第二章测试1.
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):
A:decrease in the demand for yen in the foreign exchange market. B:appreciation of the yen. C:interest rate parity. D:appreciation of the dollar.
答案:B
2.
The retail part of the foreign exchange market does not include traders at banks trading with:
A:national governments. B:nonfinancial companies that sometimes want to buy and sell different currencies. C:stock brokers who trade in the assets of the firms in different nations. D:traders at other banks. 3.
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:
A:too high. B:too low. C:4 francs per pound. D:1 franc per pound. 4.
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.
A:shortage of foreign currency; surplus of B:increase in the demand for; increase in the supply of C:decrease in the supply of; decrease in the demand for D:increase in the supply of; increase in the demand for 5.
Under a floating exchange rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in:
A:Deflation in the Japanese economy. B:A depletion of international reserves held by the central bank of Japan. C:An increase in Japan’s trade deficit with other countries. D:An appreciation of the yen vis-à-vis other currencies. 6.
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 the yuan equivalent in the forward exchange market for 60-day delivery. B:selling dollars in the 60-day forward exchange market. C:buying dollars now and selling these dollars at the end of 60 days. D:keeping the dollars in the United States after they are delivered to you. 7.
The Bretton Woods System is exposed to a dilemma known as _______.
A:ethical dilemma
B:Triffin Paradox
C:two-pegging system
D:impossible Trinity
8.
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.
A:bandwagon B:exchange rate C:overshooting D:arbitrage 9.
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.（ ）
A:对 B:错 10.
Price-specie-flow mechanism posits that the misalignment of exchange rate under the classical gold standard can be automatically corrected.（ ）
A:对 B:错
