云南财经大学国际金融选择题.docx

云南财经大学国际金融选择题.docx

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云南财经大学国际金融选择题

Chapter1

1.WhichofthefollowingisNOTtrueregardingthesubjectmatterofinternationalfinance?

A.Internationalfinancestudiestheimportanttradetheories.

B.Internationalfinanceexaminesthetheoryofbalanceofpaymentsanditsrelationshipwithmacroeconomicvariables.

C.Internationalfinancestudiesexchangeratetheoriesandtheimpactsoftheexchangerateontheeconomy.

D.Internationalfinancediscussestheexchangeraterisksandthederivativeinstrumentsbywhichpeopleusetocovertheexchangeraterisksandtospeculate.

2.Globalizationrefersto__________.

A.thestrengtheningofexistinginternationallinkagesofcommerce,financeandtheadditionofnewinternationallinkages

B.theexpansionofworldgovernanceandglobalsociety

C.theincreasedmobilityofpeoplesandinformation

D.Alloftheabove

3.Mutuallybeneficialtraderequireseachcountrytobetheleast-costproducerofatleastonegoodthatitcanexporttoitstradingpartner.Thisiscalled__________.

A.thetheoryofcomparativeadvantage

B.theinternationalfinancetheory

C.thetheoryofabsoluteadvantage

D.thetheoryofbalanceofpayments

4.WhichofthefollowingwouldNOTbeawaytoimplementcomparativeadvantage?

A.IBMexportscomputerstoGambia.

B.ComputerhardwareisdesignedintheUnitedStatesbutmanufacturedandassembledinMalaysia.

C.WaterofthegreatestpurityisobtainedfromthewellsinOregon,bottled,andexportedworldwide.

D.Alloftheaboveareexamplesofwaystoimplementcomparativeadvantage.

5.WhichofthefollowingwouldNOTbeconsideredafeatureofcomparativeadvantage?

A.ExportersincountryAsellgoodstoimportersincountryB.

B.FirmsincountryAspecializeinmakingproductsthatcanbeproducedrelativeefficiently,givencountryA’sendowmentoffactorsofproduction.FirmsincountryBdolikewisethusmaximizingthecombinedoutputofcountriesAandB.

C.TradeexistsbetweencountriesAandBbecauseofspecializedfactorsofproductionthatcannotbemovedamongcountries.

D.Alloftheabovearefeaturesofcomparativeadvantage.

6.Therealsectorinaneconomydealswith__________.

A.transactionsinallgoodsandservices

B.transactionsinallfinancialassets

C.transactionsingoods,servicesandfinancialassets

D.transactionsinnewtechnologicalproductsonly

7.Ofthefollowing,whichwouldNOTbeconsideredawaythatgovernmentinterfereswithcomparativeadvantage?

A.tariffs

B.quotas

C.managerialskills

D.othernon-tariffrestrictions

8.Afirmwithoperationsinmorethanonecountryiscalleda（an）_________.

A.bigfirm

B.multinationalcorporation

C.internationalfirm

D.alloftheabove

9.TheprimarygoalofanMNCcomesdownto__________.

A.seekmarkets

B.improveitsproductionefficiency

C.gainaccesstotechnologyormanagerialexpertise

D.maximizeshareholderwealth

10.Worldtradeofgoodsandserviceshasexpandedinaremarkablepacebecauseofthe__________.

A.reductionintradebarriers

B.lowertransportationcosts

C.advancesintelecommunications,informationtechnologyandfinancialservices

D.Alloftheabovearethereasonsofrapidgrowthininternationaltrade.

11.Nowadaystheworldtradeingoodsandservicesisimportant__________.

A.onlytodevelopedcountries

B.onlytolessdevelopedcountries

C.tobothdevelopedandlessdevelopedcountries

D.toneitherdevelopednorlessdevelopedcounties

12.WhichofthefollowingisNOTacharacteristicofthenowadaysfinancialmarkets?

A.Increasinglyinterdependentnationalfinancialmarkets

B.theglobaltrendtowardfree-marketeconomies

C.Anincreasinglynumberofcross-borderpartnerships,includingmanyinternationalmerges,acquisitions,andjointventures

D.Anincreasingnumberofcooperativelinkagesamongsecuritiesexchange

13.__________indicatesthatmutuallybeneficialtradecanoccurevenwhenonenationisabsolutelymoreefficientintheproductionofallgoods.

A.Thetheoryofcomparativeadvantage

B.Thetheoryofabsoluteadvantage

C.Thetheoryofbalanceofpayments

D.Thetheoryofexchangeratedetermination

14.Awell-establishedmultinationalcompanyneeds__________tomaximizeitsfirmvalue.

A.anopenmarketplace

B.highqualitystrategicmanagement

C.accesstocapital

D.alloftheabove

Questions15through20arebasedontheinformationpresentedintable1.1:

Table1.1

Productioncapability

ContainersofsnowboardsContainersofdigitalcameras

Austriahas1,000units15containers/unit8containers/unit

ofproductionfactors

Russiahas1,000units12containers/unit3containers/unit

ofproductionfactors

15.OneproductionfactorinAustriahasa（an）__________overoneproductionfactorinRussiain_________.

A.absolutedisadvantage;digitalcameras

B.absolutedisadvantage;snowboards

C.absoluteadvantage;bothdigitalcamerasandsnowboards

D.noneoftheabove

16.AustriahasalargecomparativeadvantageoverRussiaintheproductionof__________ataratioof__________.

A.snowboards;5:

4

B.digitalcameras;8:

3

C.snowboards;8:

3

D.digitalcameras;5:

4

17.AssumenotradebetweenAustriaandRussia.Ifeachcountryputs50%oftheirfactorsintoeachproduct,thetotalnumberofsnowboardsanddigitalcamerasproducedbythetwocountriescombinedare__________and_________.

A.13,500snowboards;5,500cameras

B.12,000snowboards;8,000cameras

C.5,500snowboards;13,500cameras

D.3,000cameras;15,000snowboards

18.IftradetakesplaceatRussia’sdomesticprice,__________snowboardswillberequiredtoobtain1digitalcamera.

A.4

B.2.5

C.1.25

D.0.25

19.IfeachcountryspecializesinproductionwithAustriaproducingonlydigitalcamerasandRussiaproducingonlysnowboards,atatradingrateof3snowboardsperdigitalcamera,howmanycamerasandsnowboardswillbeavailabletobeconsumedinAustriaiftheytrade3,000camerastoRussia?

A.9,000snowboardsand5,000cameras

B.3,000snowboardsand3,000cameras

C.3,000snowboardsand9,000cameras

D.Thereisnotenoughinformationtoanswerthisquestion

20.IfeachcountryspecializesinproductionwithAustriaproducingonlydigitalcamerasandRussiaproducingonlysnowboards,atatradingrateof3snowboardsperdigitalcamera,howmanycamerasandsnowboardswillbeavailabletobeconsumedinRussiaiftheytrade9,000snowboardstoAustria?

A.9,000snowboardsand5,000cameras

B.3,000snowboardsand3,000cameras

C.3,000snowboardsand9,000cameras

D.Thereisnotenoughinformationtoanswerthisquestion

Chapter2

1.Accordingtotheprincipleofthebalancedbalanceofpayments,ifacountryreducesitsforeignexchangereservesby$20millionandthestatisticaldiscrepancyisinthecreditentryof$5millioninagivenperiodoftime,thecountryruns__________ofitsbalanceofpaymentsduringthatperiodoftime.

A.$15milliondeficits

B.$25milliondeficits

C.$20milliondeficits

D.$5milliondeficits

2.Ifacountry’sdomesticsavingisgreaterthandomesticinvestment,thecountryprobablyhas__________.

A.acurrentaccountsurplus

B.anetcapitaloutflow

C.acurrentaccountdeficit

D.BothAandBarepossible.

3.Adebitentryinthebalance-of-paymentsaccountrepresentsatransactionthat__________.

A.adomesticresidentreceivesapaymentfromabroad

B.adomesticresidentmakesapaymenttoaforeignresident

C.willimprovethecurrentaccountstatus

D.willhavenoaffectsonthenation’sforeignexchangereserves

4.Intermsofbalance-of-paymentsaccount,whichofthefollowingwouldberecordedasadebitentryintheU.S.BOP?

A.exportsofmerchandise

B.exportsofservices

C.purchaseoftheU.S.Treasurybondsbynon-residents

D.anincreaseofthedepositinaU.S.resident'saccountataforeignbank

5.Abalance-of-paymentsdeficitisdefinedasasituationinwhich__________.

A.thevalueofpaymentsmadetotheforeignersexceedsthevalueofreceiptsreceivedfromtheforeignersinagivenperiodoftime

B.thegovernmentmustborrowinordertomeetitsbudgetobligations

C.thevalueofmanufacturedgoodexportsislessthanthevalueofimportedgoods

D.anationearnsmuchinextraassetsorreducedliabilitiesinitsdealingswiththerestoftheworld

6.WhichofthefollowingwouldNOTbeconsideredasatypicalBOPtransaction?

A.ToyotaUSAisaUSdistributorofautomobilesmanufacturedinJapanbyitsparentcompany.

B.AU.S.subsidiaryofEuropeanfinancialgiant,CreditSuisse,paysdividendstoitsparentinZurich.

C.AUStouristpurchasesgiftsatamuseuminLondon.

D.AllareexampleofBOPtransactions.

7.Thebalanceofpaymentsisastatisticalrecordwhichmeasuresthetotalvalueof__________.

A.acountry’sforeignexchangereservesinacertainperiodoftime

B.acountry’sforeigntradesbetweentheresidentsofacountryanditsnon-residentsforagivenperiodoftime

C.alleconomicandfinancialtransactionsbetweentheresidentsofacountryanditsnon-residentsforagivenperiodoftime

D.acountry’scapitalinflowsandoutflowsataparticulardateinagivenyear

8.ABritishpensionfundsellssomeofitsholdingsofthestocksofU.S.companiesinordertobuyU.S.corporatebonds.Thistransactionwillaffect__________.

A.theU.S.internationalinvestmentposition

B.theBritishinternationalinvestmentposition

C.bothcountries’internationalinvestmentposition

D.Noneoftheabove.Thisisbecausebothcountries’internationalinvestmentpositionunchanged,onlythecompositionofforeigninvestmentsinbothU.S.andU.K.changes.

9.Whichofth