国际金融中英文版(带解析).doc

国际金融中英文版Chapter 2: Payments among NationsSingle-Choice Questions1. A countrys balance of payments records: 一个国家的国际收支 平衡记录了 Ba. The value of all exports of goods and services from that country for a period of time.b. All flows of value between that countrys residents and residents of the rest of the world during a period of time.在一定时间段里,一个国家居民的资产和其它世界居民资产的流动c. All flows of financial assets that cross that countrys borders during a period of time.d. All flows of goods into that country during a period of time.2.3. A credit item in the balance of payments is: 在国际收支平衡里的贷项是 Aa. An item for which the country must be paid.一个国家必须收取的条款b. An item for which the country must pay.c. Any imported item.d. An item that creates a monetary claim owed to a foreigner.4. Every international exchange of value is entered into the balance-of-payments accounts _ time(s). 每一次国际等价交换都记进国际收支帐户次 Ba. 1b. 2c. 3d. 45. A debit item in the balance of payments is: 在国际收支平衡中的借项是 Ba. An item for which the country must be paid.b. An item for which the country must pay.一个国家必须支付的条款c. Any exported item.d. An item that creates a monetary claim on a foreigner.6. In a nations balance of payments, which one of the following items is always recorded as a positive entry? D在国际收支中,下列哪个项目总被视为有利条项a. Changes in foreign currency reserves.b. Imports of goods and services.c. Military foreign aid supplied to allied nations.d. Purchases by foreign travelers visiting the country.国外游客在本国发生的购买7. The sum of all of the debit items in the balance of payments: 在收支平衡中,所有贷项的总和 Ba. Equals the overall balance.b. Equals the sum of all credit items.等于所有借项的总和c. Equals compensating transactions.d. Equals the sum of credit items minus errors and omissions.8. Which of the following capital transactions are entered as debits in the U.S. balance of payments? 下列哪个资本交易在美国的收支平衡中当作借项？ Ba. A U.S. resident transfers $100 from his account at Credit Suisse in Basel (Switzerland) to his account at a San Francisco branch of Wells Fargo Bank. b. A French resident transfers $100 from his account at Wells Fargo Bank in San Francisco to his Credit Suisse account in Basel.一个法国居民在旧金山的Fargo Bank用其帐户转帐美金到位于巴塞尔的瑞士信贷户口c. A U.S. resident sells his IBM stock to a French resident. d. A U.S. resident sells his Credit Suisse stock to a French resident. 9. An increase in a nations financial liabilities to foreign residents is a: 一个国家对另一个国家金融负债的增加是一种Ca. Reserve inflow.b. Reserve outflow.c. Capital inflow.资本流入d. Capital outflow.10. _A_ are money-like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them. 官方国际储备资产是一种类似于钱的资产，这种资产由政府掌握并作为政府间的一种支付手段得到充分认可.a. Official international reserve assets 官方国际储备资产b. Unofficial international reserve assets c. Official domestic reserve assets d. Unofficial domestic reserve assets 11. Which of the following is considered a capital inflow? 下列哪项 被视为资本流入 Aa. A sale of U.S. financial assets to a foreign buyer.美国一金融资产卖给一外国买家b. A loan from a U.S. bank to a foreign borrower.c. A purchase of foreign financial assets by a U.S. buyer.d. A U.S. citizens repayment of a loan from a foreign bank.12. In a countrys balance of payments, which of the following transactions are debits?一个国家的收支平衡表中,哪个交易属于借项？ Aa. Domestic bank balances owned by foreigners are decreased.外国人拥有的国内银行资产的下降b. Foreign bank balances owned by domestic residents are decreased.c. Assets owned by domestic residents are sold to nonresidents.d. Securities are sold by domestic residents to nonresidents.13. The role of _D_ is to direct one nations savings into another nations investments: 资金流的作用是指导一个国家的储蓄进入到另一个国家的投资a. Merchandise trade flowsb. Services flowsc. Current account flowsd. Capital flows资金流14. The net value of flows of goods, services, income, and unilateral transfers is called the: 商品,服务,收入和单方面转让等现金流的净收益叫经常账目（户）Ba. Capital account.b. Current account.经常账目（户）c. Trade balance.d. Official reserve balance.15. The net value of flows of financial assets and similar claims (excluding official international reserve asset flows) is called the: 金融资产和类似的资产（官方国际储备资产流除外）的 净值流叫 Aa. Financial account.金融帐b. Current account.c. Trade balance.d. Official reserve balance.15. The financial account in the U.S. balance of payments includes: 美国国家收支表中的金融帐包括： Ba. Everything in the current account.b. U.S. government payments to other countries for the use of military bases.美政府采用其它国家军事基地所需支付款项c. Profits that Nissan of America sends back to Japan.d. New U.S. investments in foreign countries.16. U.S. resident increasing her holdings of a foreign financial asset causes a: 一个美国居民 增持一外国金融资产会引起Da. Credit in the U.S. current account.b. Debit in the U.S. current account.c. Credit in the U.S. capital account.d. Debit in the U.S. capital account.美国资本帐的借帐17. A foreign resident increasing her holdings of a U.S. financial asset causes a: 一个美国居民增持本国一金融资产会引起 Ca. Credit in the U.S. current account.b. Debit in the U.S. current account.c. Credit in the U.S. capital account.美国资本帐的贷帐d. Debit in the U.S. capital account.18. A deficit in the current account: 经常帐户中的赤字 Aa. Tends to cause a surplus in the financial account.会导致金融帐中的盈余b. Tends to cause a deficit in the financial account.c. Has no relationship to the financial account.d. Is the result of increasing exports and decreasing imports.19. In September, 2005, exports of goods from the U.S. decreased $3.3 billion to $73.4 billion, and imports of goods increased $3.8 billion to $144.5 billion. This increased the deficit in:2005年8月,美国商品出口降低了33亿美元,共734亿美元；商品进口上升到1145亿美元,上长了38亿.这样增加了哪个方面的赤字？Ca. The balance of payments.b. The financial account.c. The current account.经常帐户d. Unilateral transfers.20. Which of the following would contribute to a U.S. current account surplus? 以下哪项有助于美国现金帐的盈余？ Ba. The United States makes a unilateral tariff reduction on imported goods.b. The United States cuts back on American military personnel stationed in Japan.美国削减在日本的军事人员c. U.S. tourists travel in large numbers to Asia.d. Russian vodka becomes increasingly popular in the United States.21. Which of the following transactions is recorded in the financial account?以下哪个交易会被当作金融帐Aa. Ford motor company builds a new plant in China 福特摩托公司在中国设立车间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.22. If a British business buys U.S. government securities, how will this be entered in the balance of payments? 如果一英国商人购买了美国政府的债券,那么这个交易在收支平衡表中会被当作是？ Ca. It will appear in the trade account as an import.b. It will appear in the trade account as an export.c. It will appear in the financial account as an increase in U.S. assets held by foreigners.会被当作是外国人所有的美国资产增长d. It will appear in the financial account as a decrease in U.S. assets held by foreigners.23. In the balance of payments, the statistical discrepancy or error term is used to: 在收支平衡表中, 统计差异与错误项目会用来确保借帐总和跟贷帐总和一致 Aa. 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.24. Official reserve assets are: 官方储备资产 是 Ba. The gold holdings in the nations central bank.b. Money like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them. 官方国际储备资产是一种类似于钱的资产，这种资产由政府掌握并作为政府间的一种支付手段得到充分认可c. Government T-bills and T-bonds.d. Government holdings of SDRs25. Which of the following constitutes the largest component of the worlds international reserve assets? 下列哪项构成了世界国际储备资产的大部份？ Da. Gold. b. Special Drawing Rights.c. IMF Reserve Positions. d. Foreign Currencies.外汇（币）26. The net accumulation of foreign assets minus foreign liabilities is: 海外净资产的积累减去外债等于Ca. Net official reserves.b. Net domestic investment.c. Net foreign investment.国外投资净值d. Net foreign deficit.27. A country experiencing a current account surplus: 一个国家经历经常帐户的盈余 Ba. Needs to borrow internationally.b. Is able to lend internationally.就有能力向外放贷c. Must also have had a surplus in its overall balance.d. Spent more than it earned on its merchandise and service trade, international income payments and receipts and international transfers.28. The _C_ measures the sum of the current account balance plus the private capital account balance. 官方结算差额是指经常帐户余额的总和加上私人资本帐（B=CA+FA,FA:为非官方投资和储备）a. Official capital balanceb. Unofficial capital balancec. Official settlements balance官方结算差额d. Unofficial settlements balance29. If the overall balance is in _A_, there is an accumulation of official reserve assets by the country or a decrease in foreign official reserve holdings of the countrys assets. 如果综合差额处于盈余，那么会出现本国官方储备资产的积累或者国外官方储备的减少（B=CA+FA,B+OR=0，OR:官方储备金额）a. Surplus盈余b. Deficitc. Balanced. Foreign hands30. Which of the following is the current account balance NOT equal to? 以下哪项不等同于现金帐 Da. The difference between domestic product and domestic expenditure.b. The difference between national saving and domestic investment.c. Net foreign investment.d. The difference between government saving and government investment. 政府储蓄与政府投资的差值True/False Questions31. Capital inflows are debits and capital outflows are credits. 资金流入是借项，资金外流是贷项 32. The net value of the flow of goods, services, income, and gifts is the current account balance. (T) 商品,服务,收入和单方面转让等现金流的净收益叫经常账目余额 33. The net flow of financial assets and similar claims is the private current account balance. 金融资产和类似的资产的 净值叫 经常帐目余额34. The majority of countries official reserves assets are now foreign exchange assets, financial assets denominated in a foreign currency that is readily acceptable in international transactions. (T)大部份官方储备资产作为以外汇资产和金融资产为命名的外币在世界上交易与流通.35. A countrys financial account balance equals the countrys net foreign investment.一个国家的金融帐差额相当于一个国家的净国外投资36. A country has a current account deficit if it is saving more than it is investing domestically. 一个国家如果在国内的储蓄比投资要大,那么会出现经常账目赤字37. The official settlements balance measures the sum of the capital account balance plus the public current account balance. 官方结算差额是资金帐户余额的总额加上公共经常帐户余额38. A nations international investment position shows its stock of international assets and liabilities at a moment in time. (T)一个国家的国际投资状况反映出它在特定时间里的国际资产股份以及债务情况.39. A nation is a borrower if its current account is in deficit during a time period. (T)在一段时间内,如果一个国家的经常帐出现赤字,那么它就是借方.40. A nation is a debtor if its net stock of foreign assets is positive. 如果一个国家的国外资产净储备是正数,那么它是借方（债务方）41. A transaction leading to a foreign resident increasing her holdings of a U.S. financial asset will be recorded as a debit on the U.S. financial account.如果一项交易引起一外国居民增持美国金融资产的股份,那么这项交易在美国金融帐中会被当作借项42. A credit item is an item for which a country must pay. 贷项是指一个国家必须还款的条项43. Gold is a major reserve asset that is currently often used in official reserve transactions. 黄金作为主要的储备资产,常被用在官方储备交易当中.44. The current account balance is equal to the difference between domestic product and national expenditure.(T) 经常项目余额等于国民生产与国民支出的差额45. In 2007 U.S. households, businesses and government were buying more goods and services than they were producing.(T)年,美国家庭,商业,政府购买的商品和服务比他们生产（商品和服务）的要多.46。你是提供以下信息,一个国家的国际交易,在一个特定年份: CA 余额: $346-354+480-348+153+142=$419；官方结算余额: $346-354+480-348+153+142+252-352+154=$473；Change in official reserve assets (net) =官方结算余额=$473. increasing the holding of official reserve assets. Chapter 3: The Foreign Exchange MarketSingle-Choice Questions1. Foreign exchange is: D外汇交易是a. The act of trading different nations monies.不用国家货币的交易b. The holdings of foreign currency.对不同货币的持有c. The act of importing foreign goods and services.d. Both (a) and (b) are correct. 2. If the price of British pounds in terms of U.S. dollars is $1.80 per pound, then the price of U.S. dollars in terms of British pounds is:B如果英磅对美元的汇率是比.,那么美元对英磅的汇率是比.a. 1.80 per dollar.b. 0.555 per dollar.c. 0.90 per dollar.d. 3.60 per dollar. 3. Suppose the exchange rate between the Japanese yen and the U.S. dollar is 100 yen per dollar. A Japanese stereo with a price of 60,000 yen will cost:B假设日元对美元的汇率是比,那么一台日元为的音响要花多少美元a. $1,667b. $600c. $6,000d. $100 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:Aa. 1.5 won per dollar呢题太简单,不屑翻译自己睇b. 0.75 won per dollarc. $1.50 per wond. $3 per won 5. The _D_ exchange rate is the price for “immediate” currency exchange. 即时汇率是指外汇的即时价格a. Current b. Forwardc. Futured. Spot 6. The _B_ exchange rate is the price set now for an exchange that will take place sometime in the future.远期汇率是指由协议双方预订的将来会发生的汇率a. Current b. Forwardc. Future spot d. Spot 7. The foreign exchange market is:C外汇市场是指a. A single gathering place where traders shout buy and sell orders at each other.b. Located in New York.c. A grouping, by electronic means, of banks and traders who work at banks that conduct foreign exchange trades. 银行和交易者以电子方式集聚于一起进行外汇的买卖d. Located in London. 8. _D_ foreign exchange trading involves currency exchanges done between individuals and banks. 小额外汇交易（散户外汇交易）包含私人与银行间的外汇交易a. Interbankb. Consumerc. Intra-bankd. Retail 9. The U.S. dollar is called a _A_ because it is often used as an intermediary to accomplish trading between two other currencies. 美元被称为周转货币,因为经常被用来完成其它两种货币的交易a. Vehicle currency周转货币（交易通货）b. Main currencyc. Common currencyd. Primary currency 10. Suppose that the exchange value of the British pound is $2 per pound while the exchange value of the Swiss franc is 50 cents per franc. From this we can conclude that the exchange rate between the pound and the franc is:D计算题,到时出中文题自己计啦唔翻啦a. 1 franc per poundb. 2 francs per poundc. 3 francs per poundd. 4 francs per pound 11. Which of the following is NOT a function of the interbank operations of the foreign exchange market? D下列哪一个不是外汇交易市场中银行间操作方式的一种？a. Provides a bank with a continuous stream of information on conditions in the foreign exchange market. b. Provides a bank the means to readjust its own position quickly and at low cost.c. Permits a bank to take on a position in a foreign currency quickly.d. Provides a bank with technological resources for use in foreign exchange trading.提供技术资源给一间银行,用来 进行外汇交易 12. Under the managed float system of exchange rates, a fall in the market price of a currency is called:B在管理浮动汇率制度下,一种货币价格的下降被称为a. Devaluation.b. Depreciation.贬值c. Appreciation.d. Both (a) and (b). 13. Interbank trading is conducted directly between _A_ or through the use of _ that provide anonymity until the trade is complete and reduce search costs.银行间的交易是在交易者之间进行的或者通过经纪人提供操作直到交易结束.a. Traders; brokersb. Brokers; tradersc. Individual consumers; the governmentd. Individual consumers; brokers 14. A countrys demand for foreign currency is derived from:A一个国家对外汇的需求来自于（表示外国货币需求增加，本国货币流出）a. International transactions entering the debit column of its balance of payments accounts.国际交易进入到其收款帐户的借方栏里b. International transactions entering the surplus column of its balance of payments accounts.c. The countrys demand for currency to finance exports and capital inflows.d. The countrys demand for currency to finance its governments compensating transactions. 15. U.S. exports of goods and services will create a _B_ foreign currency and a _ U.S. dollars. 美国商品与服务的出口会创造出外汇的供给以及美元的需求a. Demand for; supply ofb. Supply of; demand forc. Shortage of; demand ford. Supply of; shortage of 16. U.S. imports of goods and services will create a _A_ foreign currency and a _ U.S. dollars. 美国商品与服务的进口会创造出外汇的需求以及美元的供给a. Demand for; supply ofb. Supply of; demand forc. Shortage of; demand ford. Supply of; shortage of 17. U.S. capital inflows will create a _B_ foreign currency and a _ U.S. dollars.美国资本流入会创造出外汇的供给和美元的需求a. Demand for; supply ofb. Supply of; demand forc. Shortage of; demand ford. Supply of; shortage of 18. In a _C_ exchange rate system there is no intervention by the government or central bankers. 浮动汇率制度里,政府与中央银行不得进行干涉a. Fixedb. Peggedc. Floatingd. Managed float 19. As the value of the yen falls relative to the U.S. dollar:C如果日元对美元的汇率下降了,那么对日元的需求会上升a. Japanese goods become more expensive to U.S. consumers.b. The supply of dollars will fall.c. The demand for yen will rise.d. U.S. goods become less expensive to Japanese consumers. 20. The demand curve for foreign currency slopes downward because as the exchange rate _A_ the quantity demanded _.外汇的需求曲线会下降是因为随着汇率的上升,需求量就下降a. Increases; decreasesb. Increases; increasesc. Decreases; decreasesd. Decreases; stays fixed 21. Shifts in demand away from French prod