第一章 国际收支管理Management of Balance of Payments：Chapter one examines the management of balance of payments by introducing the national economic accounting of balance of payments, comparing the balance of payments statement with the international investment position, explaining the macromeanings of current account balance and official settlement balance, and illustrating the classical theories of balance of payments, such as the elasticity approach, multiplier approach, absorption approach and monetary approach as well.1.1国际收支的国民经济核算National Economic Accounting of Balance of Payments:Section one depicts the balance of payments to record the flows of international transactions during a certain period of time and the international investment position to indicate the stocks of foreign assets and liabilities held by one nation at a certain point in time. In addition, it explains the rationale of double-entry bookkeeping principle to record the international transactions with the BOPs statement flows.[单选题]If the balance of payments accounts of a country shows a current account deficit, it means that:
1.2国际收支的支付差额Payments Balances:Section two sums up the six main types of payments balance depending on the net balance of one or more flows involved in the balance of payments statement, mainly explains the macromeanings of current account balance by connecting it with net foreign investment, national savings and domestic investment, as well as domestic product and national expenditures, and also discusses the macromeanings of official settlement balance and payments imbalance.
1.3国际收支的经典理论 Classical Theories of Balance of Payments:Section three introduces the theories of balance of payments which are the important basis for the policies to regulate external economy and reestablish payments balance by different national governments. From the perspective of economics, these theories mainly encompass the elasticity approach, multiplier approach, absorption approach and monetary approach.
1.1国际收支的国民经济核算National Economic Accounting of Balance of Payments:Section one depicts the balance of payments to record the flows of international transactions during a certain period of time and the international investment position to indicate the stocks of foreign assets and liabilities held by one nation at a certain point in time. In addition, it explains the rationale of double-entry bookkeeping principle to record the international transactions with the BOPs statement flows.
1.2国际收支的支付差额Payments Balances:Section two sums up the six main types of payments balance depending on the net balance of one or more flows involved in the balance of payments statement, mainly explains the macromeanings of current account balance by connecting it with net foreign investment, national savings and domestic investment, as well as domestic product and national expenditures, and also discusses the macromeanings of official settlement balance and payments imbalance.
1.3国际收支的经典理论 Classical Theories of Balance of Payments:Section three introduces the theories of balance of payments which are the important basis for the policies to regulate external economy and reestablish payments balance by different national governments. From the perspective of economics, these theories mainly encompass the elasticity approach, multiplier approach, absorption approach and monetary approach.
[单选题]The J curve shows that:
选项:[devaluation is likely to be unstable.
, devaluation is more likely to improve the trade balance after a longer span of time has elapsed.
, devaluation is more likely to improve the trade balance in the short-run than in the long-run.
, devaluation is unlikely to improve the trade balance in either the short-run or the long-run.
]
[单选题]Which of the following would tend to contribute to a U.S. current account surplus?
选项:[Russian vodka becomes increasingly popular in the United States., The United States cuts back on American military personnel stationed in Japan., The United States makes a unilateral tariff reduction on imported goods., U.S. tourists travel in large numbers to Asia.]
[单选题]Official reserve assets are：选项:[government holdings of SDR’s., the gold holdings in the nation’s central bank., money like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them., government T-bills and T-bonds.]
[单选题]If the overall balance in the balance of payments account is in _____, there can be an accumulation of official reserve assets by the country or a decrease in foreign official reserve holdings of the country's assets.
[单选题]A statement of the stocks of a country’s foreign assets and foreign liabilities at a point in time represents the country’s:
[单选题]Marshall-Lerner condition is that the payments deficit will be improved as a result of currency depreciation only if_______ .选项:[the sum of elasticity of demand for goods import and that for goods export equals one., the sum of elasticity of demand for goods import and that for goods export is larger than one., the sum of elasticity of demand for goods import is greater than that for goods export., the sum of elasticity of demand for goods import and that for goods export is less than one.]
[单选题]A country's nonofficial financial account balance equals its net foreign investment.（ ）
选项:[对, 错]
[单选题]The net flow of financial assets and similar claims is the private current account balance.（ ）
选项:[错, 对]
[单选题]According to the absorption approach to balance of payments, if a nation’s national income is less than its national expenditure, it will ________.
[单选题]The J curve shows that:
选项:[devaluation is likely to be unstable.
, devaluation is more likely to improve the trade balance after a longer span of time has elapsed.
, devaluation is unlikely to improve the trade balance in either the short-run or the long-run.
, devaluation is more likely to improve the trade balance in the short-run than in the long-run.
]
[单选题]Which of the following would tend to contribute to a U.S. current account surplus?
选项:[Russian vodka becomes increasingly popular in the United States., The United States makes a unilateral tariff reduction on imported goods., U.S. tourists travel in large numbers to Asia., The United States cuts back on American military personnel stationed in Japan.]
[单选题]Official reserve assets are：选项:[government holdings of SDR’s., money like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them., the gold holdings in the nation’s central bank., government T-bills and T-bonds.]
[单选题]If the overall balance in the balance of payments account is in _____, there can be an accumulation of official reserve assets by the country or a decrease in foreign official reserve holdings of the country's assets.
[单选题]A statement of the stocks of a country’s foreign assets and foreign liabilities at a point in time represents the country’s:
[单选题]If the balance of payments accounts of a country shows a current account deficit, it means that:
[单选题]Marshall-Lerner condition is that the payments deficit will be improved as a result of currency depreciation only if_______ .选项:[the sum of elasticity of demand for goods import is greater than that for goods export., the sum of elasticity of demand for goods import and that for goods export is larger than one., the sum of elasticity of demand for goods import and that for goods export equals one., the sum of elasticity of demand for goods import and that for goods export is less than one.]
[单选题]According to the absorption approach to balance of payments, if a nation’s national income is less than its national expenditure, it will ________.
[单选题]The net flow of financial assets and similar claims is the private current account balance.（ ）
选项:[错, 对]
[单选题]A country's nonofficial financial account balance equals its net foreign investment.（ ）
选项:[错, 对]
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