The Economics of Money, Banking and Financial Markets (11th 11E - Mishkin - TB chapter 25

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1、EconomicsofMoney,Banking,andFinancialMarkets,11e(Mishkin)Chapter25TransmissionMechanismsofMonetaryPolicy25.1TransmissionMechanismofMonetaryPolicy1)Economictheorysuggeststhat________interestratesare________importantthan________interestratesinexplaininginvestmentbehavior.A)nominal;mo

2、re;realB)real;less;nominalC)real;more;nominalD)market;more;realAnswer:CAACSB:ReflectiveThinking2)Accordingtothetraditionalinterest-ratechannel,expansionarymonetarypolicylowerstherealinterestrate,therebyraisingexpenditureonA)businessfixedinvestment.B)governmentexpenditure.C)consumer

3、nondurables.D)netexports.Answer:AAACSB:ReflectiveThinking3)ThemonetarytransmissionmechanismthatlinksmonetarypolicytoGDPthroughrealinterestratesandinvestmentspendingiscalledtheA)traditionalinterest-ratechannel.B)Tobins'qtheory.C)wealtheffects.D)cashflowchannel.Answer:AAACSB:Reflecti

4、veThinking4)Iftheaggregatepriceleveladjustsslowlyovertime,thenanexpansionarymonetarypolicylowersA)onlytheshort-termnominalinterestrate.B)onlytheshort-termrealinterestrate.C)boththeshort-termnominalandrealinterestrates.D)theshort-termnominal,theshort-termreal,andthelong-termrealinte

5、restrates.Answer:DAACSB:ReflectiveThinking14Copyright©2016PearsonEducation,Inc.5)Ifmonetarypolicycaninfluence________pricesandconditionsin________markets,thenitcanaffectspendingthroughchannelsotherthanthetraditionalinterest-ratechannel.A)asset;laborB)asset;creditC)commodity;laborD)

6、commodity;creditAnswer:BAACSB:ReflectiveThinking6)Anexpansionarymonetarypolicylowerstherealinterestrate,causingthedomesticcurrencyto________,thereby________netexports.A)appreciate;raisingB)appreciate;loweringC)depreciate;raisingD)depreciate;loweringAnswer:CAACSB:AnalyticalThinking7

7、)Anexpansionarymonetarypolicyincreasesnetexportsby________interestratesand________thevalueofthedollar.A)loweringnominal;decreasingB)loweringreal;decreasingC)raisingnominal;increasingD)raisingreal;increasingAnswer:BAACSB:AnalyticalThinking8)Acontractionarymonetarypolicyraisesthereal

8、interestrate,causingthedom