国际经济学 金融部分

1. If the dollar interest rate is 10 percent and the euro interest rate is 6 percent,

and the expected return on dollar depreciation against the euro is 8 percent,

then

A.an investor should invest only in dollars.

B.an investor should invest only in euros.

C.an investor should be indifferent between dollars and euros.

D.It is impossible to tell given the information.

E.All of the above.

Answer: B

2. Which of the following statements is the most accurate?

A. A rise in the interest rate offered by dollar deposits causes the dollar to

appreciate.

B. A rise in the interest rate offered by dollar deposits causes the dollar to

depreciate.

C. A rise in the interest rate offered by dollar deposits does not affect the

U.S. dollar.

D.For a given euro interest rate and constant expected exchange rate, a

rise in the interest rate offered by dollar deposits causes the dollar to

appreciate.

E.None of the above.

Answer: D

3. Individuals base their demand for an asset on

A.the expected return the asset offers compared with the returns offered

by other assets.

B.the riskiness of the asset’s expected return.

C.the asset’s liquidity.

D.All of the above.

E.Only A and B.

Answer: D

4. An increase in a country’s money supply causes

A.its currency to appreciate in the foreign exchange market, while a

reduction in the money supply causes its currency to depreciate.

B.its currency to depreciate in the foreign exchange market, while a

reduction in the money supply causes its currency to appreciate.

C.no effect on the values of its currency in international markets.

D.its currency to depreciate in the foreign exchange market, while a

reduction in the money supply causes its currency to further depreciate.

E.None of the above.

Answer: B

5. Which one of the following statements is the most accurate?

A. A decrease in the money supply lowers the interest rate, while an

increase in the money supply raises the interest rate, given the price

level and output.

B.An increase in the money supply lowers the interest rate, while a fall in

the money supply raises the interest rate, given the price level.

C.An increase in the money supply lowers the interest rate, while a fall in

the money supply raises the interest rate, given the output level.

D.An increase in the money supply lowers the interest rate, while a fall in

the money supply raises the interest rate, given the price level and

output.

E. None of the above.

Answer: D

6. Which one of the following statements is the most accurate?

A.Only the long-run equilibrium price level is the value of P satisfying

P=M S/L(R,Y).

B.Only the short-run equilibrium price level is the value of P satisfying

P=M S/L(R,Y).

C.The short and long-run equilibrium price level is the value of P

satisfying P=M S/L(R,Y).

D.The long-run equilibrium price level is the value of P satisfying

P=M D/L(R,Y).

E.None of the above.

Answer: C

7. A change in the level of the supply of money

A.increases the long-run values of the interest rate and real output.

B.decreases the long-run values of the interest rate and real output.

C.has no effect on the long-run value of only the interest rate.

D.has no effect on the long-run value of only real output.

E.has no effect on the long-run values of the interest rate and real output.

Answer: E

8. Changes in the money supply growth rate

A.are neutral in the short run.

B.need not be neutral in the short run.

C.are neutral both in the short and long run.

D.are neutral in the long run.

E.need not be neutral in the long run.

Answer: D

9. A sustained change in the monetary growth rate will

A.immediately affect equilibrium real money balances by raising the

money interest rate.

B.eventually affect equilibrium nominal money balances by raising the

money interest rate.

C.eventually affect equilibrium real money balances by reducing the

money interest rate.

D.eventually affect equilibrium real money balances by raising the real

interest rate.