ch03汇率制度test.docx
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ch03汇率制度test.docx
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ch03汇率制度test
IQuestionsandproblemsforChapter3:
LWhatisanexchange-ratesystem?
2.Howdoesagoldstandardconstituteanexchange-ratesystem?
46
3.WhatwastheBrettonWoodssystemof"pegged"exchangerates?
49
4.Whatpost-BrettonWoodssystemof"flexible"exchangeratesprevailstoday?
54
5.Whatarecrawling・pegandbasket-pegexchange-ratearrangements?
56
6.Whatisacurrencvboard,andwhatisdollarization?
57
7.Whichisbest:
afixed-orflexible-exchange-ratearrangement?
59
IIMultipleChoiceQuestions
LTheprinciplefunction(主要职能)oftheInternationalMonetary
Fundwasoriginallyto
A.lendtomembernations(成员国)experiencingashortageofforeignexchangereserves(储备)•
B.financepostwar(战后)reconstruction(重建)‘particularly
inEuropeandJapan.
C.reducetradebarriersandsettledisputesamongcountriesrelatingtocurrencynegotiations*
D.actasasupranationalregulatoryagencyfordomesticcentralbanks.
Answer:
A
2.TheU.S.dollartodayisanexampleofa
A.commoditymoney.
B.fiatmoney.不兑换纸币,名义纸币
Cecommodity-backedmoney>
D.currencybasket.
Answer:
B
3.Thegoldstandardwasinplaceformostmajoreconomicsoftheworldduringtheperiod
A.fromthebeginningoftheGreatDepressionuntilWorldWarIL
B.from1973untilthepresent.
C.fromthemid-1870suntilWorldWarI.
D.sincetheendofWorldWarIL
Answer:
C
4.Underthegoldstandard^ifthemintparity(铸币局)conditionfortheFrenchfrancwassetatFfrl07.1perounceofgold,andtheGermanmarkwassetatDM88.7perounceofgold,thenitispossibletocompute(计算)theexchangeratebetweentheGermanmarkandtheFrenchfranc(DM/f)asapproximately(大约)
A・0・83・
B・1・21・
C.9490.9
D.Itisnotpossibletocomputetheexchangeratebetweenthemarkandthefrancwiththesevalues,becausethesevaluesarerelativetothepriceofgold.
Answer:
A
5.UndertheBrettonWoodssystem,mostofthemajorcurrenciesof
thesystem,otherthantheU.S.dollar,
A.peggedtheirvaluesagainstthevalueofanounceofgold.
B.peggedtheirvaluesagainstthevalueofthedollar*
C.allowedtheircurrenciestofloat.
D.peggedtheirvaluesagainstthevalueoftheEuro<
Answer:
B
6.Whichofthefollowingisnotaninstitutionthataroseunderthe
BrettonWoodsAgreement?
A.TheInternationalMonetaryFund.
B.TheInternationalBankforReconstructionand
Development.世界银行
C.TheLeagueofNations*
D・TheGeneralAgreementonTariffsandTrade.关贸总协定
Answer:
C
7.InthePlazaAgreement场)ofSeptember,1985,the"Groupof
Five"ornG5ncountriesannouncedthattheybelievedthat
A.theHG5nneededtobeexpandedtoincludeanadditionalfivemajorindustrializedcountriestomakeupwhatisnowreferredtoasthenG10n.
B.theBrettonWoodssystemwouldnolongerbesustainable*
C.itwasnecessaryto"float”thedollarrelativetogold.
D.theexchangevalueofthedollarwastoostrongandthattheywouldcoordinatetheircentralbankinterventionsinordertodrivedownthevalueofthedollar*
Answer:
D
&Whichofthefollowingisnotamemberofthe"GroupofTen"industrializedcountries?
(GIO:
西德法国日本英国美国意大利加拿大比利时荷兰瑞典)
A.
Japan
B.
Belgium
C.
Switzerland瑞士
D.
Sweden
Answer:
C
9.Anexampleofacountrythatmaintainedacrawling・peg
exchange-ratesystem(爬行钉住汇率)duringtheearly2000sis
A・theUnitedStates.
BeCanada.
C.France.
D・Nicaragua.尼加拉瓜
Answer:
D
10.Acurrencyboardisan
A.exchangemarketinwhichthemajorcurrenciesoftheworldareexchangedontheopenmarketamongprivatebanksatprevailingrates(现行汇率)・
B.independentmonetaryagencythatsubstitutesforacentralbankbypeggingthegrowthofthedomesticmoneystocktotheforeign-exchangeholdingsoftheboard.
C.independentmonetaryagencywhichisresponsibleforsetting
bankreserverequirementsforthedomesticcurrency>
D.exchangemarketinwhichthenotesandbillsissuedbythedomesticgovernmentaretradedontheopenmarketamongprivatebanks.
Answer:
B
11 A.afreefloat. Beacurrency-basketpeg. C.dollarization. D.acurrencyboard. Answer: C 12JftheChineserenminbi,whoseunitofcurrencyistheyuan,isrevalued(估价)relativetotheU.S.dollar,then A.foreachyuan,onecanexpecttobuyfewerdollars. B.foreachyuan,onecanexpecttobuymoredollars. A.anexchangeratesystemwhereinpolicymakersallowsthevalueofthedomesticcurrencytobedetermineonlybytheforcesofsupplyanddemand. B.anexchangeratesystemwherebyeachofthemembersofthesystempegtheircurrencyagainstoneofthemajorcurrencies^suchastheU.S.dollar,whichisinturnpeggedagainstacommodity,suchasgold. C.anexchangeratearrangementinwhichthedomesticcurrencyisprimarilymanagedbythecentralbankofaforeigncountry,whichistypicallythemajortradingpartner. D.anexchangeratearrangementinwhichanationallowstheinternationalvalueofitscurrencytobeprimarilydeterminedbymarketforces,butintervenes(介入)occasionallytostabilize(稳定)itscuirency. Answer: D 15.TheG7/G8economicsummitswerestartedby: A.RussianPresidentBoisYeltsin B.U C.U.SPresidentWilliamClinton. D.FrenchPresidentValeiyGiscardd^Estaing. Answer: D 16・TheSmithsonianagreement(史密森协议)refersto A.theunderstandingthatmostofthemajorindustrializedcountriescametoattheendofthedepressioneraregardingthenon-sustainabilityofthegoldstandardasitwascurrentlypracticed. B.anagreementthatwasmadetoestablishnewparvaluesforthe GIOcountriesthathadparticipatedintheBrettonWoodssystem. C.theagreementthatPresidentNixoncametovisavistheother GIOmemberstosuspendtemporarilytheconvertibilityofthedollarintogoldorotherreserveassets* D.theinitialagreementthatsetforthfutureeconomiccooperationundertheNorthAmericanFreeTradeAssociation. 17 collapseoftheBrettonWoodssystem? A>Increasedfederal(联邦制)spendingforsocialprograms termedthe"GreatSocietyHundertheJohnsonadministration. BeHeightenedU.S.involvementinVietnam. C.TheconditionssetforthintheLouvreAccord.(卢浮宫协议) D.U.S.balanceofpaymentsdeficitswithGermanyandJapan* Answer: C 18・AMonetaryOrder(货币秩序)is A.asetofrulesthatdeterminetheinternationalvalueofacurrencv> B.asetoflawsandregulationsthatestablishestheframework(框架)withinwhichindividualsconductandsettletransactions. C.anexchangeratearrangementinwhichacountrypegstheinternationalvalueofthedomesticcurrencyrelativetothecurrencyofanothernation. Deaspecializedformofacurrencyboard. Answer: B 19 hasbeenusedextensively(被广泛使用)? A>Creditcards. B.Demanddepositsandcertificatesofdeposit. C.Gold. D.TheEuro. Answer: C 20.Akeychallengetotheexchangeratesystemoftheleading industrializedcountriesinthe1970scameasaconsequenceof A.arapidincreaseinthepriceofpetroleum石油. B.theformationoftheBundesbank. C.theheighteningofColdWartensions* D.theestablishmentofmanycurrencybasketsworldwide. 21 A.Smoot-HawleyAct. B.JamaicaAccord.(牙买加协议) C.SmithsonianAgreement. D.TreatyofRome. Answer: B 22.Anadvantageofthegoldstandardsystemwasthat A.itpromotedconditionsthathelpedtoavoidperiodic(周期的)financialandbankinginstability(不稳定的)・ B.itdidnotrequirecountriestohavecentralbanks. C.itensuredshort-runstabilityofthemonetarystock. D.mintingandtransportationcostswererelativelylowascomparedtootherexchangeratesystems. 23・ThegoldwindowfortheU.S.dollarwasclosedby A>PresidentRonaldReagan. B.PresidentJamesCarter. C.FederalReserveChairmanPaulVolker• D・PresidentRichardNixon.理查尼克松 Answer: D 24.Anadvantageofaflexibleexchangeratesystemisthatit A.canhelpacountryovercomeexternalshockssuchasanunusualinflowofcapitalfromabroad. B.canreducethevolatilityofnominalexchangerateovertime. C.eliminatestheneedforthecentralbanktotargetinterestrateSe D.ensuresagreatervolumeoftradeingoodsandservicesamongmembercountries. 25 A B.Toprovidecentralbankswitharangeoffinancialservicesformanagingtheirexternalreserves> C.Toactasalenderoflastresortforcountriesfacingtemporaryexternalbalanceofpaymentsproblems. D.Toactasanagentortrusteewhichfacilitatestheimplementationofvariousinternationalfinancialagreements. Answer: CPresidentGeraldFord
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