普格尔《国际贸易（第17版）》 英文题库Pugel17e_Chapter19_TB.docxVIP

PAGE 1 Copyright 2020 ? McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. International Economics, 17e (Pugel) Chapter 19 What Determines Exchange Rates? 1) The ________ approach to exchange rates emphasizes the role of portfolio repositioning by international financial investors. A) elasticity B) asset market C) monetary D) balance-of-payments 2) The asset market approach to exchange rate determination seeks to predict A) the forward exchange rate premiums. B) the long-run trends in exchange rates. C) the possibility of retaining a pegged exchange rate by the government. D) the short-term pressures on exchange rates. 3) The exchange rate value of a foreign currency is ________ in the short run by a rise in its expected future spot exchange rate value. A) raised B) lowered C) made volatile D) not affected 4) A decrease in the foreign interest rate relative to the domestic interest rate ________ the exchange rate value of a foreign currency in the short run. A) raises B) lowers C) does not affect D) causes fluctuations in 5) Other things equal, a broad shift to expecting depreciation of the euro will lead to A) an inflow of capital to Europe. B) an increase in official exchange market intervention by the euro area monetary authorities. C) a lowering of exports of European goods and services. D) a decrease in the demand for euro-denominated financial assets. 6) If the domestic interest rate decreases, with the foreign interest rate and the expected future spot rate remaining unchanged, the value of the domestic currency vis-à-vis the foreign currency is expected to A) increase. B) decrease. C) remain unchanged. D) converge to its purchasing power parity (PPP) value. 7) If the expected future spot exchange rate value of the foreign currency decreases, with the interest rate differential unchanged, the current spot exchange-rate value of the domestic currency A) increases. B)