Page 1江西财经大学 0910 学年第二学期期末考试参考答案与评分标准试卷代码： 12423C 授课课时：48课程名称： 货币银行学 适用对象：国际学院学生试卷命题人 李静 试卷审核人 王耀德 Part I. This part has 20 Multiple Choice Questions and each one is worth 1 points. The total points for this part are 20 points. Please choose only one answer for each question.1 The Fed can exert more precise control over _ than it can over _. (a) high-powered money; reserves (b) high-powered money; the monetary base (c) the monetary base; high-powered money (d) reserves; high-powered money Answer: AQuestion Status: Previous Edition2 A contract that requires the investor to sell securities on a future date is called a a) short contract. b) long contract. c) hedge. d) micro hedge. Answer: AQuestion Status: Previous Edition3 The fact that depositors cannot distinguish good from bad banks is a(n) a) adverse selection problem. b) moral hazard problem. c) asymmetric information problem. d) too-big-to-fail problem. Answer: CQuestion Status: NewPage 24 Which of the following effects of a change in the money supply is most likely to affect the interest rate differently than the others? a) The expected inflation effect b) The income effect c) The liquidity effect d) The price level effect Answer: CQuestion Status: Previous Edition5 If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8 billion, then the money supply is a) $8000. b) $1200. c) $1200.8. d) $8400. Answer: BQuestion Status: Previous Edition6 A _ in _ increases the money supply since it causes the _ to rise. a) decrease; reserve requirements; monetary base b) rise; reserve requirements; money multiplier c) rise; reserve requirements; monetary base d) decrease; reserve requirements; money multiplier Answer: DQuestion Status: Previous Edition7 A banks balance sheet a) shows that total assets equals total liabilities plus equity capital. b) lists sources and uses of bank funds. c) indicates whether or not the bank is solvent. d) does all of the above. Answer: DQuestion Status: Previous Edition8 A commercial bank is classified as a depository institution because it Page 3a) accepts deposits from individuals and institutions. b) makes loans. c) it is responsible for the conduct of monetary policy. d) does both (a) and (b) of the aboveAnswer: DQuestion Status: Previous Edition9 A bank holding insufficient reserves can meet its reserve requirements by a) borrowing federal funds. b) borrowing from other banks. c) selling secondary reserves. d) all of the above. Answer: DQuestion Status: New10 decrease in wealth a) increases the demand for stocks. b) increases the demand for bonds. c) has no effect on bond demand. d) reduces the demand for housing. Answer: DQuestion Status: New11 The goals of monetary policy include a) output stability. b) stability in the foreign exchange markets. c) maintenance of the gold standard. d) all of the above. Answer: BQuestion Status: New12 Bonds with relatively low risk of default are called _ securities and have a rating of Baa (or BBB) and above; bonds with ratings below Baa (or BBB) have a higher default risk and are called _.(a) investment grade; lower gradePage 4(b) investment grade; junk bonds(c) high quality; lower grade(d) high quality; junk bondsAnswer: BQuestion Status: Previous Edition13 Which of the following is not one of the eight basic puzzles about financial structure? a) Debt contracts are typically extremely complicated legal documents that place substantial restrictions on the behavior of the borrower. b) Indirect finance, which involves the activities of financial intermediaries, is many times more important than direct finance, in which businesses raise funds directly from lenders in financial markets. c) Collateral is a prevalent feature of debt contracts for both households and business. d) New security issues are the most important source of external funds to finance businesses. Answer: DQuestion Status: Previous Edition14 If it is generally acceptable as a medium of exchange then it a) must be a commodity. b) must be a precious metal such as gold or silver. c) is money. d) all of the above. Answer: CQuestion Status: Previous Edition15 Dividends are paid from a) liabilities. b) debts. c) net earnings. d) both (a) and (b) of the above. Answer: CQuestion Status: New16 As the price of a bond _ and the expected return _, bonds become more attractive to investors and the quantity demanded rises. Page 5a) falls; rises b) falls; falls c) rises; rises d) rises; falls Answer: AQuestion Status: Previous Edition17 A security that pays $52.50 in one year and $110.25 in two years, with an interest rate of 5 percent, has a present value of a) $150. b) $162.50. c) $200. d) $300. Answer: AQuestion Status: Study Guide18 The price of one countrys currency in