2024春季國際金融學習通超星期末考試答案章節(jié)答案2024年

2024春季國際金融學習通超星期末考試章節(jié)答案2024年Anycentralbanktransactioninprivatemarketsforforeigncurrencyassetsiscalledofficialforeignexchangeintervention.

答案:對GNPlessdepreciationiscallednetfactorproduct.

答案:錯Acountryhasasurplusinitsbalanceofpaymentswhenitisrunningdownitsofficialinternationalreservesorborrowingfromforeigncentralbank.

答案:錯Acountry'sgrossnationalproduct(GNP)isthevalueofallfinalgoodsproducedbyitsfactorsofproductionandsoldonthemarketinagiventimeperiod.

答案:錯Anopeneconomycansaveeitherbybuildingupitscapitalstockorbyacquiringforeignwealth.

答案:對Investmentisusuallylessvariablethanconsumption.

答案:錯Ifthegovernmentdeficitrisesandprivatesavingandinvestmentdonotchangemuch,thecurrentaccountsurplusmustfallbyroughlythesameaccountastheincreaseinthefiscaldeficit.

答案:對IfyouownashareofaGermanfirm’sstockandreceiveadividendpaymentof$5,thatpaymentshowsupinthefinancialmarket.

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

答案:錯Thecurrentaccountequalsthecountry’snetlendingtoforeigners.

答案:對TheCAisequaltoY-(C+I+G).

答案:對NationalincomeequalsGNPlessdepreciation,plusnetunilateraltransfers.

答案:對Governmenttransferpaymentslikesocialsecurityandunemploymentbenefitsarenotincludedingovernmentpurchases,buttheyareincludedintheconsumptioncomponentofGNP.

答案:錯Theofficialsettlementsbalanceorbalanceofpaymentsisthesumofthecurrentaccountbalanceandthecapitalaccountbalance.

答案:錯Acountrywithacurrentaccountsurplusisearningmorefromitsexportsthanitspendsonimports.

答案:對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Thereturnondepositstradedintheforeignexchangemarketdependoninterestratesandexpectedexchangeratechanges.

答案:對Adepreciationofthedollaragainsteurotodaymakeseurodepositmoreattractiveontheconditionthatexpectedfuturedollar/eurorateandinterestratesdonotchange

答案:錯Anappreciationofacountry'scurrencylowerstherelativepriceofitsexportsandraisestherelativepriceofitsimports.

答案:錯Theexchangeratequotedasthepriceofforeigncurrencyintermsofdomesticcurrencyiscalledindirectquotation.

答案:錯Thedollarissometimescalledavehiclecurrencybecauseofitspivotalroleinmanyforeignexchangedeals.

答案:對Forafixedinterestrate,ariseintheexpectedfutureexchangeratecausesariseinthecurrentexchangerate.

答案:對Theexchangerateavailabletocorporatecustomersareusuallymorefavorablethantheinterbankrates.

答案:錯ThelargesttradingofforeignexchangeoccursinNewYork.

答案:錯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Theexchangerateissaidtoovershootwhenitsimmediateresponsetoadisturbanceissmallerthanitslong-runresponse.

答案:錯GivenPusandYus,AnincreaseintheEuropeanmoneysupplycausestheeurotodepreciateagainstthedollar,butitdoesnotdisturbtheU.S.moneymarketequilibrium.

答案:對Aneconomy’smoneysupplyiscontrolledbyitscommercialbanks.

答案:錯Giventhepricelevelandoutput,anincreaseinthemoneysupplylowerstheinterestrate.

答案:對Aggregaterealmoneydemanddependsnegativelyontheinterestrateandpositivelyonthevolumeoftransactionsintheeconomy(measuredbyrealGNP).

答案:對TheaggregaterealmoneydemandscheduleL(R,Y)slopesdownwardbecauseafallintheinterestratereducesthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

答案:錯Thehighertheinterestrate,themoreyousacrificebyholdingwealthintheformofmoney.

答案:對Themainbenefitofholdingmoneycomesfromitsliquidity.

答案:對Achangeinthesupplyofmoneyhasnoeffectonthelong-runvaluesoftheinterestrateorrealoutput.

答案:對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AbsolutePPPmaybevalidevenwhenrelativePPPisnot,providedthefactorscausingdeviationsfromrelativePPParemoreorlessstableovertime.

答案:錯Thelong-runrelationshipbetweeninflationandexchangeratesiscalledFisherEffect.

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

答案:錯Underaflexible-pricemonetaryapproachtotheexchangerate,whenthedomesticmoneysupplyfalls,thepricelevelwouldfallrightaway,keepingtheinterestrateconstant.

答案:對Understickyprices,aninterestrateriseisassociatedwithlowerexpectedinflationandalong-runcurrencyappreciation,sothecurrencyappreciatesimmediately.

答案:對Goodsthatcanneverbetradedinternationallyataprofitarecallednontradables.

答案:對Thelawofonepricestatesthatincompetitivemarketsfreeofofficialbarriertotrade,identicalgoodsaresoldatthesamepriceregardlessoftransportationcosts.

答案:錯Themonetaryapproachmakesthegeneralpredictionthattheexchangerate,whichistherelativepriceofAmericanandEuropeanmoney,isfullydeterminedintheshortrunbytherelativesuppliesofthosemoniesandtherelativedemandsforthem.

答案:錯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Ariseindomesticrealincomedecreasesaggregatedemandforhomeoutputbecauseoftheincreasedemandforimport.

答案:錯Intheshort-run,weassumethatthemoneypricesofgoodsandservicesareallowedtofluctuate.

答案:錯Inthelong-runequilibrium,afterapermanentmoney-supplyincrease,therewillbeanincreaseinexchangerate.

答案:對Apermanentfiscalexpansiondoesnotchangesexchange-rateexpectations.

答案:錯Eitheranincreaseinthemoneysupplyortemporaryfiscaleasecanbeusedtomaintainfullemployment.Thetwopoliceshavenodifferenteffectsatall.

答案:錯Apermanentfiscalexpansionhasnoexpansioneffectatall.

答案:對Thegreatertheupwardshiftoftheassetmarketequilibriumschedule,thegreatertheappreciationofthecurrency.

答案:錯DisposableincomeisdefinedasY-I.

答案:錯ApermanentincreaseinthedomesticmoneysupplymustultimatelyleadtoaproportionalriseinE,and,therefore,theexpectedfutureexchangeratemustriseproportionally.

答案:對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Underfixedexchangerate,devaluationcausesanexpansionofthemoneysupply.

答案:對Anycentralbanksaleofassetsautomaticallycausesthemoneysupplytodecline.

答案:對CentralBanksometimescarryoutequalforeignanddomesticassettransactionsinoppositedirectionstonullifytheimpactoftheirforeignexchangeoperationsonthedomesticmoneysupply.Thispolicyiscalledsterilizedforeignexchangeintervention.

答案:對Theexpectationofafuturedevaluationcausesariseinthehomeinterestrateabovetheworldlevel.

答案:對Withimperfectassetsubstitutability,evensterilized