第二章 国际货币管理 International Monetary Management：Chapter two focuses on the international monetary management. It summarizes the evolution and reform of international monetary system, examines the management of international price of currency such as the international exchange rate regimes and the determination of exchange rate, and ends up with the discussions of the international reserve management.2.1国际货币制度 International Monetary System:Section one depicts the six stages of the evolution of international monetary system, including bimetallism standard, classical gold standard, international monetary system during interwar period, Bretton Woods system, floating exchange rate regime, and emerging market and regime choice as well. In addition, it also extends the examination of the reform of international monetary system to Libra and DCEP.[单选题]
2.2国际货币价格管理 Management of International Price of Currency:Section two depicts the implications and quotations of exchange rate, explains the theories such as the impossible trinity and J-curve, describes the transaction of triangular arbitrage, introduces the current exchange rate regimes and/or arrangements on the basis of de jure and de facto classifications, explains the traditional and modern theories of exchange rate determination.
2.3国际储备管理 International Reserve Management:Section three explains the international reserve management by comparing international reserve with foreign reserve, introducing the rationale of the management of international reserve size, and discussing the techniques to manage the international reserve structure.
2.1国际货币制度 International Monetary System:Section one depicts the six stages of the evolution of international monetary system, including bimetallism standard, classical gold standard, international monetary system during interwar period, Bretton Woods system, floating exchange rate regime, and emerging market and regime choice as well. In addition, it also extends the examination of the reform of international monetary system to Libra and DCEP.
2.2国际货币价格管理 Management of International Price of Currency:Section two depicts the implications and quotations of exchange rate, explains the theories such as the impossible trinity and J-curve, describes the transaction of triangular arbitrage, introduces the current exchange rate regimes and/or arrangements on the basis of de jure and de facto classifications, explains the traditional and modern theories of exchange rate determination.
2.3国际储备管理 International Reserve Management:Section three explains the international reserve management by comparing international reserve with foreign reserve, introducing the rationale of the management of international reserve size, and discussing the techniques to manage the international reserve structure.
The Bretton Woods System is exposed to a dilemma known as _______.
, ethical dilemma
, two-pegging system
, impossible Trinity
]
[单选题]Rapid increases in the U.S. exports of goods and services will result in a(n) _____ foreign currency and a(n) _____ the U.S. dollars in the foreign exchange market.
[单选题]The _____ effect suggests that speculations can sometimes be destabilizing as the actions of the international investors move the exchange rate away from the long-run equilibrium value consistent with fundamental economic influences.
[单选题]Under a floating exchange rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in:
选项:[An appreciation of the yen vis-à-vis other currencies., Deflation in the Japanese economy., A depletion of international reserves held by the central bank of Japan., An increase in Japan’s trade deficit with other countries.]
[单选题]To maintain an undervalued currency, the country’s monetary authorities must intervene in the foreign exchange market to buy its currency in the foreign exchange market.（ ）
选项:[错, 对]
[单选题]
Price-specie-flow mechanism posits that the misalignment of exchange rate under the classical gold standard can be automatically corrected.（ ）
[单选题]The retail part of the foreign exchange market does not include traders at banks trading with:
选项:[national governments., nonfinancial companies that sometimes want to buy and sell different currencies., traders at other banks., stock brokers who trade in the assets of the firms in different nations.]
[单选题]Suppose the dollar per pound exchange rate is $2 per pound while the dollar per Swiss franc exchange rate is 50 cents per franc. From the given information we can conclude that the Swiss franc per pound exchange rate is:
选项:[1 franc per pound., too low., too high., 4 francs per pound.]
[单选题]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:
选项:[selling dollars in the 60-day forward exchange market., selling the yuan equivalent in the forward exchange market for 60-day delivery., keeping the dollars in the United States after they are delivered to you., buying dollars now and selling these dollars at the end of 60 days.]
[单选题]Based on PPP and the quantity theory of money, everything else remaining unchanged, if Japan’s real income rises relative to real income in the U.S., there would be a(n):
选项:[appreciation of the dollar., decrease in the demand for yen in the foreign exchange market., interest rate parity., appreciation of the yen.]
[单选题]Based on PPP and the quantity theory of money, everything else remaining unchanged, if Japan’s real income rises relative to real income in the U.S., there would be a(n):
选项:[interest rate parity., decrease in the demand for yen in the foreign exchange market., appreciation of the dollar., appreciation of the yen.]
[单选题]The retail part of the foreign exchange market does not include traders at banks trading with:
选项:[nonfinancial companies that sometimes want to buy and sell different currencies., stock brokers who trade in the assets of the firms in different nations., national governments., traders at other banks.]
[单选题]Suppose the dollar per pound exchange rate is $2 per pound while the dollar per Swiss franc exchange rate is 50 cents per franc. From the given information we can conclude that the Swiss franc per pound exchange rate is:
选项:[4 francs per pound., 1 franc per pound., too low., too high.]
[单选题]Rapid increases in the U.S. exports of goods and services will result in a(n) _____ foreign currency and a(n) _____ the U.S. dollars in the foreign exchange market.
[单选题]Under a floating exchange rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in:
选项:[An increase in Japan’s trade deficit with other countries., Deflation in the Japanese economy., An appreciation of the yen vis-à-vis other currencies., A depletion of international reserves held by the central bank of Japan.]
[单选题]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:
选项:[selling the yuan equivalent in the forward exchange market for 60-day delivery., keeping the dollars in the United States after they are delivered to you., selling dollars in the 60-day forward exchange market., buying dollars now and selling these dollars at the end of 60 days.]
[单选题]
The Bretton Woods System is exposed to a dilemma known as _______.
, Triffin Paradox
, ethical dilemma
, two-pegging system
]
[单选题]The _____ effect suggests that speculations can sometimes be destabilizing as the actions of the international investors move the exchange rate away from the long-run equilibrium value consistent with fundamental economic influences.
[单选题]To maintain an undervalued currency, the country’s monetary authorities must intervene in the foreign exchange market to buy its currency in the foreign exchange market.（ ）
选项:[对, 错]
[单选题]
Price-specie-flow mechanism posits that the misalignment of exchange rate under the classical gold standard can be automatically corrected.（ ）
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