国际金融期中作业.docx
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国际金融期中作业
Single-choice(单选)、True/False(判断),Essay(简短作答题)
Chapter2:
PaymentsamongNations
Single-ChoiceQuestions
1.Acountry’sbalanceofpaymentsrecords:
b
a.Thevalueofallexportsofgoodsandservicesfromthatcountryforaperiodoftime.
b.Allflowsofvaluebetweenthatcountry’sresidentsandresidentsoftherestoftheworldduringaperiodoftime.
c.Allflowsoffinancialassetsthatcrossthatcountry’sbordersduringaperiodoftime.
d.Allflowsofgoodsintothatcountryduringaperiodoftime.
2.Acredititeminthebalanceofpaymentsis:
a
a.Anitemforwhichthecountrymustbepaid.
b.Anitemforwhichthecountrymustpay.
c.Anyimporteditem.
d.Anitemthatcreatesamonetaryclaimowedtoaforeigner.
3.Everyinternationalexchangeofvalueisenteredintothebalance-of-paymentsaccounts__________time(s).b
a.1
b.2
c.3
d.4
4.Adebititeminthebalanceofpaymentsis:
b
a.Anitemforwhichthecountrymustbepaid.
b.Anitemforwhichthecountrymustpay.
c.Anyexporteditem.
d.Anitemthatcreatesamonetaryclaimonaforeigner.
5.Inanation'sbalanceofpayments,whichoneofthefollowingitemsisalwaysrecordedasapositiveentry?
d
a.Changesinforeigncurrencyreserves.
b.Importsofgoodsandservices.
c.Militaryforeignaidsuppliedtoalliednations.
d.Purchasesbyforeigntravelersvisitingthecountry.
6.Thesumofallofthedebititemsinthebalanceofpayments:
b
a.Equalstheoverallbalance.
b.Equalsthesumofallcredititems.
c.Equals‘compensating’transactions.
d.Equalsthesumofcredititemsminuserrorsandomissions.
7.WhichofthefollowingcapitaltransactionsareenteredasdebitsintheU.S.balanceofpayments?
b
a.AU.S.residenttransfers$100fromhisaccountatCreditSuisseinBasel(Switzerland)tohisaccountataSanFranciscobranchofWellsFargoBank.
b.AFrenchresidenttransfers$100fromhisaccountatWellsFargoBankinSanFranciscotohisCreditSuisseaccountinBasel.
c.AU.S.residentsellshisIBMstocktoaFrenchresident.
d.AU.S.residentsellshisCreditSuissestocktoaFrenchresident.
8.Anincreaseinanation'sfinancialliabilitiestoforeignresidentsisa:
c
a.Reserveinflow.
b.Reserveoutflow.
c.Capitalinflow.
d.Capitaloutflow.
9.__________aremoney-likeassetsthatareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.a
a.Officialinternationalreserveassets
b.Unofficialinternationalreserveassets
c.Officialdomesticreserveassets
d.Unofficialdomesticreserveassets
10.Whichofthefollowingisconsideredacapitalinflow?
a
a.AsaleofU.S.financialassetstoaforeignbuyer.
b.AloanfromaU.S.banktoaforeignborrower.
c.ApurchaseofforeignfinancialassetsbyaU.S.buyer.
d.AU.S.citizen’srepaymentofaloanfromaforeignbank.
11.Inacountry’sbalanceofpayments,whichofthefollowingtransactionsaredebits?
a
a.Domesticbankbalancesownedbyforeignersaredecreased.
b.Foreignbankbalancesownedbydomesticresidentsaredecreased.
c.Assetsownedbydomesticresidentsaresoldtononresidents.
d.Securitiesaresoldbydomesticresidentstononresidents.
12.Theroleof__________istodirectonenation’ssavingsintoanothernation’sinvestments:
d
a.Merchandisetradeflows
b.Servicesflows
c.Currentaccountflows
d.Capitalflows
13.Thenetvalueofflowsofgoods,services,income,andunilateraltransfersiscalledthe:
b
a.Capitalaccount.
b.Currentaccount.
c.Tradebalance.
d.Officialreservebalance.
14.Thenetvalueofflowsoffinancialassetsandsimilarclaims(excludingofficialinternationalreserveassetflows)iscalledthe:
a
a.Financialaccount.
b.Currentaccount.
c.Tradebalance.
d.Officialreservebalance.
15.ThefinancialaccountintheU.S.balanceofpaymentsincludes:
b
a.Everythinginthecurrentaccount.
b.U.S.governmentpaymentstoothercountriesfortheuseofmilitarybases.
c.ProfitsthatNissanofAmericasendsbacktoJapan.
d.NewU.S.investmentsinforeigncountries.
16.AU.S.residentincreasingherholdingsofaforeignfinancialassetcausesa:
d
a.CreditintheU.S.currentaccount.
b.DebitintheU.S.currentaccount.
c.CreditintheU.S.capitalaccount.
d.DebitintheU.S.capitalaccount.
17.AforeignresidentincreasingherholdingsofaU.S.financialassetcausesa:
c
a.CreditintheU.S.currentaccount.
b.DebitintheU.S.currentaccount.
c.CreditintheU.S.capitalaccount.
d.DebitintheU.S.capitalaccount.
18.Adeficitinthecurrentaccount:
a
a.Tendstocauseasurplusinthefinancialaccount.
b.Tendstocauseadeficitinthefinancialaccount.
c.Hasnorelationshiptothefinancialaccount.
d.Istheresultofincreasingexportsanddecreasingimports.
19.InSeptember,2005,exportsofgoodsfromtheU.S.decreased$3.3billionto$73.4billion,andimportsofgoodsincreased$3.8billionto$144.5billion.Thisincreasedthedeficitin:
c
a.Thebalanceofpayments.
b.Thefinancialaccount.
c.Thecurrentaccount.
d.Unilateraltransfers.
20.WhichofthefollowingwouldcontributetoaU.S.currentaccountsurplus?
b
a.TheUnitedStatesmakesaunilateraltariffreductiononimportedgoods.
b.TheUnitedStatescutsbackonAmericanmilitarypersonnelstationedinJapan.
c.U.S.touriststravelinlargenumberstoAsia.
d.RussianvodkabecomesincreasinglypopularintheUnitedStates.
21.Whichofthefollowingtransactionsisrecordedinthefinancialaccount?
a
a.FordmotorcompanybuildsanewplantinChina
b.AChinesebusinessmanimportsFordautomobilesfromtheUnitedStates.
c.AU.S.touristspendsmoneyonatriptoChina.
d.TheNewYorkYankeesarepaid$10millionbytheChinesetoplayanexhibitiongameinBeijing,China.
22.IfaBritishbusinessbuysU.S.governmentsecurities,howwillthisbeenteredinthebalanceofpayments?
c
a.Itwillappearinthetradeaccountasanimport.
b.Itwillappearinthetradeaccountasanexport.
c.ItwillappearinthefinancialaccountasanincreaseinU.S.assetsheldbyforeigners.
d.ItwillappearinthefinancialaccountasadecreaseinU.S.assetsheldbyforeigners.
23.Inthebalanceofpayments,thestatisticaldiscrepancyorerrortermisusedto:
a
a.Ensurethatthesumofalldebitsmatchesthesumofallcredits.
b.Ensurethatimportsequalthevalueofexports.
c.Obtainanaccurateaccountofabalance-of-paymentsdeficit.
d.Obtainanaccurateaccountofabalance-of-paymentssurplus.
24.Officialreserveassetsare:
b
a.Thegoldholdingsinthenation’scentralbank.
b.Moneylikeassetsthatareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.
c.GovernmentT-billsandT-bonds.
d.GovernmentholdingsofSDR’s
25.Whichofthefollowingconstitutesthelargestcomponentoftheworld’sinternationalreserveassets?
d
a.Gold.
b.SpecialDrawingRights.
c.IMFReservePositions.
d.ForeignCurrencies.
26.Thenetaccumulationofforeignassetsminusforeignliabilitiesis:
c
a.Netofficialreserves.
b.Netdomesticinvestment.
c.Netforeigninvestment.
d.Netforeigndeficit.
27.Acountryexperiencingacurrentaccountsurplus:
b
a.Needstoborrowinternationally.
b.Isabletolendinternationally.
c.Mustalsohavehadasurplusinits"overall"balance.
d.Spentmorethanitearnedonitsmerchandiseandservicetrade,internationalincomepaymentsandreceiptsandinternationaltransfers.
28.The__________measuresthesumofthecurrentaccountbalanceplustheprivatecapitalaccountbalance.c
a.Officialcapitalbalance
b.Unofficialcapitalbalance
c.Officialsettlementsbalance
d.Unofficialsettlementsbalance
29.Iftheoverallbalanceisin__________,thereisanaccumulationofofficialreserveassetsbythecountryoradecreaseinforeignofficialreserveholdingsofthecountry'sassets.a
a.Surplus
b.Deficit
c.Balance
d.Foreignhands
30.WhichofthefollowingisthecurrentaccountbalanceNOTequalto?
d
a.Thedifferencebetweendomesticproductanddomesticexpenditure.
b.Thedifferencebetweennationalsavinganddomesticinvestment.
c.Netforeigninvestment.
d.Thedifferencebetweengovernmentsavingandgovernmentinvestment.
True/FalseQuestions
31.Capitalinflowsaredebitsandcapitaloutflowsarecredits.
F
32.Thenetvalueoftheflowofgoods,services,income,andgiftsisthecurrentaccountbalance.
T
33.Thenetflowoffinancialassetsandsimilarclaimsistheprivatecurrentaccountbalance.
F
34.Themajorityofcountries'officialreservesassetsarenowforeignexchangeassets,financialassetsdenominatedinaforeigncurrencythatisreadilyacceptableininternationaltransactions.
T
35.Acountry'sfinancialaccountbalanceequalsthecountry'snetforeigninvestment.
F
36.Acountryhasacurrentaccountdeficitifitissavingmorethanitisinvestingdomestically.
F
37.Theofficialsettlementsbalancemeasuresthesumofthecapitalaccountbalanceplusthepubliccurrentaccountbalance.
F
38.Anation'sinternationalinvestmentpositionshowsitsstockofinternationalassetsandliabilitiesatamomentintime.
T
39.Anationisaborrowerifitscurrentaccountisindeficitduringatimeperiod.
T
40.Anationisadebtorifitsnetstockofforeignassetsispositive.
F
41.AtransactionleadingtoaforeignresidentincreasingherholdingsofaU.S.financialassetwillberecordedasadebitontheU.S.financialaccount.
F
42.Acredititemisanitemforwhichacountrymustpay.
F
43.Goldisamajorre