2024春季國(guó)際金融學(xué)習(xí)通超星期末考試章節(jié)答案2024年Anycentralbanktransactioninprivatemarketsforforeigncurrencyassetsiscalledofficialforeignexchangeintervention.

答案:對(duì)GNPlessdepreciationiscallednetfactorproduct.

答案:錯(cuò)Acountryhasasurplusinitsbalanceofpaymentswhenitisrunningdownitsofficialinternationalreservesorborrowingfromforeigncentralbank.

答案:錯(cuò)Acountry'sgrossnationalproduct(GNP)isthevalueofallfinalgoodsproducedbyitsfactorsofproductionandsoldonthemarketinagiventimeperiod.

答案:錯(cuò)Anopeneconomycansaveeitherbybuildingupitscapitalstockorbyacquiringforeignwealth.

答案:對(duì)Investmentisusuallylessvariablethanconsumption.

答案:錯(cuò)Ifthegovernmentdeficitrisesandprivatesavingandinvestmentdonotchangemuch,thecurrentaccountsurplusmustfallbyroughlythesameaccountastheincreaseinthefiscaldeficit.

答案:對(duì)IfyouownashareofaGermanfirm’sstockandreceiveadividendpaymentof$5,thatpaymentshowsupinthefinancialmarket.

答案:錯(cuò)ThenationalincomeidentityforaclosedeconomyisY=C+I+G+EX-IM.

答案:錯(cuò)Thecurrentaccountequalsthecountry’snetlendingtoforeigners.

答案:對(duì)TheCAisequaltoY-(C+I+G).

答案:對(duì)NationalincomeequalsGNPlessdepreciation,plusnetunilateraltransfers.

答案:對(duì)Governmenttransferpaymentslikesocialsecurityandunemploymentbenefitsarenotincludedingovernmentpurchases,buttheyareincludedintheconsumptioncomponentofGNP.

答案:錯(cuò)Theofficialsettlementsbalanceorbalanceofpaymentsisthesumofthecurrentaccountbalanceandthecapitalaccountbalance.

答案:錯(cuò)Acountrywithacurrentaccountsurplusisearningmorefromitsexportsthanitspendsonimports.

答案:對(duì)Netunilateraltransfers（

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答案:OnlyAandCThesaleof

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答案:bothausedtextbookandausedhousedonotenterGNPPurchasesofinventoriesby

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答案:householdsandFirmsarealsocountedininvestmentspending.Whichofthefollowingisfalseaboutprivatesavingsandgovernmentsavings?（

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答案:Noneoftheabove;allstatementsaretrueAcountry’scurrentaccount

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答案:balanceequalsthechangeinitsnetforeignwealthGDPissupposedtomeasure

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答案:thevolumeofproductionwithinacountry’sbordersEveryinternationaltransactionautomaticallyentersthebalanceofpayments

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答案:twice,onceasacreditandonceasadebitGovernmentpurchasesaredefinedas

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答案:allgoodsandservicespurchasedbythefederal,state,orlocalgovernment.Whichofthefollowingistrue?

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答案:AlloftheabovearetrueofcurrentaccountbalancesGNPequalsGDP

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答案:plusnetreceiptsoffactorincomefromtherestoftheworldWhichoneofthefollowingexpressionsisthemostaccurate?

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答案:CA=EX-IMFormostmacroeconomics,(

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答案:nationalincomeaccountsandnationaloutputaccountsareequaltoeachotherInopeneconomies,_____(

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答案:savingandinvestmentarenotnecessarilyequalastheyareinaclosedeconomy.Aclosedeconomy

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答案:cansaveonlybybuildingupitscapitalstockInanopeneconomy,privatesavingisequalto

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答案:I+CA+(G-T)Ifthedollarinterestrateis10percent,theeurointerestrateis6percent,thenaninvestorshouldbeindifferentbetweendollarsandeurosiftheexpecteddollardepreciationagainsttheeurois4percent.

答案:對(duì)Thereturnondepositstradedintheforeignexchangemarketdependoninterestratesandexpectedexchangeratechanges.

答案:對(duì)Adepreciationofthedollaragainsteurotodaymakeseurodepositmoreattractiveontheconditionthatexpectedfuturedollar/eurorateandinterestratesdonotchange

答案:錯(cuò)Anappreciationofacountry'scurrencylowerstherelativepriceofitsexportsandraisestherelativepriceofitsimports.

答案:錯(cuò)Theexchangeratequotedasthepriceofforeigncurrencyintermsofdomesticcurrencyiscalledindirectquotation.

答案:錯(cuò)Thedollarissometimescalledavehiclecurrencybecauseofitspivotalroleinmanyforeignexchangedeals.

答案:對(duì)Forafixedinterestrate,ariseintheexpectedfutureexchangeratecausesariseinthecurrentexchangerate.

答案:對(duì)Theexchangerateavailabletocorporatecustomersareusuallymorefavorablethantheinterbankrates.

答案:錯(cuò)ThelargesttradingofforeignexchangeoccursinNewYork.

答案:錯(cuò)Thefuturedateonwhichthecurrenciesareactuallyexchangediscalled

答案:thevaluedateWhatistheexpecteddollarrateofreturnoneurodepositswithtoday'sexchangerateat$1.10pereuro,nextyear'sexpectedexchangerateat$1.166pereuro,thedollarinterestrateat10%,andtheeurointerestrateat5%?

答案:11%Whichofthefollowingisnotamajoractorintheforeignexchangemarket?

答案:touristsHowmanydollarswoulditcosttobuyanEdinburghWoolenMillsweatercosting50Britishpoundsiftheexchangerateis1.25dollarsperoneBritishpound?

答案:62.5dollarsAforeignexchangeswap

答案:isaspotsaleofacurrencycombinedwithaforwardrepurchaseofthecurrencyWhichofthefollowingisnotanexampleofafinancialderivative?

答案:bondsForwardandspotexchangerates

答案:domovecloselytogether,butarenotnecessarilyequalSupposethattheone-yearforwardpriceofeurosintermsofdollarsisequalto$1.113pereuro.Further,assumethatthespotexchangerateis$1.05pereuro,andtheinterestrateondollardepositsis10percentandoneuroitis4percent.Undertheseassumptions,_______________

答案:interestparitydoesholdWhatistheexchangeratebetweenthedollarandtheBritishpoundifapairofAmericanjeanscosts50dollarsinNewYorkand100PoundsinLondon?

答案:0.5dollarsperBritishpoundGivenPusandYus,whenthemoneysupplyrises,thedollarinterestratedeclinesandthedollarappreciatesagainsttheeuro.

答案:錯(cuò)Theexchangerateissaidtoovershootwhenitsimmediateresponsetoadisturbanceissmallerthanitslong-runresponse.

答案:錯(cuò)GivenPusandYus,AnincreaseintheEuropeanmoneysupplycausestheeurotodepreciateagainstthedollar,butitdoesnotdisturbtheU.S.moneymarketequilibrium.

答案:對(duì)Aneconomy’smoneysupplyiscontrolledbyitscommercialbanks.

答案:錯(cuò)Giventhepricelevelandoutput,anincreaseinthemoneysupplylowerstheinterestrate.

答案:對(duì)Aggregaterealmoneydemanddependsnegativelyontheinterestrateandpositivelyonthevolumeoftransactionsintheeconomy(measuredbyrealGNP).

答案:對(duì)TheaggregaterealmoneydemandscheduleL(R,Y)slopesdownwardbecauseafallintheinterestratereducesthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

答案:錯(cuò)Thehighertheinterestrate,themoreyousacrificebyholdingwealthintheformofmoney.

答案:對(duì)Themainbenefitofholdingmoneycomesfromitsliquidity.

答案:對(duì)Achangeinthesupplyofmoneyhasnoeffectonthelong-runvaluesoftheinterestrateorrealoutput.

答案:對(duì)Theaggregatemoneydemanddependson____

答案:theinterestrate,pricelevel,andrealnationalincomeIfindividualsareholdingmoremoneythantheydesire,_____________

答案:theywillattempttoreducetheirliquiditybyusingmoneytopurchaseinterest-bearingassetsAnindividual'sneedforliquiditywouldbeupif_____________

答案:theaveragevalueoftransactionscarriedoutbytheindividualroseApermanentincreaseinacountry'smoneysupply___________

答案:causesaproportionalincreaseinitspricelevelIfthereisinitially_______________

答案:excesssupplyofmoney,theinterestratefalls,andifthereisinitiallyanexcessdemand,itrises.Individualsbasetheirdemandforanasseton__

答案:theexpectedreturn,howriskythatexpectedreturnis,andtheasset'sliquidityTheaggregatedemandformoneycanbeexpressedby

答案:Md=P×L(R,Y)RelativePPPmaybevalidevenwhenabsolutePPPisnot,providedthefactorscausingdeviationsfromabsolutePPParemoreorlessstableovertime.

答案:對(duì)AbsolutePPPmaybevalidevenwhenrelativePPPisnot,providedthefactorscausingdeviationsfromrelativePPParemoreorlessstableovertime.

答案:錯(cuò)Thelong-runrelationshipbetweeninflationandexchangeratesiscalledFisherEffect.

答案:錯(cuò)Basedonthemonetaryapproach,otherthingsequal,apermanentriseintheU.S.moneysupplycausesaproportionallong-runappreciationofthedollaragainsteuro.

答案:錯(cuò)Underaflexible-pricemonetaryapproachtotheexchangerate,whenthedomesticmoneysupplyfalls,thepricelevelwouldfallrightaway,keepingtheinterestrateconstant.

答案:對(duì)Understickyprices,aninterestrateriseisassociatedwithlowerexpectedinflationandalong-runcurrencyappreciation,sothecurrencyappreciatesimmediately.

答案:對(duì)Goodsthatcanneverbetradedinternationallyataprofitarecallednontradables.

答案:對(duì)Thelawofonepricestatesthatincompetitivemarketsfreeofofficialbarriertotrade,identicalgoodsaresoldatthesamepriceregardlessoftransportationcosts.

答案:錯(cuò)Themonetaryapproachmakesthegeneralpredictionthattheexchangerate,whichistherelativepriceofAmericanandEuropeanmoney,isfullydeterminedintheshortrunbytherelativesuppliesofthosemoniesandtherelativedemandsforthem.

答案:錯(cuò)Whichofthefollowingstatementsisthemostaccurate?

答案:ThelawofonepriceappliestoindividualcommoditieswhilePPPappliestothegeneralpricelevelWhoamongthefollowinglistofpeopleisanearly20thcenturyeconomistfromYaleUniversitywhowrotethebookTheTheoryofInterest?

答案:IrvingFisherWhichofthefollowingstatementsisthemostaccurate?Ingeneral,_____________

答案:themonetaryapproachtotheexchangerateisalongruntheoryWhichofthefollowingstatementsisthemostaccurate?Ingeneral,underthemonetaryapproachtotheexchangerate,___________

答案:theinterestrateisnotindependentofthemoneysupplygrowthrateinthelongrunIntheshortrun,____________

答案:theinterestratecanrisewhenthedomesticmoneysupplyfallsUnderthemonetaryapproachtotheexchangerate,_____________

答案:aninterestrateincreaseisassociatedwithhigherexpectedinflationandacurrencythatwillbeweakeronallfuturedatesUnderPurchasingPowerParity,______________

答案:E$/E=PUS/PEAnincreaseintherealexchangeratemakesimportsmoreexpensive.

答案:對(duì)Ariseindomesticrealincomedecreasesaggregatedemandforhomeoutputbecauseoftheincreasedemandforimport.

答案:錯(cuò)Intheshort-run,weassumethatthemoneypricesofgoodsandservicesareallowedtofluctuate.

答案:錯(cuò)Inthelong-runequilibrium,afterapermanentmoney-supplyincrease,therewillbeanincreaseinexchangerate.

答案:對(duì)Apermanentfiscalexpansiondoesnotchangesexchange-rateexpectations.

答案:錯(cuò)Eitheranincreaseinthemoneysupplyortemporaryfiscaleasecanbeusedtomaintainfullemployment.Thetwopoliceshavenodifferenteffectsatall.

答案:錯(cuò)Apermanentfiscalexpansionhasnoexpansioneffectatall.

答案:對(duì)Thegreatertheupwardshiftoftheassetmarketequilibriumschedule,thegreatertheappreciationofthecurrency.

答案:錯(cuò)DisposableincomeisdefinedasY-I.

答案:錯(cuò)ApermanentincreaseinthedomesticmoneysupplymustultimatelyleadtoaproportionalriseinE,and,therefore,theexpectedfutureexchangeratemustriseproportionally.

答案:對(duì)Therealexchangerate,q,isdefinedas

答案:thepriceoftheforeignbasketintermsofthedomesticoneTheaggregatedemandforhomeinputcanbewrittenasafunctionof__________I.

Realexchangerate.II.

Governmentspending.III.

Disposableincome.

答案:I,II,andIIIWhichofthefollowingdoesnotaffectthepositionoftheDDcurve?

答案:monetarypolicyWhatistheeconomyatfullemploymentinthelongrun?

答案:WagesandthepriceleveleventuallyadjusttodevelopfullemploymentIntheshort-run,atemporaryincreaseinmoneysupply__________

答案:shiftstheAAcurvetotheright,increasesoutputanddepreciatesthecurrencyIftheeconomystartsinlong-runequilibrium,apermanentfiscalexpansionwillcause_______

答案:adecreaseinexchangerate,EWhendomesticandforeigncurrencybondsareimperfectsubstitutes,equilibriumintheforeignmarketrequiresthatthedomesticinterestrateequaltheexpecteddomesticcurrencyreturnonforeignbondssubtractariskpremium.

答案:錯(cuò)Underfixedexchangerate,devaluationcausesanexpansionofthemoneysupply.

答案:對(duì)Anycentralbanksaleofassetsautomaticallycausesthemoneysupplytodecline.

答案:對(duì)CentralBanksometimescarryoutequalforeignanddomesticassettransactionsinoppositedirectionstonullifytheimpactoftheirforeignexchangeoperationsonthedomesticmoneysupply.Thispolicyiscalledsterilizedforeignexchangeintervention.

答案:對(duì)Theexpectationofafuturedevaluationcausesariseinthehomeinterestrateabovetheworldlevel.

答案:對(duì)Withimperfectassetsubstitutability,evensterilized