgrowth.D)acallforgovernmen

8、tregulation.Answer:AAACSB:ReflectiveThinking5)Whenassetpricesriseabovetheirfundamentaleconomicvalues,a(