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1、PARTTHREEAnswerstoEnd-of-ChapterProblemsChapter1WhyStudyMoney,Banking,andFinancialMarkets?2.ThedatainFigures1,2,3,and4suggestthatrealoutput,theinflationrate,andinterestrateswouldallfail.4.Youmightbemorelikelytobuyahouseoracarbecausethecostoffinancingthemwouldfall,oryoumightbelesslike
2、lytosavebecauseyouearnlessonyoursavings.6.No.Itistruethatpeoplewhoborrowtopurchaseahouseoracarareworseoffbecauseitcoststhemmoretofinancetheirpurchase;however,saversbenefitbecausetheycanearnhigherinterestratesontheirsavings.7.Thebasicactivityofbanksistoacceptdepositsandmakeloans.8.The
3、ychannelfundsfrompeoplewhodonothaveaproductiveuseforthemtopeoplewhodo,therebyresultinginhighereconomicefficiency.9.Theinterestrateonthree-monthTreasurybillsfluctuatesmorethantheotherinterestratesandisloweronaverage.TheinterestrateonBaacorporatebondsishigheronaveragethantheotherintere
4、strates.10.Thelowerpriceforafirm’ssharesmeansthatitcanraiseasmalleramountoffunds,soinvestmentinfacilitiesandequipmentwillfall.11.Higherstockpricesmeansthatconsumers’wealthishigher,andtheywillbemorelikelytoincreasetheirspending.12.Itmakesforeigngoodsmoreexpensive,soBritishconsumerswil
5、lbuyfewerforeigngoodsandmoredomesticgoods.13.ItmakesBritishgoodsmoreexpensiverelativetoAmericangoods.ThusAmericanbusinesseswillfinditeasiertoselltheirgoodsintheUnitedStatesandabroad,andthedemandfortheirproductswillrise.14.Inthemid-tolate1970sandinthelate1980sandearly1990s,thevalueoft
6、hedollarwaslow,makingtravelabroadrelativelymoreexpensive;thusitwasagoodtimetovacationintheUnitedStatesandseetheGrandCanyon.Withtheriseinthedollar’svalueintheearly1980s,travelabroadbecamerelativelycheaper,makingitagoodtimetovisittheTowerofLondon.15.Whenthedollarincreasesinvalue,foreig
7、ngoodsbecomelessexpensiverelativetoAmericangoods;thusyouaremorelikelytobuyFrench-madejeansthanAmerican-madejeans.TheresultingdropindemandforAmerican-madejeansbecauseofthestrongdollarhurtsAmericanjeansmanufacturers.Ontheotherhand,theAmericancompanythatimportsjeansintotheUnitedStatesno
8、wfindsthatth
