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TheEconomicsofMoney,Banking,andFinancialMarkets,9e（Mishkin）

Chapter17TheForeignExchangeMarket

17.1ForeignExchangeMarket

1）Theexchangerateis

A）thepriceofonecurrencyrelativetogold.

B）thevalueofacurrencyrelativetoinflation.

C）thechangeinthevalueofmoneyovertime.

D）thepriceofonecurrencyrelativetoanother.

Answer:

D

QuesStatus:

PreviousEdition

2）Exchangeratesaredeterminedin

A）themoneymarket.

B）theforeignexchangemarket.

C）thestockmarket.

D）thecapitalmarket.

Answer:

B

QuesStatus:

PreviousEdition

3）Althoughforeignexchangemarkettradesaresaidtoinvolvethebuyingandsellingofcurrencies,mosttradesinvolvethebuyingandsellingof

A）bankdepositsdenominatedindifferentcurrencies.

B）SDRs.

C）gold.

D）ECUs.

Answer:

A

QuesStatus:

PreviousEdition

4）Theimmediate（two-day）exchangeofonecurrencyforanotherisa

A）forwardtransaction.

B）spottransaction.

C）moneytransaction.

D）exchangetransaction.

Answer:

B

QuesStatus:

PreviousEdition

5）Anagreementtoexchangedollarbankdepositsforeurobankdepositsinonemonthisa

A）spottransaction.

B）futuretransaction.

C）forwardtransaction.

D）deposittransaction.

Answer:

C

QuesStatus:

PreviousEdition

6）Today1eurocanbepurchasedfor$1.10.Thisisthe

A）spotexchangerate.

B）forwardexchangerate.

C）fixedexchangerate.

D）financialexchangerate.

Answer:

A

QuesStatus:

PreviousEdition

7）Inanagreementtoexchangedollarsforeurosinthreemonthsatapriceof$0.90pereuro,thepriceisthe

A）spotexchangerate.

B）moneyexchangerate.

C）forwardexchangerate.

D）fixedexchangerate.

Answer:

C

QuesStatus:

PreviousEdition

8）WhenthevalueoftheBritishpoundchangesfrom$1.25to$1.50,thepoundhas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

C

QuesStatus:

PreviousEdition

9）WhenthevalueoftheBritishpoundchangesfrom$1.50to$1.25,thenthepoundhas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

B

QuesStatus:

PreviousEdition

10）Whenthevalueofthedollarchangesfrom£0.5to£0.75,thentheBritishpoundhas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

B

QuesStatus:

PreviousEdition

11）Whenthevalueofthedollarchangesfrom£0.75to£0.5,thentheBritishpoundhas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

C

QuesStatus:

PreviousEdition

12）WhentheexchangeratefortheMexicanpesochangesfrom9pesostotheU.S.dollarto10pesostotheU.S.dollar,thentheMexicanpesohas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

B

QuesStatus:

PreviousEdition

13）WhentheexchangeratefortheMexicanpesochangesfrom10pesostotheU.Sdollarto9pesostotheU.S.dollar,thentheMexicanpesohas________andtheU.S.dollarhas________.

A）appreciated;appreciated

B）depreciated;appreciated

C）appreciated;depreciated

D）depreciated;depreciated

Answer:

C

QuesStatus:

PreviousEdition

14）OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout0.75euros.Therefore,oneeurowouldhavepurchasedabout________U.S.dollars.

A）0.75

B）1.00

C）1.33

D）1.75

Answer:

C

QuesStatus:

Revised

15）OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout49.0Indianrupees.Thus,oneIndianrupeewouldhavepurchasedabout________U.S.dollars.

A）0.02

B）1.20

C）7.00

D）49.0

Answer:

A

QuesStatus:

Revised

16）OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout1.15Swissfrancs.Therefore,oneSwissfrancwouldhavepurchasedabout________U.S.dollars.

A）0.30

B）0.87

C）1.15

D）3.10

Answer:

B

QuesStatus:

Revised

17）OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout3.33Romaniannewlei.Therefore,oneRomaniannewleiwouldhavepurchasedabout________U.S.dollars.

A）0.30

B）1.86

C）2.86

D）3.33

Answer:

A

QuesStatus:

Revised

18）IftheU.S.dollarappreciatesfrom1.25SwissfrancperU.S.dollarto1.5francsperdollar,thenthefrancdepreciatesfrom________U.S.dollarsperfrancto________U.S.dollarsperfranc.

A）0.80;0.67

B）0.67;0.80

C）0.50;0.33

D）0.33;0.50

Answer:

A

QuesStatus:

PreviousEdition

19）If