国际金融期中作业.docx

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国际金融期中作业.docx

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

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