Test Bank for The Economics of Money, Banking and Financial Markets 7th Canadian by Mishkin
Product details:
9780134821221, 013482122X
Author: Mishkin
This market-leading text provides the most authoritative, applications-rich coverage of key concepts, models, and issues in money and banking. Frederic Mishkin previously held the post as Executive Vice President and Director of Research at the Federal Reserve Bank of New York. His writing style, latest research, and discussion of policy issues keep his text as the forefront of money and banking. The 7th edition update comprehensively brings the data in the text, figures, tables and boxes up to date through early 2005.
Table contents:
Introduction 1 Chapter 1 Why Study Money, Banking, and Financial Markets? 3 Preview 3 Why Study Financial Markets? 3 The Bond Market and Interest Rates 3 The Stock Market 5 The Foreign Exchange Market 5 Why Study Banking and Financial Institutions? 7 Structure of the Financial System 7 Banks and Other Financial Institutions 8 Financial Innovation 8 Why Study Money and Monetary Policy? 8 Money and Business Cycles 8 Money and Inflation 10 Money and Interest Rates 11 Conduct of Monetary Policy 12 Fiscal Policy and Monetary Policy 12 How We Will Study Money, Banking, and Financial Markets 13 Exploring the Web 14 Collecting and Graphing Data 15 Web Exercises 15 Concluding Remarks 16 Summary 17 Key Terms, Questions and Problems 18 Web Exercises and Web References 19 Appendix to Chapter 1 Defining Aggregate Output, Income, the Price Level, and the Inflation Rate 20 Aggregate Output and Income 20 Real Versus Nominal Magnitudes 20 Aggregate Price Level 21 Growth Rates and the Inflation Rate 22 Chapter 2 An Overview of the Financial System 23 Preview 23 Function of Financial Markets 23 Structure of Financial Markets 25 Debt and Equity Markets 25 Primary and Secondary Markets 26 Exchanges and Over-the-Counter Markets 27 Money and Capital Markets 27 Financial Markets Instruments 28 Money Maker Instruments 28 Following the Financial News Money Market Rates 30 Capital Market Instruments 31 Internationalization of Financial Markets 33 International Bond Market, Eurobonds, and Eurocurrencies 33 World Stock Markets 33 Following the Financial News Foreign Stock Market Indexes 34 Function of Financial Intermediaries 35 Transaction Costs 35 Box 1 Global: The Importance of Financial Intermediaries to Securities Markets: An International Comparison 36 Risk Sharing 36 Asymmetric Information: Adverse Selection and Moral Hazard 37 Types of Financial Intermediaries 39 Depository Institutions 39 Contractual Savings Institutions 40 Investment Intermediaries 42 Regulation of the Financial System 42 Increasing Information Available to Investors 44 Ensuring the Soundness of Financial Intermediaries 44 Financial Regulation Abroad 45 Summary 46 Key Terms, Questions and Problems 47 Web Exercises and Web References 48 Chapter 3 What Is Money? 49 Preview 49 Meaning of Money 49 Functions of Money 50 Medium of Exchange 50 Unit of Account 51 Store of Value 52 Evolution of the Payments System 53 Commodity Money 53 Fiat Money 53 Checks 53 Electronic Payment 54 E-Money 54 Box 1 E-Finance: Why Are Scandinavians So Far Ahead of Americans in Using Electronic Payments? 55 Box 2 E-Finance: Are We Headed for a Cashless Society? 56 Measuring Money 56 The Federal Reserve's Monetary Aggregates 56 Following the Financial News The Monetary Aggregates 58 Box 3 Where Are All the U. S. Dollars? 59 How Reliable Are the Money Data? 59 Summary 61 Key Terms, Questions and Problems 62 Web Exercises and Web References 63 part II Financial Markets 65 Chapter 4 Understanding Interest Rates 67 Preview 67 Measuring Interest Rates 67 Present Value 67 Application Simple Present Value 69 Application How Much Is That Jackpot Worth? 69 Four Types of Credit Market Instruments 70 Yield to Maturity 71 Application Yield to Maturity on a Simple Loan 71 Application Reading the Wall Street Journal: The Bond Page 72 Application Yeild to Maturity and the Yearly Payment on a Fixed-Payment Loan 73 Application Yeild to Maturity and the Bond Price for a Coupon Bond 74 Application Perpetuity 76 Box 1 Global: Negative T-Bill Rates? Japan Shows the Way 78 Yield on a Discount Basis 78 Application Reading the Wall Street Journal: The Bond Page 80 Following the Financial News Bond Prices and Interest Rates 81 The Distinction Between Interest Rates and Returns 82 Box 2 Helping Investors to Select Desired Interest-Rate Risk 85 Maturity and the Volatility of Bond Returns: Interest-Rate Risk 85 The Distinction Between Real and Nominal Interest Rates 87 Application Calculating Real Interest Rates 88 Box 3 With TIPS, Real Interest Rates Have Become Observable in the United States 90 Summary 90 Key Terms, Questions and Problems 91 Web Exercise sand Web References 92 Chapter 5 The Behavior of Interest Rates 93 Preview 93 Determinants of Asset Demand 93 Wealth 94 Expected Returns 94 Risk 95 Liquidity 95 Theory of Asset Demand 95 Supply and Demand in the Bond Market 95 Demand Curve 96 Supply Curve 98 Market Equilibrium 98 Supply and Demand Analysis 99 Changes in Equilibrium Interest Rates 99 Shifts in the Demand for Bonds 100 Shifts in the Supply of Bonds 103 Application Changes in the Interest Rate Due to Expected Inflation: The Fisher
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