国际金融FinanceTestBank6剖析Word文档格式.docx
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国际金融FinanceTestBank6剖析Word文档格式.docx
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2.Aweakdollarisnormallyexpectedtocause:
highunemploymentandhighinflationintheU.S.
highunemploymentandlowinflationintheU.S.
lowunemploymentandlowinflationintheU.S.
lowunemploymentandhighinflationintheU.S.
DPTS:
3.Astrongdollarisnormallyexpectedtocause:
BPTS:
4.ToforcethevalueoftheBritishpoundtodepreciateagainstthedollar,theFederalReserveshould:
selldollarsforpoundsintheforeignexchangemarketandtheBankofEnglandshouldselldollarsforpoundsintheforeignexchangemarket.
sellpoundsfordollarsintheforeignexchangemarketandtheBankofEnglandshouldselldollarsforpoundsintheforeignexchangemarket.
sellpoundsfordollarsintheforeignexchangemarketandtheBankofEnglandshouldsellpoundsfordollarsintheforeignexchangemarket.
selldollarsforpoundsintheforeignexchangemarketandtheBankofEnglandshouldsellpoundsfordollarsintheforeignexchangemarket.
CPTS:
5.Considertwocountriesthattradewitheachother,calledXandY.Accordingtothetext,inflationinCountryXwillhaveagreaterimpactoninflationinCountryYunderthe____system.Now,considertwoothercountriesthattradewitheachother,calledAandB.UnemploymentinCountryAwillhaveagreaterimpactonunemploymentinCountryBunderthe____system.
floatingrate;
fixedrate
floatingrate
fixedrate;
6.AprimaryresultoftheBrettonWoodsAgreementwas:
theestablishmentoftheEuropeanMonetarySystem(EMS).
establishingspecificrulesforwhentariffsandquotascouldbeimposedbygovernments.
establishingthatexchangeratesofmostmajorcurrenciesweretobeallowedtofluctuate1%aboveorbelowtheirinitiallysetvalues.
establishingthatexchangeratesofmostmajorcurrenciesweretobeallowedtofluctuatefreelywithoutboundaries(althoughthecentralbanksdidhavetherighttointervenewhennecessary).
7.AprimaryresultoftheSmithsonianAgreementwas:
establishingthatexchangeratesofmostmajorcountriesweretobeallowedtofluctuate2.25%aboveorbelowtheirinitiallysetvalues.
8.Underafixedexchangeratesystem:
aforeignexchangemarketdoesnotexist.
centralbankinterventionintheforeignexchangemarketisnotnecessary.
centralbankinterventionintheforeignexchangemarketisoftennecessary.
centralbankinterventionintheforeignexchangemarketisnotallowed.
9.Underamanagedfloatexchangeratesystem,theFedmayattempttostimulatetheU.S.economyby____thedollar.Suchanadjustmentinthedollar'
svalueshould____theU.S.demandforproductsproducedbymajorforeigncountries.
weakening;
increase
decrease
strengthening;
10.ThevalueoftheCanadiandollar,Japaneseyen,andAustraliandollarwithrespecttotheU.S.dollararepartofa:
peggedsystem.
fixedsystem.
managedfloatsystem.
crawlingpegsystem.
11.Theinterestrateofacountrywithacurrencyboard:
islessstablethanitwouldbewithoutacurrencyboard.
istypicallybelowtheinterestrateofthecurrencytowhichitistied.
willmoveintandemwiththeinterestrateofthecurrencytowhichitistied.
iscompletelyindependentoftheinterestrateofthecurrencytowhichitistied.
12.ThecurrencyofCountryXispeggedtothecurrencyofCountryY.AssumethatCountryY'
scurrencydepreciatesagainstthecurrencyofCountryZ.ItislikelythatCountryXwillexport____toCountryZandimport____fromCountryZ.
more;
more
less;
less
13.AssumeCountriesA,B,andCproducegoodsthataresubstitutesofeachotherandthatthesecountriesengageintradewitheachother.AssumethatCountryA'
scurrencyfloatsagainstCountryB'
scurrency,andthatCountryC'
scurrencyispeggedtoB'
s.IfA'
scurrencydepreciatesagainstB,thenA'
sexportstoCshould____,andA'
simportsfromCshould____.
decrease;
increase;
14.Assumeacentralbankexchangesitscurrencyforotherforeigncurrenciesintheforeignexchangemarket,butdoesnotadjustfortheresultingchangeinthemoneysupply.Thisisanexampleof:
peggedintervention.
indirectintervention.
nonsterilizedintervention.
sterilizedintervention.
e.
AandD
15.IftheFeddesirestoweakenthedollarwithoutaffectingthedollarmoneysupply,itshould:
exchangedollarsforforeigncurrencies,andsellsomeofitsexistingTreasurysecurityholdingsfordollars.
exchangeforeigncurrenciesfordollars,andsellsomeofitsexistingTreasurysecurityholdingsfordollars.
exchangedollarsforforeigncurrencies,andbuyexistingTreasurysecuritieswithdollars.
exchangeforeigncurrenciesfordollars,andbuyexistingTreasurysecuritieswithdollars.
16.Whichofthefollowingisanexampleofdirectinterventioninforeignexchangemarkets?
loweringinterestrates.
increasingtheinflationrate.
exchangingdollarsforforeigncurrency.
imposingbarriersoninternationaltrade.
17.Astrongdollarplaces____pressureoninflation,whichinturnplaces____pressureonthedollar.
upward;
upward
downward;
downward
18.TheFedmayuseastimulativemonetarypolicywithleastconcernaboutcausinginflationifthedollar'
svalueisexpectedto:
remainstable.
strengthen.
weaken.
noneoftheabovewillhaveanimpactoninflation.
19.Aweakerdollarplaces____pressureonU.S.inflation,whichinturnplaces____pressureonU.S.interestrates,whichplaces____pressureonU.S.bondprices.
downward;
upward;
20.Theeuroisthecurrency:
adoptedinallwesternEuropeancountriesasof1999.
adoptedinalleasternEuropeancountriesasof1999.
adoptedinallEuropeancountriesasof1999.
noneoftheabove
21.Theeurohasnotbeenadoptedby:
Slovenia.
theU.K.
Germany.
France.
22.Theexchangeratemechanism(ERM)referstothemethodoflinking____currenciestoeachotherwithinboundaries.
LatinAmerican
European
Asian
NorthAmerican
23.Countriesthathaveadoptedtheeuromustagreeonasingle____policy.
monetary
fiscal
workercompensation
foreignrelations
24.Countriesthathaveadoptedtheeurotendtohaveverysimilar____.
interestrates
inflationrates
incometaxrates
budgetdeficits
25.Therisk-freeinterestratesamongcountriesthathaveadoptedtheeuroshould:
notnecessarilybesimilartorisk-freeratesinothercountries.
equaltheU.S.risk-freerate.
equaltherisk-freeratesinotherEuropeancountries.
equaltherisk-freeratesinAsiancountries.
26.Whichofthefollowingistrueregardingtheeuro?
ExchangerateriskbetweenparticipatingEuropeancurrenciesiscompletelyeliminated,encouragingmoretradeandcapitalflowsacrossEuropeanborders.
Itallowsformoreconsistenteconomicconditionsacrosscountries.
Itpreventseachcountryfromconductingitsownmonetarypolicy.
Alloftheabovearetrue.
27.Ithasbeenarguedthattheexchangeratecanbeusedasapolicytool.AssumethattheU.S.governmentwouldliketoreduceunemployment.Whichofthefollowingisanappropriateactiongiventhisscenario?
Weakenthedollar
Strengthenthedollar
Buydollarswithforeigncurrencyintheforeignexchangemarket
Implementatightmonetarypolicy
28.Ithasbeenarguedthattheexchange
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