第五章测试1.
Among item (1)—(4), which are the basic assumptions of interest rate parity?
(1) Capital control; (2) No transactions costs; (3) Perfect substitutability of domestic and foreign assets;(4) Capital mobility
A: (1) (2) (3) B:(2) (3) (4) C:(1) (2) (3) (4) D:(3) (4)
答案:B
2.
Purchasing Power Parity (PPP) theory states that
A:as the purchasing power of a currency sharply declines (due to hyperinflation) that currency will depreciate against stable currencies. B:the prices of standard commodity baskets in two countries are not related. C:the exchange rate between currencies of two countries should be equal to the ratio of the countries' price levels. D:both a and b 3.
The International Fisher Effect suggests that
A:any forward premium or discount is equal to the actual change in the exchange rate. B:an increase (decrease) in the expected inflation rate in a country will cause a proportionate increase (decrease) in the interest rate in the country. C: any forward premium or discount is equal to the expected change in the exchange rate. D:the nominal interest rate differential reflects the expected change in the exchange rate. 4.
If a foreign county experiences a hyperinflation,
A:its currency may be unaffected—it's difficult to say. B:none of the above C:its currency will depreciate against stable currencies. D:its currency may appreciate against stable currencies. 5.
The forward price
A:may be the same as the spot price. B:all of the above. C:may be higher than the spot price. D:may be less than the spot price.
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