国际金融双语期末A卷2.docx

1、国际金融双语期末A卷2专业、班级： 学号： 姓名：密 封 线浙江财经学院20092010学年第一学期 国际金融(双语)课程期末考试试卷（ A 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 号一二三四五六七八九十总分得 分评卷人（共 4大题）Part I: Multiple choice(1*30=30score)( only one choice for each question)1. Which of the following transactions is recorded in the financial account?A)

2、 Ford motor company builds a new plant in China B) A Chinese businessman imports Ford automobiles from the United States.C) A U.S. tourist spends money on a trip to China.D) The New York Yankees are paid $10 million by the Chinese to play an exhibition game in Beijing, China.2. In the balance of pay

3、ments, the statistical discrepancy or error term is used to:A) Ensure that the sum of all debits matches the sum of all credits.B) Ensure that imports equal the value of exports.C) Obtain an accurate account of a balance-of-payments deficit.D) Obtain an accurate account of a balance-of-payments surp

4、lus.3. A deficit in the overall balance generally is an indication that:A) The countrys monetary authorities were selling foreign currency.B) The countrys monetary authorities were buying foreign currency.C) The countrys monetary authorities were buying domestic currency.D) The countrys monetary aut

5、horities were buying imported goods.4. Suppose that a Korean television set that costs 600 won in Korea costs $400 in the United States. These prices suggest that the exchange rate between the won and the dollar is:A) 1.5 won per dollarB) 0.75 won per dollarC) $1.50 per wonD) $3 per won5. To the US,

6、 U.S. capital inflows will create a _ foreign currency and a _ U.S. dollars.A) Demand for; supply ofB) Supply of; demand forC) Shortage of; demand forD) Supply of; shortage of6. U.S. imports of goods and services will create a _ foreign currency and a _ U.S. dollars. A) Demand for; supply ofB) Suppl

7、y of; demand forC) Shortage of; demand forD) Supply of; shortage of7.If the spot price of the euro is $1.10 per euro and the 30-day forward rate is $1.00 per euro, and you believe that the spot rate in 30 days will be $1.05 per euro, you can maximize speculative gains by:A) Buying euros in the spot

8、market and selling the euros in 30 days at the future spot rate.B) Signing a forward foreign exchange contract to sell the euros in 30 days.C) Signing a forward foreign exchange contract to sell the dollars in 30 days.D) Buying dollars in the spot market and selling the dollars in 30 days at the fut

9、ure spot rate.8.Assume you are a Chinese exporter and expect to receive $250,000 at the end of 60 days. You can remove the risk of loss due to a devaluation of the dollar by:A) Selling dollars in the forward market for 60-day delivery.B) Buying dollars now and selling it at the end of 60 days.C) Sel

10、ling the yuan equivalent in the forward market for 60-day delivery.D) Keeping the dollars in the United States after they are delivered to you.9. The interest rate in the U.K. is 4% for 90 days, the current spot rate is $2.00/ and the forward rate is $1.96/. If the covered interest rate differential

11、 is about 1%, then the interest rate in the U.S. for 90 days would have to be:A) 7%B) 4%C) 3%D) 2%10. If the covered interest differential is zero:A) International investments will be unprofitable.B) Parity has not been reached.C) The overall covered return on a foreign-currency investment equals th

12、e return on a comparable domestic-currency investment.D) A currency is at a forward premium by as much as its interest rate is higher than the interest rate in the other country.11. When uncovered interest parity holds:A) A currency is expected to appreciate by as much as its interest rate is lower

13、than the interest rate in the other country.B) A currency is expected to appreciate by as much as its interest rate is higher than the interest rate in the other countryC) A currency is expected to depreciate by as much as its interest rate is lower than the interest rate in the other countryD)The f

14、orward premium equals the interest rate differential.12. International Fisher Effect refers to the condition when:A) Covered differential equals zero.B) Expected uncovered differential equals zero.C) Uncovered interest parity holds.D) Both (B) and (C).13. _ purchasing power parity states that the di

15、fference between changes over time in product-price levels in two countries will be offset by the change in the exchange rate over this time. A) FullB) PartialC) RelativeD) Absolute14. The _ approach to exchange rates emphasizes the importance of the supply and demand for money as a key to understan

16、ding the determinants of exchange rates. A) Purchasing-power-parityB) Asset marketC) MonetaryD) Balance of payments15. Based on PPP and the quantity theory of money, if Japans real income rises relative to real income in the US, there should be a(n):A) Appreciation of the dollar.B) Appreciation of t

17、he yen.C) Interest rate parity.D) Depreciation of the yen.16.The _ effect can sometimes be destabilizing because it moves the exchange rate away from its long-run equilibrium value. A) BandwagonB) BubbleC) Exchange rateD) Arbitrage17. The law of _ states that a product that is easily and freely trad

18、ed in a perfectly competitive global market should have the same price everywhere. A) International tradeB) One priceC) Diminishing returnsD) Relative PPP18.According to the relative version of purchasing power parity, when the foreign country inflation rate increases, the home countrys:A) Currency

19、tends to depreciate.B) Currency tends to appreciate.C) Inflation rate tends to decrease.D) Inflation rate tends to stay the same.19.Which of the following are in place when government imposes limits on or requires approvals for payments related to some (or all) international financial activities?A)

20、Exchange controls.B) Capital controls.C) Official interventions.D) Adjustable pegs.20. Pressures in the foreign exchange market are such as to cause the British pound to appreciate with respect to the U.S. dollar. If Britain is trying to maintain a fixed exchange rate with respect to the U.S. dollar

21、, which of the following interventions will stem the pressures for appreciation of the pound? A) Britain should sell pounds and buy dollars.B) Britain should do nothing as a fixed rate will not change.C) Britain should buy pounds and sell dollars.D) Britain should decrease their money supply to cont

22、ract the economy.21. Faced with ever increasing outflows of gold in the late 1960s, the United States:A) Used contractionary fiscal policies to rid the nation of deficits.B) Devalued the dollar in terms of gold.C) Suspended the convertibility of dollars into gold.D) Imposed foreign exchange controls

23、.22. .If the marginal propensity to save is 0.3 and the marginal propensity to import is 0.1, and the government increases expenditures by $10 billion, ignoring foreign-income repercussions(回流效应), how much will GDP rise?A) $20 billion.B) $10 billion.C) $25 billion.D) $15 billion.23.The IS curve illu

24、strates:A) All combinations of domestic output levels and interest rates for which the domestic product market is in equilibrium.B) All combinations of domestic output levels and interest rates for which the domestic money market is in equilibrium.C) All combinations of domestic output levels and in

25、terest rates that results in a zero balance for the countrys official settlements balance.D) All combinations of domestic output levels and interest rates for which there is full employment.24.The LM curve has a:A) Positive slope because a higher interest rate leads to a decrease in the demand for m

26、oney and thus a higher level of domestic production is needed to cause people to continue to hold the same amount of money.B) Negative slope because a higher interest rate leads to a decrease in the demand for money and thus a higher level of domestic production is needed to cause people to continue

27、 to hold the same amount of money.C) Negative slope because a higher interest rate leads to a decrease in aggregate demand and thus a lower level of domestic production is needed for equilibrium.D) Positive slope because a higher interest rate leads to a decrease in aggregate demand and thus a highe

28、r money supply is needed for equilibrium.25. Official intervention in the foreign exchange market to defend a fixed exchange rate when the value of domestic currency is under downward pressure:A） Causes international reserve holdings to rise.B） Has no impact on the domestic money supply.C） Causes th

29、e domestic money supply to rise.D） Causes the domestic money supply to fall.26. Floating exchange rates ensure:A) Full employment domestically.B) Domestic price stability.C) Equilibrium in the overall balance of payments.D) A surplus in the trade balance.27. There are limits to the ability of moneta

30、ry authorities to use sterilized intervention in the case of a surplus because:A) The central bank may be unwilling to increase its holdings of foreign currency.B) Pressure from foreign countries to allow the domestic currency to depreciate will lead to large losses.C) The central bank is limited in

31、 its ability to obtain foreign currency.D) There are no limits on the use of sterilized intervention.28. Under a floating exchange rate regime, following an expansion in the money supply, monetary authorities will:A) Buy foreign currency in the foreign exchange market.B) Buy domestic currency in the foreign exchange market.C) Do nothing in the foreign exchange market.D) Sell domestic currency in the foreign exchange market.29.Given the IS-LM-FE framework and an overall payments balance of zero, if th