11. The federal funds rate is the interest rate ______.
A. on overnight loans of reserves between banks
B. the government pays when borrowing from banks
C. on government debt
D. both A and B
12. A consumer's indifference curve shows ______.
A. all combinations of two products that a consumer can use
B. all combinations of two products that yield the same total satisfaction to the consumer
C. all combinations of two goods that the consumer can purchase with disposable persona income
D. equal income for consumption
13. The value of any investment is found by computing ______.
A. the future value of all future expenses
B. the future value of all sales
C. the present value of all future liabilities
D. the present value of all cash flows
14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it .
A. always consists of central-bank liabilities
B. always consists of assets that can serve as commercial bank cash reserves
C. always consists of gold coin
D. must be a "fiat" money
15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates.
A. chronological
B. term
C. risk
D. liquidity
16. An example of an investment pool is ______.
A. a savings and loan association
B. a life insurance company
C. a finance company
D. a mutual fund
17. Sustained downward movements in the business cycle are referred to as ______.
A. recessions
B. economic recoveries
C. inflation
D. expansions
18. _____ offers a wide spectrum of personal services to wealthy clients who may have little knowledge of how to handle their own financial affairs or who are too busy.
A. A private bank
B. Private banking
C. Personal banking
D. Retail banking
19. Which of the following can be described as involving direct finance? ______.
A. A pension fund manager buys a short-term corporate security in the secondary market
B. People buy shares in a mutual fund
C. A corporation issues new shares of stock
D. An insurance company buys shares of common stock in the over-the-counter markets.
20. A call option gives the owner the right to ______.
A. sell the underlying asset at a fixed price
B. buy the underlying asset at a fixed price
C. convert the underlying asset at a fixed price
D. take delivery of the underlying asset at a fixed price
责任编辑：mman
