国际金融选择

第一章•1.Ifanation'sdomesticsavingsequals6andanation'sdomesticinvestmentequals10,thenthenationisexperiencing:–A.anetcapitaloutflow.–Banetcapitalinflow.–C.nonetcapitalinfloworoutflow.–D.acurrentaccountsurplus.•2.Ifdomesticinvestmentisgreaterthandomesticsaving,–A.expendituresequaldomesticincomeandnetexportsequalzero.B.expendituresaregreaterthandomesticincomeandnetexportsarenegative.C.expendituresarelessthandomesticincomeandnetexportsarepositive.D.expendituresaregreaterthandomesticincomeandnetexportsarepositivezero.•3.AcurrentaccountdeficitintheU.S.is:A.necessarilybadbecauseitrepresentsalackofdomesticsaving.B.necessarilygoodbecauseitrepresentsforeignsavingsintheU.S.C.necessarilybadbecauseitunderminestheU.S.'sabilitytoexperienceeconomicgrowth.–D.isneithergoodnorbad.•4.Thebalanceofpaymentssystem–A.isanothermethodforcalculatingGDP.–B.insuresthatthenetexportsarealwaysequaltozero.–C.measuresthetotalvalueofadomesticeconomy'stransactionswiththerestoftheworld.–D.attemptstolimitthefluctuationininternationalexchangerates.•5.Thebalanceonmerchandisetradeisacomponentof–A.thecurrentaccount.–B.thecapitalaccount.–C.foreigndirectinvestment.–D.portfolioinvestment.•6.Adebitentryinthebalanceofpaymentsaccountsrepresents–A.atransactionthatincludesapaymentfromabroadadomesticresident.–B.atransactionthatincludesapaymentabroadbyadomesticresident.–C.adecreaseinthecurrentaccountdeficit.–D.anincreaseinthecapitalaccountsurplus.•7.Whichofthefollowingtransactionsarenotincludedinthecurrentaccount?–A.Exportsofmanufacturedgoods.–B.Importsofmanufacturedgoods.–C.PaymentsofinterestanddividendsonforeignassetsheldbyadomesticU.S.resident.–D.ThepurchaseofforeignassetsbyadomesticU.S.resident.•8.Whenacountryfacesacurrentaccountdeficit,italsofaces:–A.aservicestradedeficit.–B.acapitalaccountdeficit.–C.acapitalaccountsurplus.–D.amerchandisetradedeficit.•9.Intermsofbalanceofpaymentsaccounting,whichofthefollowingwouldberecordedasadebitentry?–A.Exportsofmerchandise.–B.Exportsofservices.–C.Aforeigner'spurchaseofaU.S.Treasurebond.–D.AnincreaseinaU.S.citizen'saccountataforeignbank.•10.SupposeanAmericantouristtravelstoMexico,andusesU.S.dollarstopurchaseahotelroominMexicoCity.Thistransactionisrecordedasa–A.creditinthecurrentaccountanddebitinthecapitalaccount.–B.debitinthecapitalaccountandacreditinthecurrentaccount.–C.creditinthecapitalaccountanddebitinthecurrentaccount.–D.creditinthecapitalaccountanddebitinthecapitalaccount.•11.TheUnitedStatesiscurrentlyanetdebtornation.Thisnecessarilyimpliesthatthe–A.federalgovernmentowesmoneytoforeigninvestors.–B.valueofU.S.heldassetsabroadislowerthanthevalueofforeignheldassetsintheU.S.–C.valueoftheU.S.dollarislessthantheaveragevalueofforeigncurrencies.–D.U.S.isrunningadeficitinmanufacturedgoodstrade.•12.Afteraccountingforstatisticaldiscrepancies,acapitalaccount–A.surpluswillalwaysimplyacurrentaccountsurplus.–B.surpluswillalwaysimplyacurrentaccountdeficit.–C.surpluswillalwaysexceedtheassociatedcurrentaccountsurplus.–D.deficitwillalwaysexceedtheassociatedcurrentaccountsurplus.•13.Foreigndirectinvestmentisacomponentof–A.portfolioinvestment.–B.thecurrentaccount.–C.totaltradeinservices.–D.thecapitalaccount.•14.Inorderforthepurchaseofstockstobecategorizedasforeigndirectinvestment,itmustrepresentatleast_______percentoftheforeignentity'soutstandingstockA.1B.10C.25D.40•15.Purchasesofstockthataretoosmalltoobeconsideredforeigndirectinvestmentareclassifiedas–A.depreciation.–B.investmentspending.–C.portfolioinvestment.–D.capitalinvestment.第二章1.Forwhichofthefollowingsetsofexchangerateshasthecrossratebeencorrectlycalculated?–A.£1=2Swissfrancs;$1.50=£1;$1=0.75Swissfrancs–B.¥200=$1.00;1ringgit=$0.15;20ringgit=¥1–C.£1=1.5euro;3Swissfrancs=2euros;2.25Swissfrancs=£1–D.¥100=$1.00;1ringgit=$0.15;20ringgit=¥12.SupposetheexchangeratebetweentheU.S.dollarandtheCanadiandollaris1.37(C$/$),whiletheexchangeratefortheBritishpoundis0.66(£/$).WhatisthecrossrateofCanadiandollarstotheBritishpound(C$/£)?–A.2.08B.1.37C.0.66D.0.483.AnAmericantouristisplanningtovisitMexico.Theexchangerateatwhichthetouristcanbuypesosinaretailbankisthe:–A.bidprice.–B.askprice.–C.forwardrate.–D.crossrate.4.SupposethebidpriceofBritishpoundsis$1.49U.S.,andtheaskpriceis$1.51U.S.Whatisthebidaskmargin?–A.0.02%–B.0.99%–C.1.01%–D.1.32%5.Whichofthefollowingexchangeratesisadjustedforpricechanges?–A.Nominalexchangerate.–B.Realexchangerate.–C.Effectiveexchangerate.–D.Forwardexchangerate.6.ThetablebelowreportsthemovementsofpricesandexchangeratesfortheU.S.andIndonesiaoverayear'stime.（B）7.Theeffectiveexchangerateis–A.theexchangeratefacinglargebanksandotherhigh-volumetraders.–B.theexchangeratefacingretailcustomers.–C.thenominalexchangerateadjustedforinflation.–D.ameasureoftheweighted-averagevalueofacurrencyrelativetoaselectedgroupofcountries.8.TheSpecialDrawingRight(SDR)isa–A.meansbywhichbanksoffertheirbestclientspreferentialloanrates.–B.preliminaryformoftheproposedcommoncurrencyinEurope.–C.compositecurrencycreatedbytheInternationalMonetaryFund.–D.typeofbankaccountusedbycurrencytraders.9.IfU.S.demandfor