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미쉬킨 화폐와 금융 9판 피어슨,mishkin 9th solution

PART THREE Answers to End-of-Chapter Problems

Chapter 1

Why Study Money, Banking, and Financial Markets?

Chapter 2

An Overview of the Financial System

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Chapter 1

Why Study Money, Banking, and Financial Markets?

2. The data in Figures 1, 2, 3, and 4 suggest that real output, the inflation rate, and interest rates would

all fail.

4. You might be more likely to buy a house or a car because the cost of financing them would fall, or

you might be less likely to save because you earn less on your savings.

6. No. It is true that people who borrow to purchase a house or a car are worse off because it costs them

more to finance their purchase; however, savers benefit because they can earn higher interest rates on

their savings.

7. The basic activity of banks is to accept deposits and make loans.

8. They channel funds from people who do not have a productive use for them to people who do,

thereby resulting in higher economic efficiency.

9. The interest rate on three-month Treasury bills fluctuates more than the other interest rates and is

lower on average. The interest rate on Baa corporate bonds is higher on average than the other

interest rates.

10. The lower price for a firm’s shares means that it can raise a smaller amount of funds, so investment in

facilities and equipment will fall.

11. Higher stock prices means that consumers’ wealth is higher, and they will be more likely to increase

their spending.

12. It makes foreign goods more expensive, so British consumers will buy fewer foreign goods and more

domestic goods.

[문서정보]

문서분량 : 58 Page

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