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1、试卷1•名词解释：1.Recession:Itisdecliningaggregateoutputinaperiodofbusinesscycleintheeconomicoperations.2.InterestrateItisthecostofborrowingorthepricepaidfortherentalfunds.3.MoneymarketThemoneymarketisafinancialmarketinwhichonlyshort-rundebtinstrumentsaretraded.4.Capital
2、marketItisthemarketinwhichlong-termdebtandequityinstrumentsaretraded.5.DefaultAsituationinwhichthepartyissuingthedebtinstrumentisunabletomakeinterestpaymentsorpayofftheamountowedwhentheinstrumentmatures^6.CurrencyCurrencyintherealmoneyusedineverydaylifethatincludi
3、ngpapermoneyandcoin&7.LiquidityAnassetcanbeconvertedintoamediumofexchangewithrelativeease,speedandnolosses.8・LeverageratioBankcapitalrequirementstaketwoforms,firsttypeisbaseontheleverageratio,theamountofcapitaldividedbythebank'stotalassets.9.DisintermediationThisl
4、ossofdepositfrombankingsystemrestrictedtheamountoffundsthatbankscouldlendandthuslimitedbankprofits.10>MultipledepositcreationWhentheCentralBanksuppliesthebankingsystemwith$1ofadditionalreserves‘depositsincreasebyamultipleofthisamount,wecouldcallthisprocessasmultip
5、ledepositcreation.4.计算题：A卷：1.Ifweknowrequiredreservesrate=0.10,C=280billion,D=800billion,ER=40billion,pleasecalculate(1)c,e，m，RR，RandMB;(2)Ifcentralbankreducetherequiredreserverateofthecheckabledepositto0.08,monetarybase,canderemainconstantly,pleasecalculatem,M,D,
6、C,RRandER.Answer:(1)c=280/800=0.35e二40/800=0.05m二1.35/0.5二2.7RR=r*D=0.1*800=80bR=RR+ER=120bMB二C+R=280+120=400b5分(2)m=1.35/0.48=2.8125MM00/2.8125=1125bM二C+D二c*D+D=(l+c)*D=L35DD=1125/1.35=833.33bOc*D二0.35吃33.33二29167bRR=0.08*833.33=66・67bER=400-66.67-291.67=41.67b5分
7、2.Acouponbondmakesannualinterestpaymentsof$10Thematurityis2years.REQUIRED:Calculatethepriceofbondiftheyieldtomaturity:(i)Dropsto6percent;(ii)Risesto10percentAnswer:(1)过程3分871.662分(2)过程3分809.092分B卷：1.Ifweknowrequiredreservesrate=
8、0.10,C=300billion,D=1000billion,ER=80billion,pleasecalculate(l)c,e,m9RR,RandMB;(2)IfcentralbankreducetherequiredreserverateofthecheckabledeposittoAnswer
