国际经济学的国际金融部分的选择题练习.docx

1、国际经济学的国际金融部分的选择题练习Chapter 13: The Balance of PaymentsMultiple-choice Questions:1. Which of the following is false?A. A credit transaction leads to a payment from foreignersB. A debit transaction leads to a payment to foreigners*C. A credit transaction is entered with a negative signD. Double-entry b

2、ookkeeping refers to each transaction entered twice.2. Which of the following is a debit?A. The export of goodsB. The export of services*C. Unilateral transfers given to foreignersD. Capital inflows3. Capital inflows:A. refer to an increase in foreign assets in the nationB. refer to a reduction in t

3、he nations assets abroadC. lead to a payment from foreigners*D. all of the above4. When a U.S. firm imports goods to be paid in three months the U.S. credits:A. the current accountB. unilateral transfers*C. capitalD. official reserves5. The receipt of an interest payment on a loan made by a U.S. com

4、mercial bank to a foreign resident is entered in the U.S. balance of payments as a: A. credit in the capital account*B. credit in the current accountC. credit in official reservesD. debit in unilateral transfers6. The payment of a dividend by an American company to a foreign stockholder represents:A

5、. a debit in the U.S. capital accountB. a credit in the U.S. capital accountC. a credit in the U.S. official reserve account*D. a debit in the U.S. current account7. When a U.S. firm imports a good from England a pays for it by drawing on its pound sterling balances in a London Bank, the U.S. debits

6、 its current account and credits its:A. official reserve accountB. unilateral transfers accountC. services in its current account*D. capital account8. When the U.S. ships food aid to a developing nation, the U.S. debits:*A. unilateral transfersB. servicesC. capitalD. official reserves9. When the res

7、ident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds in a U.S. bank, the U.S.: A. credits capital for (1) and debits capital for (2)B. credits the current account and debits capitalC. debits capital and credits official reserves*D. debits capital for (1) and credits capital

8、 for (2)10. When a U.S. resident (1) purchases foreign treasury bills and pays by (2) drawing down his bank balances abroad, the U.S.:A. debits short-term capital and credits official reserves*B. debits capital for (1) and credits capital for (2) C. debits official reserves and credits capitalD. cre

9、dits short-term capital and debits official reserves 11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New York bank represents a: A. capital inflow*B. capital outflowC. outflow of official reservesD. debit in the current account 12. Which is not an official reserve a

10、sset of the U.S.?A. U.S. holdings of Special Drawing RightsB. The U.S. reserve position in the International Monetary Fund*C. Foreign official holdings of U.S. dollarsD. Official holdings of foreign currencies by U.S. monetary authorities13. The capital account of the U.S. includes:A. the change in

11、U.S. assets abroad and foreign assets in the U.S.*B. the change in U.S. assets abroad and foreign assets in the U.S., other than official reserve assetsC. all financial assetsD. all but current account transactions14. Accommodating items are:A. transactions in official reserve assetsB. the items bel

12、ow the lineC. needed to balance international transactions*D. all of the above15. Which of the following is false?*A. a net debit balance in the current and capital accounts measures the surplus in the nations balance of paymentsB. a balance of payments deficit must be settled by a net credit in the

13、 official reserve accountC. a deficit in the balance of payments can be measured by the excess of credits over debits in the official reserve accountD. a net debit balance in the official reserve account refers to a surplus 思考题：以2009年中美两国国际收支平衡表为例，分析两国国际经济交易呈现出哪些不同特征？战后美国出现大的贸易失衡，其原因和影响是什么？中国的外汇储备量世

14、界第一，其原因是？有何利弊？Chapter 14: Foreign Exchange Markets and Exchange RatesMultiple-choice Questions:1. Which is not a function of the foreign exchange market?A. to transfer funds from one nation to anotherB. to finance trade*C. to diversify risksD. to provide the facilities for hedging2. An increase in t

15、he pound price of the dollar represents: *A. an appreciation of the dollarB. a depreciation of the dollarC. an appreciation of the poundD. a devaluation of the dollar3. A change from $1=1 to $2=1 represents *A. depreciation of the dollarB. an appreciation of the dollarC. a depreciation of the poundD

16、. none of the above4. A shortage of pounds under a flexible exchange rate system results in:A. a depreciation of the pound*B. a depreciation of the dollarC. an appreciation of the dollarD. no change in the exchange rate5. An effective exchange rate is a:A. spot rateB. forward rateC. flexible exchang

17、e rates*D. weighted average of the exchange rates between the domestic currency and the nations most important trade partners6. The exchange rate is kept within narrow limits in different monetary centers by:A. hedging*B. exchange arbitrageC. interest arbitrageD. speculation7. If SR=$1/1 and the thr

18、ee-month FR=$0.99/1:*A. the euro is at a three-month forward discount of 1%B. the euro is at a forward discount of 1% per yearC. the euro is at a three-month forward premium of 1%D. the dollar is at a three-month forward discount of 1% 8. Hedging refers to:A. the acceptance of a foreign exchange ris

19、k*B. the covering of a foreign exchange riskC. foreign exchange speculationD. foreign exchange arbitrage 9. A U.S. importer scheduled to make a payment of 100,000 in three months can hedge his foreign exchange risk by:A. purchasing $100,000 in the forward market for delivery in three monthsB. sellin

20、g 100,000 in the spot market for delivery in three months*C. purchasing 100,000 in the forward market for delivery in three monthsD. selling 100,000 in the spot market for delivery in three months10. If the three-month FR=$1/1 and a speculator anticipates that SR=$1.02/1 in three months, he can earn

21、 a profit by: A. selling euros forward*B. purchasing euros forwardC. selling dollars forwardD. purchasing dollars forward11. Destabilizing speculation refers to the:*A. sale of the foreign currency when the exchange rate falls or is lowB. purchase of the foreign currency when the exchange rate falls

22、 or is lowC. sale of the foreign currency when the exchange rate rises or is highD. all of the above12. A capital outflow from New York to Frankfurt under covered interest arbitrage can take place if the interest differential in favor of Frankfurt is:A. smaller than the forward discount on the euro

23、B. equal to the forward discount on the euro *C. larger than the forward discount on the euro D. none of the above. 13. According to the theory of covered interest arbitrage, if the interest differential in favor of the foreign country exceeds the forward discount on the foreign currency, there will

24、 be a:A. capital inflow under covered interest arbitrage*B. capital outflow under covered interest arbitrageC. no capital flow under a covered interest arbitrageD. any of the above14. When the interest differential in favor of the foreign country is equal to the forward premium on the foreign curren

25、cy, we:A. are at covered interest arbitrage parity*B. are not at covered interest arbitrage parityC. may or may not be at covered interest arbitrage parityD. we cannot say without additional information15. The currency of the nation with the lower interest rate is usually at a*A. forward premium B.

26、forward discountC. covered interest arbitrage parityD. any of the above思考题：1. 我国外汇市场与美国等发达国家的外汇市场相比有什么不同？为什么？2. 为什么在浮动汇率之下国际收支逆差或顺差的测度并不是十分适当的？3. 如何看待以美国为首的国家要求人民币升值问题？4. 如何看待人民币国际化的前景？Chapter 15: Exchange Rate Determination Multiple-choice Questions:1. Which is correct with respect to the absolute

27、PPP theory?A. It postulates that the exchange rate between two currencies is equal to the ratio of the price levels in the two nationsB. it does not take into consideration transportation costs or other obstructions to the flow of international trade C. can be very misleading*D. all of the above2. T

28、he relative purchasing power-parity theory postulates that:A. The equilibrium exchange rate is equal to the ratio of the price level in the two nations*B. the change in the exchange rate over a period of time should be proportional to the relative change in the price level in the two nations over th

29、e same time periodC. the change in the exchange rate over a period of time should be proportional to the absolute change in the price level in the two nations over the same time periodD. the exchange rate at a period of time should be proportional to the relative prices in the two nations3. The rela

30、tive PPP theory gives better results:*A. in the long run than in the short runB. when structural changes take placeC. the greater is the level of commodity aggregationD. in tests including developed and developing countries4. The monetary approach to the balance of payments:A. views the balance of p

31、ayments as an essentially monetary phenomenonB. rests on the purchasing power-parity theoryC. postulates that money plays the crucial role in the long run both as a disturbance and adjustment in the nations balance of payments*D. all of the above5. If a nations money GDP is 100 and the velocity of circulation of money is 4, the quantity demanded of money in the nation is:A. 20*B. 25 C. 50 D. 1006. The monetary base of the nation refers to the:A. domestic credit created by the nations monetary authorities or the domestic assets backing of the nations money