s in the spot market 答案: 【buy a forward
Chapter 1 Keeping Up With a Changing World-Trade Flows， Capital Flows， and the Balance of Payments
1、 问题: International economic integration refers to
选项：
A:the expansion of world governance and global society.
B:the increased mobility of peoples and information.
C:the strengthening of existing international linkages of commerce and the addition of new linkages.
D: the increasing of market integration.
答案: 【the strengthening of existing international linkages of commerce and the addition of new linkages.】
2、 问题:When someone talks about "invisibles" with respect to globalization， they are referring to
选项：
A: individuals left behind in the development process.
B: the flow of funds that takes place behind the scenes.
C: the increase of trade in services.
D:the influence of government policies that is often not measurable.
答案: 【 the increase of trade in services.】
3、 问题:The real sector of an economy refers to transactions in
选项：
A:the production and sale of domestic goods and services.
B:domestic financial assets.
C: the production and sale of domestic and global goods and services.
D:domestic and global financial assets.
答案: 【 the production and sale of domestic and global goods and services.】
4、 问题: International Economic Integration incorporates
选项：
A:only real sector transactions
B:only financial sector transactions.
C:both real and financial sector transactions.
D:neither real nor financial sector transactions.
答案: 【both real and financial sector transactions.】
5、 问题: Which of the following best describes the way we account for trade in China?
A:We include it as part of GDP.
B:We use a single entry system similar to how we account for GDP.
C:We use a double entry accounting system to measure the total value of our transactions with the world.
D:We use a double entry system that compares domestic transactions to foreign transactions.
答案: 【We use a double entry accounting system to measure the total value of our transactions with the world.】
6、 问题: A debit entry in the balance of payments system could be from which of the following?
选项：
A:a payment from abroad received by a domestic resident.
B:a payment made while abroad by a domestic resident.
C:a decrease in the current account deficit.
D:an increase to the capital account surplus.
答案: 【a payment made while abroad by a domestic resident.】
7、 问题: The United States can be called a net debtor nation. This means that
选项：
A:the value of U.S. assets held abroad is worth less than the value of foreign assets held in the U.S.
B:the U.S. government owes more money than it takes in.
C:the value of the U.S. currency is less than the value of currencies for our main trading partners.
D:the U.S. manufactures more goods abroad than it manufactures domestically.
答案: 【the value of U.S. assets held abroad is worth less than the value of foreign assets held in the U.S.】
8、 问题:A nation that has a stock of foreign financial assets that exceeds the stock of foreign-owned domestic assets is called a
选项：
A:net creditor nation.
B:net debtor nation.
C:surplus nation.
D:debtor nation.
答案: 【net creditor nation.】
Chapter 2： The Market for Foreign Exchange Chapter2
1、 问题:When international banks conduct daily trades of different currencies valuing in the millions of dollars
选项：
A:they are using the spot market.
B:they are using the forward market.
C:they are using the futures market.
D:they are using the stock markets.
答案: 【they are using the spot market.】
2、 问题:The market price of one currency in terms of another currency is also known as
选项：
A:the exchange rate between those currencies.
B:the future rate between those currencies.
C: the spot market.
D: the value of arbitrage.
答案: 【the exchange rate between those currencies.】
3、 问题:If a trader thinks that the value of yen with respect to the euro is about to fall， which of the following would enable him to make a profit?
选项：
A:buy a forward contract for euros
B:buy a forward contract for yen
C: sell yen in the spot market
D:buy euros in the spot market
答案: 【buy a forward contract for euros】
4、 问题: If the bilateral exchange between U.S. dollars and euros is listed as 1.1875 $/€， how many euros would buy $1?
选项：
A:0.8421€
B:1.187€
C: 0.1875€
D:8.421€
答案: 【0.8421€】
5、 问题:If it used to take $2 to buy a Swiss franc and now it takes $1.50 to buy a Swiss franc， then
选项：
A:the dollar must have appreciated.
B: the franc must have appreciated.
C:the fed must have intervened in the exchange markets.
D:the value of Swiss francs must have increased.
答案: 【the dollar must have appreciated.】
6、 问题: An international art dealer finds a Fabergé egg in a remote village in Romania. The owner wants to be paid in Romanian Leu. In order to determine the current price of the egg in dollars the trader would need to calculate
选项：
A:the cross rate.
B:the real effective exchange rate.
C: the nominal exchange rate.
D:the purchasing power parity exchange rate.
答案: 【the cross rate.】
7、 问题:On your first day at work， your boss tells you to call the bank and get the bid and the ask for British pounds. Having just returned from studying in London， you know that the exchange rate should be somewhere around 1.25. You call the number and the lady says "579 and 585." What does that mean?
选项：
A:She didn’t understand your question.
B:The bid is 0.579 and the ask is 0.585.
C:The ask is 0.579 and the bid is 0.585
D:The bid is 1.2579 and the ask is 1.2585.
答案: 【The bid is 1.2579 and the ask is 1.2585.】
8、 问题: Which of the following exchange rates account for changes in price levels between two nations?
选项：
A:bilateral exchange rates
B:nominal exchange rates
C: real exchange rates
D: forward exchange rates
答案: 【 real exchange rates】
9、 问题: The advantage of an effective exchange rate is
选项：
A:it gives us an accurate gauge for the strengthening or weakening of a currency
B:it uses a weighted average of bilateral exchanges based on the country’s trading partners
C:unreliable because its using different weights to reflect trade flows.
D:A and B.
答案: 【A and B.】
10、 问题:The demand for currency is considered
选项：
A:derived because it is determined by the demand for international purchases.
B:linear because it is determined by forces that move so quickly.
C:derived because demand is a function of the government’s intervention in currency markets.
D: relative because it is determined by exogenous variables.
答案: 【derived because it is determined by the demand for international purchases.】
Chapter 3： Exchange Rate Systems， Past to Present Chapter3
1、 问题:Which of the following is the best definition of monetary order?
选项：
A: a set of laws that establishes the framework for the economy to settle and conduct transactions
B: a set of rules for how money will be printed and counted within an economy
C: the policies that govern what will be considered money in an economy
D:the policies that establish the exchange rate system in an economy
答案: 【 a set of laws that establishes the framework for the economy to settle and conduct transactions】
2、 问题:The official price of golds in terms of the national currency is known as
选项：
A: the convertibility factor.
B: the exchange rate.
C:the mint parity rate.
D:the mint stock rate.
答案: 【the mint parity rate.】
3、 问题:One disadvantage of gold as the basis for a currency is
选项：
A:gold is difficult to transport in large quantities.
B: a new discovery of gold could quickly change the value of the currency.
C: a gold standard can be costly to maintain if the currency comes under speculation.
D:all of the above.
答案: 【all of the above.】
4、 问题:Under the Bretton Woods system， participating countries
选项：
A:pegged their currencies to the U.S. dollar.
B: maintained a fixed exchange rate with gold.
C: allowed their currencies to float freely.
D:pegged their values to the British pound.
答案: 【pegged their currencies to the U.S. dollar.】
5、 问题:Which of the following organizations was NOT the result of the Bretton Woods Conference in 1944?
选项：
A:the League of Nations
B: the General Agreement on Tariffs and Trade
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contract for euros】 4、 问题: If the b