1、 D2) Financial markets have the basic function ofA) bringing together people with funds to lend and people who want to borrow funds.B) assuring that the swings in the business cycle are less pronounced.C) assuring that governments need never resort to printing money.D) both A and B of the above.E) b
2、oth B and C of the above. A3) Which of the following can be described as involving direct finance?A) A corporations stock is traded in an over-the-counter market.B) People buy shares in a mutual fund.C) A pension fund manager buys commercial paper in the secondary market.D) An insurance company buys
3、 shares of common stock in the over-the-counter markets.E) None of the above. E4) Which of the following can be described as involving direct finance?B) A corporation buys commercial paper issued by another corporation.C) A pension fund manager buys commercial paper from the issuing corporation.D) B
4、oth A and B of the above.E) Both B and C of the above. B5) Which of the following can be described as involving indirect finance?A) A corporation takes out loans from a bank.C) A corporation buys commercial paper in a secondary market.D) All of the above.E) Only A and B of the above.6) Which of the
5、following can be described as involving indirect finance?A) A bank buys a U.S. Treasury bill from one of its depositors.C) A pension fund manager buys commercial paper in the primary market.D) Both A and C of the above.7) Financial markets improve economic welfare becauseA) they allow funds to move
6、from those without productive investment opportunities to those who have such opportunities.B) they allow consumers to time their purchases better.C) they weed out inefficient firms.D) they do all of the above.E) they do A and B of the above.8) A country whose financial markets function poorly is li
7、kely toA) efficiently allocate its capital resources.B) enjoy high productivity.C) experience economic hardship and financial crises.D) increase its standard of living. C9) Which of the following are securities?A) A certificate of depositB) A share of Texaco common stockC) A Treasury billD) All of t
8、he aboveE) Only A and B of the above10) Which of the following statements about the characteristics of debt and equity are true?A) They both can be long-term financial instruments.B) They both involve a claim on the issuers income.C) They both enable a corporation to raise funds.11) The money market
9、 is the market in which _ are traded.A) new issues of securitiesB) previously issued securitiesC) short-term debt instrumentsD) long-term debt and equity instruments12) Long-term debt and equity instruments are traded in the _ market.A) primaryB) secondaryC) capitalD) money13) Which of the following
10、 are primary markets?A) The New York Stock ExchangeB) The U.S. government bond marketC) The over-the-counter stock marketD) The options marketsE) None of the above14) Which of the following are secondary markets?E) All of the above15) A corporation acquires new funds only when its securities are sol
11、d in theA) secondary market by an investment bank.B) primary market by an investment bank.C) secondary market by a stock exchange broker.D) secondary market by a commercial bank.16) Intermediaries who are agents of investors and match buyers with sellers of securities are calledA) investment bankers
12、.B) traders.C) brokers.D) dealers.E) none of the above.17) Intermediaries who link buyers and sellers by buying and selling securities at stated prices are called18) An important financial institution that assists in the initial sale of securities in the primary market is theA) investment bank.B) commercial bank.C) stock exchange.D) brokerage house.19) Which of the following statements about financial markets and securities are true?A) Most common st
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