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起止时间:2021-09-06到2022-01-10
更新状态:每周周末更新
Chapter 5： Interest Yields, Interest Rate Risk, and Derivative Securities Chapter5
1、 The amount of credit extended via a financial instrument is known as the
A:principal.
B:premium.
C: interest.
D:interest rate.
答案: principal.
2、 When someone sells a bond at a discount, the holder of the bond earns __ with the purchase.
A:a capital gain
B:a capital loss
C:market value
D:interest
答案: a capital gain
3、 If a bond pays the same coupon payment forever without a maturity, it is known as a
A:perpetuity.
B:forever bond.
C:discount bond.
D:consolidated bond.
答案: perpetuity.
4、 A perpetuity that pays $250 per year at an interest rate of 4% would have a market price equal to
A:$6,250.
B: $25,000.
C: $2,500.
D:$62,500.
答案: $6,250.
5、 If you have a bond that pays a lump sum at the time of maturity, it is
A:called a zero-coupon bond.
B: worth more than a bond with coupon payments.
C:riskier than a bond with coupon payments.
D:a safer investment than a perpetuity.
答案: called a zero-coupon bond.
6、 When investigating the term structure of interest rates, the bonds compared are
A: identical except for their maturity dates.
B: identical in maturity, but differ in terms of liquidity and risk.
C:identical in terms of risk, but differ in terms of tax characteristics.
D: identical except for their liquidity.
答案: identical except for their maturity dates.
7、 Which of the following theories does not help to explain the why the yield curve follows its traditional shape?
A:the Segmented Markets theory
B: the Rational Expectations theory
C: the Preferred Habitat theory
D:All of these help to explain the yield curve’s shape.
答案: the Rational Expectations theory
8、 Which of the theories explaining the yield curve can explain the slope of the yield curve but cannot explain why it is traditionally upward sloping?
A:the Segmented Markets theory
B:the Expectations theory
C: the Preferred Habitat theory
D:Uncovered Interest Rate parity
答案: the Expectations theory
9、 Which of the following theories includes both the concept of imperfect substitutability of financial instruments of varying terms as well as allowing for a preference for shorter-term instruments?
A: the Segmented Markets theory
B: the Expectations theory
C:the Preferred Habitat theory
D:Uncovered Interest Rate parity
答案: the Preferred Habitat theory
10、 If an investor expects to get a higher yield for a longer-termed instrument, it is called a
A:term premium.
B: risk premium.
C:risk preference.
D:yield curve.
答案: term premium.
Chapter 9： Monetary and Portfolio Approaches to Exchange-Rate and Balance-of-Payments Determination
1、 The sum of currency and bank reserves held by the central bank is one way of calculating
A:the monetary base.
B:the money multiplier.
C:the domestic portfolio.
D:domestic credit.
答案: the monetary base.
2、 If the government issues new bonds, then domestic credit would
A:decrease.
B:increase.
C:remain unaffected.
D:become greater than the money stock.
答案: decrease.
3、 A nation’s FER __
A:stands for foreign exchange reserves.
B:is valued in terms of domestic currency.
C:can used to intervene in currency markets.
D:all of the above
答案: all of the above
4、 The monetary base can be calculated as:
A:DC + FER.
B:DC + TR.
C:C + FER.
D:DC + FER + C + TR.
答案: DC + FER.
5、 If domestic credit were $12 million and foreign exchange reserves were $26 million and the reserve requirement were 10%, what is the value of the money stock?
A:$380 million
B:$38.1 million
C:$140 million
D: $14 million
答案: $380 million
6、 The money multiplier is
A:simply one over the required reserve percentage.
B:the relationship between bonds and money.
C: the way to calculate the impact of open market operations on foreign exchange reserves.
D:equal to total reserves divided by total deposits.
答案: simply one over the required reserve percentage.
7、 When a central bank intervenes in the _, their intention is to _.
A:spot market; convey a clear signal to the markets
B:futures market, hide its actions from the markets
C:forward market, hide its actions from the markets
D: swap markets, convey a clear signal to the markets
答案: spot market; convey a clear signal to the markets
8、 If an economy has a fixed exchange rate and it chooses to issue $10 million in bonds, what will happen according to the Monetary approach?
A: It will have to increase its foreign exchange reserves.
B:It will have to decrease its foreign exchange reserves.
C: It will have to allow its currency to appreciate.
D:It will have to allow its currency to depreciate.
答案: It will have to increase its foreign exchange reserves.
9、 If an economy has a flexible exchange rate and it chooses to issue $10 million in bonds, what will happen according to the Monetary approach?
A: It will have to allow its currency to appreciate.
B:It will have to allow its currency to depreciate.
C:It will have to decrease its foreign exchange reserves.
D:It will have to increase its foreign exchange reserves.
答案: It will have to allow its currency to appreciate.
10、 One danger of sterilizing foreign exchange interventions is that changing the combinations of assets on a Central bank’s balance sheet may influence the prices of the assets they hold. This is known as
A:the portfolio balance effect.
B: the announcement effect.
C:the signaling effect.
D:the locomotive effect.
答案: the portfolio balance effect.
Chapter 1 Keeping Up With a Changing World-Trade Flows, Capital Flows, and the Balance of Payments
1、 International economic integration refers to
A:the expansion of world governance and global society.
B:the increased mobility of peoples and information.
C:the strengthening of existing international linkages of commerce and the addition of new linkages.
D: the increasing of market integration.
答案: the strengthening of existing international linkages of commerce and the addition of new linkages.
2、 When someone talks about “invisibles” with respect to globalization, they are referring to
A: individuals left behind in the development process.
B: the flow of funds that takes place behind the scenes.
C: the increase of trade in services.
D:the influence of government policies that is often not measurable.
答案: the increase of trade in services.
3、 The real sector of an economy refers to transactions in
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