国际金融中英文版(带解析)

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1、。国际金融中英文版Chapter 2:Payments among NationsSingle-Choice Questions1.A country s balance of payments records:一个国家的国际收支平衡记录了Ba. The value of all exports of goods and services from that country for a period of time.b.All flows of value between that country s residents and residentsoftherest of the world

2、during a period of time.在一定时间段里 ,一个国家居民的资产和其它世界居民资产的流动c. All flows of financial assets that cross that countrys borders duringa period of time.d. All flows of goods into that country during a period of time.2.3.A credit item in the balance of payments is:在国际收支平衡里的贷项是Aa.An item for which the country

3、must be paid.一个国家必须收取的条款b. An item for which the country must pay.c. Any imported item.d. An item that creates a monetary claim owed to a foreigner.4.Every international exchange of value is entered into the balance-of-paymentsaccounts _ time(s).每一次国际等价交换都记进国际收支帐户次Ba. 1b. 2c. 3d. 45.A debit item in

4、the balance of payments is:在国际收支平衡中的借项是Ba.An item for which the country must be paid.b.An item for which the country must pay.一个国家必须支付的条款c. Any exported item.d. An item that creates a monetary claim on a foreigner.。1。6.In a nations balance of payments, which one of the following items is alwaysrecor

5、ded as a positive entry?D在国际收支中 ,下列哪个项目总被视为有利条项a. Changes in foreign currency reserves.b. Imports of goods and services.c. Military foreign aid supplied to allied nations.d.Purchases by foreign travelers visiting the country.国外游客在本国发生的购买7.The sum of allof the debit items in the balance of payments:在

6、收支平衡中 ,所有贷项的总和Ba.Equals the overall balance.b.Equals the sum of all credit items.等于所有借项的总和c. Equals compensating transactions.d. Equals the sum of credit items minus errors and omissions.8.Which of the following capital transactions are entered as debits in the U.S.balance of payments?下列哪个资本交易在美国的收支

7、平衡中当作借项？Ba. A U.S. resident transfers $100 from his account at Credit Suisse in Basel (Switzerland) to his account at a San Francisco branch of Wells Fargo Bank. b. A French resident transfers $100 from his account at Wells Fargo Bank inSan Francisco to his Credit Suisse account in Basel.一个法国居民在旧金山的

8、 Fargo Bank 用其帐户转帐美金到位于巴塞尔的瑞士信贷户口c. A U.S. resident sells his IBM stock to a French resident.d. A U.S. resident sells his Credit Suisse stock to a French resident.9.An increase in a nations financial liabilities to foreign residents is a: 一个国家对另一个国家金融负债的增加是一种 Ca. Reserve inflow.b. Reserve outflow.c.

9、 Capital inflow.资本流入d. Capital outflow.10._A_ are money-like assets that are held by governments and that arerecognized by governments as fully acceptable for payments between them.官。2。方国际储备资产是一种类似于钱的资产， 这种资产由政府掌握并作为政府间的一种支付手段得到充分认可 .a.Official international reserve assets官方国际储备资产b. Unofficial inter

10、national reserve assetsc. Official domestic reserve assetsd. Unofficial domestic reserve assets11.Which of the following is considered a capitalinflow ?下列哪项被视为资本流入Aa.A sale of U.S. financial assets to a foreign buyer.美国一金融资产卖给一外国买家b. A loan from a U.S. bank to a foreign borrower.c. A purchase of for

11、eign financial assets by a U.S. buyer.d. A U.S. citizen s repayment of a loan from a foreign bank.12.In a country s balance of payments, which of the following transactions aredebits一个国家的收支平衡表中,哪个交易属于借项？A?a.Domestic bank balances owned by foreigners are decreased.外国人拥有的国内银行资产的下降b. Foreign bank balan

12、ces owned by domestic residents are decreased.c. Assets owned by domestic residents are sold to nonresidents.d. Securities are sold by domestic residents to nonresidents.13.The roleof _D_isto directone nation s savingsintoanothernation sinvestments:资金流的作用是指导一个国家的储蓄进入到另一个国家的投资a. Merchandise trade flo

13、wsb. Services flowsc. Current account flowsd.Capital flows资金流14.The net value of flowsof goods, services,income, and unilateraltransfersiscalled the:商品 , 服务 , 收入和单方面转让等现金流的净收益叫经常账目（户）Ba.Capital account.b.Current account.经常账目（户）c.Trade balance.d.Official reserve balance.。3。15.The net value of flows o

14、f financialassets and similarclaims (excludingofficialinternational reserve asset flows) is called the:金融资产和类似的资产（官方国际储备资产流除外）的净值流叫 Aa.Financial account.金融帐b. Current account.c. Trade balance.d. Official reserve balance.15.The financial account in the U.S. balance of payments includes:美国国家收支表中的金融帐包括

15、：Ba.Everything in the current account.b.U.S. government payments to other countriesforthe use of militarybases.美政府采用其它国家军事基地所需支付款项c. Profits that Nissan of America sends back to Japan.d. New U.S. investments in foreign countries.16. U.S. resident increasing her holdings of a foreign financial asset

16、causesa: 一个美国居民 增持一外国金融资产会引起 Da. Credit in the U.S. current account.b. Debit in the U.S. current account.c. Credit in the U.S. capital account.d.Debit in the U.S. capital account.美国资本帐的借帐17.A foreignresidentincreasingher holdingsof a U.S. financialasset causes a:一个美国居民增持本国一金融资产会引起Ca. Credit in the U

17、.S. current account.b. Debit in the U.S. current account.c.Credit in the U.S. capital account.美国资本帐的贷帐d.Debit in the U.S. capital account.18.A deficit in the current account:经常帐户中的赤字Aa.Tends to cause a surplus in the financial account.会导致金融帐中的盈余b. Tends to cause a deficit in the financial account.c.

18、 Has no relationship to the financial account.d. Is the result of increasing exports and decreasing imports.。4。19.In September, 2005, exports of goods from the U.S. decreased $3.3 billion to$73.4 billion, and imports of goods increased $3.8 billion to $144.5 billion.This increased the deficit in:200

19、5年 8 月, 美国商品出口降低了33 亿美元 , 共 734亿美元；商品进口上升到1145 亿美元 , 上长了 38 亿. 这样增加了哪个方面的赤字？Ca. The balance of payments.b. The financial account.c.The current account.经常帐户d.Unilateral transfers.20.Which of the followingwould contributeto a U.S. currentaccount surplus?以下哪项有助于美国现金帐的盈余？Ba.The United States makes a uni

20、lateraltariffreductionon importedgoods.b. The United States cuts back on American military personnel stationed in Japan. 美国削减在日本的军事人员c. U.S. tourists travel in large numbers to Asia.d. Russian vodka becomes increasingly popular in the United States.21.Which of the following transactions is recorded

21、in the financial account?以下哪个交易会被当作金融帐Aa.Ford motor company builds a new plant in China福特摩托公司在中国设立车间b. A Chinese businessman imports Ford automobiles from the United States.c. A U.S. tourist spends money on a trip to China.d. The New York Yankees are paid $10 million by the Chinese to play an exhibi

22、tion game in Beijing, China.22.Ifa Britishbusiness buys U.S. government securities,how willthisbe enteredin the balance of payments?如果一英国商人购买了美国政府的债券, 那么这个交易在收支平衡表中会被当作是？Ca. It will appear in the trade account as an import.b. It will appear in the trade account as an export.c.Itwillappear in the fin

23、ancialaccount as an increasein U.S. assets heldby foreigners.会被当作是外国人所有的美国资产增长d.Itwillappear in the financialaccount as a decrease in U.S. assets heldby foreigners.。5。23.In the balance of payments, the statistical discrepancy or error term is usedto:在收支平衡表中 ,统计差异与错误项目会用来确保借帐总和跟贷帐总和一致 Aa. Ensure that

24、 the sum of all debits matches the sum of all credits.b. Ensure that imports equal the value of exports.c. Obtain an accurate account of a balance-of-payments deficit.d. Obtain an accurate account of a balance-of-payments surplus.24.Official reserve assets are:官方储备资产是Ba.The gold holdings in the nati

25、ons central bank.b.Money like assets that are held by governments and that are recognizedby governments as fully acceptable for payments between them.官方国际储备资产是一种类似于钱的资产， 这种资产由政府掌握并作为政府间的一种支付手段得到充分认可c.Government T-bills and T-bonds.d.Government holdings of SDRs25.Which of the following constitutes th

26、e largest component of the worldsinternational reserve assets?下列哪项构成了世界国际储备资产的大部份？Da. Gold.b. Special Drawing Rights.c. IMF Reserve Positions.d.Foreign Currencies.外汇（币）26.The net accumulation of foreign assets minus foreign liabilities is:海外净资产的积累减去外债等于Ca. Net official reserves.b. Net domestic inves

27、tment.c.Net foreign investment.国外投资净值d.Net foreign deficit.27.A country experiencing a current account surplus:一个国家经历经常帐户的盈余Ba. Needs to borrow internationally.b.Is able to lend internationally.就有能力向外放贷c.Must also have had a surplus in its overall balance.。6。d.Spent more than it earned on its mercha

28、ndise and service trade,internationalincome payments and receiptsand internationaltransfers.28.The _C_measures the sum of the currentaccount balance plus the privatecapital account balance.官方结算差额是指经常帐户余额的总和加上私人资本帐（ B=CA+FA,FA:为非官方投资和储备）a. Official capital balanceb. Unofficial capital balancec.Offici

29、al settlements balance官方结算差额d.Unofficial settlements balance29.Ifthe overallbalance is in _A_, thereis an accumulationof officialreserve assets by the countryor a decrease in foreignofficialreserveholdingsof the countrys assets.如果综合差额处于盈余，那么会出现本国官方储备资产的积累或者国外官方储备的减少（B=CA+FA,B+OR=0，OR:官方储备金额）a.Surplu

30、s 盈余b.Deficitc.Balanced.Foreign hands30.Which of the following is the current account balance NOT equal to?以下哪项不等同于现金帐Da. The difference between domestic product and domestic expenditure.b. The difference between national saving and domestic investment.c. Net foreign investment.d.The difference betw

31、een government saving and government investment.政府储蓄与政府投资的差值True/False Questions31.Capital inflows are debits and capital outflows are credits.资金流入是借项，资金外流是贷项32.The net value of the flow of goods, services, income, and gifts is the currentaccount balance. (T)商品 , 服务 , 收入和单方面转让等现金流的净收益叫经常账目余额。7。33.Th

32、e net flow of financial assets and similar claims is the private current account balance. 金融资产和类似的资产的 净值叫 经常帐目余额34.The majority of countries official reserves assets are now foreign exchangeassets, financial assets denominated in a foreign currency that is readilyacceptable in international transact

33、ions. (T)大部份官方储备资产作为以外汇资产和金融资产为命名的外币在世界上交易与流通.35.A countrys financial account balance equals the countrys net foreign investment. 一个国家的金融帐差额相当于一个国家的净国外投资36.A country has a current account deficit if it is saving more than it is investing domestically.一个国家如果在国内的储蓄比投资要大, 那么会出现经常账目赤字37.The officialsett

34、lementsbalance measures the sumof the capitalaccount balanceplus the public current account balance.官方结算差额是资金帐户余额的总额加上公共经常帐户余额38.A nations international investment position shows its stock of internationalassets and liabilities at a moment in time. (T)一个国家的国际投资状况反映出它在特定时间里的国际资产股份以及债务情况.39.A nationis

35、 a borrower ifitscurrentaccount is in deficitduringa time period.(T)在一段时间内 , 如果一个国家的经常帐出现赤字, 那么它就是借方 .40.A nation is a debtor if its net stock of foreign assets is positive.如果一个国家的国外资产净储备是正数, 那么它是借方（债务方）。8。41.A transaction leading to a foreign resident increasing her holdings of a U.S.financial asse

36、t will be recorded as a debit on the U.S. financial account.如果一项交易引起一外国居民增持美国金融资产的股份 , 那么这项交易在美国金融帐中会被当作借项42.A credit item is an item for which a country must pay.贷项是指一个国家必须还款的条项43.Gold is a majorreserve assetthatis currently often used in official reservetransactions.黄金作为主要的储备资产, 常被用在官方储备交易当中.44.Th

37、e currentaccount balance is equal to the differencebetween domestic productand national expenditure.(T)经常项目余额等于国民生产与国民支出的差额45.In 2007 U.S. households, businesses and government were buying more goods and services than they were producing.(T) 年 , 美国家庭 , 商业 , 政府购买的商品和服务比他们生产（商品和服务）的要多.46。你是提供以下信息 , 一个

38、国家的国际交易 , 在一个特定年份 :Service exports$346Service imports$354Merchandise exports$480Merchandise imports$348Income flows, net$153Unilateral transfers, net$142Increase in the country抯holding of foreign assets, net(excluding official reserves assets)$352Increase in foreign holdings of the country抯assets, n

39、et(excluding official reserve assets)$252Statistical discrepancy, net$154CA余额:$346-354+480-348+153+142=$419；官方结算余额 : $346-354+480-348+153+142+252-352+154=$473 ；Change in official reserve assets (net) =官方结算余额 =$473. increasing the holding of official reserve assets.。9。Chapter 3:The Foreign Exchange M

40、arketSingle-Choice Questions1.Foreign exchange is:D外汇交易是a.The act of trading different nationsmonies.不用国家货币的交易b.The holdings of foreign currency.对不同货币的持有c. The act of importing foreign goods and services.d. Both (a) and (b) are correct.2.If the price of British pounds in terms of U.S. dollars is $1.

41、80 per pound,then the price of U.S. dollars in terms of British pounds is:B如果英磅对美元的汇率是比 . , 那么美元对英磅的汇率是比. a.1.80 per dollar.b.0.555 per dollar.c.0.90 per dollar.d.3.60 per dollar.3.Suppose the exchange rate between the Japanese yen and the U.S. dollar is100 yen per dollar. A Japanese stereo with a p

42、rice of 60,000 yen will cost:B 假设日元对美元的汇率是比 , 那么一台日元为的音响要花多少美元a. $1,667b. $600c. $6,000d. $1004. Suppose that a Korean television set that costs 600 won in Korea costs $400 in the United States. These prices suggest that the exchange rate between the won and the dollar is:Aa. 1.5 won per dollar呢题太简单

43、 , 不屑翻译 自己睇b. 0.75 won per dollarc. $1.50 per wond. $3 per won。10。5.The _D_exchange rate is the pricefor “immediate ”currencyexchange.即时汇率是指外汇的即时价格a. Currentb. Forwardc. Futured. Spot6.The _B_ exchange rateisthe priceset now foran exchange thatwilltake place sometime in the future.远期汇率是指由协议双方预订的将来会发

44、生的汇率a.Currentb.Forwardc.Future spotd.Spot7.The foreign exchange market is:C外汇市场是指a.A single gathering place where traders shout buy and sell orders at each other.b. Located in New York.c. A grouping, by electronic means, of banks and traders who work at banksthat conduct foreign exchange trades. 银行和

45、交易者以电子方式集聚于一起进行外汇的买卖d. Located in London.8. _D_ foreign exchange trading involves currency exchanges donebetween individuals and banks. 小额外汇交易（散户外汇交易）包含私人与银行间的外汇交易a. Interbankb. Consumerc. Intra-bankd. Retail9. The U.S. dollar is called a _A_ because it is often used as anintermediary to accomplish

46、trading between two other currencies.美元被称为周转货币 , 因为经常被用来完成其它两种货币的交易a.Vehicle currency周转货币（交易通货）b.Main currency。11。c. Common currencyd. Primary currency10.Suppose that the exchange value of the British pound is $2 per pound while the exchange value of the Swiss franc is 50 cents per franc. From this

47、we can conclude that the exchange rate between the pound and the franc is:D 计算题 , 到时出中文题自己计啦 唔翻啦a. 1 franc per poundb. 2 francs per poundc. 3 francs per poundd. 4 francs per pound11.Which of the following is NOT a function of the interbank operations of theforeign exchange market? D下列哪一个不是外汇交易市场中银行间

48、操作方式的一种？a.Providesa bank with a continuousstreamof informationon conditionsinthe foreign exchange market.b.Providesa bank the meansto readjust itsown positionquicklyand atlowcost.c.Permits a bank to take on a position in a foreign currency quickly.d.Providesa bank with technologicalresources for use

49、 in foreignexchangetrading. 提供技术资源给一间银行 , 用来 进行外汇交易12.Under the managedfloatsystem of exchange rates,a fallin the market priceof a currency is called:B在管理浮动汇率制度下 , 一种货币价格的下降被称为a. Devaluation.b. Depreciation.贬值c. Appreciation.d. Both (a) and (b).13.Interbank trading is conducted directly between _A_

50、or through theuse of _ that provide anonymity until the trade is complete andreduce search costs. 银行间的交易是在交易者之间进行的或者通过经纪人提供操作直到交易结束 .a. Traders; brokersb. Brokers; traders。12。c. Individual consumers; the governmentd. Individual consumers; brokers14.A countrys demand for foreign currency is derived f

51、rom:A一个国家对外汇的需求来自于（表示外国货币需求增加，本国货币流出）a. International transactions entering the debit column of its balance of payments accounts. 国际交易进入到其收款帐户的借方栏里b.Internationaltransactions enteringthe surpluscolumn of itsbalance ofpayments accounts.c.The country s demandforcurrencytofinanceexports and capitalinfl

52、ows.d.The country s demandforcurrencyto financeitsgovernments compensatingtransactions .15.U.S. exportsof goods and serviceswillcreatea _B_foreigncurrencyand a _ U.S. dollars.美国商品与服务的出口会创造出外汇的供给以及美元的需求a.Demand for; supply ofb.Supply of; demand forc.Shortage of; demand ford.Supply of; shortage of16.U

53、.S. importsof goods and serviceswillcreatea _A_foreigncurrencyand a _ U.S. dollars.美国商品与服务的进口会创造出外汇的需求以及美元的供给a.Demand for; supply ofb.Supply of; demand forc.Shortage of; demand ford.Supply of; shortage of17.U.S. capital inflows will create a _B_ foreign currency and a_ U.S. dollars.美国资本流入会创造出外汇的供给和美

54、元的需求a. Demand for; supply ofb. Supply of; demand forc. Shortage of; demand ford. Supply of; shortage of。13。18.In a _C_ exchange rate system there is no intervention by thegovernment or central bankers.浮动汇率制度里 ,政府与中央银行不得进行干涉a. Fixedb. Peggedc. Floatingd. Managed float19.As the value of the yen falls

55、relative to the U.S. dollar:C如果日元对美元的汇率下降了 , 那么对日元的需求会上升a. Japanese goods become more expensive to U.S. consumers.b. The supply of dollars will fall.c. The demand for yen will rise.d. U.S. goods become less expensive to Japanese consumers.20.The demandcurve forforeigncurrency slopes downwardbecause as the exchangerate _A_ the quantity demanded _.外汇的需求曲线会下降是因为随着汇率的上升 , 需求量就下降a.Increases; decreasesb.Increases; increasesc.Decreases; decreasesd.