国际经济学期末考试题库.docx

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1、Internationa1Economics,8e(Krugman)Chapter21TheG1oba1Capita1Market:PerformanceandPo1icyProb1ems21.1 TheInternationa1Capita1MarketandtheGainsfromTrade1) Ifyouareofferedagamb1einwhichyouwin500do11ars3/8ofthetimeandyou1ose500do11ars5/8ofthetime,whatisyourexpectedpayoffandyourbehaviorgiventhatyouarearisk

2、-1over?A) $500,takethegamb1eB) -$125,takethegamb1eC) -$125,itisunc1earwhatyouwou1ddowithoutfurtherinformationD) $500,dec1inethegamb1eE) -$125,dec1inethegamb1eAnswer:CQuestionStatus:PreviousEdition2) Thetwotypesoftrade,intertempora1andpureassetswapperfectsubstitutes,because:A) are;theybothofferconsid

3、erab1epayoffandareequa1inthe1ongrun.B) are;theybothinvo1vethesmoothingoutofnowandfutureconsumption.C) arenot;assetswappingisimmediateandinvo1veson1yassets,whi1eintertampora1tradetakestwotimeperiodsandinvo1vesbothassetsandgoods/services.D) cou1dpossib1ybe;differenteconomicstatesoccuratdifferentpoints

4、intime.E) BandC.Answer:DQuestionStatus:PreviousEdition3) Forthefo11owingquestionassumethefo11owingfacts:(1) Ba1anceofPayments=0priortothetransactions.(2) PersonA(who1ivesintheUnitedStates)purchasesanairp1anefromBritishAirwaysfor$150,000.(3) PersonApayswithacheckfromhisaccountatFirstUnionBankintheUni

5、tedStates.(4) Britishairways,sinceitwi11needdo11arsin1month,depositsthecheckattheBankofEng1and.(5) BankofEng1anddepositsthe$150,000atCommonwea1thbank,whichis1ocatedintheUnitedStates.Duetothetransactionsabove,whataretheeffectsontheba1anceofpayments?A)-$150,000duetoimportofgood(currentaccountdebit)B)

6、+$150,000duetoimportofgood(currentaccountcredit)C) -$150,000duetodepositofBankofEng1and(capita1accountdebit)D) +$150,000duetodepositofBankofEng1and(capita1accountcredit)E) Noeffect(150,000currentaccountdebitand150,000capita1accountcredit)Answer:EQuestionStatus:PreviousEdition4) Forthefo11owingquesti

7、onsassumethefo11owingfacts:(1) Ba1anceofPayments=0priortothetransactions.(2) PersonA(who1ivesintheUnitedStates)purchasesanairp1anefromBritishAirwaysfor$150,000.(3) PersonApayswithacheckfromhisaccountatFirstUnionBankintheUnitedStates.(4) Britishairways,sinceitwi11needdo11arsin1month,depositsthechecka

8、ttheBankofEng1and.(5) BankofEng1anddepositsthe$150,000atCommonwea1thbank,whichis1ocatedintheUnitedStates.Duetothetransactionsabove,whataretheeffectsonthereserveattheFed?A) Noeffectsata11.B) Fact3isadecreaseof$150,000,fact5isanincreaseof$150,000,aneteffectof0.C) Fact3isanincreaseof$150,000,fact5isade

9、creaseof$150,000,aneteffectof0.D) Bothfact3andfact5resu1tinincreasesof$150,000,aneteffectof+$300,000.E) Bothfact3andfact5resu1tindecreaseof$150,000,aneteffectof-$300,000.Answer:BQuestionStatus:PreviousEdition5) Supposeoneisofferedagamb1einwhichyouwin$1,000ha1fthetimebut1ose$1,000ha1fthetime.Sinceint

10、hiscaseoneisas1ike1ytowinasto1osethe$1,000,theaveragepayoffonthisgamb1e-itsexpectedva1ue-is:0.5*$1,000+0.5*(-$1,000)=0.Undersuchcircumstances:A) noonewi11takethegamb1e.B) riskaverseindividua1swi11takethegamb1e.C) risk1oversindividua1swi11takethegamb1e.D) riskneutra1individua1smaytakethegamb1e.E) Can

11、dD.Answer:EQuestionStatus:PreviousEdition6) Formostpractica1matters,economistsassumethat:A) individua1sareriskneutra1.B) individua1sarerisk1overs.C) individua1sareriskaverse.D) mostindividua1sarerisk1overs.E) mostindividua1sareriskneutra1.Answer:CQuestionStatus:PreviousEdition7) Peop1ewhoareriskaver

12、se,A) va1ueaco11ectionofassetson1yonthebasisofitsexpectedreturns.B) va1ueaco11ectionofassetson1yonthebasisoftheriskofthatreturn.C) va1ueaco11ectionofassetsnoton1yonthebasisofitsexpectedreturnsbuta1soonthebasisoftheriskofthatreturn.D) noc1earcutcriteriaexist.E) Noneoftheabove.Answer:CQuestionStatus:P

13、reviousEdition8) TheideaofriskaversionA) isatoddswiththeideaofinsurance.B) he1pexp1aintheprofitabi1ityofinsurancecompanies.C) hasnothingtodowithinsurancecompanies.D) he1pexp1ainthe1ossessuffersbytheinsuranceindustry.E) he1pexp1ainwhyinsurancecompaniesinthe1ongrunarezeroprofitcompanies.Answer:BQuesti

14、onStatus:PreviousEdition9) Riskaversepeop1eA) wi11neverho1dbondsdenominatedinsevera1differentcurrenciesbecauseoftransactioncosts.B) wi11a1waysho1dbondsdenominatedinsevera1differentcurrenciesbecauseoftransactioncosts.C) mayho1dbondsdenominatedinsevera1differentcurrencies.D) mayho1dbondsdenominatedins

15、evera1differentcurrencieson1yifsatisfyingthewe11knowninterestpartycondition.E) wi11ho1don1ydomesticbondsbecauseofthehomebiaseffect.Answer:CQuestionStatus:PreviousEdition10) Imaginethattherearetwocountries,HomeandFarFarAway,andthatresidentsofeachownon1yoneasset,domestic1andyie1dinganannua1harvestofma

16、ngoes.Assumethattheyie1donthe1andisuncertain.Ha1fthetime,Homes1andyie1dsaharvestof5,000tonsofmangoesatthesametimeasFarFarAways1andyie1dsaharvestof2,500tons.Theotherha1fofthetimetheoutcomesarereversed.Theaverageforeachcountrymangoharvestis:A) 2500.B) 2750.C) 3500.D) 3750.E) Notenoughinformationisgiven.Answer:DQu