超星 - An economic analysis of financial structure

单选题

Debt contracts

A. are agreements by the borrowers to pay the lenders fixed dollar amounts at periodic intervals.
B. have a higher cost of state verification than equity contracts.
C. are used less frequently to raise capital than are equity contracts.
D. never result in a loss for the lender.

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单选题

WhichofthefollowingstatementsconcerningexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStatesaretrue?

A. Bondsareafarmoreimportantsourceoffinancethanarestocks.
B. Stocksandbonds,combined,supplymorethanone-halfoftheexternalfunds.
C. Financialintermediariessuchasbanksarearelativelyunimportantsourceofexternalfunds.
D. Only(a)and(b)oftheabove.

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单选题

WhichofthefollowingstatementsconcerningexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStatesaretrue?

A. Financialintermediariessuchasbanksarethemostimportantsourceofexternalfunds.
Bondsareafarmoreimportantsourceoffinancethanarestocks.
C. Stocksandbonds,combined,supplylessthanone-fifthoftheexternalfunds.
D. Only(a)and(b)oftheabove.

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单选题

Aborrowerwhotakesoutaloanusuallyhasbetterinformationaboutthepotentialreturnsandriskoftheinvestmentprojectsheplanstoundertakethandoesthelender.Thisinequalityofinformationiscalled

A. moralhazard.
B. asymmetricinformation.
C. noncollateralizedrisk.
D. adverseselection.

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单选题

Ifbadcreditrisksaretheoneswhomostactivelyseekloansand,therefore,receivethemfromfinancialintermediaries,thenfinancialintermediariesfacetheproblemof

A. moralhazard.
B. adverseselection.
C. free-riding.
D. costlystateverification.

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单选题

Theproblemcreatedbyasymmetricinformationbeforethetransactionoccursiscalled_,whiletheproblemcreatedafterthetransactionoccursiscalled_.

A. adverseselection;moralhazard
B. moralhazard;adverseselection
C. costlystateverification;free-riding
D. free-riding;costlystateverification

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单选题

Someoftheproblemsthatcausefinancialrepressionindevelopingandtransitioneconomiesinclude

A. poorlegalsystems.
B. strongaccountingstandards.
C. privateownershipofbanks.
D. excessivegovernmentregulation.

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单选题

Financialcrises

A. aremajordisruptionsinfinancialmarketsthatarecharacterizedbysharpdeclinesinassetpricesandthefailuresofmanyfinancialandnonfinancialfirms.
B. occurwhenadverseselectionandmoralhazardproblemsinfinancialmarketsbecomemoresignificant.
C. frequentlyleadtosharpcontractionsineconomicactivity.
D. alloftheabove.

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单选题

Solutionstothemoralhazardprobleminclude

A. highnetworth.
B. monitoringandenforcementofrestrictivecovenants.
C. greaterrelianceondebtcontractsandlessonequitycontracts.
D. alloftheabove.

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单选题

Onewayofdescribingthesolutionthathighnetworthprovidestothemoralhazardproblemistosaythatit

A. collateralizesthedebtcontract.
B. makesthedebtcontractincentivecompatible.
C. stateverifiesthedebtcontract.
D. doesnoneoftheabove.

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Debt contracts

WhichofthefollowingstatementsconcerningexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStatesaretrue?

WhichofthefollowingstatementsconcerningexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStatesaretrue?

Aborrowerwhotakesoutaloanusuallyhasbetterinformationaboutthepotentialreturnsandriskoftheinvestmentprojectsheplanstoundertakethandoesthelender.Thisinequalityofinformationiscalled

Ifbadcreditrisksaretheoneswhomostactivelyseekloansand,therefore,receivethemfromfinancialintermediaries,thenfinancialintermediariesfacetheproblemof

Theproblemcreatedbyasymmetricinformationbeforethetransactionoccursiscalled_____,whiletheproblemcreatedafterthetransactionoccursiscalled_____.

Someoftheproblemsthatcausefinancialrepressionindevelopingandtransitioneconomiesinclude

Financialcrises

Solutionstothemoralhazardprobleminclude

Onewayofdescribingthesolutionthathighnetworthprovidestothemoralhazardproblemistosaythatit

Theproblemcreatedbyasymmetricinformationbeforethetransactionoccursiscalled_,whiletheproblemcreatedafterthetransactionoccursiscalled_.