金融市场与机构(9)

chapter9

themoneymarkets

。multiplechoicequestions

1.

activityinmoneymarketsincreasedsignificantlyinthelate1970sandearly1980sbecauseof（a）risingshort-terminterestrates.

（b）regulationsthatlimitedwhatbankscouldpayfordeposits.（c）both（a）and（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）matureinoneyearorless.

（d）arecharacterizedbyalloftheabove.

（e）arecharacterizedbyonly（a）and（b）oftheabove.answer：d4.

thebankingindustry

（a）shouldhaveanefficiencyadvantageingatheringinformationthatwouldeliminatetheneedfor

themoneymarkets.

（b）existsprimarilytomediatetheasymmetricinformationproblembetweensaver-lendersand

borrower-spenders.

（c）issubjecttomoreregulationsandgovernmentalcoststhanarethemoneymarkets.（d）alloftheabovearetrue.

（e）only（a）and（b）oftheabovearetrue.answer：d

112mishkin/eakins。financialmarketsandinstitutions，fifthedition

5.

insituationswhereasymmetricinformationproblemsarenotsevere，

（a）themoneymarketshaveadistinctcostadvantageoverbanksinprovidingshort-termfunds.（b）themoneymarketshaveadistinctcostadvantageoverbanksinprovidinglong-termfunds.（c）bankshaveadistinctcostadvantageoverthemoneymarketsinprovidingshort-termfunds.（d）themoneymarketscannotallocateshort-termfundsasefficientlyasbankscan.answer：a