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绪论 单元测试
1、单选题：
The recent global economy is experiencing the three-low situation such as ________ .
选项：
A:low interest rate, low unemployment and low population
B:low interest rate, low inflation and low economic growth
C:low inflation, low government expenditure and low price
D:low population, low economic growth and low tax rate
答案: 【low interest rate, low inflation and low economic growth
】
2、单选题：
Which of the following statements incorrectly describes China?
选项：
A:China is the largest goods-trade country.
B:China is the largest foreign reserve holder.
C:China is the largest manufacturing country.
D:China is the largest capital-outflow country.
答案: 【China is the largest capital-outflow country.
】
3、单选题：
Which of the following managements least likely represents the dimension of macroeconomic analysis of international finance?
选项：
A:Management of internal and external balance
B:Foreign exchange exposure management
C:Management of balance of payments
D:International monetary management
答案: 【Foreign exchange exposure management
】
4、单选题：
Libra white paper initially introduced by Facebook on June 18th,2019 shows that Libra is most likely ______.
选项：
A:the plastic money
B:the legal tender
C:the paper money
D:the fictitious cryptocurrency
答案: 【the fictitious cryptocurrency
】
5、单选题：
A nation’s macroeconomic performance involves the performance of three markets such as ________.
选项：
A:the labor market, the capital market, and the land market.
B:the domestic product market, domestic stock market, and foreign exchange market.
C:the domestic goods market, domestic services market, and domestic financial market.
D:the domestic money market, the domestic product market, and foreign exchange market.
答案: 【the domestic money market, the domestic product market, and foreign exchange market.
】
6、单选题：
Multinational corporations usually are exposed to three typical kinds of foreign exchange exposure, such as_______.
选项：
A:transaction exposure,speculative exposure,and precautionary exposure
B:transaction exposure, operating exposure, and translation exposure
C:accounting exposure, investment exposure, and financing exposure
D:accounting exposure,financial exposure, and economic exposure
答案: 【transaction exposure, operating exposure, and translation exposure
】
7、单选题：
The objective of international portfolio management is _______.
选项：
A:to go ahead with a capital budgeting project with positve net present value.
B:to select capital budgeting projects with higher internal rate of return than the required rate of return.
C:to select international securities with the same rates of return as domestic securities.
D:to construct an optimal international portfolio with minimum risk.
答案: 【to construct an optimal international portfolio with minimum risk.
】
8、单选题：
From the perspective of microeconomics, the practices of international finance leastly likely involves_________.
选项：
A:international investment management
B:foreign exchange exposure management
C:international monetary management
D:international financing management
答案: 【international monetary management】
9、判断题：
The feasibility of the international capital budgeting decision can only be determined from the parent company viewpoint.（ ）
选项：
A:错
B:对
答案: 【错】
10、判断题：
Multinational corporations can conduct financial transactions or use operational techniques to manage foreign exchange exposure.（ ）
选项：
A:错
B:对
答案: 【对】
第一章 单元测试
1、单选题：
The J curve shows that:
选项：
A:devaluation is likely to be unstable.
B:devaluation is unlikely to improve the trade balance in either the short-run or the long-run.
C:devaluation is more likely to improve the trade balance in the short-run than in the long-run.
D:devaluation is more likely to improve the trade balance after a longer span of time has elapsed.
答案: 【devaluation is more likely to improve the trade balance after a longer span of time has elapsed.
】
2、单选题：
Which of the following would tend to contribute to a U.S. current account surplus?
选项：
A:U.S. tourists travel in large numbers to Asia.
B:Russian vodka becomes increasingly popular in the United States.
C:The United States makes a unilateral tariff reduction on imported goods.
D:The United States cuts back on American military personnel stationed in Japan.
答案: 【The United States cuts back on American military personnel stationed in Japan.】
3、单选题：
Official reserve assets are：
选项：
A:money like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them.
B:government holdings of SDR’s.
C:the gold holdings in the nation’s central bank.
D:government T-bills and T-bonds.
答案: 【money like assets that are held by governments and that are recognized by governments as fully acceptable for payments between them.】
4、单选题：
If the overall balance in the balance of payments account is in _____, there can be an accumulation of official reserve assets by the country or a decrease in foreign official reserve holdings of the country’s assets.
选项：
A:equilibrium
B:surplus
C:remission
D:deficit
答案: 【surplus】
5、单选题：
A statement of the stocks of a country’s foreign assets and foreign liabilities at a point in time represents the country’s:
选项：
A:balance of payments
B:financial account balance
C:international investment position
D:government budget surplus or deficit
答案: 【international investment position】
6、单选题：
If the balance of payments accounts of a country shows a current account deficit, it means that:
选项：
A:its foreign assets are growing faster than its foreign liabilities.
B:it is acting as a net lender to the rest of the world.
C:its exports are higher than its imports.
D:its foreign assets are growing slower than its foreign liabilities.
答案: 【its foreign assets are growing slower than its foreign liabilities.】
7、单选题：
Marshall-Lerner condition is that the payments deficit will be improved as a result of currency depreciation only if_______ .
选项：
A:the sum of elasticity of demand for goods import and that for goods export is larger than one.
B:the sum of elasticity of demand for goods import and that for goods export equals one.
C:the sum of elasticity of demand for goods import and that for goods export is less than one.
D:the sum of elasticity of demand for goods import is greater than that for goods export.
答案: 【the sum of elasticity of demand for goods import and that for goods export is larger than one.】
8、单选题：
According to the absorption approach to balance of payments, if a nation’s national income is less than its national expenditure, it will ________.
选项：
A:will tend to move into payments surplus.
B:experience payments deficit.
C:experience no change in its official settlement balance.
D:will tend to move into payments balance.
答案: 【experience payments deficit.】
9、判断题：
The net flow of financial assets and similar claims is the private current account balance.（ ）
选项：
A:错
B:对
答案: 【错】
10、判断题：
A country’s nonofficial financial account balance equals its net foreign investment.（ ）
选项：
A:错
B:对
答案: 【错】
第二章 单元测试
1、单选题：
Based on PPP and the quantity theory of money, everything else remaining unchanged, if Japan’s real income rises relative to real income in the U.S., there would be a(n):
选项：
A:appreciation of the dollar.
B:decrease in the demand for yen in the foreign exchange market.
C:appreciation of the yen.
D:interest rate parity.
答案: 【appreciation of the yen.】
2、单选题：
The retail part of the foreign exchange market does not include traders at banks trading with:
选项：
A:nonfinancial companies that sometimes want to buy and sell different currencies.
B:traders at other banks.
C:national governments.
D:stock brokers who trade in the assets of the firms in different nations.
答案: 【traders at other banks.】
3、单选题：
Suppose the dollar per pound exchange rate is $2 per pound while the dollar per Swiss franc exchange rate is 50 cents per franc. From the given information we can conclude that the Swiss franc per pound exchange rate is:
选项：
A:4 francs per pound.
B:too high.
C:1 franc per pound.
D:too low.
答案: 【4 francs per pound.】
4、单选题：
Rapid increases in the U.S. exports of goods and services will result in a(n) _____ foreign currency and a(n) _____ the U.S. dollars in the foreign exchange market.
选项：
A:decrease in the supply of; decrease in the demand for
B:increase in the demand for; increase in the supply of
C:shortage of foreign currency; surplus of
D:increase in the supply of; increase in the demand for
答案: 【increase in the supply of; increase in the demand for】
5、单选题：
Under a floating exchange rate system, an increase in the international demand for electronic appliances manufactured in Japan will result in:
选项：
A:A depletion of international reserves held by the central bank of Japan.
B:An appreciation of the yen vis-à-vis other currencies.
C:Deflation in the Japanese economy.
D:An increase in Japan’s trade deficit with other countries.
答案: 【An appreciation of the yen vis-à-vis other currencies.】
6、单选题：
Assume you are a Chinese exporter and expect to receive $250,000 at the end of 60 days. You can remove the risk of loss due to a devaluation of the dollar by:
选项：
A:buying dollars now and selling these dollars at the end of 60 days.
B:selling dollars in the 60-day forward exchange market.
C:selling the yuan equivalent in the forward exchange market for 60-day delivery.
D:keeping the dollars in the United States after they are delivered to you.
答案: 【selling dollars in the 60-day forward exchange market.】
7、单选题：
The Bretton Woods System is exposed to a dilemma known as _______.
选项：
A:ethical dilemma
B:two-pegging system
C:Triffin Paradox
D:impossible Trinity
答案: 【Triffin Paradox
】
8、单选题：
The _____ effect suggests that speculations can sometimes be destabilizing as the actions of the international investors move the exchange rate away from the long-run equilibrium value consistent with fundamental economic influences.
选项：
A:arbitrage
B:exchange rate
C:overshooting
D:bandwagon
答案: 【bandwagon】
9、判断题：
To maintain an undervalued currency, the country’s monetary authorities must intervene in the foreign exchange market to buy its currency in the foreign exchange market.（ ）
选项：
A:对
B:错
答案: 【错】
10、判断题：
Price-specie-flow mechanism posits that the misalignment of exchange rate under the classical gold standard can be automatically corrected.（ ）
选项：
A:对
B:错
答案: 【错】
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