第1題Foreignexchangeis:(

)ATheactoftradingdifferentnations'monies.BTheholdingsofforeigncurrency.CTheactofimportingforeigngoodsandservicesDBoth(A)and(B)arecorrect.第2題IfthepriceofBritishpoundsintermsofU.S.dollarsis$1.80perpound,thenthepriceofU.S.dollarsintermsofBritishpoundsis:(

)A1.80￡perdollar.B0.555￡perdollar.C0.90￡perdollar.D3.60￡perdollar.第3題Theforeignexchangemarketis:(

)AAsinglegatheringplacewheretradersshoutbuyandsellordersateachother.BLocatedinNewYork.CAgrouping,byelectronicmeans,ofbanksandtraderswhoworkatbanksthatconductforeignexchangetrades.DLocatedinLondon.第4題WhichofthefollowingisNOTafunctionoftheinterbankoperationsoftheforeignexchangemarket?

(

)AProvidesabankwithacontinuousstreamofinformationonconditionsintheforeignexchangemarket.BProvidesabankthemeanstoreadjustitsownpositionquicklyandatlowcost.CPermitsabanktotakeonapositioninaforeigncurrencyquickly.DProvidesabankwithtechnologicalresourcesforuseinforeignexchangetrading.第1題The________exchangerateisthepricefor“immediate”currencyexchange.ACurrentBForwardCFutureDSpot第2題SupposetheexchangeratebetweentheJapaneseyenandtheU.S.dollaris100yenperdollar.AJapanesestereowithapriceof60,000yenwillcost:(

)A$1,667B$600C$6,000D$100第3題SupposethataKoreantelevisionsetthatcosts600woninKoreacosts$400intheUnitedStates.Thesepricessuggestthattheexchangeratebetweenthewonandthedollaris:(

)A1.5wonperdollarB0.75wonperdollarC$1.50perwonD$3perwon第4題TheU.S.dollariscalleda________becauseitisoftenusedasanintermediarytoaccomplishtradingbetweentwoothercurrencies.AVehiclecurrencyBMaincurrencyCCommoncurrencyDPrimarycurrency1.3Quiz第1題Exchangeratesareequalizedindifferentlocationsdueto:(

)AArbitrageBGovernmentinterventioninforeignexchangemarketsCFreetradeingoodsandservicesDTheactionsofimportersandexporters第2題HowcouldyouprofitiftheexchangerateinLondonwas$2/￡

whileinNewYorktheexchangeratewas$1.95per

pound?ABuydollarsinNewYorkandselltheminLondon.BBuypoundsinLondonandselltheminNewYork.CBuypoundsinNewYorkandselltheminLondon.DBuydollarsinLondonandsellpoundsinNewYork.第3題Forwhichofthefollowingsetsofexchangerateshasthecrossratebeencorrectlycalculated?A￡1=2Swissfrancs;1.50=￡1;1=0.75SwissfrancsB￥200=1.00;1ringgit=0.15;

20ringgit=￥1C￡2=3euro;6Swissfrancs=4euros;4.5Swissfrancs=￡2D￥100=1.00;1ringgit=0.15;

20ringgit=￥11.4Quiz第1題Thisinventorycontroleffectonexchangeratescanexplainwhytradersmayaltertheirquotesintheabsenceofanynewsaboutexchangeratefundamentals.第2題Thereisalsoanasymmetricinformationeffect,whichcausesexchangeratestochangeduetotraders'fearsthattheyarequotingpricestosomeonewhoknowsmoreaboutcurrentmarketconditionsthantheydo.第3題Lyons(1995)estimatedthatthepresenceofasymmetricinformationamongtradersresultedintheaveragechangeinthequotedpricebeing0.00014per$10milliontraded.1.5Quiz第1題

AsthevalueoftheyenfallsrelativetotheU.S.dollar:(

)AJapanesegoodsbecomemoreexpensivetoU.S.consumers.BThesupplyofdollarswillfall.CThedemandforyenwillrise.DU.S.goodsbecomelessexpensivetoJapaneseconsumers.第2題Thedemandcurveforforeigncurrencyslopesdownwardbecauseastheexchangerate________thequantitydemanded________.AIncreasesdecreasesBIncreasesincreasesCDecreasesdecreasesDDecreasesstaysfixed第3題ShiftsindemandawayfromFrenchproductsandtowardU.S.products(causedbyforcesotherthanchangesintheexchangerate)wouldresultinextraattemptsto________eurosand________dollars.ABuybuyBSellsellCSellbuyDBuysellUnitTest1第1題__________foreignexchangetradinginvolvescurrencyexchangesdonebetweenindividualsandbanks.AInterbankBConsumerCIntra-bankDRetail第2題TheU.S.dollariscalleda________becauseitisoftenusedasanintermediarytoaccomplishtradingbetweentwoothercurrencies.AVehiclecurrencyBMaincurrencyCCommoncurrencyDPrimarycurrency第3題SupposethattheexchangevalueoftheBritishpoundis$2perpoundwhiletheexchangevalueoftheSwissfrancis50centsperfranc.Fromthiswecanconcludethat

theexchangeratebetweenthepoundandthefrancis:(

)A1francperpoundB2francsperpoundC3francsperpoundD4francsperpound第4題WhichofthefollowingisNOTafunctionoftheinterbankoperationsoftheforeignexchangemarket?()AProvidesabankwithacontinuousstreamofinformationonconditionsintheforeignexchangemarket.BProvidesabankthemeanstoreadjustitsownpositionquicklyandatlowcost.CPermitsabanktotakeonapositioninaforeigncurrencyquickly.DProvidesabankwithtechnologicalresourcesforuseinforeignexchangetrading.第5題Interbanktradingisconducteddirectlybetween__________orthroughtheuseof__________thatprovideanonymityuntilthetradeiscompleteandreducesearchcosts.ATraders,brokersBBrokers,

tradersCIndividualconsumers,thegovernmentDIndividualconsumers,brokers第6題Ina________exchangeratesystem,thereisnointerventionbythegovernmentorcentralbankers.AFixedBPeggedCFloatingDManagedfloat第7題AsthevalueoftheyenfallsrelativetotheU.S.dollar:(

)AJapanesegoodsbecomemoreexpensivetoU.S.consumers.BThesupplyofdollarswillfall.CThedemandforyenwillrise.DU.S.goodsbecomelessexpensivetoJapaneseconsumers.第8題Thedemandcurveforforeigncurrencyslopesdownwardbecauseastheexchangerate________thequantitydemanded________.AIncreases,decreasesBIncreases,

increasesCDecreases,decreasesDDecreases,staysfixed第9題ShiftsindemandawayfromFrenchproductsandtowardU.S.products(causedbyforcesotherthanchangesintheexchangerate)wouldresultinextraattemptsto________eurosand_______dollars.ABuy,

buyBSell,

sellCSell,

buyDBuy,sell第10題Otherthingsequal,ifAmericanexportstoJapanincreaseandAmericanimportsfromJapandecrease,thenunderafloatingexchangeratesystem,wewouldexpectthedollarto:(

)AWeakenagainsttheJapaneseyen.BDepreciateagainsttheJapaneseyen.CDevalueagainsttheJapaneseyen.DStrengthenagainsttheJapaneseyen.第11題AdecreaseinGermanresidents'willingnesstoinvestindollar-denominatedassetswillshiftthedemandcurvefor:(

)AEurostotheright.BEurostotheleft.CDollarstotheright.DDollarstotheleft.第12題Ina_______exchangeratesystemthegovernmentorcentralbankersintervenetokeeptheexchangeratevirtuallysteady.AFixedBMarketdrivenCFloatingDForward第13題WhichofthefollowingbestcharacterizesthecurrentU.S.exchangeratepolicy?AAnadjustablepeggedrate.BAcrawlingpeggedrate.CAfreelyfloating.DAfixedexchangerate.第14題Otherthingsequal,ifAmericanimportstoJapanincreaseandAmericanexportsfromJapandecrease,then,underafloatingexchangeratesystem,wewouldexpectthedollarto:(

)AWeakenagainsttheJapaneseyen.BDepreciateagainsttheJapaneseyen.CDevalueagainsttheJapaneseyen.DStrengthenagainsttheJapaneseyen.第15題WhichofthefollowinggroupsismostlikelytobenefitfromastrengtheningoftheU.S.dollaragainstmajorcurrencies?(

)AU.S.exporters.BTheU.S.government.CU.S.consumers.DForeignconsumers.第16題Under

afixedexchangeratesystemafallinthemarketprice(theexchangeratevalue)ofacurrencyiscalleda(n)________ofthatcurrency.ARevaluationBDevaluationCAppreciationDDepreciation第17題Foreignexchangeisameansofpaymentexpressedinforeigncurrency.第18題Oneofthedrawbacksoffloatingexchangeratesisthattheycaneasilyleadtoasignificantlossofforeignexchangereserves.第19題Theforeignexchangemarketisatwo-waytransaction.第20題Themostcommonandlargesttradingformintheforeignexchangemarketisspotforeignexchangetrading.2.1Quiz第1題Thegoldstandardwasinplaceformostmajoreconomicsoftheworldduringtheperiod(

)AfromthebeginningoftheGreatDepressionuntilWorldWarII.Bfrom1973untilthepresent.Cfromthemid-1870suntilWorldWarI.DsincetheendofWorldWarII.第2題Underthegoldstandard,ifthemintparityconditionfortheFrenchfrancwassetatFfr107.1perounceofgold,andtheGermanmarkwassetatDM88.7perounceofgold,thenitispossibletocomputetheexchangeratebetweentheGermanmarkandtheFrenchfranc(DM/f)asapproximately(

)A0.83B1.21C9490.9DItisnotpossibletocomputetheexchangeratebetweenthemarkandthefrancwiththesevalues,becausethesevaluesarerelativetothepriceofgold.第3題Thegoldstandardpromotedlong-runstabilityofnation’smoneystockandlong-runstabilityofrealoutput,prices,andtheexchangerate.2.2Quiz第1題TheBrettonWoodsagreementrequiredthateachcountryfixthevalueofitscurrencyintermsofananchorcurrency,namelythedollar(thisestablishedthe“par”valueofeachcurrencyandwastoensureparityacrosscurrencies).第2題TheIMFwascreatedtomonitortheoperationofthesystemandprovideshort-termloanstocountriesexperiencingtemporarybalanceofpaymentsdifficulties.SuchloansaresubjecttoIMFconditionsregardingchangesindomesticeconomicpolicyaimedatrestoringbalanceofpaymentsequilibrium.第3題UndertheBrettonWoodssystem,mostofthemajorcurrenciesofthesystem,otherthantheU.S.dollar,(

)Apeggedtheirvaluesagainstthevalueofanounceofgold.Bpeggedtheirvaluesagainstthevalueofthedollar.Callowedtheircurrenciestofloat.DpeggedtheirvaluesagainstthevalueoftheEuro.2.3Quiz第1題BysigningtheBrettonWoodsagreement,countriesagreedtoprotecttheirexchangeratefrommovingupordownfromtheagreed-uponrate.Thisagreementimpliedthatcentralbankshadtotakeonamoreactiveroleinmakingsurethatmarketpressuredidnotchangetheexchangerate.Thevariouscentralbanksachievedthisgoalbybuyingandsellingtheirdomesticcurrenciesontheforeignexchangemarket.第2題TheU.S.balanceongoodsandservicesshiftedtoasurprisingdeficitin1971.

Thesedeficitssupportedspeculationsthatthedollarwasovervalued.第3題BecauseofmassivegoldoutflowsfromtheUnitedStates,PresidentNixonsuspendedconvertibilityofthedollarinAugust1981.

ThisendedtheBrettonWoodsSystem.2.4Quiz第1題WhichofthefollowingisaprincipalfunctionoftheInternationalMonetaryFund?AToactasaforumforinternationalmonetarycooperation.BToprovidecentralbankswitharangeoffinancialservicesformanagingtheirexternalreserves.CToactasalenderoflastresortforcountriesfacingtemporaryexternalbalanceofpaymentsproblems.DToactasanagentortrusteewhichfacilitatestheimplementationofvariousinternationalfinancialagreements.第2題Reservecurrenciesserveasaninternationalunitofaccount,amediumofexchange,andastoreofvalue.第3題Seigniorageisafinancialrewardaccruingtotheissuerofcurrency.Thecentralbank'sseigniorageisthedifferencebetweenprintingmoneyandthereturntotheassetsitacquires.2.5Quiz第1題Ina________exchangeratesystem,thereisnointerventionbythegovernmentorcentralbankers.AFixedBPeggedCFloatingDManagedfloat第2題AsthevalueoftheyenfallsrelativetotheU.S.dollar:(

)AJapanesegoodsbecomemoreexpensivetoU.S.consumers.BThesupplyofdollarswillfall.CThedemandforyenwillrise.DU.S.goodsbecomelessexpensivetoJapaneseconsumers.第3題Supportersoffixedexchangeratesbelievethatincountriesimplementingafloatingexchangeratesystem,(

)speculationplaysamajorroleintheforeignexchangemarket.AStableBUnstableCShorttermDVolatile2.6Quiz第1題TheEuropeanMonetarySystem(EMS)wasestablishedinMarch1979tomaintainsmallexchangeratefluctuationsamongmembercountries,whileallowingforfloatingagainstoutsidecurrencies.

TheEMShasevolvedintoasystemwithonecurrency,theeuro,andoneEuropeancentralbankin1999.第2題ItwasinthisspiritthattheMaastrichtTreatywassignedinDecember1999andatimetablefortheevolutionofthesystemwasspelledout.第3題TheMaastrichtTreatycalledfor:Theirrevocablefixingofexchangeratesamongallmembercountries,withacommoncurrencyandaEuropeanCentralBankinJanuary1997,attheearliest,andbyJanuary1999,atthelatest.UnitTest2第1題TheprinciplefunctionoftheInternationalMonetaryFundwasoriginallyto(

)Alendtomembernationsexperiencingashortageofforeignexchangereserves.Bfinancepostwarreconstruction,particularlyinEuropeandJapan.Creducetradebarriersandsettledisputesamongcountriesrelatingtocurrencynegotiations.Dactasasupranationalregulatoryagencyfordomesticcentralbanks.第2題TheU.S.dollartodayisanexampleofa(

)Acommoditymoney.Bfiatmoney.Ccommodity-backedmoney.Dcurrencybasket.第3題WhichofthefollowingisnotaninstitutionthataroseundertheBrettonWoodsAgreement?(

)ATheInternationalMonetaryFund.BTheInternationalBankforReconstructionandDevelopment.CTheLeagueofNations.DTheGeneralAgreementonTariffsandTrade.第4題InthePlazaAgreementofSeptember,1985,the"GroupofFive"or"G5"countriesannouncedthattheybelievedthat(

)Athe"G5"neededtobeexpandedtoincludeanadditionalfivemajorindustrializedcountriestomakeupwhatisnowreferredtoasthe"G10".BtheBrettonWoodssystemwouldnolongerbesustainable.Citwasnecessaryto"float"thedollarrelativetogold.Dtheexchangevalueofthedollarwastoostrongandthattheywouldcoordinatetheircentralbankinterventionsinordertodrivedownthevalueofthedollar.第5題Whichofthefollowingisnotamemberofthe"GroupofTen"industrializedcountries?(

)AJapanBBelgiumCSwitzerlandDSweden第6題Anexampleofacountrythatmaintainedacrawling-pegexchange-ratesystemduringtheearly2000sis(

)AtheUnitedStates.BCanada.CFrance.DNicaragua.第7題Acurrencyboardisan(

)Aexchangemarketinwhichthemajorcurrenciesoftheworldareexchangedontheopenmarketamongprivatebanksatprevailingrates.Bindependentmonetaryagencythatsubstitutesforacentralbankbypeggingthegrowthofthedomesticmoneystocktotheforeign-exchangeholdingsoftheboard.Cindependentmonetaryagencywhichisresponsibleforsettingbankreserverequirementsforthedomesticcurrency.Dexchangemarketinwhichthenotesandbillsissuedbythedomesticgovernmentaretradedontheopenmarketamongprivatebanks.第8題Whichofthefollowingarrangementsplacesthegreatestrestrictiononpolicymakersandrequiresthegreatestsacrificeofpolicyautonomy?(

)Aafreefloat.Bacurrency-basketpeg.Cdollarization.Dacurrencyboard.第9題IftheChineserenminbi,whoseunitofcurrencyistheyuan,isrevaluedrelativetotheU.S.dollar,then(

)Aforeachyuan,onecanexpecttobuyfewerdollars.Bforeachyuan,onecanexpecttobuymoredollars.Ctheexchangeratebetweentherenminbiandthedollarwillremainconstant.Ditisimpossibletotellwhatwillhappentotheexchangerateorthenumberofdollarsthatonecanbuywitheachyuan,sincethisdependsonthesupplyandthedemandfortheyuanrelativetothedollar.第10題Currencybasketpegsusuallyinvolvepeggingthedomesticcurrencyto(

)Aeachofthemajorcurrenciesoftheworld.Btherelativepriceofachosenbasketofconsumergoods.Caweightedaverageofonlyasmallselectednumberofdifferentcurrencies.DwithinanupperandlowerlimitofabandrelativetoeithertheU.S.dollarortheJapaneseyen.第11題A"dirtyfloat"exchangeratesystemrefersto(

)Aanexchangeratesystemwhereinpolicymakersallowsthevalueofthedomesticcurrencytobedetermineonlybytheforcesofsupplyanddemand.Banexchangeratesystemwherebyeachofthemembersofthesystempegtheircurrencyagainstoneofthemajorcurrencies,suchastheU.S.dollar,whichisinturnpeggedagainstacommodity,suchasgold.Canexchangeratearrangementinwhichthedomesticcurrencyisprimarilymanagedbythecentralbankofaforeigncountry,whichistypicallythemajortradingpartner.Danexchangeratearrangementinwhichanationallowstheinternationalvalueofitscurrencytobeprimarilydeterminedbymarketforces,butintervenesoccasionallytostabilizeitscurrency.第12題TheSmithsonianagreementrefersto(

)Atheunderstandingthatmostofthemajorindustrializedcountriescametoattheendofthedepressioneraregardingthenon-sustainabilityofthegoldstandardasitwascurrentlypracticed.BanagreementthatwasmadetoestablishnewparvaluesfortheG10countriesthathadparticipatedintheBrettonWoodssystem.CtheagreementthatPresidentNixoncametovisavistheotherG10memberstosuspendtemporarilytheconvertibilityofthedollarintogoldorother

reserveassets.DtheinitialagreementthatsetforthfutureeconomiccooperationundertheNorthAmericanFreeTradeAssociation.第13題WhichofthefollowingdidnotcontributetotheeventualcollapseoftheBrettonWoodssystem?(

)AIncreasedfederalspendingforsocialprogramstermedthe"GreatSociety"undertheJohnsonadministration.BHeightenedU.S.involvementinVietnam.CTheconditionssetforthintheLouvreAccord.DU.S.balanceofpaymentsdeficitswithGermanyandJapan.第14題AMonetaryOrderis(

)Aasetofrulesthatdeterminetheinternationalvalueofacurrency.Basetoflawsandregulationsthatestablishestheframeworkwithinwhichindividualsconductandsettletransactions.

Canexchangeratearrangementinwhichacountrypegstheinternationalvalueofthedomesticcurrencyrelativetothecurrencyofanothernation.Daspecializedformofacurrencyboard.第15題Whichofthefollowingisanexampleofacommoditymoneythathasbeenusedextensively?(

)ACreditcards.BDemanddepositsandcertificatesofdeposit.CGold.DTheEuro.第16題Akeychallengetotheexchangeratesystemoftheleadingindustrializedcountriesinthe1970scameasaconsequenceof(

)Aarapidincreaseinthepriceofpetroleum.BtheformationoftheBundesbank.CtheheighteningofColdWartensions.Dtheestablishmentofmanycurrencybasketsworldwide.第17題TheIMFconstitutionwasamendedtoallowmembernationstodeterminetheirownexchangeratearrangementsunderthe(

)ASmoot-HawleyAct.BJamaicaAccord.CSmithsonianAgreement.DTreatyofRome.第18題Anadvantageofthegoldstandardsystemwasthat(

)Aitpromotedconditionsthathelpedtoavoidperiodicfinancialandbankinginstability.Bitdidnotrequirecountriestohavecentralbanks.Citensuredshort-runstabilityofthemonetarystock.Dmintingandtransportationcostswererelativelylowascomparedtootherexchangeratesystems.第19題Anadvantageofaflexibleexchangeratesystemisthatit(

)Acanhelpacountryovercomeexternalshockssuchasanunusualinflowofcapitalfromabroad.Bcanreducethevolatilityofnominalexchangerateovertime.Celiminatestheneedforthecentralbanktotargetinterestrates.Densuresagreatervolumeoftradeingoodsandservicesamongmembercountries.第20題WhichofthefollowingisaprincipalfunctionoftheInternationalMonetaryFund?(

)AToactasaforumforinternationalmonetarycooperation.BToprovidecentralbankswitharangeoffinancialservicesformanagingtheirexternalreserves.CToactasalenderoflastresortforcountriesfacingtemporaryexternalbalanceofpaymentsproblems.DToactasanagentortrusteewhichfacilitatestheimplementationofvariousinternationalfinancialagreements.3.1Quiz第1題Acredititeminthebalanceofpaymentsis:(

)AAnitemforwhichthecountrymustbepaid.BAnitemforwhichthecountrymustpay.CAnyimporteditem.DAnitemthatcreatesamonetaryclaimowedtoaforeigner.第2題Inacountry’sbalanceofpayments,whichofthefollowingtransactionsaredebits?(

)ADomesticbankbalancesownedbyforeignersaredecreased.BForeignbankbalancesownedbydomesticresidentsaredecreased.CAssetsownedbydomesticresidentsaresoldtononresidents.DSecuritiesaresoldbydomesticresidentstononresidents.第3題Thesumofallofthedebititemsinthebalanceofpaymentsequalsthesumofallcredititems.3.2Quiz第1題Anationisaborrowerifitscurrentaccountisindeficitduringatimeperiod.第2題Acountryhasacurrentaccountdeficitifitissavingmorethanitisinvestingdomestically.第3題Thenetvalueofflowsofgoods,services,income,andunilateraltransfersiscalledthe:(

)ACapitalaccount.BCurrentaccount.CTradebalance.DOfficialreservebalance.第4題Acountryexperiencingacurrentaccountsurplus:(

)ANeedstoborrowinternationally.BIsabletolendinternationally.CMustalsohavehadasurplusinits"overall"balance.DSpentmorethanitearnedonitsmerchandiseandservicetrade,internationalincomepaymentsandreceiptsandinternationaltransfers.3.3Quiz第1題Thenetvalueofflowsoffinancialassetsandsimilarclaims(excludingofficialinternationalreserveassetflows)iscalledthe:(

)ATradebalance.BCurrentaccount.CFinancialaccount.DOfficialreservebalance.第2題Adeficitinthecurrentaccount:(

)ATendstocauseasurplusinthefinancialaccount.BTendstocauseadeficitinthefinancialaccount.CHasnorelationshiptothefinancialaccount.DIstheresultofincreasingexportsanddecreasingimports.第3題Officialinternationalreserveassetsaresimilartomoney,whichareheldbygovernmentsandthatarerecognizedbygovernmentsasfullyacceptableforpaymentsbetweenthem.3.4Quiz第1題AU.S.residentincreasingherholdingsofaforeignfinancialassetcausesa:(

)ACreditintheU.S.currentaccount.BDebitintheU.S.currentaccount.CCreditintheU.S.capitalaccount.DDebitintheU.S.capitalaccount.第2題IfaBritishbusinessbuysU.S.governmentsecurities,howwillthisbeenteredinthebalanceofpayments?(

)AItwillappearinthetradeaccountasanimport.BItwillappearinthetradeaccountasanexport.CItwillappearinthefinancialaccountasanincreaseinU.S.assetsheldbyforeigners.DItwillappearinthefinancialaccountasadecreaseinU.S.assetsheldbyforeigners.第3題Capitalinflowsaredebitsandcapitaloutflowsarecredits.第4題Anation'sinternationalinvestmentpositionshowsitsstockofinternationalassetsandliabilitiesatamomentintime.3.5Quiz第1題Acountry'sbalanceofpaymentscannotbeahugedeficit,butmustmaintainabalanceofpaymentssurplus,themoresurplusthebetter.第2題Whatmonetarypolicycanbeadoptedwhenthebalanceofpaymentsisindeficit?(

)ALoosemonetarypolicy.BTightmonetarypolicy.CMonetarypolicythatisalternatelylooseandtight.DItdoesn'tmatter.第3題Generallyspeaking,thebalanceofpaymentsimbalancecausedby(

)islong-termandpersistent.ABusinesscycleschangeBChangesinthevalueofmoneyCChangesinexpectedgoalsDLaggingeconomicstructureUnitTest3第1題Globalizationrefersto_________,andinternationaleconomicintegrationrefersto___________.Aabroaderscopeoftheinternationalizationprocess,anarrowerfocusoftheinternationalizationprocess.Banarrowerscopeoftheinternationalizationprocess,abroaderfocusoftheinternationalizationprocess.Cthesamethingasinternationaleconomicintegration,thestrengtheningofinternationallinkagesofcommerce.DNoneoftheabove.第2題Realsectortransactionsdealwith:(

)Atransactionsingoodsandservices.Btransactionsinfinancialassets.Ctransactionsinbothgoodsandservicesandfinancialassets.Dtransactionsinneithergoodsandservicesnorinfinancialassets.第3題Financialsectorlinkagesdealwith:(

)Atransactionsingoodsandservices.Btransactionsinfinancialassets.Ctransactionsinbothgoodsandservicesandfinancialassets.Dtransactionsinneithergoodsandservicesnorinfinancialassets.第4題Ifdomesticinvestmentislessthandomesticsaving,(

)Aexpendituresequaldomesticincomeandnetexportsequalzero.Bexpendituresaregreaterthandomesticincomeandnetexportsarenegative.Cexpendituresarelessthandomesticincomeandnetexportsarepositive.Dexpendituresaregreaterthandomesticincomeandnetexportsarepositivezero.第5題Ifdomesticsavingsequals10anddomesticinvestmentequals6,thenthecurrentaccountbalanceequals:(

)A-16B-4C+4D+16第6題Ifanation'sdomesticsavingis25andthenation'sdomesticinvestmentis30,thenthenationisexperiencing:(

)

Aacurrentaccountsurplus.Bacurrentaccountdeficit.Canetcapitalinflow.DbothBandC第7題Thebalanceofpaymentssystem(

)Aisanothermethod

forcalculatingGDP.Binsuresthatthenetexportsarealways

equaltozero.Cmeasuresthetotalvalueofadomesticeconomy'stransactionswiththerestoftheworld.Dattemptstolimitthefluctuationininternationalexchangerates.第8題Thebalanceonmerchandisetradeisacomponentof(

)Athecurrentaccount.Bthecapitalaccount.Cforeigndirectinvestment.Dportfolioinvestment.第9題Adebitentryinthebalanceofpaymentsaccountsrepresents(

)Aatransactionthatincludesapaymentfromabroadanddomesticresident.Batransactionthatincludesapaymentabroadbyadomesticresident.Cadecreaseinthecurrentaccountdeficit.Danincreaseinthecapitalaccountsurplus.第10題Whichofthefollowingtransactionsisnotincludedinthecurrentaccount?(

)AExportsofmanufacturedgoods.BImportsofmanufacturedgoods.CPaymentsofinterestanddividendsonforeignassetsheldbyadomesticDThepurchaseofforeignassetsbyadomesticU.S.resident.第11題Intermsofbalanceofpaymentsaccounting,whichofthefollowingwouldberecordedasadebitentry?(

)AExportsofmerchandise.BExportsofservices.CAforeigner'spurchaseofaU.S.Treasurebond.DAnincreaseinaU.S.citizen'saccountataforeignbank.第12題SupposeanAmericantouristtravelstoMexico,andusesU.S.dollarstopurchaseahotelroominMexicoCity.Thistransactionisrecordedasa(

).Acreditinthecurrentaccountanddebitinthecapitalaccount.Bdebitinthecapitalaccountandacreditinthecurrentaccount.Ccreditinthecapitalaccountanddebitinthecurrentaccount.Dcreditinthecapitalaccountanddebitinthecapitalaccount.第13題Foreigndirectinvestmentisacomponentof(

)Aportfolioinvestment.Bthecurrentaccount.Ctotaltradeinservices.Dthecapitalaccount.第14題TheUnitedStatesiscurrentlyanetdebtornation.Thisnecessarilyimpliesthatthe(

)Afeder