AbelTest BankChapter 1.docx
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AbelTestBankChapter1
EconomicsofMoney,Banking&FinancialMarkets,5e（Mishkin）
Chapter1WhyStudyMoney,Banking,andFinancialMarkets?
1.1WhyStudyFinancialMarkets?
1）Financialmarketspromoteeconomicefficiencyby________.
A）channellingfundsfrominvestorstosavers
B）creatinginflation
C）channellingfundstothosewhohaveaproductiveuseforthem
D）reducinginvestment
Answer:
C
Diff:
1Type:
MCPageRef:
2
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
2）Well-functioningfinancialmarketspromote________.
A）inflation
B）deflation
C）unemployment
D）economicgrowth
Answer:
D
Diff:
1Type:
MCPageRef:
2-3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
3）Akeyfactorinproducinghigheconomicgrowthis________.
A）eliminatingforeigntrade
B）well-functioningfinancialmarkets
C）highinterestrates
D）stockmarketvolatility
Answer:
B
Diff:
1Type:
MCPageRef:
2-3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
4）Marketsinwhichfundsaretransferredfromthosewhodonothaveaproductiveuseforthemtothosewhodoarecalled________.
A）commoditymarkets
B）fund-availablemarkets
C）derivativeexchangemarkets
D）financialmarkets
Answer:
D
Diff:
1Type:
MCPageRef:
2-3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
5）________marketstransferfundsfrompeoplewhodonothaveaproductiveuseforthemtopeoplewhodo.
A）Commodity
B）Fund-available
C）Financial
D）Derivativeexchange
Answer:
C
Diff:
1Type:
MCPageRef:
2-3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
6）Poorlyperformingfinancialmarketscanbethecauseof________.
A）wealth
B）poverty
C）financialstability
D）financialexpansion
Answer:
B
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
7）Thebondmarketsareimportantbecausetheyare________.
A）easilythemostwidelyfollowedfinancialmarketsinCanada
B）themarketswhereforeignexchangeratesaredetermined
C）wherecorporationsandgovernmentsborrowtofinancetheiractivities
D）themarketswhereallborrowersgettheirfunds
Answer:
C
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
8）Asecurityisalsoknownas________.
A）afinancialinstrument
B）acontingentclaim
C）theinterestrate
D）aliability
Answer:
A
Diff:
1Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
9）Abondis________.
A）notasgoodasinvestmentasstocks
B）paysinterestsporadically
C）neverpaysinterest
D）makespaymentsperiodicallyforaspecifiedperiodoftime
Answer:
D
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
10）Thefluctuationofinterestrates________.
A）neveroccursbecausethecentralbankisinvolvedinsettingtherate
B）isduetochangesinstockprices
C）cannotoccurbecausethereisonlyoneinterestrate
D）impactsallCanadians
Answer:
D
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
11）Thecostofborrowingiscommonlyreferredtoasthe________.
A）inflationrate
B）exchangerate
C）interestrate
D）aggregatepricelevel
Answer:
C
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
12）Comparedtointerestratesonlong-termbonds,interestratesonthree-monthTreasurybillsfluctuate________andare________onaverage.
A）more;lower
B）less;lower
C）more;higher
D）less;higher
Answer:
A
Diff:
1Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
13）Theinterestrateonlong-termcorporatebondsis________,onaverage,thanotherinterestrates.Thespreadbetweenitanotherrates________overtime.
A）lower;remainsconstant
B）lower;fluctuates
C）higher;remainsconstant
D）higher;fluctuates
Answer:
D
Diff:
1Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
14）Everythingelseheldconstant,ariseininterestrateswillcausespendingonhousingto________.
A）rise
B）remainunchanged
C）eitherrise,fall,orremainthesame
D）fall
Answer:
D
Diff:
2Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
15）Highinterestratesmight________purchasingahouseorcarbutatthesametimehighinterestratesmight________saving.
A）discourage;encourage
B）discourage;discourage
C）encourage;encourage
D）encourage;discourage
Answer:
A
Diff:
2Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
16）Anincreaseininterestratesmight________savingbecausemorecanbeearnedininterestincome.
A）encourage
B）discourage
C）disallow
D）invalidate
Answer:
A
Diff:
2Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
17）Everythingelseheldconstant,anincreaseininterestratesonstudentloans________.
A）mayincreasethecostofeducation
B）mayreducethecostofeducation
C）hasnoeffectoneducationalcosts
D）increasescostsforstudentswithnoloans
Answer:
A
Diff:
2Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
18）Acommonstock________.
A）cannotbepurchasedbyindividuals
B）isalsoknownasadebtsecurity
C）isashareofownershipinacorporation
D）isaclaimonassets
Answer:
C
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
19）Ashareofcommonstockisaclaimonacorporation's________.
A）debt
B）liabilities
C）expenses
D）earningsandassets
Answer:
D
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
20）Lowerinterestratesmightcauseacorporationto________buildinganewplantthatwouldprovidemorejobs.
A）complete
B）postpone
C）consider
D）start
Answer:
C
Diff:
1Type:
MCPageRef:
3
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
21）Bondsofdifferentmaturities________.
A）shownocommonfeatures
B）haveinterestratesthattendtomovetogether
C）haveinterestratesthatcandiffersubstantially
D）BothBandC
Answer:
D
Diff:
1Type:
MCPageRef:
3
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
22）Thestockmarketisimportantbecauseitis________.
A）whereinterestratesaredetermined
B）themostwidelyfollowedfinancialmarketintheCanada
C）whereforeignexchangeratesaredetermined
D）themarketwheremostborrowersgettheirfunds
Answer:
B
Diff:
1Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
23）Stockprices,asmeasuredbytheS&P/TSXCompositeIndex,________.
A）havenotchangedmuchovertime
B）haverisensmoothlyovertime
C）havebeenextremelyvolatileovertime
D）havedeclinedsubstantiallysincetheypeakedinthemid1980s
Answer:
C
Diff:
1Type:
MCPageRef:
4
Skill:
Applied
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
24）Stockpricesare________.
A）relativelystabletrendingupwardatasteadypace
B）relativelystabletrendingdownwardatamoderaterate
C）extremelyvolatile
D）unstabletrendingdownwardatamoderaterate
Answer:
C
Diff:
2Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
25）Changesinstockprices________.
A）donotaffectpeople'swealthandtheirwillingnesstospend
B）affectfirms'decisionstosellstocktofinanceinvestmentspending
C）arepredictable
D）areunimportanttodecisionmakers
Answer:
B
Diff:
2Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
26）A________isanexampleofasecurity,whichisaclaimonfutureincomeor________.
A）bond;interestrate
B）bond;debt
C）stock;assets
D）stock;debt
Answer:
C
Diff:
1Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
27）On________,October19,1987,themarketexperienceditsworstone-daydropinitsentirehistorywiththeS&P/TSXCompositefallingby11percent.
A）"TerribleTuesday"
B）"WoefulWednesday"
C）"FreakyFriday"
D）"BlackMonday"
Answer:
D
Diff:
1Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
28）Fluctuationsinstockprices________.
A）increasedindividuals'willingnesstospend
B）hadnoeffectonindividualspending
C）reducedindividuals'willingnesstospend
D）increasedindividualwealth
Answer:
C
Diff:
1Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolvedinthestudyoffinancialmarkets
29）TheS&P/TSXCompositereachedapeakofover14,000inboth________.
A）2000and2002
B）2002and2005
C）2008and2011
D）2002and2011
Answer:
C
Diff:
1Type:
MCPageRef:
4
Skill:
Recall
ObjectiveList:
1.1Outlinewhatisinvolved
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