金融市场与机构 (9)

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1、Chapter9TheMoneyMarkets123Chapter9TheMoneyMarketsnMultipleChoiceQuestions1.Activityinmoneymarketsincreasedsignificantlyinthelate1970sandearly1980sbecauseof(a)risingshort-terminterestrates.(b)regulationsthatlimitedwhatbankscouldpayfordeposits.(c)both(a)an

2、d(b).(d)neither(a)nor(b).Answer:C2.Moneymarketsecuritieshaveallthefollowingcharacteristicsexcepttheyarenot(a)shortterm.(b)money.(c)lowrisk.(d)veryliquid.Answer:B3.Moneymarketinstruments(a)areusuallysoldinlargedenominations.(b)havelowdefaultrisk.(c)mature

3、inoneyearorless.(d)arecharacterizedbyalloftheabove.(e)arecharacterizedbyonly(a)and(b)oftheabove.Answer:D4.Thebankingindustry(a)shouldhaveanefficiencyadvantageingatheringinformationthatwouldeliminatetheneedforthemoneymarkets.(b)existsprimarilytomediatethe

4、asymmetricinformationproblembetweensaver-lendersandborrower-spenders.(c)issubjecttomoreregulationsandgovernmentalcoststhanarethemoneymarkets.(d)alloftheabovearetrue.(e)only(a)and(b)oftheabovearetrue.Answer:DChapter9TheMoneyMarkets1235.Insituationswhereas

5、ymmetricinformationproblemsarenotsevere,(a)themoneymarketshaveadistinctcostadvantageoverbanksinprovidingshort-termfunds.(b)themoneymarketshaveadistinctcostadvantageoverbanksinprovidinglong-termfunds.(c)bankshaveadistinctcostadvantageoverthemoneymarketsin

6、providingshort-termfunds.(d)themoneymarketscannotallocateshort-termfundsasefficientlyasbankscan.Answer:A6.Brokeragefirmsthatofferedmoneymarketsecurityaccountsinthe1970shadacostadvantageoverbanksinattractingfundsbecausethebrokeragefirms(a)werenotsubjectto

7、depositreserverequirements.(b)werenotsubjecttothedepositinterestrateceilings.(c)werenotlimitedinhowmuchtheycouldborrowfromdepositors.(d)hadtheadvantageofalltheabove.(e)hadtheadvantageofonly(a)and(b)oftheabove.Answer:E7.Whichofthefollowingstatementsaboutt

8、hemoneymarketaretrue?(a)Notallcommercialbanksdealfortheircustomersinthesecondarymarket.(b)Moneymarketsareusedextensivelybybusinessesbothtowarehousesurplusfundsandtoraiseshort-termfunds.(c)Thesinglemostinfluentialparticipan