国际金融双语期末a卷09.docx

国际金融双语期末a卷09.docx

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国际金融双语期末a卷09

国际金融双语期末A卷2009

　　　　　　浙江财经学院课程期末考试试卷　　浙江财经学院2009～2010学年第一学期　　密　　　　　　　　封　　　　　　　　线《国际金融（双语）》课程期末考试试卷　　考核方式：

闭卷　　　　考试日期：

2010年07月09日适用专业、班级：

08国际贸易1、2、3题号得分评卷人一二三四五六七八九十总分　　PartI:

Multiplechoice（1*30=30score）（onlyonechoiceforeachquestion）　　1.Whichofthefollowingtransactionsisrecordedinthefinancialaccount?

　　A）FordmotorcompanybuildsanewplantinChina　　B）AChinesebusinessmanimportsFordautomobilesfromtheUnitedStates.C）AtouristspendsmoneyonatriptoChina.　　D）TheNewYorkYankeesarepaid$10millionbytheChinesetoplayanexhibition　　gameinBeijing,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）wonperdollar　　B）wonperdollarC）$perwonD）$3perwon　　5.TotheUS,capitalinflowswillcreatea__________foreigncurrencyanda__________dollars.　　A）Demandfor;supplyofB）Supplyof;demandfor　　第1页，共14页　　专业、班级：

　　　　学号：

　　　　姓名：

浙江财经学院课程期末考试试卷　　C）Shortageof;demandfor　　D）Supplyof;shortageof　　6.importsofgoodsandserviceswillcreatea__________foreigncurrencyanda__________dollars.　　A）Demandfor;supplyof　　B）Supplyof;demandforC）Shortageof;demandfor　　D）Supplyof;shortageof　　thespotpriceoftheeurois$pereuroandthe30-dayforwardrateis$pereuro,andyoubelievethatthespotratein30dayswillbe$pereuro,youcanmaximizespeculativegainsby:

　　A）Buyingeurosinthespotmarketandsellingtheeurosin30daysatthefuturespot　　rate.　　B）Signingaforwardforeignexchangecontracttoselltheeurosin30days.　　C）Signingaforwardforeignexchangecontracttosellthedollarsin30days.　　D）Buyingdollarsinthespotmarketandsellingthedollarsin30daysatthefuturespot　　rate.　　　　youareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:

　　A）Sellingdollarsintheforwardmarketfor60-daydelivery.　　B）Buyingdollarsnowandsellingitattheendof60days.　　C）Sellingtheyuanequivalentintheforwardmarketfor60-daydelivery.D）KeepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.　　　　9.Theinterestrateintheis4%for90days,thecurrentspotrateis$/￡andtheforwardrateis$/￡.Ifthecoveredinterestratedifferentialisabout?

1%,thentheinterestrateinthefor90dayswouldhavetobe:

　　A）7%B）4%　　C）3%D）2%　　10.Ifthecoveredinterestdifferentialiszero:

　　A）Internationalinvestmentswillbeunprofitable.　　B）Parityhasnotbeenreached.　　C）Theoverallcoveredreturnonaforeign-currencyinvestmentequalsthe　　returnonacomparabledomestic-currencyinvestment.　　D）Acurrencyisataforwardpremiumbyasmuchasitsinterestrateishigher　　thantheinterestrateintheothercountry.　　　　11.Whenuncoveredinterestparityholds:

　　A）Acurrencyisexpectedtoappreciatebyasmuchasitsinterestrateislower　　thantheinterestrateintheothercountry.　　第2页，共14页　　浙江财经学院课程期末考试试卷　　B）Acurrencyisexpectedtoappreciatebyasmuchasitsinterestrateishigher　　thantheinterestrateintheothercountry　　C）Acurrencyisexpectedtodepreciatebyasmuchasitsinterestrateislower　　thantheinterestrateintheothercountry　　D）Theforwardpremiumequalstheinterestratedifferential.　　　　12.InternationalFisherEffectreferstotheconditionwhen:

　　A）Covereddifferentialequalszero.　　B）Expecteduncovereddifferentialequalszero.C）Uncoveredinterestparityholds.　　D）Both（B）and（C）.　　13.__________purchasingpowerparitystatesthatthedifferencebetweenchangesovertimeinproduct-pricelevelsintwocountrieswillbeoffsetbythechangeintheexchangerateoverthistime.　　A）FullB）Partial　　C）RelativeD）Absolute　　14.The__________approachtoexchangeratesemphasizestheimportanceofthesupplyanddemandformoneyasakeytounderstandingthedeterminantsofexchangerates.　　A）Purchasing-power-parity　　B）AssetmarketC）Monetary　　D）Balanceofpayments　　15.BasedonPPPandthequantitytheoryofmoney,ifJapan’srealincomerisesrelativetorealincomeintheUS,thereshouldbea（n）:

　　A）Appreciationofthedollar.　　B）Appreciationoftheyen.C）Interestrateparity.　　D）Depreciationoftheyen.　　16..The__________effectcansometimesbedestabilizingbecauseitmovestheexchangerateawayfromitslong-runequilibriumvalue.　　A）BandwagonB）BubbleC）ExchangerateD）Arbitrage　　17.Thelawof__________statesthataproductthatiseasilyandfreelytradedinaperfectlycompetitiveglobalmarketshouldhavethesamepriceeverywhere.　　A）Internationaltrade　　B）Oneprice　　C）Diminishingreturns　　D）RelativePPP　　18..Accordingtotherelativeversionofpurchasingpowerparity,whentheforeigncountryinflationrateincreases,thehomecountry’s:

　　第3页，共14页　　浙江财经学院课程期末考试试卷　　A）Currencytendstodepreciate.　　B）Currencytendstoappreciate.C）Inflationratetendstodecrease.　　D）Inflationratetendstostaythesame.　　19..Whichofthefollowingareinplacewhengovernmentimposeslimitsonorrequiresapprovalsforpaymentsrelatedtosome（orall）internationalfinancialactivities?

　　A）Exchangecontrols.B）Capitalcontrols.　　C）Officialinterventions.D）Adjustablepegs.　　20.PressuresintheforeignexchangemarketaresuchastocausetheBritishpoundtoappreciatewithrespecttothedollar.IfBritainistryingtomaintainafixedexchangeratewithrespecttothedollar,whichofthefollowinginterventionswillstemthepressuresforappreciationofthepound?

　　A）Britainshouldsellpoundsandbuydollars.　　B）Britainshoulddonothingasafixedratewillnotchange.　　C）Britainshouldbuypoundsandselldollars.　　D）Britainshoulddecreasetheirmoneysupplytocontracttheeconomy.　　21.Facedwitheverincreasingoutflowsofgoldinthelate1960’s,theUnitedStates:

　　A）Usedcontractionaryfiscalpoliciestoridthenationofdeficits.B）Devaluedthedollarintermsofgold.　　C）Suspendedtheconvertibilityofdollarsintogold.D）Imposedforeignexchangecontrols.　　22..Ifthemarginalpropensitytosaveisandthemarginalpropensitytoimportis,andthegovernmentincreasesexpendituresby$10billion,ignoringforeign-incomerepercussions（回流效应）,howmuchwillGDPrise?

　　A）$20billion.B）$10billion.C）$25billion.D）$15billion.　　IScurveillustrates:

　　A）Allcombinationsofdomesticoutputlevelsandinterestratesforwhichthedomestic　　productmarketisinequilibrium.　　B）Allcombinationsofdomesticoutputlevelsandinterestratesforwhichthedomesticmoneymarketisinequilibrium.　　C）Allcombinationsofdomesticoutputlevelsandinterestratesthatresultsinazero　　balanceforthecountry’sofficialsettlementsbalance.　　D）Allcombinationsofdomesticoutputlevelsandinterestratesforwhichthereisfull　　employment.　　LMcurvehasa:

　　A）Positiveslopebecauseahigherinterestrateleadstoadecreaseinthedemand　　formoneyandthusahigherlevelofdomesticproductionisneededtocausepeopletocontinuetoholdthesameamountofmoney.　　第4页，共14页　　浙江财经学院课程期末考试试卷　　B）Negativeslopebecauseahigherinterestrateleadstoadecreaseinthedemandformoneyandthusahigherlevelofdomesticproductionisneededtocausepeopletocontinuetoholdthesameamountofmoney.　　C）Negativeslopebecauseahigherinterestrateleadstoadecreaseinaggregate　　demandandthusalowerlevelofdomesticproductionisneededfor　　equilibrium.　　D）Positiveslopebecauseahigherinterestrateleadstoadecreaseinaggregate　　demandandthusahighermoneysupplyisneededforequilibrium.　　25.Officialinterventionintheforeignexchangemarkettodefendafixedexchangeratewhenthevalueofdomesticcurrencyisunderdownwardpressure:

　　A）Causesinternationalreserveholdingstorise.B）Hasnoimpactonthedomesticmoneysupply.C）Causesthedomesticmoneysupplytorise.D）Causesthedomesticmoneysupplytofall.　　26.Floatingexchangeratesensure:

　　A）Fullemploymentdomestically.　　B）Domesticpricestability.　　C）Equilibriumintheoverallbalanceofpayments.D）Asurplusinthetradebalance.　　27.Therearelimitstotheabilityofmonetaryauthoritiestousesterilizedinterventioninthecaseofasurplusbecause:

　　A）Thecentralbankmaybeunwillingtoincreaseitsholdingsofforeigncurrency.B）Pressurefromforeigncountriestoallowthedomesticcurrencytodepreciatewill　　leadtolargelosses.　　C）Thecentralbankislimitedinitsabilitytoobtainforeigncurrency.　　D）Therearenolimitsontheuseofsterilizedintervention.　　28.Underafloatingexchangerateregime,followinganexpansioninthemoneysupply,monetaryauthoritieswill:

　　A）Buyforeigncurrencyintheforeignexchangemarket.B）Buydomesticcurrencyintheforeignexchangemarket.　　C）Donothingintheforeignexchangemarket.　　D）Selldomesticcurrencyintheforeignexchangemarket.　　theIS-LM-FE