5学原理》(宏观)第五版测试题库 (31).doc
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Chapter31/Open-EconomyMacroeconomics:
BasicConceptsv2127
Chapter31
Open-EconomyMacroeconomics:
BasicConcepts
TRUE/FALSE
1. Acountrywithnegativenetexportshasatradesurplus.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netexports
MSC:
Definitional
2. Ifacountry’simportsexceeditsexportsithasatradesurplus.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Tradebalance
MSC:
Definitional
3. Ifacountrysellsmoregoodsandservicesabroadthanitpurchasesabroad,ithaspositivenetexportsandatradesurplus.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netexports
MSC:
Definitional
4. MoviesareamajorexportoftheU.S.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
U.S.tradestatistics
MSC:
Definitional
5. PerhapsthemostdramaticchangeintheU.S.economyoverthepastfourdecadeshasbeentheincreasingrelativeimportanceofinternationaltradeandfinance.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
U.S.trade
MSC:
Definitional
6. ReducedbarrierstotradehelpexplainanincreaseinU.S.exportsandimportsrelativetoGDPsince1950.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
U.S.trade
MSC:
Definitional
7. U.S.exportsmakeuplessthan20percentofGDP.
ANS:
T DIF:
2 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
U.S.trade
MSC:
Definitional
8. Netcapitaloutflowisthepurchaseofdomesticassetsbyforeignresidentsminusthepurchaseofforeignassetsbydomesticresidents.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netcapitaloutflow
MSC:
Definitional
9. Whennetcapitaloutflowisnegative,itmeansthatonnetthevalueofdomesticassetspurchasedbyforeignersexceedsthevalueofforeignassetspurchasedbydomesticresidents.
ANS:
T DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netcapitaloutflow
MSC:
Definitional
10. Arationalinvestorwillalwayspurchasethebondthatpaysthehighestrealinterestrate.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Foreignportfolioinvestment
MSC:
Applicative
11. WhenacompanyfromGermanybuildsanautomobilefactoryintheUnitedStates,theGermanfirmhasengagedinforeigndirectinvestment.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Foreigndirectinvestment
MSC:
Definitional
12. BothforeigndirectinvestmentandforeignportfolioinvestmentbyU.S.residentsincreaseU.S.netcapitaloutflow.
ANS:
T DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netcapitaloutflow,Foreigndirectinvestment,Foreignportfolioinvestment
MSC:
Definitional
13. Byitself,thepurchaseofaU.S.bondbyaforeignresidentdecreasesU.S.netcapitaloutflowandincreasesforeigncapitaloutflow.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netcapitaloutflow
MSC:
Definitional
14. Foraneconomyasawhole,netexportsmustequalminusonetimesnetcapitaloutflow.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netcapitaloutflow|Netexports MSC:
Definitional
15. Ifacountry’snetexportsfall,thenitsnetcapitaloutflowrises.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netcapitaloutflow|Netexports MSC:
Definitional
16. IfaU.S.firmbuysChinesetoysusingpreviouslyobtainedChinesecurrency,thenbothU.S.netexportsandU.S.netcapitaloutflowdecrease.
ANS:
T DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netcapitaloutflow|Netexports MSC:
Applicative
17. Ifanationissellingmoregoodsandservicestoforeignersthanitisbuyingfromthem,thenonnetitmustbesellingassetsabroad.
ANS:
F DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netexports,Netcapitaloutflow MSC:
Interpretative
18. Ifanationissellingmoregoodsandservicestoforeignersthanitisbuyingfromthem,thenonnetitmustbebuyingassetsabroad.
ANS:
T DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netexports,Netcapitaloutflow MSC:
Interpretative
19. Ineveryeconomy,nationalsavingequalsdomesticinvestmentplusnetcapitaloutflow.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Netcapitaloutflow|Netexports
20. WhenU.S.nationalsavingrises,domesticinvestmentalsonecessarilyrises.
ANS:
F DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Nationalaccounts
MSC:
Definitional
21. Anationwithatradesurpluswillnecessarilyhavedomesticinvestmentthatisgreaterthandomesticsaving.
ANS:
F DIF:
2 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Netexports,Saving
MSC:
Analytical
22. ThelargetradedeficitsintheUnitedStatesinthe1990swereprimarilyassociatedwithariseindomesticinvestmentratherthanariseinthebudgetdeficit.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
U.S.trade
MSC:
Definitional
23. Inanopeneconomy,nationalsavingscanbelessthaninvestment.
ANS:
T DIF:
1 REF:
31-1
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Nationalaccounts
MSC:
Definitional
24. Iftheexchangerateis10pesosperU.S.dollar,itisalso1/10U.S.dollarsperpeso.
ANS:
T DIF:
1 REF:
31-2
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Nominalexchangerate
MSC:
Analytical
25. Iftheexchangerateis125yenperdollar,thenahotelroominTokyothatcosts25,000yencosts$200.
ANS:
T DIF:
1 REF:
31-2
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Nominalexchangerate
MSC:
Analytical
26. Otherthingsthesame,anincreaseinthenominalexchangerateraisestherealexchangerate.
ANS:
T DIF:
2 REF:
31-2
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Realexchangerate
MSC:
Applicative
27. IftherealexchangerateoftheU.S.dollarfalls,U.S.netexportswillfall.
ANS:
F DIF:
1 REF:
31-2
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Appreciation
MSC:
Applicative
28. Thetheoryofpurchasing-powerparitystatesthataunitofacountry’scurrencyshouldbeabletobuythesamequantityofgoodsinforeigncountriesasitdoesdomestically.
ANS:
T DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Definitional
29. Purchasing-powerparitysaysthatthenominalexchangeratemustequaltherealexchangerate.
ANS:
F DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Definitional
30. JasonplanstobuyshrimpinFloridaandselltheminAmes,Iowawherethepriceishigher.Jasonplanstoengageinarbitrage.
ANS:
T DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Arbitrage
MSC:
Definitional
31. Manyeconomistsbelievethatthetheoryofpurchasing-powerparitydescribestheforcesthatdetermineexchangeratesinthelongrun.
ANS:
T DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Definitional
32. Accordingtopurchasing-powerparitytheory,thenominalexchangeratebetweentheU.S.andanothercountryshouldequalthepricelevelforthatcountrydividedbythepricelevelfortheU.S..
ANS:
T DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Definitional
33. Ifthepurchasingpowerofthedollarisalwaysthesameathomeandabroad,thenthenominalexchangeratedefinedasunitsofforeigncurrencyperdollardecreasesiftheU.S.pricelevelrisesmorethanthepricelevelinforeigncountries.
ANS:
T DIF:
2 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Purchasing-powerparity|Realexchangerate MSC:
Analytical
34. Otherthingsthesame,anincreaseintheforeignpricelevelleadstoanincreaseintherealexchangerate.
ANS:
F DIF:
2 REF:
31-2
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Realexchangerate
MSC:
Analytic
35. IfpricesintheU.S.risefasterthanpricesintheUnitedKingdom,thenaccordingtothedoctrineofpurchasing-powerparitytheU.S.nominalexchangerateshouldfall.
ANS:
T DIF:
2 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Interpretative
36. Accordingtothetheoryofpurchasing-powerparity,therealexchangeratedefinedasforeigngoodsperunitofU.S.goodswillequaltheexchangeratedefinedasunitsofforeigncurrencyperdollartimesthedomesticpriceleveldividedbytheforeignpricelevel.
ANS:
T DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Definitional
37. Inthe1970sand1980stheU.S.dollardepreciatedagainsttheGermanmarkandappreciatedagainsttheItalianlirabecauseU.S.inflationwaslowerthaninGermanybuthigherthaninItaly.
ANS:
F DIF:
1 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance
TOP:
Purchasing-powerparity|U.S.exchangerates MSC:
Definitional
38. Whenthecentralbankofsomecountryprintslargequantitiesofmoney,thatcounty’scurrencylosesvaluebothintermsofthegoodsandservicesitbuysandintermsoftheamountofforeigncurrenciesitcanbuy.
ANS:
T DIF:
2 REF:
31-3
NAT:
Analytic LOC:
Internationaltradeandfinance TOP:
Purchasing-powerparity
MSC:
Analytical
SHORTANSWER
1. Listthefactorsthatmightinfluenceacountry'sexports,imports,andtradebalance.
ANS:
a.
thetastesofconsumersfordomesticandforeigngood
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