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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 c. Common currency d. Primary currency

10. 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 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 pound b. 2 francs per pound c. 3 francs per pound d. 4 francs per pound

11. Which of the following is NOT a function of the interbank

operations of the foreign exchange market? D下列哪一个不是外汇交易市场中银行间操作方式的一种？

a. Provides a bank with a continuous stream of information on conditions in the foreign exchange market.

b. Provides a bank the means to readjust its own position quickly and at low cost.

c. Permits a bank to take on a position in a foreign currency quickly.

d. Provides a bank with technological resources for use in foreign exchange trading.提供技术资源给一间银行,用来 进行外汇交易

12. Under the managed float system of exchange rates, a fall in the market price of 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_______ or through the use of __________ that provide anonymity until the trade is complete and reduce 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; brokers b. Brokers; traders

c. Individual consumers; the government d. Individual consumers; brokers

14. A country’s demand for foreign currency is derived from: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. International transactions entering the surplus column of its balance of payments accounts.

c. The country’s demand for currency to finance exports and capital inflows.

d. The country’s demand for currency to finance its government’s compensating transactions.

15. U.S. exports of goods and services will create a ___B_______ foreign currency and 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 of b. Supply of; demand for c. Shortage of; demand for d. Supply of; shortage of

16. U.S. imports of goods and services will create a ___A_______ foreign currency and 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 of b. Supply of; demand for c. Shortage of; demand for d. Supply of; shortage of

17. 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元的需求 a. Demand for; supply of b. Supply of; demand for c. Shortage of; demand for d. Supply of; shortage of

18. In a ____C______ exchange rate system there is no intervention by the government or central bankers. 浮动汇率制度里, 政府与中央银行不得进行干涉 a. Fixed b. Pegged c. Floating

d. Managed float

19. As the value of the yen falls 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 demand curve for foreign currency slopes downward because as the exchange rate ___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; decreases b. Increases; increases c. Decreases; decreases d. Decreases; stays fixed

21. Shifts in demand away from French products and toward U.S. products (caused by forces other than changes in the exchange rate) would result in extra attempts to ___C_______ euros and

__________ dollars. 如果法国商品的需求下降并转稳到美国商品身上（由外力而是汇率引起），会引起欧元的额外卖与美元的购入

a. Buy; buy b. Sell; sell c. Sell; buy d. Buy; sell

22. Other things equal, if American exports to Japan increase and American imports from Japan decrease, then under a floating exchange rate system, we would expect the dollar to:D 其它条件一样的情况下，美国出口到日本的商品上升而美国进口日本的商品下降，在浮动汇率制度下，美元将对日元走强。 a. Weaken against the Japanese yen. b. Depreciate against the Japanese yen. c. Devalue against the Japanese yen. d. Strengthen against the Japanese yen.

23. A decrease in German residents' willingness to invest in

dollar-denominated assets will shift the demand curve for: D 德国居民投资于美元计价资产的意欲下降的话，美元的需求将会下降。

a. Euros to the right. b. Euros to the left. c. Dollars to the right. d. Dollars to the left.

24. In a _____A_____ exchange rate system the government or

central bankers intervene to keep the exchange rate virtually steady. 在固定汇率制度下，政府或中央银行会尽力保持汇率的稳定。 a. Fixed

b. Market driven c. Floating d. Forward

Exchange Rate $/￡ 美元与英磅的汇率

Figure 17.1: The Market for British Pounds英磅市场