第二章测试1.
The price-specie-flow mechanism will work only if governments are willing to play by the rules of the game by letting the money stock rise and fall as gold flows in and out. Once the government demonetizes (neutralizes) gold, the mechanism will break down. In addition, the effectiveness of the mechanism depends on
A: the price elasticity of the demand for imports. B:the income elasticity of the supply of imports. C: the income elasticity of the demand for imports. D:the price elasticity of the supply of imports.
答案:A
2.
Under the Bretton Woods system each country established a par value for its currency in relation to the dollar. And the U.S. dollar was pegged to gold at
A:$35 per ounce. B: $350 per ounce. C:$900 per ounce. D: $1 per ounce. 3.
When money can move freely across borders, policy makers must choose between
A:exchange-rate stability and capital controls. B:exchange-rate stability and an independent monetary policy. C:exchange-rate stability and inflation. D:exchange-rate stability and an economic growth. 4.
During the period between World War I and World War II,
A: the major European powers and the U.S. returned to the gold standard and fixed exchange rates. B: None of the above. C:while most countries abandoned the gold standard during World War I, international trade and investment flourished during the interwar period under a coherent international monetary system. D:the U.S. dollar emerged as the dominant world currency, gradually replacing the British pound for the role. 5.
During the period of the classical gold standard (1875-1914) there were
A:moderately volatile exchange rates. B:volatile exchange rates. C: no exchange rates. D:stable exchange rates. E: highly volatile exchange rates.
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