Multinational Financial Management 10th Edition 题库ch02

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1、Chapter2,TheDeterminationofExchangeRatesCHAPTER2TheDeterminationofExchangeRatesEASY2.1ThemostlikelyexplanationfortheriseoftheU.S.dollarduringtheearly1980sisthattheU.S.a.budgetdeficitloweredU.S.interestratesb.tradedeficitacceleratedU.S.inflationc.economysloweddramaticallyd.budgetdeficitraisedU

2、.S.interestratesAns:cSection:ExpectationsandtheassetmarketmodelofexchangeratesLevel:Easy2.2TheU.S.dollarweakenedduringthe1970sforthefollowingreasonsEXCEPTa.U.S.inflationacceleratedb.theU.S.economyweakenedc.foreignersdidn'twanttoholdasmanydollarsasbefored.foreignersdidwanttoholdmanymoredollars

3、thanbeforeAns:dSection:ExpectationsandtheassetmarketmodelofexchangeratesLevel:Easy2.3Ofthefollowing,exchangeratesdependthemostuponrelativea.monetarysystemsb.politicalsystemsc.tradedeficitsd.inflationratesbetweennationsAns:dSection:ThenatureofmoneyandcurrencyvaluesLevel:Easy2.4______isanothern

4、ameforthecompletereplacementofthelocalcurrencywiththeU.S.dollar.a.Seignorageb.Dollarizationc.Depreciationd.AppreciationAns:bSection:DollarizationLevel:EasyChapter2,TheDeterminationofExchangeRates2.5TosomeU.S.manufacturersandlaborunions,acheapyuanvaluegivesChina’s__________anunfairadvantageint

5、heglobaleconomy.a.importsb.subsidiesc.bankersd.exportersAns:dSection:Mini-Case:AyenforyuanLevel:Easy2.6TheassetmarketviewofexchangeratedeterminationdoesNOTstateethatthespotratea.shouldfollowarandomwalkb.isaffectedprimarilybyanation'slongruneconomicprospectsc.isinfluencedbyanation’sannualecon

6、omicgrowthd.shouldbestronglyaffectedbyanation'sbalanceoftradeAns:dSection:ExpectationsandtheassetmarketmodelofexchangeratesLevel:Easy2.7Whenmonetaryauthoritieshavenotinsulatedtheirdomesticmoneysuppliesfromtheforeignexchangetransactions,itisknownas________intervention.a.unsterilizedb.sterilize

7、dc.foreignmarketd.subsidizedAns:aSection:SterilizedversusunsterilizedinterventionLevel:Easy2.8WhentheU.S.FederalReservesellsorpurchasesTreasurysecuritiesinordertosterilizetheimpactoftheirforeignexchangemarketinterventions,itisreferredtoasa(n.