Exchange Rates and the Balance of Payments

1#

Define the term overvalued c :8hvrpkey2q( urrency.

A. A currency whose value increases when quantity demanded exceeds its quantity supplied in the foreign exchange market.

B. A currency whose value decreases when the quantity supplied exceeds the quantity demanded in the foreign exchange market.

C. A currency where the exchange rate exceeds the exchange rate that would exist in a floating exchange rate system.

D. A currency where the exchange rate is set below the exchange rate that would exist in a floating exchange rate system.

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2#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Year	Official Exchange Rate (peso per euro)
2020	56.19
2023	60.22

A Filipino firm pays its German-based consultant 200 000 euros every year. Using the information in the table above, what is the increase in the cost of the payment between 2020 and 2023?

A. 12 044 000 pesos

B. 806 000 pesos

C. 214 344 euros

D. 11 238 000 pesos

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3#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

A country with a persistent current account surplusttrf:bd2 0a-c;r9ge 04kczjh will have the following consequences ex 0h0a2rd f :c9zke gbj;ctr4t-cept

A. Depreciation of currency

B. Low domestic investment

C. Low domestic consumption

D. Reduced export competitiveness

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4#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

What will be the impact of a current account dfp1yjkn68 z v ixo7g8g(qk(-deficit on the country’s currency under -68xop 1k (g7 kdnqvf g(iy8zja floating exchange rate system?

A. It will depreciate

B. It will appreciate

C. It will not change

D. Indeterminate

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5#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

	US$ (millions)
Imports of services	500
Exports of goods	450
Net capital transfers	45
Imports of goods	120

Calculate the balance on the current account from the table above.

A. − 170 million

B. 115 million

C. 375 million

D. − 125 million

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6#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Depreciation of currency will help improve the balance of trade (BOT -zbjp(vpfwv6 je 9,b2) if:

	Price elasticity of demand (exports)	Price elasticity of demand (imports)
A.	0.6	0.3
B.	0.5	0.6
C.	0.3	0.7
D.	0.5	0.5

A. B. C. D.

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7#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following statements is not consistent wit,tnka, hyvy88h the likely effect of an increase ak,8 8 ,vnyythin interest rates in Malaysia?

A. Malaysian firms reduce their investment demand.

B. Malaysian households reduce their consumption demand.

C. British investors increase their investments in Malaysia.

D. The supply of foreign exchange decreases in the foreign exchange market in Malaysia.

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8#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which one of the following is not included in the curren mvu+ppf:l97o-w4 6bw d e/ifzt account of the balance of :z/ubd7i lfmv6 ow pwep 4-9+fpayments (BOP)?

A. Export of machinery

B. Spending by tourists

C. Dividends received from foreign stocks

D. Foreign direct investment

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9#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following is an expendituz-7q( qywo5 vyq j; g.f1vff,ire-switching policy to correct a persistent current account defic-qfov1v . iz q;qj7ff(,w5yygit?

I. Imposition of tariffs
II. Revaluation of currency
III. Increasing interest rates
IV. Granting subsidies to export-oriented industries

A. I only

B. I and II only

C. I and IV only

D. III only

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10#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Assume a country has a ty.zgtclm m7 .z i+s. w10kja*k (4bdqorade deficit and the sum of the price elasticities of demandd+4syziwa b7jk ct.g*1.ol (0zqk .mm for exports and imports is less than 1. What will be the impact of currency depreciation on the country's trade balance?

A. The trade balance will remain unchanged

B. The trade balance will improve

C. The trade balance will further deteriorate

D. The trade balance will first improve and then deteriorate

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11#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Select which of the following wo(hym(ykv/ iogc b(*-fuld not be consistent with a trade deficit:

A. Net demand for foreign currency that drives the domestic currency to depreciate in the foreign exchange market.

B. Net demand for foreign currencies will cause foreign currencies to appreciate in the foreign exchange market.

C. Quantity demanded of foreign currency is greater than the quantity supplied of foreign currency.

D. Net supply of domestic currency that causes the domestic currency to appreciate in the foreign exchange market.

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12#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following represents an invisibl. cy7be*t u(r kiilv.*e export in the balance of payments (BOP) of the *iylru. cbkv7i t *(.eUS?

A. Purchase of a British firm by an American firm

B. US firms sending aid to Africa

C. A Korean tourist buying meals in a restaurant in New York

D. Americans receiving dividends on shares of Japanese stock

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13#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Select from the table below the appropriate transmission mechanism of a contract2rx 0,b:d tt7bcl)le3l/li iyionary mone0l x :c3l 2ltiiebldytr /,)b7tary policy which involves raising interest rates to achieve an external balance.

	Aggregate Demand	Real GDP	Net Exports
A.	Decreases	Decreases	Increase
B.	Increases	Increases	Decrease
C.	Decreases	Decreases	Decrease
D.	Increases	Increases	Increase

A. B. C. D.

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14#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Year	Philippine Peso per Euro
2020	56.19
2023	60.22

Using the information from the table above, how may the change in the exchange rate between 2020 and 2023 affect the inflation rate in the Philippines from the choices below.

I. Increased net exports will increase aggregate demand, causing demand-pull inflation.
II. Higher costs of imported intermediate goods, machinery, and equipment will cause short-run aggregate supply to decrease, leading to cost-push inflation.
III. Aggregate demand will fall, leading to deflation.
IV. Aggregate supply will increase, leading to deflation.

A. I and II only

B. II and III only

C. III and IV only

D. IV only

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15#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Given the diagram above, suppose the equilibrium exchange rate for the Canadian dollar (CAD) is at $e_1$. If the Canadian government wishes to fix the exchange rate at $e_2$, it can employ all of the following policies except:

A. increasing domestic interest rates

B. decreasing the purchases of foreign reserves by the nation's central bank

C. increasing the sale of domestic currency in the foreign exchange market by the nation's central bank

D. increasing the sale of foreign reserves by the nation's central bank

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16#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Devaluation would most likely aid in achie r 98 z9gg/f( q/za1oij1tvg uv7*rimoving which of the following policy objectives?9 oif1 g zmuti*grva/vgz 87q /r(j19o

A. Reducing inflation

B. Reducing inequality

C. Increasing employment

D. Increasing net imports

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17#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following iupv-pmf6l )jtpch :bo +2j9pc4 kb4l: s the most likely response for a country with a fixed exchange rate experiencing apj lljt 42f+4kpph-ocbp uv:6m :)b9c sharp fall in net exports?

A. Higher interest rates

B. Higher growth

C. Higher inflation

D. Higher money supply

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18#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

A country has a fixed exchange rate with the UK pound where one unit of i37x+ (3u 8b ;jktms5hc(w.bqhcjiq ilts currency is worth £0.80bj m5iu3b tj7+3xq. (;c lqkhswi(c8h
£0.80. Which of the combinations of actions by the central bank would be taken if that value changed to £1?

	Own currency	UK pounds
A	Buy	Buy
B	Buy	Sell
C	Sell	Sell
D	Sell	Buy

A. B. C. D.

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19#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following would cause the shifts from point $x$to point $z$in the above diagram depicting supply and demand for US$on the foreign exchange market?

A. An increase in remittances leaving the US and a rise in inward foreign direct investment.

B. Quantitative easing

C. A consistently low inflation rate

D. A rise in interest rates

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20#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following is not sd7 )unkhz79j 3yy-vea reason to adopt a floating exchange rate?

A. The central bank has a low amount of foreign reserves

B. The central bank wants full freedom in setting interest rates

C. The government wants to ensure growth of the export sector

D. The government wants correct an external imbalance

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21#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following policies is consistentepqts*up u/+0frjj:vr 0eq *5 with its objective?

	Policy	Objective
A.	Devaluation	Reducing inflation
B.	Revaluation	Reducing unemployment
C.	Devaluation	Reduce a current account surplus
D.	Revaluation	Improve living standards

A. B. C. D.

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