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EconomicsofMoney,Banking,andFinancialMarkets,AlternateEdition(Mishkin)Chapter11.1WhyStudyFinancialMarkets?1)FinancialmarketspromoteeconomicefficiencybyA)channelingfundsfrominvestorstosavers.B)creatinginflation.C)channelingfundsfromsaverstoinvestors.D)reducinginvestment.Answer:CQuesStatus:Revised2)Financialmarketspromotegreatereconomicefficiencybychannelingfundsfrom________to________.A)investors;saversB)borrowers;saversC)savers;borrowersD)savers;lendersAnswer:CQuesStatus:New3)Well-functioningfinancialmarketspromoteA)inflation.B)deflation.C)unemployment.D)growth.Answer:DQuesStatus:Revised4)MarketsinwhichfundsaretransferredfromthosewhohaveexcessfundsavailabletothosewhohaveashortageofavailablefundsarecalledA)commoditymarkets.B)fund-availablemarkets.C)derivativeexchangemarkets.D)financialmarkets.Answer:DQuesStatus:PreviousEdition5)________marketstransferfundsfrompeoplewhohaveanexcessofavailablefundstopeoplewhohaveashortage.A)CommodityB)Fund-availableC)FinancialD)DerivativeexchangeAnswer:CQuesStatus:NewEconomicsofMoney,Banking,andFinancialMarkets,8e(Mishkin)Chapter16)PoorlyperformingfinancialmarketscanbethecauseofA)wealth.B)poverty.C)financialstability.D)financialexpansion.Answer:BQuesStatus:Revised7)ThebondmarketsareimportantbecausetheyareA)easilythemostwidelyfollowedfinancialmarketsintheUnitedStates.B)themarketswhereforeignexchangeratesaredetermined.C)themarketswhereinterestratesaredetermined.D)themarketswhereallborrowersgettheirfunds.Answer:CQuesStatus:Revised8)Thepricepaidfortherentalofborrowedfunds(usuallyexpressedasapercentageoftherentalof$100peryear)iscommonlyreferredtoastheA)inflationrate.B)exchangerate.C)interestrate.D)aggregatepricelevel.Answer:CQuesStatus:PreviousEdition9)Comparedtointerestratesonlong-termU.S.governmentbonds,interestratesonthree-monthTreasurybillsfluctuate________andare________onaverage.A)more;lowerB)less;lowerC)more;higherD)less;higherAnswer:AQuesStatus:PreviousEdition10)TheinterestrateonBaa(mediumquality)corporatebondsis________,onaverage,thanotherinterestrates,andthespreadbetweenitandotherratesbecame________inthe1970s.A)lower;smallerB)lower;largerC)higher;smallerD)higher;largerAnswer:DQuesStatus:PreviousEditionEconomicsofMoney,Banking,andFinancialMarkets,8e(Mishkin)Chapter111)Everythingelseheldconstant,adeclineininterestrateswillcausespendingonhousingtoA)fall.B)remainunchanged.C)eitherrise,fall,orremainthesame.D)rise.Answer:DQuesStatus:Revised12)Anincreaseininterestratesmight________savingbecausemorecanbeearnedininterestincome.A)encourageB)discourageC)disallowD)invalidateAnswer:AQuesStatus:New13)Everythingelseheldconstant,anincreaseininterestratesonstudentloansA)increasesthecostofacollegeeducation.B)reducesthecostofacollegeeducation.C)hasnoeffectoneducationalcosts.D)increasescostsforstudentswithnoloans.Answer:AQuesStatus:Revised14)Highinterestratesmightcauseacorporationto________buildinganewplantthatwouldprovidemorejobs.A)completeB)considerC)postponeD)contemplateAnswer:CQuesStatus:New15)ThestockmarketisimportantbecauseitisA)whereinterestratesaredetermined.B)themostwidelyfollowedfinancialmarketintheUnitedStates.C)whereforeignexchangeratesaredetermined.D)themarketwheremostborrowersgettheirfunds.Answer:BQuesStatus:Revised16)Stockpricessincethe1950shavebeenA)relativelystabletrendingupwardatasteadypace.B)relativelystabletrendingdownwardatamoderaterate.C)extremelyvolatile.D)unstabletrendingdownwardatamoderaterate.Answer:CQuesStatus:PreviousEditionEconomicsofMoney,Banking,andFinancialMarkets,8e(Mishkin)Chapter117)ArisingstockmarketindexduetohighersharepricesA)increasespeople'swealth,butisunlikelytoincreasetheirwillingnesstospend.B)increasespeople'swealthandasaresultmayincreasetheirwillingnesstospend.C)decreasestheamountoffundsthatbusinessfirmscanraisebysellingnewly-issuedstock.D)decreasespeople'swealth,butisunlikelytoincreasetheirwillingnesstospend.Answer:BQuesStatus:Revised18)WhenstockpricesfallA)anindividual'swealthisnotaffectednoristheirwillingnesstospend.B)abusinessfirmwillbemorelikelytosellstocktofinanceinvestmentspending.C)anindividual'swealthmaydecreasebuttheirwillingnesstospendisnotaffected.D)anindividual'swealthmaydecreaseandtheirwillingnesstospendmaydecrease.Answer:DQuesStatus:New19)ChangesinstockpricesA)donotaffectpeople'swealthandtheirwillingnesstospendB)affectfirms'decisionstosellstocktofinanceinvestmentspending.C)occurinregularpatterns.D)areunimportanttodecisionmakers.Answer:BQuesStatus:Revised20)Anincreaseinstockprices________thesizeofpeople'swealthandmay________theirwillingnesstospend,everythingelseheldconstant.A)increases;increaseB)increases;decreaseC)decreases;increaseD)decreases;decreaseAnswer:AQuesStatus:New21)Fearofamajorrecessioncausesstockpricestofall,everythingelseheldconstant,whichinturncausesconsumerspendingtoA)increase.B)remainunchanged.C)decrease.D)cannotbedetermined.Answer:CQuesStatus:Revised22)Acommonstockisaclaimonacorporation'sA)debt.B)liabilities.C)expenses.D)earningsandassets.Answer:DQuesStatus:RevisedEconomicsofMoney,Banking,andFinancialMarkets,8e(Mishkin