国际金融双语期末a卷2009-2010_2

浙江财经学院课程期末考试试卷第 1 页，共 17 页Part I: Multiple choice(1*30=30score)( only one choice for each question)1. Which of the following transactions is recorded in the financial account?A) Ford motor company builds a new plant in China B) A Chinese businessman imports Ford automobiles from the United States.C) A U.S. tourist spends money on a trip to China.D) The New York Yankees are paid $10 million by the Chinese to play an exhibition game in Beijing, China.2. In the balance of payments, the statistical discrepancy or error term is used to:A) Ensure that the sum of all debits matches the sum of all credits.B) Ensure that imports equal the value of exports.C) Obtain an accurate account of a balance-of-payments deficit.D) Obtain an accurate account of a balance-of-payments surplus.3. A deficit in the overall balance generally is an indication that:A) The countrys monetary authorities were selling foreign currency.B) The countrys monetary authorities were buying foreign currency.C) The countrys monetary authorities were buying domestic currency.D) The countrys monetary authorities were buying imported goods.4. Suppose that a Korean television set that costs 600 won in Korea costs $400 in the United States. These prices suggest that the exchange rate between the won and the dollar is:A) 1.5 won per dollarB) 0.75 won per dollarC) $1.50 per wonD) $3 per won5. To the US, U.S. capital inflows will create a _ foreign currency and a _ U.S. dollars.A) Demand for; supply ofB) Supply of; demand forC) Shortage of; demand forD) Supply of; shortage of6. U.S. imports of goods and services will create a _ foreign currency and a _ U.S. dollars. A) Demand for; supply ofB) Supply of; demand forC) Shortage of; demand forD) Supply of; shortage of7.If the spot price of the euro is $1.10 per euro and the 30-day forward rate is $1.00 per euro, and you believe that the spot rate in 30 days will be $1.05 per euro, you can 浙江财经学院课程期末考试试卷第 2 页，共 17 页maximize speculative gains by:A) Buying euros in the spot market and selling the euros in 30 days at the future spot rate.B) Signing a forward foreign exchange contract to sell the euros in 30 days.C) Signing a forward foreign exchange contract to sell the dollars in 30 days.D) Buying dollars in the spot market and selling the dollars in 30 days at the future spot rate.8.Assume you are a Chinese exporter and expect to receive $250,000 at the end of 60 days. You can remove the risk of loss due to a devaluation of the dollar by:A) Selling dollars in the forward market for 60-day delivery.B) Buying dollars now and selling it at the end of 60 days.C) Selling the yuan equivalent in the forward market for 60-day delivery.D) Keeping the dollars in the United States after they are delivered to you.9. The interest rate in the U.K. is 4% for 90 days, the current spot rate is $2.00/£ and the forward rate is $1.96/£. If the covered interest rate differential is about 1%, then the interest rate in the U.S. for 90 days would have to be:A) 7%B) 4%C) 3%D) 2%10. If the covered interest differential is zero:A) International investments will be unprofitable.B) Parity has not been reached.C) The overall covered return on a foreign-currency investment equals the return on a comparable domestic-currency investment.D) A currency is at a forward premium by as much as its interest rate is higher than the interest rate in the other country.11. When uncovered interest parity holds:A) A currency is expected to appreciate by as much as its interest rate is lower than the interest rate in the other country.B) A currency is expected to appreciate by as much as its interest rate is higher than the interest rate in the other countryC) A currency is expected to depreciate by as much as its interest rate is lower than the interest rate in the other countryD)The forward premium equals the interest rate differential.12. International Fisher Effect refers to the condition when:A) Covered differential equals zero.B) Expected uncovered differential equals zero.C) Uncovered interest parity holds.D) Both (B) and (C).浙江财经学院课程期末考试试卷第 3 页，共 17 页13. _ purchasing power parity states that the difference between changes over time in product-price levels in two countries will be offset by the change in the exchange rate over this time. A) FullB) PartialC) RelativeD) Absolute14. The _ approach to exchange rates emphasizes the importance of the supply and demand for money as a key to understanding the determinants of exchange rates. A) Purchasing-power-parityB) Asset marketC) MonetaryD) Balance of payments15. Based on PPP and the quantity theory of money, if Japans real income rises relative to real income in the US, there should be a(n):A) Appreciation of the dollar.B) Appreciation of the yen.C) Interest rate parity.D) Depreciation of the yen.16.The _ effect can sometimes be destabilizing because it moves the exchange rate away from its long-run equilibrium value. A)