国际金融双语期末A卷2Word文档格式.docx

国际金融双语期末A卷2Word文档格式.docx

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D）TheNewYorkYankeesarepaid$10millionbytheChinesetoplayanexhibitiongameinBeijing,China.

2.Inthebalanceofpayments,thestatisticaldiscrepancyorerrortermisusedto:

A）Ensurethatthesumofalldebitsmatchesthesumofallcredits.

B）Ensurethatimportsequalthevalueofexports.

C）Obtainanaccurateaccountofabalance-of-paymentsdeficit.

D）Obtainanaccurateaccountofabalance-of-paymentssurplus.

3.Adeficitintheoverallbalancegenerallyisanindicationthat:

A）Thecountry’smonetaryauthoritiesweresellingforeigncurrency.

B）Thecountry’smonetaryauthoritieswerebuyingforeigncurrency.

C）Thecountry’smonetaryauthoritieswerebuyingdomesticcurrency.

D）Thecountry’smonetaryauthoritieswerebuyingimportedgoods.

4.SupposethataKoreantelevisionsetthatcosts600woninKoreacosts$400intheUnitedStates.Thesepricessuggestthattheexchangeratebetweenthewonandthedollaris:

A）1.5wonperdollar

B）0.75wonperdollar

C）$1.50perwon

D）$3perwon

5.TotheUS,U.S.capitalinflowswillcreatea__________foreigncurrencyanda__________U.S.dollars.

A）Demandfor;

supplyof

B）Supplyof;

demandfor

C）Shortageof;

D）Supplyof;

shortageof

6.U.S.importsofgoodsandserviceswillcreatea__________foreigncurrencyanda__________U.S.dollars.

7.Ifthespotpriceoftheeurois$1.10pereuroandthe30-dayforwardrateis$1.00pereuro,andyoubelievethatthespotratein30dayswillbe$1.05pereuro,youcanmaximizespeculativegainsby:

A）Buyingeurosinthespotmarketandsellingtheeurosin30daysatthefuturespotrate.

B）Signingaforwardforeignexchangecontracttoselltheeurosin30days.

C）Signingaforwardforeignexchangecontracttosellthedollarsin30days.

D）Buyingdollarsinthespotmarketandsellingthedollarsin30daysatthefuturespotrate.

8.AssumeyouareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:

A）Sellingdollarsintheforwardmarketfor60-daydelivery.

B）Buyingdollarsnowandsellingitattheendof60days.

C）Sellingtheyuanequivalentintheforwardmarketfor60-daydelivery.

D）KeepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.

9.TheinterestrateintheU.K.is4%for90days,thecurrentspotrateis$2.00/£

andtheforwardrateis$1.96/£

.Ifthecoveredinterestratedifferentialisabout-1%,thentheinterestrateintheU.S.for90dayswouldhavetobe:

A）7%

B）4%

C）3%

D）2%

10.Ifthecoveredinterestdifferentialiszero:

A）Internationalinvestmentswillbeunprofitable.

B）Parityhasnotbeenreached.

C）Theoverallcoveredreturnonaforeign-currencyinvestmentequalsthereturnonacomparabledomestic-currencyinvestment.

D）Acurrencyisataforwardpremiumbyasmuchasitsinterestrateishigherthantheinterestrateintheothercountry.

11.Whenuncoveredinterestparityholds:

A）Acurrencyisexpectedtoappreciatebyasmuchasitsinterestrateislowerthantheinterestrateintheothercountry.

B）Acurrencyisexpectedtoappreciatebyasmuchasitsinterestrateishigherthantheinterestrateintheothercountry

C）Acurrencyisexpectedtodepreciatebyasmuchasitsinterestrateislowerthantheinterestrateintheothercountry

D）Theforwardpremiumequalstheinterestratedifferential.

12.InternationalFisherEffectreferstotheconditionwhen:

A）Covereddifferentialequalszero.

B）Expecteduncovereddifferentialequalszero.

C）Uncoveredinterestparityholds.

D）Both（B）and（C）.

13.__________purchasingpowerparitystatesthatthedifferencebetweenchangesovertimeinproduct-pricelevelsintwocountrieswillbeoffsetbythechangeintheexchangerateoverthistime.

A）Full

B）Partial

C）Relative

D）Absolute

14.The__________approachtoexchangeratesemphasizestheimportanceofthesupplyanddemandformoneyasakeytounderstandingthedeterminantsofexchangerates.

A）Purchasing-power-parity

B）Assetmarket

C）Monetary

D）Balanceofpayments

15.BasedonPPPandthequantitytheoryofmoney,ifJapan’srealincomerisesrelativetorealincomeintheUS,thereshouldbea（n）:

A）Appreciationofthedollar.

B）Appreciationoftheyen.

C）Interestrateparity.

D）Depreciationoftheyen.

16..The__________effectcansometimesbedestabilizingbeca