萨尔瓦多国际经济学习题QuizAll.docx
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萨尔瓦多国际经济学习题QuizAll
萨尔瓦多国际经济学
同步习题
Chapter13:
TheBalanceofPayments
Multiple-choiceQuestions:
1.Whichofthefollowingisfalse?
A.Acredittransactionleadstoapaymentfromforeigners
B.Adebittransactionleadstoapaymenttoforeigners
*C.Acredittransactionisenteredwithanegativesign
D.Double-entrybookkeepingreferstoeachtransactionenteredtwice.
2.Whichofthefollowingisadebit?
A.Theexportofgoods
B.Theexportofservices
*C.Unilateraltransfersgiventoforeigners
D.Capitalinflows
3.Capitalinflows:
A.refertoanincreaseinforeignassetsinthenation
B.refertoareductioninthenation'sassetsabroad
C.leadtoapaymentfromforeigners
*D.alloftheabove
4.WhenaU.S.firmimportsgoodstobepaidinthreemonthstheU.S.credits:
A.thecurrentaccount
B.unilateraltransfers
*C.capital
D.officialreserves
5.ThereceiptofaninterestpaymentonaloanmadebyaU.S.commercialbanktoaforeignresidentisenteredintheU.S.balanceofpaymentsasa:
A.creditinthecapitalaccount
*B.creditinthecurrentaccount
C.creditinofficialreserves
D.debitinunilateraltransfers
6.ThepaymentofadividendbyanAmericancompanytoaforeignstockholderrepresents:
A.adebitintheU.S.capitalaccount
B.acreditintheU.S.capitalaccount
C.acreditintheU.S.officialreserveaccount
*D.adebitintheU.S.currentaccount
7.WhenaU.S.firmimportsagoodfromEnglandapaysforitbydrawingonitspound
sterlingbalancesinaLondonBank,theU.S.debitsitscurrentaccountandcreditsits:
A.officialreserveaccount
B.unilateraltransfersaccount
C.servicesinitscurrentaccount
*D.capitalaccount
8.WhentheU.S.shipsfoodaidtoadevelopingnation,theU.S.debits:
*A.unilateraltransfers
B.services
C.capital
D.officialreserves
9.Whentheresidentofaforeignnation
(1)sellsaU.S.stockand
(2)depositstheproceedsinaU.S.bank,theU.S.:
A.creditscapitalfor
(1)anddebitscapitalfor
(2)
B.creditsthecurrentaccountanddebitscapital
C.debitscapitalandcreditsofficialreserves
*D.debitscapitalfor
(1)andcreditscapitalfor
(2)
10.WhenaU.S.resident
(1)purchasesforeigntreasurybillsandpaysby
(2)drawingdownhisbankbalancesabroad,theU.S.:
A.debitsshort-termcapitalandcreditsofficialreserves
*B.debitscapitalfor
(1)andcreditscapitalfor
(2)
C.debitsofficialreservesandcreditscapital
D.creditsshort-termcapitalanddebitsofficialreserves
11.FromtheU.S.pointofview,drawingon(reducing)foreignbankbalancesinaNewYorkbankrepresentsa:
A.capitalinflow
*B.capitaloutflow
C.outflowofofficialreserves
D.debitinthecurrentaccount
12.WhichisnotanofficialreserveassetoftheU.S.?
A.U.S.holdingsofSpecialDrawingRights
B.TheU.S.reservepositionintheInternationalMonetaryFund
*C.ForeignofficialholdingsofU.S.dollars
D.OfficialholdingsofforeigncurrenciesbyU.S.monetaryauthorities
13.ThecapitalaccountoftheU.S.includes:
A.thechangeinU.S.assetsabroadandforeignassetsintheU.S.
*B.thechangeinU.S.assetsabroadandforeignassetsintheU.S.,otherthanofficialreserveassets
C.allfinancialassets
D.allbutcurrentaccounttransactions
14.Accommodatingitemsare:
A.transactionsinofficialreserveassets
B.theitemsbelowtheline
C.neededtobalanceinternationaltransactions
*D.alloftheabove
15.Whichofthefollowingisfalse?
*A.anetdebitbalanceinthecurrentandcapitalaccountsmeasuresthesurplusinthenation'sbalanceofpayments
B.abalanceofpaymentsdeficitmustbesettledbyanetcreditintheofficialreserveaccount
C.adeficitinthebalanceofpaymentscanbemeasuredbytheexcessofcreditsoverdebitsintheofficialreserveaccount
D.anetdebitbalanceintheofficialreserveaccountreferstoasurplus
思考题:
以2009年中美两国国际收支平衡表为例,分析两国国际经济交易呈现出哪些不同特征?
战后美国出现大的贸易失衡,其原因和影响是什么?
中国的外汇储备量世界第一,其原因是?
有何利弊?
Chapter14:
ForeignExchangeMarketsandExchangeRates
Multiple-choiceQuestions:
1.Whichisnotafunctionoftheforeignexchangemarket?
A.totransferfundsfromonenationtoanother
B.tofinancetrade
*C.todiversifyrisks
D.toprovidethefacilitiesforhedging
2.Anincreaseinthepoundpriceofthedollarrepresents:
*A.anappreciationofthedollar
B.adepreciationofthedollar
C.anappreciationofthepound
D.adevaluationofthedollar
3.Achangefrom$1=€1to$2=€1represents
*A.depreciationofthedollar
B.anappreciationofthedollar
C.adepreciationofthepound
D.noneoftheabove
4.Ashortageofpoundsunderaflexibleexchangeratesystemresultsin:
A.adepreciationofthepound
*B.adepreciationofthedollar
C.anappreciationofthedollar
D.nochangeintheexchangerate
5.Aneffectiveexchangerateisa:
A.spotrate
B.forwardrate
C.flexibleexchangerates
*D.weightedaverageoftheexchangeratesbetweenthedomesticcurrencyandthenation'smostimportanttradepartners
6.Theexchangerateiskeptwithinnarrowlimitsindifferentmonetarycentersby:
A.hedging
*B.exchangearbitrage
C.interestarbitrage
D.speculation
7.IfSR=$1/€1andthethree-monthFR=$0.99/€1:
*A.theeuroisatathree-monthforwarddiscountof1%
B.theeuroisataforwarddiscountof1%peryear
C.theeuroisatathree-monthforwardpremiumof1%
D.thedollarisatathree-monthforwarddiscountof1%
8.Hedgingrefersto:
A.theacceptanceofaforeignexchangerisk
*B.thecoveringofaforeignexchangerisk
C.foreignexchangespeculation
D.foreignexchangearbitrage
9.AU.S.importerscheduledtomakeapaymentof€100,000inthreemonthscanhedge
hisforeignexchangeriskby:
A.purchasing$100,000intheforwardmarketfordeliveryinthreemonths
B.selling€100,000inthespotmarketfordeliveryinthreemonths
*C.purchasing€100,000intheforwardmarketfordeliveryinthreemonths
D.selling€100,000inthespotmarketfordeliveryinthreemonths
10.Ifthethree-monthFR=$1/€1andaspeculatoranticipatesthatSR=$1.02/€1inthree
months,hecanearnaprofitby:
A.sellingeurosforward
*B.purchasingeurosforward
C.sellingdollarsforward
D.purchasingdollarsforward
11.Destabilizingspeculationreferstothe:
*A.saleoftheforeigncurrencywhentheexchangeratefallsorislow
B.purchaseoftheforeigncurrencywhentheexchangeratefallsorislow
C.saleoftheforeigncurrencywhentheexchangeraterisesorishigh
D.alloftheabove
12.AcapitaloutflowfromNewYorktoFrankfurtundercoveredinterestarbitragecantakeplaceiftheinterestdifferentialinfavorofFrankfurtis:
A.smallerthantheforwarddiscountontheeuro
B.equaltotheforwarddiscountontheeuro
*C.largerthantheforwarddiscountontheeuro
D.noneoftheabove.
13.Accordingtothetheoryofcoveredinterestarbitrage,iftheinterestdifferentialinfavoroftheforeigncountryexceedstheforwarddiscountontheforeigncurrency,therewillbea:
A.capitalinflowundercoveredinterestarbitrage
*B.capitaloutflowundercoveredinterestarbitrage
C.nocapitalflowunderacoveredinterestarbitrage
D.anyoftheabove
14.Whentheinterestdifferentialinfavoroftheforeigncountryisequaltotheforward
premiumontheforeigncurrency,we:
A.areatcoveredinterestarbitrageparity
*B.arenotatcoveredinterestarbitrageparity
C.mayormaynotbeatcoveredinterestarbitrageparity
D.wecannotsaywithoutadditionalinformation
15.Thecurrencyofthenationwiththelowerinterestrateisusuallyata
*A.forwardpremium
B.forwarddiscount
C.coveredinterestarbitrageparity
D.anyoftheabove
思考题:
1.我国外汇市场与美国等发达国家的外汇市场相比有什么不同?
为什么?
2.为什么在浮动汇率之下国际收支逆差或顺差的测度并不是十分适当的?
3.如何看待以美国为首的国家要求人民币升值问题?
4.如何看待人民币国际化的前景?
Chapter15:
ExchangeRateDetermination
Multiple-choiceQuestions:
1.WhichiscorrectwithrespecttotheabsolutePPPtheory?
A.Itpostulatesthattheexchangeratebetweentwocurrenciesisequaltotheratioofthepricelevelsinthetwonations
B.itdoesnottakeintoconsiderationtransportationcostsorotherobstructionstotheflowofinternationaltrade
C.canbeverymisleading
*D.alloftheabove
2.Therelativepurchasingpower-paritytheorypostulatesthat:
A.Theequilibriumexchangerateisequaltotheratioofthepricelevelinthetwonations
*B.thechangeintheexchangerateoveraperiodoftimeshouldbeproportionaltotherelativechangeinthepricelevelinthetwonationsoverthesametimeperiod
C.thechangeintheexchangerateoveraperiodoftimeshouldbeproportionaltotheabsolutechangeinthepricelevelinthetwonationsoverthesametimeperiod
D.theexchangerateataperiodoftimeshouldbeproportionaltotherelativepricesinthetwonations
3.TherelativePPPtheorygivesbetterresults:
*A.inthelongrunthanintheshortrun
B.whenstructuralchangestakeplace
C.thegreateristhelevelofcommodityaggregation
D.intestsincludingdevelopedanddevelopingcountries
4.Themonetaryapproachtothebalanceofpayments:
A.viewsthebalanceofpaymentsasanessentiallymonetaryphenomenon
B.restsonthepurchasingpower-paritytheory
C.postulatesthatmoneyplaysthecrucialroleinthelongrunbothasadisturbanceandadjustmentinthenation'sbalanceofpayments
*D.alloftheabove
5.Ifanation'smoneyGDPis100andthevelocityofcirculationofmoneyis4,thequantitydemandedofmoneyinthenationis:
A.20
*B.25
C.50
D.100
6.Themonetarybaseofthenationreferstothe:
A.domesticcreditcreatedbythenation'smonetaryauthoritiesorthedomesticassetsbackingof
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