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米什金货币金融学英文版习题答案chapter6英文习题
EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)Chapter6TheRiskandTermStructureofInterestRates
6.1RiskStructureofInterestRates
1)Theriskstructureofinterestratesis
A)thestructureofhowinterestratesmoveovertime.
B)therelationshipamonginterestratesofdifferentbondswiththesamematurity.
C)therelationshipamongthetermtomaturityofdifferentbonds.
D)therelationshipamonginterestratesonbondswithdifferentmaturities.
Answer:B
AACSB:ReflectiveThinking
2)Theriskthatinterestpaymentswillnotbemade,orthatthefacevalueofabondisnotrepaidwhenabondmaturesis
A)interestraterisk.
B)inflationrisk.
C)liquidityrisk.
D)defaultrisk.
Answer:D
AACSB:ApplicationofKnowledge
3)Bondswithnodefaultriskarecalled
A)flowerbonds.
B)no-riskbonds.
C)default-freebonds.
D)zero-riskbonds.
Answer:C
AACSB:ApplicationofKnowledge
4)Whichofthefollowingbondsareconsideredtobedefault-riskfree?
A)municipalbonds
B)investment-gradebonds
C)U.S.Treasurybonds
D)junkbonds
Answer:C
AACSB:AnalyticalThinking
5)U.S.governmentbondshavenodefaultriskbecause
A)theyareissuedinstrictlylimitedquantities.
B)thefederalgovernmentcanincreasetaxesorprintmoneytopayitsobligations.
C)theyarebackedwithgoldreserves.
D)theycanbeexchangedforsilveratanytime.
Answer:B
AACSB:ReflectiveThinking
6)Thespreadbetweentheinterestratesonbondswithdefaultriskanddefault-freebondsiscalledthe
A)riskpremium.
B)junkmargin.
C)bondmargin.
D)defaultpremium.
Answer:A
AACSB:ApplicationofKnowledge
7)Iftheprobabilityofabonddefaultincreasesbecausecorporationsbegintosufferlargelosses,thenthedefaultriskoncorporatebondswill________andtheexpectedreturnonthesebondswill________,everythingelseheldconstant.
A)decrease;increase
B)decrease;decrease
C)increase;increase
D)
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