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国际金融（英文版）
- Assume you are an American importer who must pay 500,000 Euros at the end of 90 days when you receive 1,000 cases of French wine at your warehouse in New York. Suppose that you have not covered this transaction in the forward market. In which of the following cases will you suffer the largest loss?( )
- The LM curve illustrates all combinations of domestic output levels and interest rates for which( )
- Which of the following statements in connection with currency is true?( )
- The _____ approach to exchange rates emphasizes the role of portfolio repositioning by international financial investors.( )
- As the value of the yen falls relative to the U.S. dollar in the foreign exchange market( )
- Given the combination of PPP with quantity theory equations, which of the following statements is true?( )
- Suppose that U.S. prices rise 4 percent over the next year while prices in Mexico rise 6 percent. According to the purchasing power parity theory of exchange rates, which of the following should happen?( )
- Which of the following best describes a situation in which a country buys domestic currency in order to defend a pegged exchange rate, and also uses a policy in the domestic economy to prevent the domestic money supply from changing? ( )
- Assume that the exchange rates are fixed. When money demand is less sensitive to interest rate changes than are international capital flows, _____ policy will be _____ effective than when money demand is more sensitive to interest changes than are international capital flows.( )
- Official intervention in the foreign exchange market to defend a fixed exchange rate when the value of the country’s currency is under downward pressure causes:( )
- The quantity theory of the demand for money states that a country’s money demand is proportional to:( )
- The _____ approach to exchange rates emphasizes the importance of the supply and demand for money as a key to understanding the determinants of exchange rates.( )
- In the foreign exchange market, what could be a possible consequence of an increase in the purchase of stocks of Toyota, a Japanese automobile firm, by the U.S. residents?( )
- The U.S. dollar is called a _____ because it is often used as an intermediary to accomplish trading between two other currencies.( )
- Which of the following indicates taking an action to reverse the effect of official intervention on the domestic money supply? ( )
- 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, how much will GDP rise? ( )
- Which of the following is currently a main function of the International Monetary Fund (IMF)? ( )
- The exchange rate set for an immediate trade is often referred to as a( )
- For an investor who starts with dollars and wants to end up with dollars in the future, which of the following choices is an example that includes hedging?( )
- A country’s balance of payments records（ ）
- Which of the following capital transaction items is entered as a debit in the U.S. balance of payments?( )
- A country experiencing a current account surplus( )
- The net value of flows of goods, services, income, and unilateral transfers is described as the( )
- Under a floating exchange rate regime, following an expansion in the money supply, the change in the value of domestic currency is most likely to:（ ）
- Under a floating exchange rate regime with a high degree of capital mobility, a change in the exchange rate value of domestic currency following contractionary fiscal policy is most likely to:（ ）
- In the balance of payments, the statistical discrepancy is used to( )
- Assume that the FE curve is flatter than the LM curve. A negative external capital-flow shock shifts the FE curve left. Under zero sterilization, which one of the following will happen next? ( )
- _____ purchasing power parity states that the difference between changes over time in product-price levels in two countries will be offset by the change in the exchange rate over this time.( )
- At points above the IS curve, there is an _____ and at points below the IS curve there is an _____. ( )
- The central feature of the Bretton Woods system was( )
- An increase in a nation's financial liabilities to foreign residents is a( )
- When taking into account foreign-income repercussions, the spending multiplier is( )
- In a nation's balance of payments, which one of the following items is always recorded as a positive entry?( )
- Which of the following statements is true with respect to asset market approach to exchange rate?( )
- Which of the following can be considered as domestic assets of a country’s central bank? ( )
- An increase in the Australian exports of goods and services to USA will result in a(n) _____ U.S. dollar and a(n) _____ the Australian dollars in the foreign exchange market.( )
- The proportionate difference between the current forward exchange rate value of a currency and its current spot value is the _____ premium.( )
- Everything else remaining unchanged, the effect of domestic spending shocks on a country with a floating exchange rate differs depending on:（ ）
- An increase in the U.S. imports of goods and services from the EU countries will result in a(n) _____ euro and a(n) _____ the U.S. dollars in the foreign exchange market. ( )
- According to the relative version of purchasing power parity, when the inflation differential between the foreign country and the home country is positive:( )
- When the exchange rate is set now for a currency trade that will take place sometime more than a few days in the future is often referred to as a（ ）
- There are limits to the ability of monetary authorities to use sterilized intervention in the case of a surplus because:( )
- Under a floating exchange rate regime, the domestic currency will normally depreciate if the money supply:（ ）
- Assume you are an American importer who must pay 500,000 euros at the end of 90 days when you receive 1,000 cases of French wine at your warehouse in New York. If you do not hedge this transaction, you face exchange-rate risk. The best way to remove the risk of loss due to currency fluctuations is to( )
- Under a floating exchange rate regime in which the international capital flows are less responsive to changes in interest rate, the expansionary fiscal policy implemented by the domestic government will:( )
Which of the following financial instruments provides an option-holder a right to buy or sell a specified amount of currency at a stated pricewithin a prearranged expiration date?( )
- The weighted average exchange rate value of a country’s currency is called the _____ exchange rate. ( )
- With a(n) _____, the government allows the market to determine the exchange rate of a currency. ( )
- Under a floating exchange rate regime, in the very short run (before the exchange rate adjusts), expansionary fiscal policy will lead to:（ ）
- The initial impact of _____ the money supply _____ the balance of payments. ( )
- If a currency is at a forward premium by as much as its interest rate is lower than the interest rate in the other country, covered interest parity holds. （ ）
- “Dollarization” can be classified as a form of a fixed exchange rate.（ ）
- The asset market approach seeks to explain exchange rates by focusing on demands and supplies of national moneys. （ ）
- A central bank can sterilize the increase in the money supply that results from an intervention to defend a fixed exchange rate by selling domestic government bonds.（ ）
- Monetary policy is more effective with fixed exchange rates than with floating exchange rates.（ ）
- The cash flows under a futures contract should be settled on a daily basis with a marking to market system.（ ）
- The expansionary fiscal policy under a flexible exchange rate regime will appreciate the country’s currency and worsen the current account and national income.（ ）
- The amount of price inflation that the economy experiences eventually depends on the size of the spending multiplier.（ ）
- With respect to exchange rates, the 1997 Asian currency crisis caused the Thai, Malaysian, Indonesian, and Korean governments to give up their pegged or heavily managed exchange rates and move to floating exchange rates.（ ）
- In the long run, a country with a relatively high inflation rate tends to have a depreciating currency. （ ）
A:The euro spot exchange rate value vis-à-vis the dollar does not change B:The euro (spot) initially appreciates by 3 percent, and then depreciates by 2.9 percent C:The euro (spot) initially appreciates by 2 percent, and then depreciates by 1 percent D:The euro (spot) initially depreciates by 3 percent, and then appreciates by 2 percent
答案:appreaciates against USD
A:there is full employment. B:there is a zero balance for the country’s official settlements balance. C:the domestic product market is in equilibrium. D:the domestic money market is in equilibrium.
答案:government’s tax revenue.AI参考:正确选项是C:the domestic product market is in equilibrium。LM曲线用于描绘国内产出水平和利率之间的所有组合，当国内产品市场处于均衡状态时，表示市场上的货币数量与货币流通速度相等，即货币市场上的货币供求平衡。因此，选项C是正确答案。选项A和B与LM曲线的定义无关，选项D则表示的是国内货币市场的均衡状态，也不符合题意。'
A:The special drawing right (SDR) is a basket of currencies made up of U.S. dollars, euros, Chinese yuan, British pounds, and Japanese yen. B:Today, only China and Switzerland have currencies fixed to gold. C:Currencies whose prices are fixed to the same commodity would ensure that arbitrage will not work and exchange rates will be floating. D:A country maintains a floating exchange rate value to weaken the international value of its currency.
答案:They perform rituals and get momentary relief from the anxiety.
A:asset market B:monetary C:balance of payments D:elasticity
答案:MONETARY
A:Japanese goods become more expensive to the U.S. consumers. B:the demand for Japanese goods will increase in the U.S. market C:U.S. goods become less expensive to Japanese consumers. D:the supply of dollars will fall.
AI参考:正确选项是C:U.S. goods become less expensive to Japanese consumers。根据题目中的描述，日元相对于美元的价值下降，这意味着日元贬值，而美元升值。在这种情况下，对于日本消费者来说，他们可以用更少的美元购买到更多的美国商品，因此选项C“美国商品变得对日本消费者来说更便宜”是正确的。选项A和B描述的是商品价格的变化，但题目中并未提到价格变化；选项D描述的是美元供应的变化，但与题目描述的内容无关。'
A:Everything else remaining unchanged, the price of the foreign currency (e) would be reduced by an increase in the relative size of the money supply in the domestic economy. B:Everything else remaining unchanged, the price of the foreign currency (e) would be raised by an increase in the relative size of foreign production. C:The exchange rate would remain unaffected as long as the relative growth in productivity between the two nations remains constant, even if the relative money supply varies between the two economies. D:As long as the money supplies in the two countries are the same, the exchange rate will be equal to one
AI参考:正确答案是C：如果两个国家之间的相对生产率增长保持不变，那么汇率将保持不变，即使两个经济体的相对货币供应量发生变化。根据PPP与数量理论方程的组合，可以得出以下结论：如果两个国家之间的相对生产率增长保持不变，那么汇率将保持不变，即使两个经济体的相对货币供应量发生变化。因此，选项C是正确的。其他选项要么与题目描述不符，要么存在错误。选项A错误，因为货币供应量的增加会导致外汇价格下降，而不是上升；选项B错误，因为外汇价格的提高是由外汇的生产决定的，而不是由生产的外汇数量决定的；选项D错误，因为汇率是两个国家货币的相对价值，而不是两个国家货币数量的相等。'
A:The peso will depreciate B:The peso will be worth 1.5 dollars in the foreign exchange market C:The dollar will be worth 1.5 pesos in the foreign exchange market D:The dollar will depreciate
答案:increases.AI参考:答案为C:The dollar will be worth 1.5 pesos in the foreign exchange market。根据题目所述，美国的物价上涨了4%，而墨西哥的物价上涨了6%。按照购买力平价理论，如果其他因素不变，两国物价的上涨应该会导致货币购买力的变化。因此，在这种情况下，美元相对于比索的购买力应该下降，即美元贬值，所以选项A和D都是错误的。同时，根据题目所述，美元的价值应该是相对稳定的，因此选项B也是错误的。所以，唯一正确的答案是选项C：美元在外汇市场上将值1.5比索。这意味着美元相对于比索的价值下降了，而比索的价值上升了。因此，正确答案是C。'
A:Deficit without tears B:Official intervention C:Maintaining a crawling peg D:Sterilized intervention
AI参考:正确选项是C:Maintaining a crawling peg。根据题目描述，一个国家为了维护固定汇率而购买国内货币，同时也在国内经济政策上防止国内货币供应变化。这表明该国正在采取一种逐步盯住汇率的政策，即crawling peg。而选项C“Maintaining a crawling peg”正是描述这种情况的正确选项。其他选项如Deficit without tears（无泪赤字）、Official intervention（官方干预）和Sterilized intervention（冲洗干预）与题目描述不符。'
A:expansionary fiscal; more B:expansionary monetary; more C:expansionary fiscal; less D:sterilized intervention; more
A:the domestic money supply to fall. B:international reserve holdings to rise. C:an increase in the liabilities of the central bank. D:a downward pressure on the country’s interest rates.
A:the exchange rate. B:the domestic interest rate. C:the money value of gross domestic product. D:the level of domestic consumption.
A:balance of payments B:purchasing-power-parity C:asset market D:monetary
A:Demand for dollar will increase B:Yen will depreciate C:Supply curve for dollar will shift to the left D:Dollar will depreciate
A:vehicle currency B:main currency C:primary currency D:common currency
AI参考:正确答案是C:primary currency。根据题干中的句子“美元被称为主要货币，因为它通常被用作另一种货币之间交易的中介。”可知，美元是作为另一种货币交易的中介，因此它是一种主要货币，即主要货币是交易的主要媒介。因此，答案为C。其他选项的意思与句子不符。'
A:Adjusting the country’s interest rates B:Implementing capital controls C:Sterilization D:Playing by the “rules of the game”
A:$15 billion. B:$20 billion. C:$25 billion. D:$10 billion.
A:To house the world’s gold supply B:To loan money to developing countries to allow them to carry out programs that will improve the standard of living C:To set bilateral exchange rate values D:To loan reserves to countries that are attempting to finance temporary payments deficits
AI参考:正确选项是B:To loan money to developing countries to allow them to carry out programs that will improve the standard of living。国际货币基金组织（IMF）的主要功能之一是向发展中国家提供贷款，以帮助他们实施能够提高生活水平的计划。选项A是关于基金组织存储黄金的情况，选项C涉及双边汇率设定，选项D则与储备金贷款有关，但并非其主要功能。因此，B选项是正确答案。'
A:pegged exchange rate. B:managed exchange rate. C:spot exchange rate. D:forward exchange rate.
A:Buy a dollar-denominated financial asset B:Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and then buy dollars at the future spot rate C:Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and sign a forward exchange contract to buy dollars D:Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and sign a forward exchange contract to buy the foreign currency
A:the value of a country’s holdings of foreign assets, minus the value of foreign holdings of the country’s assets. B:the prices that a country pays for its imports and the prices that the country receives for its imports. C:the flows of value between that country’s residents and residents of the rest of the world during a period of time. D:capital gains and losses on a country’s international assets.
A:A U.S. resident sells his Credit Suisse stock to a French resident. B:A U.S. resident transfers $100 from his account at Credit Suisse in Basel (Switzerland) to his account at a San Francisco branch of Wells Fargo Bank. C:A U.S. resident sells his IBM stock to a French resident. D:A French resident transfers $100 from his account at Wells Fargo Bank in San Francisco to his Credit Suisse account in Basel.
AI参考:正确答案是B:A U.S. resident transfers $100 from his account at Credit Suisse in Basel (Switzerland) to his account at a San Francisco branch of Wells Fargo Bank。根据题目中的描述，美国居民从瑞士信贷银行账户转账到富国银行旧金山分行账户，这应该是一个借方交易，所以选项B是正确的。其他选项中，A选项是法国居民卖给美国居民的股票交易，C选项是法国居民卖给美国居民的IBM股票交易，D选项是法国居民从富国银行旧金山分行账户转账到瑞士信贷银行账户，这些交易都是贷方交易。因此，正确答案是B。'
A:must also have had a surplus in its overall payments balance. B:spends more than it earns on its merchandise and service trade, international income payments and receipts and international transfers. C:needs to borrow internationally. D:is able to lend internationally.
AI参考:正确答案是A。一个经历经常账户盈余的国家(must)同时也必须在整体付款余额上拥有盈余。根据问题的内容可知，一个经常账户盈余的国家（经常项目交易余额顺差），因此能够偿清全部欠款和应付的国际义务，选项A表述符合这个意思。选项B的描述错误，一个经常账户盈余的国家并不一定意味着其在商品和服务贸易、国际收入支付和收入、国际转移支付方面花费更多。选项C和D与问题内容无关，因此排除。因此，正确答案是A。'
A:official reserve balance. B:capital account balance. C:trade balance. D:current account balance.
A:increase demand for imports. B:lower the real product. C:increase demand for exports. D:initiate foreign capital inflow.
A:induce inflow of foreign capital. B:cause a surplus in the financial account. C:decrease the country’s holdings of official reserve assets. D:improve the current account.
A:ensure that the sum of all debits matches the sum of all credits. B:obtain an accurate account of a balance-of-payments surplus. C:show how a balance-of-payments deficit is funded. D:ensure that the value of imports equals the value of exports.
AI参考:正确选项是【D:ensure that the value of imports equals the value of exports.】。在收支平衡表中，统计差异用于确保进口值等于出口值，即进口与出口的金额相等。这是收支平衡表中一个基本的原则，也是统计差异的主要作用之一。其他选项A、B、C虽然也涉及收支平衡表，但并不是统计差异的主要作用。'
A:Because of the incipient balance of payments surplus, IS curve will shift leftward B:Because of the incipient balance of payments deficit, LM curve will shift leftward C:Because of the incipient balance of payments deficit, IS curve will shift rightward D:Because of the incipient balance of payments surplus, LM curve will shift rightward
AI参考:根据题意，因为负的外部资本流动冲击，会使资金易变性曲线向左移动。由于政策干预为零，平衡国际收支盈余的情况，因此在下一个阶段会发生什么，首先由于初始的国际收支盈余，投资支出曲线（IS曲线）会向左移动。因此，选项A：“由于初始的国际收支盈余，IS曲线会向左移动”是正确答案。'
A:Relative B:Partial C:Absolute D:Full
AI参考:正确答案是C:Absolute。\r原文中提到的“购买力平价”指出两个国家在同一时间的产品价格水平的差异，将由汇率在这段时间的变化来弥补，根据这段文字可知应该选择C项“绝对”。所以本题选C。'
A:excess supply of money; excess demand for money B:excess demand for money; excess supply of money C:excess demand for goods; excess supply of goods D:excess supply of goods; excess demand for goods
AI参考:答案为 B:excess demand for money; excess supply of moneyIS曲线以上，货币需求大于供给，利率上升，投资下降，所以是货币需求过剩，供给过剩，IS曲线以下，货币供给大于需求，利率下降，投资上升，所以是货币供给过剩。故选B。'
A:the use of an adjustable pegged exchange rate regime. B:the use of a floating exchange rate regime. C:the use of capital controls. D:official encouragement for one-way speculative gambles.
A:reserve outflow. B:reserve inflow. C:capital imports. D:capital exports.
A:larger because an increase in domestic imports causes a surplus in the official settlements balance. B:larger because an increase in domestic imports causes foreign income to rise and thus boosts domestic exports. C:smaller because an increase in domestic imports causes current account deficit. D:smaller because an increase in domestic imports lowers the growth in the domestic exports.
A:Imports of goods and services B:Changes in foreign currency reserves C:Military foreign aid supplied to allied nations D:Purchases by foreign travelers visiting the country
A:If the expected future spot exchange rate value of the foreign currency decreases, there will be international financial repositioning toward foreign-currency assets, thereby causing the domestic currency to depreciate. B:If the expected future spot dollar per euro exchange rate increases, there will be international financial repositioning toward the dollar-denominated assets thereby causing the euro to depreciate. C:If foreign interest rates increase, the domestic interest rate remaining unchanged, there will be international financial repositioning toward domestic-currency assets and the domestic currency will appreciate. D:If the domestic interest rate rises, there will be international financial repositioning toward domestic-currency assets, thereby causing the domestic currency to appreciate.
A:The country’s government bonds held by the central bank B:Bank deposits at the central bank C:Foreign currency assets held by the central bank D:Currency issued by the central bank
AI参考:正确选项是：A:国家中央银行持有的政府债券。因为政府债券属于中央银行的资产，它反映了中央银行所持有的债权和债务关系，对于国家来说是重要的经济资产。其他选项中，中央银行持有的银行存款和货币发行都是中央银行的负债，不属于中央银行的资产。因此，正确答案是A。'
A:decrease in the supply of; decrease in the demand for B:increase in the demand for; increase in the supply of C:shortage in ; surplus of D:increase in the supply of; increase in the demand for
AI参考:正确选项是 D:increase in the supply of; increase in the demand for。句子中提到澳大利亚对美国的商品和服务出口增加，这会导致外汇市场上美元供应量的增加和澳大利亚元需求量的增加。因此，选项D中的“增加供应”和“增加需求”与句子的意思相符。其他选项的意思与句子不符。例如，选项A中的“减少供应”和“减少需求”与句子意思相反；选项C中的“短缺”和“盈余”与句子中的增加和减少不符；选项B中的“增加需求”和“增加供应”没有明确说明外汇市场的情况，因此不能准确回答问题。'
A:investment B:currency-option C:forward D:frequent exchanger
AI参考:正确选项是C:forward。forward rate 是货币的远期汇率，指的是在未来某一确定的时间点，以当前市场汇率确定的货币对买卖汇率。而货币的当前Forward exchange rate value与其当前Spot value之间的比例差异就是forward premium。因此，选项C forward是正确答案。其他选项A、B、D与问题描述不符。'
A:the interest rate differential between the country and its trading partners. B:the mobility of capital across countries. C:whether sterilized intervention is used or not. D:the current trade balance situation of the country.
AI参考:正确答案是C:whether sterilized intervention is used or not。浮动汇率制下，国内支出冲击的效果取决于是否进行了冲销干预，即选项C是否使用了冲销干预。其他选项在浮动汇率制下不会影响国内支出冲击的效果。因此，本题的答案是C。'
A:increase in the demand for; increase in the supply of B:increase in the supply of; increase in the demand for C:decrease in the demand for; decrease in the supply of D:surplus of; shortage of
AI参考:正确选项是【A:increase in the demand for; increase in the supply of】。原文中提到“美国从欧盟国家进口的货物和服务增加”，根据常识和经济学原理，进口增加会导致对相关商品的需求增加，同时也会导致市场上相关货币的供应增加，因此选项A“需求增加”和“供应增加”符合原文意思。选项B、C、D都不符合原文意思，因此排除。'
A:the inflation rate in the home country overshoots. B:the domestic currency tends to depreciate. C:the inflation rate in the home country tends to decrease. D:the domestic currency tends to appreciate.
AI参考:正确选项是【B:the domestic currency tends to depreciate.】。根据购买力平价理论，当一个国家的通货膨胀率高于另一个国家时，本国货币相对于外币贬值。因此，选项B“国内货币趋于贬值”是正确的答案。选项A和C与通货膨胀率的变化无关，选项D则与贬值相反，国内货币趋于升值。'
A:pegged exchange rate. B:forward exchange rate. C:managed exchange rate. D:spot exchange rate.
AI参考:正确答案是B:forward exchange rate。forward exchange rate通常用于描述在未来一段时间内进行的货币交易的汇率，而选项B正是forward exchange rate的英文翻译。因此，答案为B。而其他选项的含义和此题无关，不正确。A、C、D三个选项在文中都没有提到，不符合题意。'
A:the pressure from foreign countries to allow the domestic currency to depreciate will lead to large losses. B:the central bank’s ability to constantly obtain foreign currency for the sterilized intervention is constrained. C:the export level is fixed and it cannot be allowed to drop. D:the central bank may be unwilling to increase its holdings of foreign currency.
AI参考:正确答案是B:the central bank’s ability to constantly obtain foreign currency for the sterilized intervention is constrained.。根据题干中的信息，货币当局在使用隔夜干预操作方面存在能力限制，这是因为隔夜干预所需的货币供应量相对较大，需要经常性地获取外汇。而选项B提到中央银行获取外汇的能力受到限制，这与题干中的描述相符。其他选项中，A选项涉及汇率贬值的风险，C选项涉及出口水平固定，D选项则涉及中央银行是否愿意增加外汇储备，这些因素与题干中的描述没有直接关系。因此，选项B是正确答案。'
A:does not change with the change in the exchange rates. B:contracts. C:expands. D:is managed to keep the country’s inflation rate steady.
AI参考:答案为C：扩张。在浮动汇率制度下，货币供应增加意味着国内货币通常会贬值，即外汇市场上的需求会增加，外汇的价格就会下降，也就是贬值。其他选项与此说法都不符合。推理过程：在浮动汇率制度下，汇率会根据外汇市场上的供需变化而变化。如果货币供应增加，这意味着市场上的货币供应量超过了实际需要，会导致外汇需求增加，价格下降，即贬值。因此，正确答案是C：货币供应增加。而选项A、B、D的情况与此不符。'
A:sell 500,000 euros now in the spot market. B:sell 500,000 euros in the forward exchange market for delivery after 60 days. C:buy 500,000 euros in the forward exchange market for delivery in 60 days. D:buy 500,000 euros now, hold them for 60 days, and then sell them at the spot exchange rate that exists 60 days from now.
AI参考:在考虑到风险波动时，对于交易货币风险最有效的应对策略是通过反向交易，例如卖出国外的同等金额。所以根据问题中的情况，我们可以知道你需要做的最好的事情就是在市场上立即出售这50万欧元的货币，也就是选项A:sell 500,000 euros now in the spot market。这将会确保你的收益或损失直接与市场汇率的变动相匹配，而不是在未来可能出现的变化。其他选项都未能直接对应风险的对冲操作，可能会导致未来出现预期之外的损失。因此，正确答案是A:sell 500,000 euros now in the spot market。'
A:foreign capital inflows decrease domestic product. B:the official settlements balance tends to go into surplus. C:the financial account balance deteriorates. D:the domestic interest rate increases.
AI参考:正确答案是B:the official settlements balance tends to go into surplus。在浮动汇率制度下，国际资本对利率的变化不太敏感，因此国内政府实施的扩张性财政政策会导致官方结算余额倾向于出现盈余，选项B正确。其他选项A、C、D都与扩张性财政政策的效果不符。A选项错误，因为扩张性财政政策通常会吸引外国资本流入，增加国内资本存量，促进经济增长；C选项错误，因为扩张性财政政策通常会降低国内利率，而不是提高；D选项错误，因为扩张性财政政策通常会降低国内利率，而不是增加国内利率。因此，正确答案是B。'
A:Letter of credit B:Forward contract C:Currency swap D:Currency option
AI参考:正确答案是D：Currency option。货币期权（Currency Option）是一种金融衍生工具，赋予期权持有者在一特定日期以特定价格购买或出售一定金额的货币的权利。因此，选项D“货币期权”是正确答案。其他选项A、B、C与题目描述不符。A选项的“信用证”主要用于货物贸易结算，与金融衍生工具无关；B选项的“远期合约”是一种在未来的某一确定时间，按确定的价格买卖某种金融产品的协议，同样与题目描述不符；C选项的“货币掉期”是一种交易双方在未来进行本币互换的交易，也不符合题目要求。'
A:nominal effective B:real bilateral C:real effective D:nominal bilateral
AI参考:正确答案是C:real effective。题干中提到该国的货币的加权平均汇率被称为名义有效汇率，根据语境和选项可知，此处是指该国的货币的真实有效汇率。因此，答案为C。A选项表示名义上的名义有效汇率，不符合语境；B选项表示实际的双边汇率，与语境不符；D选项表示名义双边汇率，与题意不符。'
A:crawling peg B:adjustable peg C:clean float D:dirty float
A:deterioration in current account but improvement in financial account. B:improvement in both current account and financial account. C:improvement in current account but deterioration in financial account. D:deterioration in both current account and financial account.
A:contracting; worsens B:expanding; worsens C:expanding; improves D:contracting; has no effect on
A:对 B:错
A:对 B:错
AI参考:答案：B。题目中给出的描述“Dollarization”可以被归类为固定汇率的一种形式，这个描述是不准确的。因为美元化是一种货币替代现象，它指的是使用美元作为记账本位币和主要支付手段，而不是一种固定的汇率制度。因此，该题描述是错误的。'
A:对 B:错
A:错 B:对
A:错 B:对
A:对 B:错
AI参考:题目中提到期货合约的现金流应基于每天的市场调整制度进行结算。这是期货交易的基本原则之一，因此答案为A：对。'
A:错 B:对
A:对 B:错
A:对 B:错
AI参考:答案：A。根据题干中的描述，1997年的亚洲金融危机导致泰国、马来西亚、印度尼西亚和韩国放弃了钉住或高度管理的汇率，转向浮动汇率。因此，这个陈述是正确的。所以答案是A。'
A:错 B:对
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