金融市场学双语题库及答案第十六章米什金《金融市场与机构》.docx

1、金融市场学双语题库及答案第十六章米什金金融市场与机构Financial Markets and Institutions, 8e (Mishkin)Chapter 16 The International Financial System 16.1 Multiple Choice1) A central bank sale of _ to purchase _ in the foreign exchange market results in an equal rise in its international reserves and the monetary base.A) foreign

2、 assets; domestic currencyB) foreign assets; foreign currencyC) domestic currency; foreign assetsD) domestic currency; domestic currencyAnswer: CTopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition2) A central bank sale of _ to purchase _ in the foreign ex

3、change market results in an equal decline in its international reserves and the monetary base.A) foreign assets; domestic currencyB) foreign assets; foreign currencyC) domestic currency; foreign assetsD) domestic currency; domestic currencyAnswer: ATopic: Chapter 16.1 Intervention if the Foreign Exc

4、hange MarketQuestion Status: Previous Edition3) A central bank _ of domestic currency and corresponding _ of foreign assets in the foreign exchange market leads to an equal _ in its international reserves and the monetary base.A) sale; purchase; declineB) sale; sale; increaseC) purchase; sale; incre

5、aseD) purchase; sale; declineAnswer: DTopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition4) A central bank _ of domestic currency and corresponding _ of foreign assets in the foreign exchange market leads to an equal _ in its international reserves and th

6、e monetary base.A) sale; purchase; increaseB) sale; sale; declineC) purchase; sale; increaseD) purchase; purchase; declineAnswer: ATopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition5) When the central bank allows the purchase or sale of domestic currency

7、 to have an effect on the monetary base, it is calledA) a sterilized foreign exchange intervention.B) an unsterilized foreign exchange intervention.C) an exchange rate feedback rule.D) a money-neutral foreign exchange intervention.Answer: BTopic: Chapter 16.1 Intervention if the Foreign Exchange Mar

8、ketQuestion Status: Previous Edition6) A foreign exchange intervention with an offsetting open market operation that leaves the monetary base unchanged is calledA) an unsterilized foreign exchange intervention.B) a sterilized foreign exchange intervention.C) an exchange rate feedback rule.D) a money

9、-neutral foreign exchange intervention.Answer: BTopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition7) An unsterilized intervention in which domestic currency is sold to purchase foreign assets leads toA) a gain in international reserves.B) an increase in

10、the money supply.C) an appreciation in the domestic currency.D) all of the above.E) only A and B of the above.Answer: ETopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition8) An unsterilized intervention in which domestic currency is sold to purchase foreig

11、n assets leads toA) a gain in international reserves.B) a decrease in the money supply.C) an appreciation in the domestic currency.D) all of the above.E) only A and B of the above.Answer: ATopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition9) A Federal Re

12、serve decision to sell dollars in order to buy foreign assets in the foreign exchange market has the same effect as an open market _ of bonds to _ the monetary base and the money supply.A) sale; decreaseB) purchase; decreaseC) sale; increaseD) purchase; increaseAnswer: DTopic: Chapter 16.1 Intervent

13、ion if the Foreign Exchange MarketQuestion Status: Previous Edition10) A Federal Reserve decision to purchase dollars by selling foreign assets in the foreign exchange market has the same effect as an open market _ of bonds to _ the monetary base and the money supply.A) sale; decreaseB) purchase; de

14、creaseC) sale; increaseD) purchase; increaseAnswer: ATopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition11) Because sterilized interventions mean offsetting open market operations, there is no impact on the monetary base and the money supply, and therefor

15、e a sterilized interventionA) causes the exchange rate to overshoot in the short run.B) causes the exchange rate to undershoot in the short run.C) causes the exchange rate to depreciate in the short run, but has no effect on the exchange rate in the long run.D) has no effect on the exchange rate.Ans

16、wer: DTopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition12) Because sterilized interventions mean offsetting open market operations,A) there is no impact on the monetary base.B) there is no impact on the money supply.C) there is no effect on the exchange

17、 rate.D) all of the above occur.E) only A and B of the above occur.Answer: DTopic: Chapter 16.1 Intervention if the Foreign Exchange MarketQuestion Status: Previous Edition13) The difference between merchandise exports and imports is called theA) current account balance.B) capital account balance.C)

18、 balance of payments.D) trade balance.Answer: DTopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition14) A current account _ indicates that the United States is _ its claims on foreign wealth.A) surplus; increasingB) surplus; decreasingC) deficit; increasingD) balance; decreasingAn

19、swer: ATopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition15) A current account _ indicates that the United States is _ its claims on foreign wealth.A) deficit; decreasingB) deficit; increasingC) surplus; decreasingD) balance; increasingAnswer: ATopic: Chapter 16.2 Balance of Pa

20、ymentsQuestion Status: Previous Edition16) Holding other factors constant, which of the following would decrease the size of the U.S. current account deficit?A) An increase in the amount of services purchased from foreignersB) An increase in the amount of goods purchases from foreignersC) An increas

21、e in the amount of goods sold to foreignersD) Only A and B of the aboveAnswer: CTopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition17) Holding other factors constant, which of the following would increase the size of the U.S. current account deficit?A) Sales of U.S. farm product

22、s in EuropeB) Visits by European tourists to the United StatesC) Increasing travel by American college students in EuropeD) Both A and B of the aboveAnswer: CTopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition18) The current account balance plus the capital account balance equal

23、sA) the amount of unsterilized exchange market intervention.B) the trade balance.C) the net change in government international reserves.D) both A and C of the above.Answer: CTopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition19) If the current account balance shows a surplus, an

24、d capital account receipts exceed capital account payments, then the net change in government international reserves must be _, indicating a(n) _ in U.S. international reserves.A) positive; increaseB) negative; increaseC) negative; decreaseD) positive; decreaseAnswer: ATopic: Chapter 16.2 Balance of

25、 PaymentsQuestion Status: Previous Edition20) Which of the following statements is correct?A) Current account balance = capital account balanceB) Current account balance = capital account balance + net change in government international reservesC) Current account balance + capital account balance =

26、net change in government international reservesD) Current account balance + net change in government international reserves = capital account balanceAnswer: CTopic: Chapter 16.2 Balance of PaymentsQuestion Status: Previous Edition21) The Bretton Woods system was one in which central banksA) agreed t

27、o limit domestic money growth to the average of the seven largest industrial nations.B) agreed not to intervene in the foreign exchange market to maintain a fixed exchange rate regime that had existed prior to World War I.C) agreed to limit domestic money growth to the average of the five largest in

28、dustrial nations.D) bought and sold their own currencies to keep their exchange rates fixed.Answer: DTopic: Chapter 16.3 Exchange Rate Regimes in the International Financial SystemQuestion Status: Previous Edition22) The Bretton Woods agreement created the _, which was given the task of promoting th

29、e growth of world trade by setting rules for the maintenance of fixed exchange rates and by making loans to countries that were experiencing balance of payments difficulties.A) IMFB) World BankC) Central Settlements BankD) Bank of International SettlementsE) European Exchange Rate Mechanism (ERM)Ans

30、wer: ATopic: Chapter 16.3 Exchange Rate Regimes in the International Financial SystemQuestion Status: Previous Edition23) The Bretton Woods agreement set up the _, which currently provides long-term loans to assist developing countries to build dams, roads, and other physical capital that contribute

31、s to economic development.A) International Monetary FundB) World BankC) Central Settlements BankD) Bank of International SettlementsE) European Exchange Rate Mechanism (ERM)Answer: BTopic: Chapter 16.3 Exchange Rate Regimes in the International Financial SystemQuestion Status: Previous Edition24) What kind of exchange rate system did the Bretton Woods agreement establish?A) FloatingB) Managed floatC) Dirty floatD) FixedAnswer: DTopic: