米什金货币金融学英文版习题答案chapter18英文习题

米什金货币金融学英文版习题答案chapter18英文习题EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)Chapter18TheForeignExchangeMarket18.1ForeignExchangeMarket1)TheexchangerateisA)thepriceofonecurrencyrelativetogold.B)thevalueofacurrencyrelativetoinflation.C)thechangeinthevalueofmoneyovertime.D)thepriceofonecurrencyrelativetoanother.Answer:DAACSB:ReflectiveThinking2)ExchangeratesaredeterminedinA)themoneymarket.B)theforeignexchangemarket.C)thestockmarket.D)thecapitalmarket.Answer:BAACSB:ReflectiveThinking3)Althoughforeignexchangemarkettradesaresaidtoinvolvethebuyingandsellingofcurrencies,mosttradesinvolvethebuyingandsellingofA)bankdepositsdenominatedindifferentcurrencies.B)SDRs.C)gold.D)ECUs.Answer:AAACSB:ReflectiveThinking4)Theimmediate(two-day)exchangeofonecurrencyforanotherisaA)forwardtransaction.B)spottransaction.C)moneytransaction.D)exchangetransaction.Answer:BAACSB:ReflectiveThinking5)AnagreementtoexchangedollarbankdepositsforeurobankdepositsinonemonthisaA)spottransaction.B)futuretransaction.C)forwardtransaction.D)deposittransaction.Answer:CAACSB:ReflectiveThinking6)Today1eurocanbepurchasedfor$1.10.ThisistheA)spotexchangerate.B)forwardexchangerate.C)fixedexchangerate.D)financialexchangerate.Answer:AAACSB:ReflectiveThinking7)Inanagreementtoexchangedollarsforeurosinthreemonthsatapriceof$0.90pereuro,thepriceistheA)spotexchangerate.B)moneyexchangerate.C)forwardexchangerate.D)fixedexchangerate.Answer:CAACSB:ReflectiveThinking8)WhenthevalueoftheBritishpoundchangesfrom$1.25to$1.50,thepoundhas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:CAACSB:ReflectiveThinking9)WhenthevalueoftheBritishpoundchangesfrom$1.50to$1.25,thenthepoundhas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:BAACSB:ReflectiveThinking10)Whenthevalueofthedollarchangesfrom￡0.5to￡0.75,thentheBritishpoundhas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:BAACSB:ReflectiveThinking11)Whenthevalueofthedollarchangesfrom￡0.75to￡0.5,thentheBritishpoundhas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:CAACSB:ReflectiveThinking12)WhentheexchangeratefortheMexicanpesochangesfrom9pesostotheU.S.dollarto10pesostotheU.S.dollar,thentheMexicanpesohas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:BAACSB:ReflectiveThinking13)WhentheexchangeratefortheMexicanpesochangesfrom10pesostotheU.Sdollarto9pesostotheU.S.dollar,thentheMexicanpesohas________andtheU.S.dollarhas________.A)appreciated;appreciatedB)depreciated;appreciatedC)appreciated;depreciatedD)depreciated;depreciatedAnswer:CAACSB:ReflectiveThinking14)OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout0.75euros.Therefore,oneeurowouldhavepurchasedabout________U.S.dollars.A)0.75B)1.00C)1.33D)1.75Answer:CAACSB:AnalyticalThinking15)OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout49.0Indianrupees.Thus,oneIndianrupeewouldhavepurchasedabout________U.S.dollars.A)0.02B)1.20C)7.00D)49.0Answer:AAACSB:AnalyticalThinking16)OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout1.15Swissfrancs.Therefore,oneSwissfrancwouldhavepurchasedabout________U.S.dollars.A)0.30B)0.87C)1.15D)3.10Answer:BAACSB:AnalyticalThinking17)OnJanuary25,2009,oneU.S.dollartradedontheforeignexchangemarketforabout3.33Romaniannewlei.Therefore,oneRomaniannewleiwouldhavepurchasedabout________U.S.dollars.A)0.30B)1.86C)2.86D)3.33Answer:AAACSB:AnalyticalThinking18)IftheU.S.dollarappreciatesfrom1.25SwissfrancperU.S.dollarto1.5francsperdollar,thenthefrancdepreciatesfrom________U.S.dollarsperfrancto________U.S.dollarsperfranc.A)0.80;0.67B)0.67;0.80C)0.50;0.33D)0.33;0.50Answer:AAACSB:AnalyticalThinking19)IftheBritishpoundappreciatesfrom$0.50perpoundto$0.75perpound,theU.S.dollardepreciatesfrom________perdollarto________perdollar.A)￡2;￡2.5B)￡2;￡1.33C)￡2;￡1.5D)￡2;￡1.25Answer:BAACSB:AnalyticalThinking20)IftheJapaneseyenappreciatesfrom$0.01peryento$0.02peryen,theU.S.dollardepreciatesfrom________perdollarto________perdollar.A)100￥;50￥B)10￥;5￥C)5￥;10￥D)50￥;100￥Answer:AAACSB:AnalyticalThinking21)Ifthedollarappreciatesfrom1.5Brazilianrealsperdollarto2.0realsperdollar,therealdepreciatesfrom________perrealto________perreal.A)$0.67;$0.50B)$0.33;$0.50C)$0.75;$0.50D)$0.50;$0.67E)$0.50;$0.75Answer:AAACSB:AnalyticalThinking22)WhentheexchangeratefortheBritishpoundchangesfrom$1.80perpoundto$1.60perpound,then,holdingeverythingelseconstant,thepoundhas________and________expensive.A)appreciated;BritishcarssoldintheUnitedStatesbecomemoreB)appreciated;BritishcarssoldintheUnitedStatesbecomelessC)depreciated;AmericanwheatsoldinBritainbecomesmoreD)depreciated;AmericanwheatsoldinBritainbecomeslessAnswer:CAACSB:AnalyticalThinking23)IfthedollardepreciatesrelativetotheSwissfrancA)SwisschocolatewillbecomecheaperintheUnitedStates.B)AmericancomputerswillbecomemoreexpensiveinSwitzerland.C)Swisschocolatewillbe