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《货币金融学》米什金版本课后习题答案1-11章PDF资料
考试点专业课:英文货币金融学米什金版本课后习题答案集锦
PARTTHREE Answers End-of-ChapterProblems Chapter WhyStudy Money, Banking, FinancialMarkets? realoutput, inflationrate, interestrates would all fail. Youmight morelikely carbecause financingthem would fall, youmight lesslikely savebecause you earn less yoursavings. peoplewho borrow worseoff because coststhem more purchase;however, savers benefit because canearn higher interest rates basicactivity acceptdeposits makeloans. channelfunds from people who do productiveuse peoplewho do, thereby resulting highereconomic efficiency. interestrate three-monthTreasury bills fluctuates more than otherinterest rates interestrate Baacorporate bonds averagethan otherinterest rates. 10. lowerprice firm’sshares means canraise smalleramount funds,so investment fall.11. Higher stock prices means consumers’wealth morelikely spending.12. makesforeign goods more expensive, so British consumers buyfewer foreign goods moredomestic goods. 13. makesBritish goods more expensive relative Americangoods. Thus American businesses UnitedStates rise.14. late1970s late1980s early1990s, low,making travel abroad relatively more expensive; thus goodtime UnitedStates GrandCanyon. dollar’svalue early1980s, travel abroad became relatively cheaper, making goodtime London.15. When dollarincreases value,foreign goods become less expensive relative Americangoods; thus you morelikely buyFrench-made jeans than American-made jeans. resultingdrop American-madejeans because strongdollar hurts American jeans manufacturers. otherhand, Americancompany importsjeans UnitedStates now finds itsproduct has risen, so betteroff when strong.55 56 Mishkin Money,Banking, FinancialMarkets, Ninth Edition Chapter FinancialSystem Microsoftstock itsowner, because Microsoft,because itsearnings shouldtake out loan,because betteroff doingso. My interest payment $4,500(90% additional$10,000, so $5,500.Since Larry’s loan-sharking business can make some people better off, example,loan sharking may have social benefits. (One argument against legalizing loan sharking, however, violentactivity.) Yes,because financialmarkets means fundscannot peoplewho have mostproductive use them.Entrepreneurs cannotacquire funds setup businesses wouldhelp economygrow rapidly. principaldebt instruments used were foreign bonds which were sold Britishgained because wereable earnhigher interest rates Americans,while Americansgain
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