Test bank International Finance MCQ wordChap 4.docx
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Test bank International Finance MCQ wordChap 4.docx
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TestbankInternationalFinanceMCQwordChap4
FundamentalsofMultinationalFinance,3e(Moffett)
Chapter4
TheBalanceofPayments
4.1
MultipleChoiceandTrue/FalseQuestions
1)
Thebalanceofpaymentsasappliedtoacourseininternationalfinancemaybedefinedas
A)
theamountstillowedbyanexportingfirmaftermakinganinitialdownpayment.
B)
theamountstillowedbygovernmentstotheInternationalMonetaryFund.
C)
themeasurementofallinternationaleconomictransactionsbetweentheresidentsofacountryandforeignresidents.
D)
theamountofacountry'smerchandisetradedeficitorsurplus.
Answer:
C
Topic:
BOPIntroduction
Skill:
Conceptual
2)
Balanceofpayment(BOP)datamaybeimportantforanyofthefollowingreasons:
A)
BOPdatahelpstoforecastacountry'smarketpotential,especiallyintheshortrun.
B)
TheBOPisanimportantindicatorofacountry'sforeignexchangerate.
C)
Changesinacountry'sBOPmaysignalachangeincontrolsoverpaymentofdividendsandinterest.
D)
Alloftheabove.
Answer:
D
Topic:
BOPIntroduction
Skill:
Conceptual
3)
AcountryexperiencingaseriousBOP________ismorelikelyto________exportsthanotherwise.
A)
surplus;contract
B)
deficit;contract
C)
deficit;expand
D)
noneoftheabove
Answer:
A
Topic:
BOPUnderstanding
Skill:
Analytical
4)
WhichofthefollowingwouldNOTbeconsideredatypicalBOPtransaction?
A)
ToyotaU.S.A.isaU.S.distributorofautomobilesmanufacturedinJapanbyitsparentcompany.
B)
TheU.S.subsidiaryofEuropeanfinancialgiant,CreditSuisse,paysdividendstoitsparentinZurich.
C)
AU.S.touristpurchasesgiftsatamuseuminLondon.
D)
AllareexampleofBOPtransactions.
Answer:
D
Topic:
BOPUnderstanding
Skill:
Conceptual
5)
TheauthorsidentifyatipforunderstandingBOPaccounting.Theyrecommendthatyou"followthecashflow."
Answer:
TRUE
Topic:
BOPIntroduction
Skill:
Recognition
6)
TheBOPmustbeinbalancebutthecurrentaccountneednotbe.
Answer:
TRUE
Topic:
CurrentAccount
Skill:
Recognition
7)
WhichofthefollowingisNOTapartoftheCurrentAccountofBOP?
A)
netexport/importofgoods
B)
BalanceofTrade
C)
netportfolioinvestment
D)
netexport/importofservices
Answer:
C
Topic:
CurrentAccount
Skill:
Recognition
8)
WhichofthefollowingisNOTpartoftheFinancialAccountoftheBOP?
A)
netforeigndirectinvestment.
B)
netimport/exportofservices
C)
netportfolioinvestment
D)
otherFinancialitems
Answer:
B
Topic:
FinancialAccount
Skill:
Recognition
9)
ExpendituresbyU.S.touristsinforeigncountriesforforeigngoodsorservicesarefactoredintoBOPcalculations.
Answer:
TRUE
Topic:
BOPUnderstanding
Skill:
Recognition
10)
WhichofthefollowingisNOTanitemtobeconsideredinBOPcalculations?
A)
AforeignresidentpurchasesaU.S.TreasuryBill.
B)
AU.S.-basedfirmmanagesthedevelopmentofanoilfieldinKazakhstan.
C)
AconsumerbuysaVCRmadeinKoreafromaWal-Martstore.
D)
AU.S.citizenlivinginMinnesotatravelstoWinnipeg,CanadaandbuysacaseofLaBatt'sCanadianbeer.
Answer:
C
Topic:
BOPUnderstanding
Skill:
Conceptual
11)
Thebalanceofpaymentsismostlikea(an)________.
A)
cashflowstatement
B)
balancesheet
C)
incomestatement
D)
proxystatement
Answer:
A
Topic:
Balanceofpayments
Skill:
Recognition
12)
Thebalanceofpayments
A)
determinestheeligibilityofcountriesforIMFaid.
B)
addsupthevalueofallassetsandliabilitiesofacountryonaspecificdate.
C)
recordsallinternationaltransactionsforacountryoveraperiodoftime.
D)
alloftheabove.
Answer:
C
Topic:
Balanceofpayments
Skill:
Recognition
13)
Accordingtotheauthors,thefollowingtypesoftransactionsdominatethebalanceofpayments:
A)
theexchangeofgunsforbutter.
B)
theexchangeofstocksandbonds.
C)
theexchangeofgoodsandservices.
D)
theexchangeofrealandfinancialassets.
Answer:
D
Topic:
Balanceofpayments
Skill:
Conceptual
14)
WhichofthefollowingisNOTanexampleofanexchangeoffinancialassets?
A)
theexchangeoftravelservices
B)
theexchangeofstocks
C)
theexchangeofbonds
D)
loans
Answer:
A
Topic:
CurrentAccount
Skill:
Conceptual
15)
Becausecurrentandfinancial/capitalaccountbalancesusedouble-entrybookkeepingitisunusualtofindseriousdiscrepanciesinthedebitsandcredits.
Answer:
FALSE
Topic:
Balanceofpayments
Skill:
Recognition
16)
WhichofthefollowingisNOTpartofthebalanceofpaymentsaccount?
A)
thecurrentaccount
B)
thefinancial/capitalaccount
C)
theofficialreservesaccount
D)
AlloftheaboveareBOPaccounts.
Answer:
D
Topic:
Balanceofpayments
Skill:
Recognition
17)
The________includesallinternationaleconomictransactionswithincomeorpaymentflowsoccurringwithintheyear.
A)
capitalaccount
B)
currentaccount
C)
financialaccount
D)
IMFaccount
Answer:
B
Topic:
CurrentAccount
Skill:
Recognition
18)
Ifyourcompanyweretoimportandexporttextiles,thetransactionswouldberecordedinthecurrentaccountsubcategoryof________.
A)
servicestrade
B)
incometrade
C)
goodstrade
D)
currenttransfers
Answer:
C
Topic:
CurrentAccount
Skill:
Conceptual
19)
ThetravelservicesprovidedtointernationaltravelersbyUnitedAirlineswouldberecordedinthecurrentaccountsubcategoryof________.
A)
servicestrade
B)
incometrade
C)
goodstrade
D)
currenttransfers
Answer:
A
Topic:
CurrentAccount
Skill:
Conceptual
20)
AnacondaCopperInc.createdasubsidiaryinChilelastyeartominecopperore.Theproportionofnetincomepaidbacktotheparentcompanyasadividendwouldberecordedinthecurrentaccountsubcategoryof________.
A)
servicestrade
B)
incometrade
C)
goodstrade
D)
currenttransfers
Answer:
B
Topic:
CurrentAccount
Skill:
Conceptual
21)
Thesubcategorythattypicallydominatesthecurrentaccountis________.
A)
goods(merchandise)trade
B)
servicestrade
C)
incometrade
D)
transferaccounts
Answer:
A
Topic:
CurrentAccount
Skill:
Recognition
22)
Overthelastseveralyears,theUnitedStateshasruna________inthegoodstradebalanceanda________intheservicestradebalance.
A)
surplus;deficit
B)
surplus;surplus
C)
deficit;deficit
D)
deficit;surplus
Answer:
D
Topic:
CurrentAccount
Skill:
Conceptual
23)
Ingeneral,theUnitedStatesgoodstradebalancehasgrownincreasinglypositiveoverthelast3years.
Answer:
FALSE
Topic:
CurrentAccount
Skill:
Recognition
24)
In2001theUnitedStatespostedacurrentaccountdeficitof-$393billion.Thebulkofthenegativevaluecamefrom
A)
anettransferdeficit.
B)
anincomebalancedeficit.
C)
agoodstradedeficit.
D)
anincometradedeficit.
Answer:
C
Topic:
CurrentAccount
Skill:
Recognition
25)
Ingeneral,asacountry'sincomeincreases,sodoesthedemandforimports.
Answer:
TRUE
Topic:
EconomicTheory
Skill:
Conceptual
26)
Ingeneral,acountry'sexportsdecreaseasforeignincomedecreases.
Answer:
TRUE
Topic:
EconomicTheory
Skill:
Conceptual
27)
OverthelasttwodecadesthesurplusonU.S.servicestradehastypicallybeen________thedeficitonU.S.goodstrade.
A)
greaterthan
B)
equalto
C)
lessthan
D)
Therelationshipisconstantlyshiftingfromgreaterthantolessthan.
Answer:
C
Topic:
BalanceofTrade
Skill:
Recognition
28)
The________ofthebalanceofpaymentsmeasuresallinternationaleconomictransactionsoffinancialassets.
A)
currentaccount
B)
merchandisetradeaccount
C)
servicesaccount
D)
capital/financialaccount
Answer:
D
Topic:
Capital/FinancialAccount
Skill:
Recognition
29)
ThefinancialaccountconsistsCOMPLETELYofwhichthreecomponents?
A)
stockinvestment,bondinvestment,andmutualfundinvestment
B)
directinvestment,stockinvestment,andbondinvestment
C)
directinvestment,portfolioinvestment,andotherassetinvestment
D)
mutualfundinvestment,portfolioinvestment,andstockinvestment
Answer:
C
Topic:
Capital/FinancialAccount
Skill:
Recognition
30)
Whencategorizinginvestmentsforthefinancialaccountcomponentofthebalanceofpaymentsthe________isaninvestmentwheretheinvestorhasnocontrolwhereasthe________isaninvestmentwheretheinvestorhascontrolovertheasset.
A)
directinvestment;portfolioinvestment
B)
directinvestment;indirectinvestment
C)
portfolioinvestment;indirectinvestment
D)
portfolioinvestment;directinvestment
Answer:
D
Topic:
Capital/FinancialAccount
Skill:
Recognition
31)
WhichofthefollowingwouldNOTbeconsideredadirectinvestmenteitherintoorfromtheUnitedStates?
A)
thepurchaseofU.S.Treasury(debt)securities
B)
FordMotorCompanybuildinganassemblyplantinMexico
C)
HondaofJapanbuildingamanufacturingplantinAla
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