经济学原理对应练习Ch26解析

1081Chapter26Saving,Investment,andtheFinancialSystemMultipleChoice1.Whenopeningarestaurantyoumayneedtobuyovens,freezers,tables,andcashregisters.Economistscalltheseexpendituresa.capitalinvestment.b.investmentinhumancapital.c.businessconsumptionexpenditures.d.Noneoftheaboveiscorrect.ANS:APTS:1DIF:1REF:26-1TOP:InvestmentMSC:Interpretive2.WhenacountrysavesalargerportionofitsGDP,itwillhavea.morecapitalandhigherproductivity.b.morecapitalandlowerproductivity.c.lesscapitalandhigherproductivity.d.lesscapitalandlowerproductivity.ANS:APTS:1DIF:1REF:26-1TOP:InvestmentMSC:Definitional3.Institutionsintheeconomythathelptomatchoneperson'ssavingwithanotherperson'sinvestmentarecollectivelycalledthea.FederalReservesystem.b.bankingsystem.c.monetarysystem.d.financialsystem.ANS:DPTS:1DIF:1REF:26-1TOP:FinancialsystemMSC:Definitional4.Lekeisha'sincomeexceedsherexpenditures.Lekeishaisaa.saverwhodemandsmoneyfromthefinancialsystem.b.saverwhosuppliesmoneytothefinancialsystem.c.borrowerwhodemandsmoneyfromthefinancialsystem.d.borrowerwhosuppliesmoneytothefinancialsystem.ANS:BPTS:1DIF:2REF:26-1TOP:SupplyofloanablefundsMSC:Definitional5.Whichofthefollowingisnotcorrect?a.Whenacountrysavesmore,ithasmorecapital.b.Asupplierofloanablefundsborrowsmoney.c.Theinterestrateadjuststobalancethequantitysuppliedofandthequantitydemandedofloanablefunds.d.IfMarybuysequipmentforherfactory,Maryisengagingincapitalinvestment.ANS:BPTS:1DIF:1REF:26-1TOP:Investment|Capital|MarketforloanablefundsMSC:Definitional6.Lucystartsherownpsychiatricpractice,butherexpenditurestoopenthepracticeexceedherincome.Lucyisaa.saverwhodemandsmoneyfromthefinancialsystem.b.saverwhosuppliesmoneytothefinancialsystem.c.borrowerwhodemandsmoneyfromthefinancialsystem.d.borrowerwhosuppliesmoneytothefinancialsystem.ANS:CPTS:1DIF:1REF:26-1TOP:SupplyofloanablefundsMSC:Definitional1082Chapter26/Saving,Investment,andtheFinancialSystem7.Abondisaa.financialintermediary.b.certificateofindebtedness.c.certificateofpartialownershipinanenterprise.d.Noneoftheaboveiscorrect.ANS:BPTS:1DIF:1REF:26-1TOP:BondsMSC:Definitional8.Whichofthefollowingwouldbeanexampleofdirectfinance?a.Asaverbuyssharesinamutualfund.b.Asaverdepositsmoneyintoacreditunion.c.Asaverbuysabondacorporationhasjustissuedsoitcanpurchasecapital.d.Noneoftheaboveiscorrect.ANS:CPTS:1DIF:1REF:26-1TOP:Bonds|DirectfinanceMSC:Interpretive9.Acertificateofindebtednessthatspecifiestheobligationsoftheborrowertotheholderiscalledaa.bond.b.stock.c.mutualfund.d.Alloftheabovearecorrect.ANS:APTS:1DIF:1REF:26-1TOP:BondsMSC:Definitional10.Ifthegovernment'sexpendituresexceededitsreceipts,itwouldlikelya.lendmoneytoabankorotherfinancialintermediary.b.borrowmoneyfromabankorotherfinancialintermediary.c.buybondsdirectlyfromthepublic.d.sellbondsdirectlytothepublic.ANS:DPTS:1DIF:2REF:26-1TOP:Bonds|DirectfinanceMSC:Interpretive11.MegasoftwantstofinancethepurchaseofnewequipmentfordevelopingsecuritysoftwarecalledDoors,buttheyhavelimitedinternalfunds.Megasoftwilllikelya.demandloanablefundsbybuyingbonds.b.demandloanablefundsbysellingbonds.c.supplyloanablefundsbybuyingbonds.d.supplyloanablefundsbysellingbonds.ANS:BPTS:1DIF:2REF:26-1TOP:Investment|MarketforloanablefundsMSC:Interpretive12.SkylineChiliwantstofinancethepurchaseofnewequipmentforitsrestaurants,buttheyhavelimitedinternalfunds.Skylinewilllikelya.demandloanablefundsbybuyingbonds.b.demandloanablefundsbysellingbonds.c.supplyloanablefundsbybuyingbonds.d.supplyloanablefundsbysellingbonds.ANS:BPTS:1DIF:2REF:26-1TOP:Investment|MarketforloanablefundsMSC:Interpretive13.IfProctorandGamblesellsabonditisa.borrowingdirectlyfromthepublic.b.borrowingindirectlyfromthepublic.c.lendingdirectlytothepublic.d.lendingindirectlytothepublic.ANS:APTS:1DIF:2REF:26-1TOP:Bonds|DirectfinanceMSC:InterpretiveChapter26/Saving,Investment,andtheFinancialSystem108314.Whichofthefollowingiscorrect?a.Thematurityofabondreferstotheamounttobepaidback.b.Theprincipalofthebondreferstothepersonsellingthebond.c.Abondbuyercannotsellabondbeforeitmatures.d.Noneoftheaboveiscorrect.ANS:DPTS:1DIF:1REF:26-1TOP:BondsMSC:Definitional15.Whichofthefollowingisnotanonsensicalheadline?a.Britishperpetuitiesabouttomature.b.Disneyissuesnewbondswithtermof$1,000each.c.Governmentbondscurrentlypaylessinterestthancorporatebonds.d.StandardandPoor'sjudgesnewjunkbondtohaveverylowcreditrisk.ANS:CPTS:1DIF:2REF:26-1TOP:BondsMSC:Interpretive16.Thelengthoftimeuntilabondmaturesiscalledthea.perpetuity.b.term.c.maturity.d.intermediation.ANS:BPTS:1DIF:1REF:26-1TOP:Bonds|TermMSC:Definitional17.Aperpetuityisdistinguishedfromotherbondsinthatita.payscontinuouslycompoundedinterest.b.paysinterestonlywhenitmatures.c.nevermatures.d.willbeusedtopurchaseanotherbondwhenitmaturesunlesstheownerspecifiesotherwise.ANS:CPTS:1DIF:1REF:26-1TOP:PerpetuityMSC:Definitional18.Whichofthefollowingiscorrect?a.Somebondshavetermsasshortasafewmonths.b.Becausetheyaresorisky,junkbondspayalowrateofinterest.c.Corporationsbuybondstoraisefunds.d.Alloftheabovearecorrect.ANS:APTS:1DIF:1REF:26-1TOP:BondsMSC:Interpretive19.Whichoft