This document contains a quiz for an economics course on international finance. It includes 63 multiple choice and true/false questions testing concepts related to open economy macroeconomics, international trade, exchange rates, and current accounts. The questions cover topics such as real GNP, the trade balance, net foreign investment, the current account balance, and the effects of tariffs and technology changes on macroeconomic variables.
The document provides information about a quiz for ACC 557 Week 10 that includes true-false statements and multiple choice questions related to the statement of cash flows. Specifically, it tests knowledge of the purpose of the statement of cash flows, how it differs from other financial statements, how to classify cash flows as operating, investing or financing activities, and how to prepare the statement of cash flows using both the direct and indirect methods.
This document contains a quiz for FIN 350 on finance company operations and mutual fund operations. It includes 38 multiple choice questions covering topics like the different types of finance companies (consumer, sales, commercial), sources of finance company funds, how finance companies differ from other financial institutions, and mutual fund structures (open-end, closed-end, ETFs). It also tests understanding of finance company risks, regulations, and competition as well as mutual fund fees, share repurchases, and required disclosures.
The document outlines an assignment for an ACC 557 course where students take on the role of an investment analyst. They must analyze the financial statements of two competing companies from a list provided, including their history, products/services, customers, suppliers, and leadership. Students must calculate and analyze three profitability ratios for each company, summarize two news events impacting each company from 2012-present, analyze income statements and balance sheets from the past two years to determine which company outperformed and how the other can improve, and write a six to eight page paper presenting their analysis and recommendations.
This document provides a quiz covering chapters 15 and 16 on taxation of corporate income and taxes on consumption and sales. It includes 20 true/false questions and 20 multiple choice questions testing understanding of key concepts such as the corporate tax base, effects of the corporate income tax, and differences between consumption, income, sales, and value-added taxes.
This document contains a quiz on unemployment and inflation concepts from an economics course. The quiz has 42 multiple choice questions covering topics like types of unemployment (structural, cyclical, frictional, seasonal), definitions of unemployment and the labor force, causes of unemployment and inflation, effects of inflation, and the circular flow model. It provides the questions, but no answers. The document aims to test the reader's understanding of key unemployment and inflation concepts.
The document discusses two discussion questions for Week 11 of a CIS 505 course. The first question asks students to predict which communication technology discussed in the course will be phased out first due to limitations and obsolescence, and to speculate what newer technology will replace it with improved features. The second question asks students to discuss how at least four weekly course learning outcomes can be applied professionally or personally, and to imagine the issues and impact of living without their favorite technology from the course.
This document provides instructions for Assignment 5, which requires creating a 20 slide PowerPoint presentation with speaker notes. The presentation must include: an executive summary supporting the firm's proposal; discussion of agency support for entering the contract; a reliability plan for the firm's capabilities; a conclusion on the firm's projected performance; and an action plan using the cost estimate and contract type. At least 5 quality resources must be used. The presentation must follow APA formatting guidelines and cover learning outcomes for communicating proposals, researching business strategies using technology, and writing clearly about proposals.
This document outlines the requirements for a 15-18 page term paper on crowdsourcing in interface design. Students must: 1) Examine the growth of crowdsourcing in interface design; 2) Describe its impact; 3) Analyze benefits and challenges; 4) Propose a solution to generate interest from online communities; 5) Suggest a solution to evaluate skills of unknown users; 6) Describe effects on budget and timeline; 7) Assess legal, societal and ethical issues and methods to address concerns; and 8) Cite at least 5 quality resources. The paper must follow APA formatting and cover page standards.
The document provides information about a quiz for ACC 557 Week 10 that includes true-false statements and multiple choice questions related to the statement of cash flows. Specifically, it tests knowledge of the purpose of the statement of cash flows, how it differs from other financial statements, how to classify cash flows as operating, investing or financing activities, and how to prepare the statement of cash flows using both the direct and indirect methods.
This document contains a quiz for FIN 350 on finance company operations and mutual fund operations. It includes 38 multiple choice questions covering topics like the different types of finance companies (consumer, sales, commercial), sources of finance company funds, how finance companies differ from other financial institutions, and mutual fund structures (open-end, closed-end, ETFs). It also tests understanding of finance company risks, regulations, and competition as well as mutual fund fees, share repurchases, and required disclosures.
The document outlines an assignment for an ACC 557 course where students take on the role of an investment analyst. They must analyze the financial statements of two competing companies from a list provided, including their history, products/services, customers, suppliers, and leadership. Students must calculate and analyze three profitability ratios for each company, summarize two news events impacting each company from 2012-present, analyze income statements and balance sheets from the past two years to determine which company outperformed and how the other can improve, and write a six to eight page paper presenting their analysis and recommendations.
This document provides a quiz covering chapters 15 and 16 on taxation of corporate income and taxes on consumption and sales. It includes 20 true/false questions and 20 multiple choice questions testing understanding of key concepts such as the corporate tax base, effects of the corporate income tax, and differences between consumption, income, sales, and value-added taxes.
This document contains a quiz on unemployment and inflation concepts from an economics course. The quiz has 42 multiple choice questions covering topics like types of unemployment (structural, cyclical, frictional, seasonal), definitions of unemployment and the labor force, causes of unemployment and inflation, effects of inflation, and the circular flow model. It provides the questions, but no answers. The document aims to test the reader's understanding of key unemployment and inflation concepts.
The document discusses two discussion questions for Week 11 of a CIS 505 course. The first question asks students to predict which communication technology discussed in the course will be phased out first due to limitations and obsolescence, and to speculate what newer technology will replace it with improved features. The second question asks students to discuss how at least four weekly course learning outcomes can be applied professionally or personally, and to imagine the issues and impact of living without their favorite technology from the course.
This document provides instructions for Assignment 5, which requires creating a 20 slide PowerPoint presentation with speaker notes. The presentation must include: an executive summary supporting the firm's proposal; discussion of agency support for entering the contract; a reliability plan for the firm's capabilities; a conclusion on the firm's projected performance; and an action plan using the cost estimate and contract type. At least 5 quality resources must be used. The presentation must follow APA formatting guidelines and cover learning outcomes for communicating proposals, researching business strategies using technology, and writing clearly about proposals.
This document outlines the requirements for a 15-18 page term paper on crowdsourcing in interface design. Students must: 1) Examine the growth of crowdsourcing in interface design; 2) Describe its impact; 3) Analyze benefits and challenges; 4) Propose a solution to generate interest from online communities; 5) Suggest a solution to evaluate skills of unknown users; 6) Describe effects on budget and timeline; 7) Assess legal, societal and ethical issues and methods to address concerns; and 8) Cite at least 5 quality resources. The paper must follow APA formatting and cover page standards.
1. The document is a quiz for an accounting course covering topics related to stockholders' equity. It includes 42 multiple choice and true/false questions about concepts such as common stock, preferred stock, treasury stock, retained earnings, dividends, and accounting for stock transactions.
2. The questions cover how these various components of stockholders' equity are defined, classified, and accounted for on the financial statements. For example, it asks about how treasury stock purchases and sales are recorded and how this affects retained earnings and paid-in capital.
3. The quiz aims to test students' understanding of the key terminology and accounting treatments related to presenting a corporation's stockholders' equity section of the balance sheet
This document contains a chapter from an economics textbook on social security and healthcare. It includes 20 true/false questions and 20 multiple choice questions testing knowledge of key concepts related to social security, Medicare, Medicaid, national healthcare systems, and drivers of rising healthcare costs in the US. Some of the questions covered topics like how social security is financed, replacement rates, retirement ages, and effects on savings. Other questions focused on who pays for healthcare in the US, moral hazard from third-party payers, and issues like asymmetric information in healthcare markets.
1. The document discusses a 10-12 page assignment analyzing an accounting information system failure. Students are asked to identify factors that contributed to the failure, assess management responsibility, evaluate where the most significant failure occurred, propose best practices, and outline principles that should not be followed based on research.
2. Students must use at least 3 quality resources and follow APA formatting guidelines. The assignment addresses learning outcomes related to analyzing accounting information systems and the systems development life cycle.
This document provides a quiz on strategic marketing implementation and control from MKT 475 Week 11. It contains 35 multiple choice and true/false questions testing concepts like the balanced scorecard method, internal marketing, marketing metrics, control charts, and the core tasks of a CMO. It also includes 5 essay questions asking to explain dimensions of the marketing planning process, factors influencing strategy implementation, how organizational design helps implement plans, and points to consider when selecting marketing metrics.
Bus 335 staffing organizations week 11 quizEmmaJack2018
This document contains a quiz for BUS 335 Week 11 that covers various topics related to employee turnover. There are 85 multiple choice questions testing understanding of concepts like the types of employee turnover (voluntary, involuntary, downsizing), predictors of turnover intentions, costs of turnover, performance management, and legal considerations around termination. The quiz covers the full chapter on managing human capital losses from employee turnover.
The document provides instructions for a term paper assignment on web application security challenges for a Chief Security Officer of an e-commerce company. It consists of two sections: a written paper and PowerPoint presentation. For the paper, the CSO must summarize current web security states, techniques to mitigate challenges, resources to monitor threats, and validate security procedures. It must be 8-10 pages and cite at least 4 quality resources. For the presentation, the CSO must detail board recommendations over 8-10 slides with speaking notes to communicate information to the executive board.
The document discusses financial statement analysis techniques including horizontal analysis, vertical analysis, and ratio analysis. It provides examples of true-false and multiple choice questions related to analyzing liquidity, profitability, and other financial metrics. The questions cover topics such as the calculation of percentage changes, interpreting current ratios, and identifying interested parties in a company's liquidity.
Leg 500 week 11 final exam – strayer newEmmaJack2018
This document contains a LEG 500 final exam from Strayer University covering chapters 1 through 9 of the textbook. It includes 20 multiple choice questions and 20 essay questions testing knowledge of business law, ethics, and privacy issues. Key topics covered include duty to rescue laws, whistleblowing, corporate social responsibility, benefit corporations, privacy in the digital workplace, and protecting genetic information. The exam provides a comprehensive review of legal and ethical issues faced by businesses.
1. If the British pound depreciates against the U.S. dollar, a U.S.-based MNC firm may be able to charge more in dollar terms for goods sold in the U.K. market while keeping pound prices stable, or the firm may have to cut dollar prices or risk being priced out of the U.K. market if costs stay constant in dollars.
2. Governments try to control borders to limit illegal immigration, which is an example of a market imperfection.
3. A multinational firm is one incorporated in one country that has production and sales operations in several other countries.
National Income Accounting - Book VersionMark Anthony
This document discusses measuring GDP using the expenditure and income approaches. It defines GDP as the total market value of final goods and services produced within a country in a given period. The four main categories of expenditure are personal consumption, gross private investment, government spending, and net exports. Using the income approach, GDP is measured as the sum of compensation of employees, business profits, interest, and other income. The document also discusses real GDP, inflation, and limitations of GDP as a welfare measure.
test bank International Trade, 5e Robert Feenstra, Alan Taylor test bank.pdfNailBasko
This document contains a chapter from an economics textbook on international trade. It includes 47 multiple choice questions covering topics like impacts of the coronavirus pandemic on medical trade, definitions of imports, exports, trade balances, and how international trade statistics are calculated. It also contains information about major trading partners and regions like the European Union.
Sample Macro QuestionsMultiple Choice (Select the best option av.docxanhlodge
Sample Macro Questions
Multiple Choice (Select the best option available.)
1..
In the factor market, households
(a)
sell resources.
(b)
buy resources.
(c)
are neither buyers nor sellers of resources.
(d)
are both buyers and sellers of resources.
2.
GDP does not include
(a)
business investment.
(b)
overseas production of U.S. subsidiaries.
(c)
net exports.
(d)
consumption expenditures.
3.
Official unemployment rates may underestimate the true rate of unemployment because the
official rate
(a)
includes those workers who only work part time.
(b)
may include some individuals who are not actually in the labor force.
(c)
does not include individuals receiving any type of unemployment compensation.
(d)
fails to include discouraged workers.
4.
If the U.S. economy enters a recessionary phase, the
(a)
economy experiences full employment.
(b)
unemployment rate will increase.
(c)
entire population will be unemployed.
(d)
entire population will be partially unemployed.
5.
The circular flow diagram shows
(a)
goods, services, and money payments flowing in the same direction.
(b)
goods and money payments flowing in one direction and services flowing in the opposite direction.
(c)
goods and services flowing in one direction and money payments in the other direction.
(d)
goods flowing in one direction and services and money payments flowing in the other direction.
6.
GDP measures
(a)
the total value of labor used in the economy.
(b)
the total market value of final goods and services produced within a nation’s borders.
(c)
the total income received by residents of a nation.
(d)
the total worth of all goods consumed within the borders of a nation.
7.
A price index shows
(a)
the current cost of a basket of goods.
(b)
the relative price of necessities.
(c)
the price of goods in the future.
(d)
the cost of today’s goods expressed in terms of the cost of goods in a base year.
8. A public good is:
(a) a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
(b) a good or service which is consumed by both the paying and nonpaying customers.
(c) any good or service which is produced by the government.
(d) a good or service which is consumed by private individuals and financed by private contributions.
9.
The sum of all planned expenditures for the entire economy at each possible price level is
(a)
aggregate supply.
(b)
effective demand.
(c)
aggregate demand.
(d)
actual expenditures by consumers.
10.
Suppose the total value of all assets in the United States is $10 trillion. In 2006, the total value of all final services produced in the United States was $100 billion, the total value of all final goods produced in the United States was $300 billion, and the total value of all final goods and services produced by American firms in other countries was $100 billion. In this situation, gross domestic product for 2006 was
(a)
$600 billion.
(b)
$500 billion.
(c)
$400 billion.
(d).
Week 7 assignment Please submit your answers electronically (t.docxmelbruce90096
Week 7 assignment
Please submit your answers electronically (to your assignment folder). This assignment is worth 100 points.
Chapter 20: International Trade
1. The United States has a trade deficit in (goods, services) _______ and a trade surplus in (goods, services) ________.
2. Nations tend to trade among themselves because the distribution of economic resources among them is (even, uneven) _______, the efficient production of various goods and services necessitates (the same, different) _______ technologies or combinations or resources, and people prefer (more, less) _______ choices in products.
3. The basic argument for free trade based on the principle of (bilateral negotiations, comparative advantage) ______ is that is results in a (more, less) _______ efficient allocation of resources and a (lower, higher) _______ standard of living.
4. Excise taxes on imported products are (quotas, tariffs) _______, whereas limits on the maximum amount of a product that can be imported are import (quotas, tariffs) _______. Tariffs applied to a product not produced domestically are (protective, revenue) _______ tariffs, but tariffs designed to shield domestic producers from foreign competition are (protective, revenue) _______ tariffs.
5. Nations erect barriers to international trade to benefit the economic positions of (consumers, domestic producers) _______ even though these barriers (increase, decrease) _______ economic efficiency and trade among nations and the benefits to that nation are (greater, less) _______ than the costs to it.
6. Using trade barriers to permit diversification for stability in an economy is not necessary for (advanced, developing) _______ economies such as in the United States, and there may be great economic costs to forcing diversification in (advanced, developing) ________ nations.
Questions 7 through 10 refer to the following tables.
Japan Production Possibilities Table
Production alternatives
Product
A
B
C
D
E
F
Computers
0
4
8
12
16
20
Perfume
40
32
24
16
8
0
France Production Possibilities Table
Production alternatives
Product
A
B
C
D
E
F
Computers
0
3
6
9
12
15
Perfume
60
48
36
24
12
0
7. The data in the tables show that production in
A. Both Japan and France are subject to increasing opportunity costs
B. Both Japan and France are subject to constant opportunity costs
C. Japan is subject to increasing opportunity costs and France to constant opportunity costs
D. France is subject to increasing opportunity costs and Japan to constant opportunity costs
8. If Japan and France engage in trade, the terms of trade will be
A. Between 2 and 4 units of perfume for 1 computer
B. Between 1/3 and ½ computers for 1 perfume
C. Between 3 and 4 computers for 1 perfume
D. Between 2 and 4 computers for 1 perfume
9. Assume that prior to specialization and trade Japan and France choose production possibility C. Now if each specializes according to its comparative advantage, the resulting gains from specialization a.
The document discusses key economic goals and indicators used to measure economic performance, including low inflation, low unemployment, a healthy balance of payments, and high economic growth. It defines inflation, unemployment, balance of payments, and economic growth. For each concept, it provides the measurement used (e.g. Consumer Price Index for inflation, unemployment rate for unemployment) and a brief explanation of the measurement. It also discusses GDP and the three approaches used to calculate it - output, expenditure, and income.
Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country in a given period of time, usually a year or quarter. GDP equals the total consumption (C) plus total investment (I) plus total government spending (G) plus net exports (exports - imports) within the country. Consumption includes household spending on goods and services as well as imputed rental values for owner-occupied housing. Investment includes business spending on equipment, structures and inventories to produce future output. Government spending includes purchases of goods and services but not transfer payments. Net exports are foreign purchases of domestic output minus domestic purchases of foreign output.
This document summarizes key points about international trade and trade policies:
1. International trade impacts countries' economic development and specialization based on comparative advantages.
2. Trade barriers and quotas impact supply and demand dynamics between countries.
3. Factors like imports, exports, and relative prices affect domestic production and consumption.
The document defines GDP (gross domestic product) and provides three equivalent definitions:
1) Total expenditures on final goods and services produced domestically in a year
2) Sum of the value added at each stage of production by all domestic industries plus taxes and subsidies
3) Sum of all domestic income including employee compensation, business profits, taxes, and subsidies.
Q1. The total resource cost of goods and services produced by the U..pdfairwaysknits
Q1. The total resource cost of goods and services produced by the U. S. economy is known as
a. real GDP
b. personal income
c. national wealth
d. national income
Q2. The difference between GDP and final sales equals
a. depreciation
b. exports
c. imports
d. net inventory change
Q3. Current disposable income can be adjusted for price changes and population changes to yield
real per capita disposable income.
a. true
b. false
Q4. If a lawn service mows your grass, it is included in the GDP.
a. true
b. false
Q5. In national income accounting, grain fed to a hog at a commercial hog farm is considered
a(n)
a. final good
b. intermediate good
c. consumer good
d. capital consumption allowance
Q6. Imports constitute a minus figure in national income accounting.
a. true
b. false
Q7. The total value added in the production of a final good
a. exceeds the price of the final good
b. equals the price of the final good
c. exceeds the total payments made to owners of productive resources used in the production
d. both (b) and (c)
Q8. The GDP is reported on a monthly basis by the Department of Commerce.
a. true
b. false
Q9. Transfer payments are added to NI in the process of determining personal income.
a. true
b. false
Q10. U.S. gross domestic product is converted to U.S. gross national product by
a. adding the value of output produced by U.S.-owned resources in foreign countries
b. subtracting the value of output produced by U.S.-owned resources in foreign countries
c. subtracting the value of output produced in the United States by foreign-owned resources
d. both (a) and (c)
Q11. Final sales are always larger than the GDP.
a. true
b. false
Q12. Because of the value of things produced inside households, (building your own desk,
mowing your own lawn, etc.)
a. the GDP value is automatically adjusted upward to reflect this
b. the GDP value is automatically adjusted downward to reflect this
c. Official GDP is surely smaller than true total output
d. Official GDP is surely larger than true total output
Q13. A government surplus may trigger a decline in the money supply.
a. true
b. false
Q14. Real wages are determined by multiplying money wages by the CPI.
a. true
b. false
Q15. The more volatile the inflation rate, the weaker the money supply as a standard of deferred
payment.
a. true
b. false
Q16. An increase in the money supply always causes an increase in the price level.
a. true
b. false
Q17. Your nominal wages rose during the same period from $200 a week to $260. By how much
did your real income rise?
a. 30 percent
b. 16.7 percent
c. 8.33 percent
d. 12 percent
Q18. In the past 10 years or so, average real wages of U.S. workers in nonagricultural industries
have
a. increased about 40 percent
b. increased slightly
c. remained about the same
d. declined
Q19. If a new cash deposit creates excess reserves of $5,000 and the required reserve ratio is 10
percent, the banking system can increase the money supply by a maximum of
a. $50,000
b. $500
c. $5,000
d. $4,500
Q20..
1. What is the future value of an ordinary annuity if you depo.docxpaynetawnya
1. What is the future value of an ordinary annuity if you deposit $500 per year for the next 10 years in an account that
earns an interest rate of 4 percent annually?
A. $1,700
B. $5,263
C. $5,000
D. $6,003
2. If an account has an annual interest rate of 6 percent, what is the present value of $1,000,000 to be received 10
years from today?
A. $558,395
B. $356,984
C. $1,790,848
D. $789,633
3. What is the future value of an annuity due if you deposit $1,500 per year for the next 5 years into an account that earns an interest
rate of 5 percent annually?
A. $7,500
B. $11,914
C. $8,703
D. $8,288
4. A current ratio is presently 2 : 1 for a corporation that sells sporting goods. Which of the following statements about
the ratio is correct?
A. The quick ratio is smaller than the current ratio.
B. The current ratio is unchanged by using cash to retire accounts payable.
C. The current ratio is affected by exchanging bonds for stock.
D. The current ratio is increased by purchasing a store with cash, with potential to increase corporate sales.
5. The reserves of commercial banks must be held against
A. losses.
B. the bank as equity.
C. commercial loans.
D. savings deposits
6. When investing in securities, an investor may place a limit order that
A. specifies when the stock will be purchased.
B. establishes the exchange on which the security is to be bought or sold.
C. states a price at which the investor seeks to buy or sell the stock.
D. limits the amount of commissions.
7. What is a nation's cash inflow or outflow on its current account given the following information? Imports $145
Direct investments abroad $72 Foreign purchase of domestic securities $86 Net income from foreign investments $37
Exports $211 Foreign investments in country $143 Purchase of foreign securities $29 Government spending abroad
$22
A. Outflow of $81
B. Inflow of $128
C. Outflow of $128
D. Inflow of $81
8. Which of the following best explains a potential disadvantage of leaving securities in street name?
A. Securities held in street name become the property of the custodian and the customer is only beneficiary of the
securities.
B. Securities held in street name can't be quickly purchased or sold.
C. Correspondence sent by securities issuers may not be forwarded to brokerage clients who own securities held in
street name.
D. In the event of class action suits against securities issuers, the custodian, not the beneficial owner (customer), is the
only party that may benefit from court orders.
9. Entering an order to sell stock at $17 when the bid is $18 to $19 is an example of a
A. market order.
B. short sale.
C. margin payment.
D. limit order.
10. If an individual buys stock on margin and its price rises, the investor
A. may take delivery of the stock.
B. must put up additional collateral.
C. must pay tax on the unrealized gai ...
1. A budget deficit decreases the supply of loanable funds, raising interest rates and reducing investment.
2. Lower investment decreases net capital outflow, appreciating the currency.
3. Capital flight has the opposite effects, increasing rates and depreciating the currency through increased outflows and loan demand.
This document discusses balance of trade and balance of payments for India. It provides definitions and explanations of key terms like trade balance, current account balance, and capital account balance. Some key points:
- India typically runs a trade deficit due to low exports and high imports of oil. Its share of world exports is only about 1%.
- A trade deficit occurs when a country imports more than it exports, while a surplus is the opposite. India has been recording sustained trade deficits.
- The current account balance looks at trade plus investments, services, and transfers. India's current account deficit was $38.4 billion in 2009-2010.
- The capital account balance looks at flows like foreign investments,
This document contains a link to an A+ tutorial and provides the questions and answers to a FIN 403 Final Exam on topics related to international finance. The exam covers currencies, forward contracts, interest rates, exchange rates, the balance of payments, and effects of currency appreciation/depreciation. It also includes questions about the World Bank's objectives, currency conversion rates, and characteristics of derivatives, foreign investment factors, and instruments used in international trade such as letters of credit.
1. The document is a quiz for an accounting course covering topics related to stockholders' equity. It includes 42 multiple choice and true/false questions about concepts such as common stock, preferred stock, treasury stock, retained earnings, dividends, and accounting for stock transactions.
2. The questions cover how these various components of stockholders' equity are defined, classified, and accounted for on the financial statements. For example, it asks about how treasury stock purchases and sales are recorded and how this affects retained earnings and paid-in capital.
3. The quiz aims to test students' understanding of the key terminology and accounting treatments related to presenting a corporation's stockholders' equity section of the balance sheet
This document contains a chapter from an economics textbook on social security and healthcare. It includes 20 true/false questions and 20 multiple choice questions testing knowledge of key concepts related to social security, Medicare, Medicaid, national healthcare systems, and drivers of rising healthcare costs in the US. Some of the questions covered topics like how social security is financed, replacement rates, retirement ages, and effects on savings. Other questions focused on who pays for healthcare in the US, moral hazard from third-party payers, and issues like asymmetric information in healthcare markets.
1. The document discusses a 10-12 page assignment analyzing an accounting information system failure. Students are asked to identify factors that contributed to the failure, assess management responsibility, evaluate where the most significant failure occurred, propose best practices, and outline principles that should not be followed based on research.
2. Students must use at least 3 quality resources and follow APA formatting guidelines. The assignment addresses learning outcomes related to analyzing accounting information systems and the systems development life cycle.
This document provides a quiz on strategic marketing implementation and control from MKT 475 Week 11. It contains 35 multiple choice and true/false questions testing concepts like the balanced scorecard method, internal marketing, marketing metrics, control charts, and the core tasks of a CMO. It also includes 5 essay questions asking to explain dimensions of the marketing planning process, factors influencing strategy implementation, how organizational design helps implement plans, and points to consider when selecting marketing metrics.
Bus 335 staffing organizations week 11 quizEmmaJack2018
This document contains a quiz for BUS 335 Week 11 that covers various topics related to employee turnover. There are 85 multiple choice questions testing understanding of concepts like the types of employee turnover (voluntary, involuntary, downsizing), predictors of turnover intentions, costs of turnover, performance management, and legal considerations around termination. The quiz covers the full chapter on managing human capital losses from employee turnover.
The document provides instructions for a term paper assignment on web application security challenges for a Chief Security Officer of an e-commerce company. It consists of two sections: a written paper and PowerPoint presentation. For the paper, the CSO must summarize current web security states, techniques to mitigate challenges, resources to monitor threats, and validate security procedures. It must be 8-10 pages and cite at least 4 quality resources. For the presentation, the CSO must detail board recommendations over 8-10 slides with speaking notes to communicate information to the executive board.
The document discusses financial statement analysis techniques including horizontal analysis, vertical analysis, and ratio analysis. It provides examples of true-false and multiple choice questions related to analyzing liquidity, profitability, and other financial metrics. The questions cover topics such as the calculation of percentage changes, interpreting current ratios, and identifying interested parties in a company's liquidity.
Leg 500 week 11 final exam – strayer newEmmaJack2018
This document contains a LEG 500 final exam from Strayer University covering chapters 1 through 9 of the textbook. It includes 20 multiple choice questions and 20 essay questions testing knowledge of business law, ethics, and privacy issues. Key topics covered include duty to rescue laws, whistleblowing, corporate social responsibility, benefit corporations, privacy in the digital workplace, and protecting genetic information. The exam provides a comprehensive review of legal and ethical issues faced by businesses.
1. If the British pound depreciates against the U.S. dollar, a U.S.-based MNC firm may be able to charge more in dollar terms for goods sold in the U.K. market while keeping pound prices stable, or the firm may have to cut dollar prices or risk being priced out of the U.K. market if costs stay constant in dollars.
2. Governments try to control borders to limit illegal immigration, which is an example of a market imperfection.
3. A multinational firm is one incorporated in one country that has production and sales operations in several other countries.
National Income Accounting - Book VersionMark Anthony
This document discusses measuring GDP using the expenditure and income approaches. It defines GDP as the total market value of final goods and services produced within a country in a given period. The four main categories of expenditure are personal consumption, gross private investment, government spending, and net exports. Using the income approach, GDP is measured as the sum of compensation of employees, business profits, interest, and other income. The document also discusses real GDP, inflation, and limitations of GDP as a welfare measure.
test bank International Trade, 5e Robert Feenstra, Alan Taylor test bank.pdfNailBasko
This document contains a chapter from an economics textbook on international trade. It includes 47 multiple choice questions covering topics like impacts of the coronavirus pandemic on medical trade, definitions of imports, exports, trade balances, and how international trade statistics are calculated. It also contains information about major trading partners and regions like the European Union.
Sample Macro QuestionsMultiple Choice (Select the best option av.docxanhlodge
Sample Macro Questions
Multiple Choice (Select the best option available.)
1..
In the factor market, households
(a)
sell resources.
(b)
buy resources.
(c)
are neither buyers nor sellers of resources.
(d)
are both buyers and sellers of resources.
2.
GDP does not include
(a)
business investment.
(b)
overseas production of U.S. subsidiaries.
(c)
net exports.
(d)
consumption expenditures.
3.
Official unemployment rates may underestimate the true rate of unemployment because the
official rate
(a)
includes those workers who only work part time.
(b)
may include some individuals who are not actually in the labor force.
(c)
does not include individuals receiving any type of unemployment compensation.
(d)
fails to include discouraged workers.
4.
If the U.S. economy enters a recessionary phase, the
(a)
economy experiences full employment.
(b)
unemployment rate will increase.
(c)
entire population will be unemployed.
(d)
entire population will be partially unemployed.
5.
The circular flow diagram shows
(a)
goods, services, and money payments flowing in the same direction.
(b)
goods and money payments flowing in one direction and services flowing in the opposite direction.
(c)
goods and services flowing in one direction and money payments in the other direction.
(d)
goods flowing in one direction and services and money payments flowing in the other direction.
6.
GDP measures
(a)
the total value of labor used in the economy.
(b)
the total market value of final goods and services produced within a nation’s borders.
(c)
the total income received by residents of a nation.
(d)
the total worth of all goods consumed within the borders of a nation.
7.
A price index shows
(a)
the current cost of a basket of goods.
(b)
the relative price of necessities.
(c)
the price of goods in the future.
(d)
the cost of today’s goods expressed in terms of the cost of goods in a base year.
8. A public good is:
(a) a good or service for which it is relatively easy to exclude nonpaying customers from consumption.
(b) a good or service which is consumed by both the paying and nonpaying customers.
(c) any good or service which is produced by the government.
(d) a good or service which is consumed by private individuals and financed by private contributions.
9.
The sum of all planned expenditures for the entire economy at each possible price level is
(a)
aggregate supply.
(b)
effective demand.
(c)
aggregate demand.
(d)
actual expenditures by consumers.
10.
Suppose the total value of all assets in the United States is $10 trillion. In 2006, the total value of all final services produced in the United States was $100 billion, the total value of all final goods produced in the United States was $300 billion, and the total value of all final goods and services produced by American firms in other countries was $100 billion. In this situation, gross domestic product for 2006 was
(a)
$600 billion.
(b)
$500 billion.
(c)
$400 billion.
(d).
Week 7 assignment Please submit your answers electronically (t.docxmelbruce90096
Week 7 assignment
Please submit your answers electronically (to your assignment folder). This assignment is worth 100 points.
Chapter 20: International Trade
1. The United States has a trade deficit in (goods, services) _______ and a trade surplus in (goods, services) ________.
2. Nations tend to trade among themselves because the distribution of economic resources among them is (even, uneven) _______, the efficient production of various goods and services necessitates (the same, different) _______ technologies or combinations or resources, and people prefer (more, less) _______ choices in products.
3. The basic argument for free trade based on the principle of (bilateral negotiations, comparative advantage) ______ is that is results in a (more, less) _______ efficient allocation of resources and a (lower, higher) _______ standard of living.
4. Excise taxes on imported products are (quotas, tariffs) _______, whereas limits on the maximum amount of a product that can be imported are import (quotas, tariffs) _______. Tariffs applied to a product not produced domestically are (protective, revenue) _______ tariffs, but tariffs designed to shield domestic producers from foreign competition are (protective, revenue) _______ tariffs.
5. Nations erect barriers to international trade to benefit the economic positions of (consumers, domestic producers) _______ even though these barriers (increase, decrease) _______ economic efficiency and trade among nations and the benefits to that nation are (greater, less) _______ than the costs to it.
6. Using trade barriers to permit diversification for stability in an economy is not necessary for (advanced, developing) _______ economies such as in the United States, and there may be great economic costs to forcing diversification in (advanced, developing) ________ nations.
Questions 7 through 10 refer to the following tables.
Japan Production Possibilities Table
Production alternatives
Product
A
B
C
D
E
F
Computers
0
4
8
12
16
20
Perfume
40
32
24
16
8
0
France Production Possibilities Table
Production alternatives
Product
A
B
C
D
E
F
Computers
0
3
6
9
12
15
Perfume
60
48
36
24
12
0
7. The data in the tables show that production in
A. Both Japan and France are subject to increasing opportunity costs
B. Both Japan and France are subject to constant opportunity costs
C. Japan is subject to increasing opportunity costs and France to constant opportunity costs
D. France is subject to increasing opportunity costs and Japan to constant opportunity costs
8. If Japan and France engage in trade, the terms of trade will be
A. Between 2 and 4 units of perfume for 1 computer
B. Between 1/3 and ½ computers for 1 perfume
C. Between 3 and 4 computers for 1 perfume
D. Between 2 and 4 computers for 1 perfume
9. Assume that prior to specialization and trade Japan and France choose production possibility C. Now if each specializes according to its comparative advantage, the resulting gains from specialization a.
The document discusses key economic goals and indicators used to measure economic performance, including low inflation, low unemployment, a healthy balance of payments, and high economic growth. It defines inflation, unemployment, balance of payments, and economic growth. For each concept, it provides the measurement used (e.g. Consumer Price Index for inflation, unemployment rate for unemployment) and a brief explanation of the measurement. It also discusses GDP and the three approaches used to calculate it - output, expenditure, and income.
Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country in a given period of time, usually a year or quarter. GDP equals the total consumption (C) plus total investment (I) plus total government spending (G) plus net exports (exports - imports) within the country. Consumption includes household spending on goods and services as well as imputed rental values for owner-occupied housing. Investment includes business spending on equipment, structures and inventories to produce future output. Government spending includes purchases of goods and services but not transfer payments. Net exports are foreign purchases of domestic output minus domestic purchases of foreign output.
This document summarizes key points about international trade and trade policies:
1. International trade impacts countries' economic development and specialization based on comparative advantages.
2. Trade barriers and quotas impact supply and demand dynamics between countries.
3. Factors like imports, exports, and relative prices affect domestic production and consumption.
The document defines GDP (gross domestic product) and provides three equivalent definitions:
1) Total expenditures on final goods and services produced domestically in a year
2) Sum of the value added at each stage of production by all domestic industries plus taxes and subsidies
3) Sum of all domestic income including employee compensation, business profits, taxes, and subsidies.
Q1. The total resource cost of goods and services produced by the U..pdfairwaysknits
Q1. The total resource cost of goods and services produced by the U. S. economy is known as
a. real GDP
b. personal income
c. national wealth
d. national income
Q2. The difference between GDP and final sales equals
a. depreciation
b. exports
c. imports
d. net inventory change
Q3. Current disposable income can be adjusted for price changes and population changes to yield
real per capita disposable income.
a. true
b. false
Q4. If a lawn service mows your grass, it is included in the GDP.
a. true
b. false
Q5. In national income accounting, grain fed to a hog at a commercial hog farm is considered
a(n)
a. final good
b. intermediate good
c. consumer good
d. capital consumption allowance
Q6. Imports constitute a minus figure in national income accounting.
a. true
b. false
Q7. The total value added in the production of a final good
a. exceeds the price of the final good
b. equals the price of the final good
c. exceeds the total payments made to owners of productive resources used in the production
d. both (b) and (c)
Q8. The GDP is reported on a monthly basis by the Department of Commerce.
a. true
b. false
Q9. Transfer payments are added to NI in the process of determining personal income.
a. true
b. false
Q10. U.S. gross domestic product is converted to U.S. gross national product by
a. adding the value of output produced by U.S.-owned resources in foreign countries
b. subtracting the value of output produced by U.S.-owned resources in foreign countries
c. subtracting the value of output produced in the United States by foreign-owned resources
d. both (a) and (c)
Q11. Final sales are always larger than the GDP.
a. true
b. false
Q12. Because of the value of things produced inside households, (building your own desk,
mowing your own lawn, etc.)
a. the GDP value is automatically adjusted upward to reflect this
b. the GDP value is automatically adjusted downward to reflect this
c. Official GDP is surely smaller than true total output
d. Official GDP is surely larger than true total output
Q13. A government surplus may trigger a decline in the money supply.
a. true
b. false
Q14. Real wages are determined by multiplying money wages by the CPI.
a. true
b. false
Q15. The more volatile the inflation rate, the weaker the money supply as a standard of deferred
payment.
a. true
b. false
Q16. An increase in the money supply always causes an increase in the price level.
a. true
b. false
Q17. Your nominal wages rose during the same period from $200 a week to $260. By how much
did your real income rise?
a. 30 percent
b. 16.7 percent
c. 8.33 percent
d. 12 percent
Q18. In the past 10 years or so, average real wages of U.S. workers in nonagricultural industries
have
a. increased about 40 percent
b. increased slightly
c. remained about the same
d. declined
Q19. If a new cash deposit creates excess reserves of $5,000 and the required reserve ratio is 10
percent, the banking system can increase the money supply by a maximum of
a. $50,000
b. $500
c. $5,000
d. $4,500
Q20..
1. What is the future value of an ordinary annuity if you depo.docxpaynetawnya
1. What is the future value of an ordinary annuity if you deposit $500 per year for the next 10 years in an account that
earns an interest rate of 4 percent annually?
A. $1,700
B. $5,263
C. $5,000
D. $6,003
2. If an account has an annual interest rate of 6 percent, what is the present value of $1,000,000 to be received 10
years from today?
A. $558,395
B. $356,984
C. $1,790,848
D. $789,633
3. What is the future value of an annuity due if you deposit $1,500 per year for the next 5 years into an account that earns an interest
rate of 5 percent annually?
A. $7,500
B. $11,914
C. $8,703
D. $8,288
4. A current ratio is presently 2 : 1 for a corporation that sells sporting goods. Which of the following statements about
the ratio is correct?
A. The quick ratio is smaller than the current ratio.
B. The current ratio is unchanged by using cash to retire accounts payable.
C. The current ratio is affected by exchanging bonds for stock.
D. The current ratio is increased by purchasing a store with cash, with potential to increase corporate sales.
5. The reserves of commercial banks must be held against
A. losses.
B. the bank as equity.
C. commercial loans.
D. savings deposits
6. When investing in securities, an investor may place a limit order that
A. specifies when the stock will be purchased.
B. establishes the exchange on which the security is to be bought or sold.
C. states a price at which the investor seeks to buy or sell the stock.
D. limits the amount of commissions.
7. What is a nation's cash inflow or outflow on its current account given the following information? Imports $145
Direct investments abroad $72 Foreign purchase of domestic securities $86 Net income from foreign investments $37
Exports $211 Foreign investments in country $143 Purchase of foreign securities $29 Government spending abroad
$22
A. Outflow of $81
B. Inflow of $128
C. Outflow of $128
D. Inflow of $81
8. Which of the following best explains a potential disadvantage of leaving securities in street name?
A. Securities held in street name become the property of the custodian and the customer is only beneficiary of the
securities.
B. Securities held in street name can't be quickly purchased or sold.
C. Correspondence sent by securities issuers may not be forwarded to brokerage clients who own securities held in
street name.
D. In the event of class action suits against securities issuers, the custodian, not the beneficial owner (customer), is the
only party that may benefit from court orders.
9. Entering an order to sell stock at $17 when the bid is $18 to $19 is an example of a
A. market order.
B. short sale.
C. margin payment.
D. limit order.
10. If an individual buys stock on margin and its price rises, the investor
A. may take delivery of the stock.
B. must put up additional collateral.
C. must pay tax on the unrealized gai ...
1. A budget deficit decreases the supply of loanable funds, raising interest rates and reducing investment.
2. Lower investment decreases net capital outflow, appreciating the currency.
3. Capital flight has the opposite effects, increasing rates and depreciating the currency through increased outflows and loan demand.
This document discusses balance of trade and balance of payments for India. It provides definitions and explanations of key terms like trade balance, current account balance, and capital account balance. Some key points:
- India typically runs a trade deficit due to low exports and high imports of oil. Its share of world exports is only about 1%.
- A trade deficit occurs when a country imports more than it exports, while a surplus is the opposite. India has been recording sustained trade deficits.
- The current account balance looks at trade plus investments, services, and transfers. India's current account deficit was $38.4 billion in 2009-2010.
- The capital account balance looks at flows like foreign investments,
This document contains a link to an A+ tutorial and provides the questions and answers to a FIN 403 Final Exam on topics related to international finance. The exam covers currencies, forward contracts, interest rates, exchange rates, the balance of payments, and effects of currency appreciation/depreciation. It also includes questions about the World Bank's objectives, currency conversion rates, and characteristics of derivatives, foreign investment factors, and instruments used in international trade such as letters of credit.
Quiz, week #2Measuring macro outcomesMy expectations are that .docxcatheryncouper
Quiz, week #2
Measuring macro outcomes
My expectations are that it will take a page or more to answer the two questions below
1.Are people worse off when the price level rises as fast as their income? Why do people often feel worse off in such circumstances?
2.Identify two groups that benefit from deflation and two that lose.
Chapter 5
1.NATIONAL-INCOME ACCOUNTING
This chapter introduces national-income accounting. The data generated by national-income accounting is used to track the economy’s performance. This chapter provides a framework on which future chapters will build. The three questions that are to be kept in mind while reviewing the chapter are:
1. How much income is being produced? What is it being used for?
2. How much income is being generated in the marketplace?
3. What’s happening to prices and wages?
OUTLINE
I. Introduction
A. Government only wants to tackle problems that it can measure.
B. The Great Depression resulted in a commitment to national income accounting.
1. Definition: National-Income Accounting – The measurement of aggregate economic activity, particularly national income and its components.
2. Developed by Simon Kuznets and the U.S. Department of Commerce, it answers questions such as:
• How much output is being produced? What is it being used for?
• How much income is being generated in the marketplace?
• What’s happening to prices and wages?
II. Measures of Output
A. Gross Domestic Product (GDP) (Figure 5.1a and b, Table 5.1)
1. Definition: Gross Domestic Product (GDP) – The total dollar value of final output produced within a nation’s borders in a given time period.
2. The use of prices to value market output allows us to summarize output activity and compare outputs of one period with that of another.
3. GDP vs. GNP
• GNP refers to output produced by American-owned factors regardless of location.
• GDP refers to output produced within America’s borders.
• GDP is geographically focused, including all output produced within a nation’s borders regardless of whose factors of production are used to produce it.
• For example, Apple’s output in Singapore ends up in Singapore’s GDP; the cars produced at Honda’s Ohio plant are counted in US GDP.
4. International Comparisons
• The geographic focus of GDP facilitates international comparisons of economic activity.
• The World View in chapter 2 illustrates a comparison of GDP values.
5. GDP per Capita
• Definition: GDP per Capita - Total GDP divided by total population: average GDP.
• GDP per capita is commonly used as a measure of a country’s standard of living.
• Disparities in per capita GDP mean that people in low-income countries have little access to telephones, televisions, paved roads, schools, and healthcare.
• World View: “Global Inequalities”
Over 1.3 billion people live in nations the World Bank calls “low-income”. The average income in low-income nations is only $1,500. Behind sta ...
1. The document discusses measuring GDP and economic growth. It defines GDP and explains how the Bureau of Economic Analysis measures US GDP using the expenditure and income approaches.
2. Real GDP is discussed as a way to separate economic growth from inflation. It explains how real GDP is calculated using base year prices or chain-weighted indexes.
3. The limitations of using real GDP as a welfare measure are outlined, as it does not capture all aspects of economic well-being.
This document is a quiz for an economics course covering international finance topics like exchange rates, currency adjustments, and balance of payments. It contains 51 multiple choice questions testing understanding of concepts like the absorption approach, J-curve effect, Marshall-Lerner conditions, and monetary approach to currency devaluations. The questions analyze how currency appreciations and depreciations would impact trade balances and competitiveness under different elasticity conditions and sourcing arrangements. Sample questions assess the effects of a yen appreciation on Toyota's costs if some inputs are dollar-denominated.
This document is a quiz for an economics course covering international finance topics like exchange rates, currency adjustments, and balance of payments. It contains 51 multiple choice questions testing understanding of concepts like the absorption approach, J-curve effect, Marshall-Lerner conditions, and monetary approach to currency devaluations. The questions analyze how currency appreciation/depreciation would impact trade balances and competitiveness under different elasticity assumptions. Sample questions examine the effects of exchange rate changes on a hypothetical Toyota cost structure sourcing some inputs internationally.
This document contains a 30 question multiple choice quiz about exchange rate adjustments and the balance of payments. The questions cover various economic concepts related to how currency values impact trade balances, including: the absorption approach, J-curve effect, Marshall-Lerner conditions, currency pass-through effect, and how currency fluctuations impact the competitiveness of companies with foreign sourcing.
This document contains a 51 question multiple choice quiz about exchange rates and balance of payments. The quiz covers various economic concepts related to how currency valuations impact trade balances, including: the absorption approach, J-curve effect, Marshall-Lerner condition, monetary approach, and elasticity of demand for imports and exports. It also provides a hypothetical cost table for Toyota and questions about how currency fluctuations would impact Toyota's costs.
Cis 562 week 11 final exam – strayer newEmmaJack2018
This document provides an excerpt from a study guide for the CIS 562 Week 11 Final Exam at Strayer University. It includes multiple choice, true/false, and completion questions about computer forensics tools, file systems, analysis and validation techniques. Some key topics covered include write-blocking tools, Linux and Mac file systems, steganography detection, and forensic software like FTK and AccessData.
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- Sample questions assess knowledge of components that determine the cost of debt, definitions of terms like risk-free rate, and rates typically used to evaluate ventures at different stages of development.
- The exam appears to comprehensively test understanding of how to measure and apply concepts related to evaluating the different costs of financial capital for ventures.
This document contains a quiz on analyzing financial statements. It includes 36 true-false statements and 1 multiple choice question testing concepts such as:
- Horizontal analysis compares financial statement items over time.
- Vertical analysis expresses each item as a percentage of a base amount like net sales.
- Key financial ratios measure liquidity, profitability, and leverage.
This document provides a summary of the BUS 517 Final Exam from Strayer University. It includes questions from chapters 6-8, 9-12, 13-14, and 16 of the course material. The exam covers topics like project networks, activity-on-arrow diagrams, critical paths, lags, floats, and risk management. It contains 95 multiple choice questions testing understanding of key project management concepts from the course curriculum.
Bus 536 week 11 final exam – strayer newEmmaJack2018
This document provides a chapter summary and exam questions for BUS 536 Week 11 Final Exam from Strayer University. It includes 20 true/false questions and 29 multiple choice questions covering topics such as strategic alliances, networks, global competitive dynamics, and managing interfirm relationships. An online link is provided to purchase materials with the answers.
Cis 513 week 11 final exam – strayer newEmmaJack2018
This document provides information about purchasing exam materials for CIS 513 Week 11 at Strayer University. It includes chapters covering wireless personal area networks (WPANs), high-rate WPANs, low-speed wireless local area networks (WLANs), and wireless LAN security. True/false, multiple choice, completion, short answer, and matching questions are provided to test understanding of the content. A link is given to instantly download the exam with answers.
This document summarizes a quiz for a business course. It contains 39 multiple choice questions about topics like business processes, business process management, systems development lifecycle, project management, and information systems. The questions are from chapters 13 and 14 on business process management and systems development in the course textbook.
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Google Calendar is a versatile tool that allows users to manage their schedules and events effectively. With Google Calendar, you can create and organize calendars, set reminders for important events, and share your calendars with others. It also provides features like creating events, inviting attendees, and accessing your calendar from mobile devices. Additionally, Google Calendar allows you to embed calendars in websites or platforms like SlideShare, making it easier for others to view and interact with your schedules.
Building a Raspberry Pi Robot with Dot NET 8, Blazor and SignalRPeter Gallagher
In this session delivered at NDC Oslo 2024, I talk about how you can control a 3D printed Robot Arm with a Raspberry Pi, .NET 8, Blazor and SignalR.
I also show how you can use a Unity app on an Meta Quest 3 to control the arm VR too.
You can find the GitHub repo and workshop instructions here;
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Building a Raspberry Pi Robot with Dot NET 8, Blazor and SignalR
Eco 302 week 11 quiz strayer
1. ECO 302 Week 11 Quiz - Strayer
Click on The Link Below to Purchase A+ Graded Course Material
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Chapter 17 and 18
TRUE/FALSE
1. With an international sector real GNP is consumption plus gross
investment plus government purchases plus net real asset income from abroad.
2. The balance of trade is net exports or imports less exports.
3. A higher current account deficit is caused by a declining domestic
economy.
4. The real current account balance is real national saving less net
domestic investment.
5. Tariffs and quotas lead to a higher real GDP growth rate in the country
imposing them.
6. The law of one price says that there must be a unique price for a good
in each location where it is sold.
7. If the home country has a real GNP which is greater than real domestic
expenditure, then the home country has a current-account deficit.
8. Foreign direct investment occurs when the home country acquires
additional ownership of capital located in the rest of the world.
2. 9. If the home country has negative trade balance, then its real GDP is
less than real domestic expenditure.
10. The equilibrium business-cycle model predicts that the real current-
account balance will be countercyclical.
MULTIPLE CHOICE
1. The law of one price:
a. prohibits price discrimination. c. is a tax on imports.
b. is that markets work to ensure that the same good has the same price in all
locations. d. prohibits price increases unless firms can show their are
unusual circumstances.
2. The difference between real GDP in a closed economy and real GNP
in a open economy is:
a. net real asset income from abroad. c. net international investment
position.
b. net imports. d. the trade balance.
3. Real GNP in an open economy is:
a. the closed economy real output less net real asset income from abroad. c.
the closed economy real output less gross real asset income from abroad.
b. the closed economy real output plus gross real asset income from abroad. d.
the closed economy real output plus net real asset income from abroad.
4. Net real asset income from abroad is:
a. rt-1•Bft-1/P. c. (Bft - Bft-1)/P.
b. Yt - (Ct +It +Gt ). d. ((Bft - Bft-1)/P) - (rt-1•Bft-1/P).
5. Net real foreign investment is:
a. rt-1•Bft-1/P. c. (Bft - Bft-1)/P.
b. Yt - (Ct +It +Gt ). d. ((Bft - Bft-1)/P) - (rt-1•Bft-1/P).
3. 6. The trade balance is:
a. rt-1•Bft-1/P. c. (Bft - Bft-1)/P.
b. Yt - (Ct +It +Gt ). d. ((Bft - Bft-1)/P) - (rt-1•Bft-1/P).
7. The balance on the current account:
a. rt-1•Bft-1/P. c. (rt-1•Bft-1/P) + ((Bft - Bft-1)/P).
b. Yt + (rt-1•Bft-1/P) - (Ct +It +Gt ). d. ((Bft - Bft-1)/P) - (rt-1•Bft-1/P).
8. The balance on the current account is:
a. real GNP less net foreign investment income. c. real GNP less the
net international investment position.
b. real GNP less net foreign investment. d. real GNP less real domestic
expenditure.
9. The real current-account balance is:
a. net real asset income from abroad less trade balance c. trade
balance times the net real asset income from abroad.
b. trade balance plus the net real asset income from abroad. d. trade
balance less the net real income from abroad.
10. The real current account balance equals:
a. net foreign investments. c. the trade balance plus net real asset
income from abroad.
b. real GNP less real domestic expenditure. d. all of the above.
11. The real current account balance equals:
a. net foreign investments. c. the trade balance.
b. the net international investment position. d. all of the above.
4. 12. The real current account balance equals:
a. the trade balance. c. the net international investment position.
b. real GNP less real domestic expenditure. d. all of the above.
13. The real current account balance equals
a. the net international investment position. c. the trade balance plus net
real asset income from abroad.
b. the trade balance. d. all of the above.
14. The trade balance is:
a. the difference between exports and imports. c. the real current-account
balance less net real asset income from abroad.
b. real GDP less real domestic expenditure. d. all of the above.
15. The trade balance is:
a. the difference between exports and imports. c. net foreign investment.
b. real asset income from abroad. d. all of the above.
16. The trade balance is:
a. the balance on the current account. c. net foreign investment.
b. real GDP less real domestic expenditure. d. all of the above.
17. The trade balance is:
a. net foreign investment. c. the real current-account balance less net
real asset income from abroad.
b. the net international investment position. d. all of the above.
18. In the market clearing model with world markets for goods and credit,
an increase in technology, A, in the home country causes:
a. an increase in the MPK. c. an increase in borrowing from
foreigners.
5. b. an increase in home country gross domestic investment. d. all of the
above.
19. In the market clearing model with world markets for goods and credit,
an increase in technology, A, in the home country causes:
a. an increase in the MPK. c. an increase in lending to foreigners.
b. an decrease in home country gross domestic investment. d. all of the
above.
20. In the market clearing model with world markets for goods and credit,
an increase in technology, A, in the home country causes:
a. an decrease in the MPK. c. an increase in lending to foreigners.
b. an increase in home country gross domestic investment. d. all of the
above.
21. In the market clearing model with world markets for goods and credit,
an increase in technology, A, in the home country causes:
a. a decrease in the MPK. c. an increase in borrowing from
foreigners.
b. a decrease in gross domestic investment. d. all of the above.
22. In the market clearing model with world markets for goods and credit,
an increase in technology, A, in the home country causes:
a. a larger current account deficit. c. a lower MPK.
b. a smaller current account deficit. d. lower domestic gross investment.
23. In the market clearing model with world markets for goods and credit,
a decrease in technology, A, in the home country causes:
a. a larger current account deficit. c. a higher MPK.
b. a smaller current account deficit. d. higher domestic gross
investment.
6. 24. The open economy equilibrium business-cycle model predicts that the
real current account balance will be:
a. acyclical. c. countercyclical.
b. procyclical. d. exogenous.
25. The open economy equilibrium business-cycle model predicts that the
real current account balance will be:
a. the same in expansions and recession. c. high in expansions and
low in recessions.
b. low in expansions and high in recessions. d. invariant with the
business cycle.
26. In US data the real current account balance is:
a. procyclical when the model predicts it will be countercyclical. c.
countercyclical when the model predicts it will be procyclical.
b. procyclical as the model predicts. d. countercyclical as the model
predicts.
27. In US data the real current account balance is:
a. procyclical. c. countercyclical.
b. weakly procyclical. d. weakly countercyclical.
28. While according to the model the current account balance will be
countercyclical, the balance can also decline due to:
a. a temporary negative shock like a harvest failure. c. a temporary
increase in government purchases as in war time.
b. a less developed country having a low capital stock. d. all of the
above.
29. While according to the model the current account balance will be
countercyclical, the balance can also decline due to:
a. a temporary negative shock like a harvest failure. c. a permanent
decrease in government purchases.
b. a less developed country having poor institutions for growth. d. all
of the above.
7. 30. While according to the model the current account balance will be
countercyclical, the balance can also decline due to:
a. a temporary positive shock like a good harvest. c. a permanent
decrease in government purchases.
b. a less developed country having a low capital stock. d. all of the
above.
31. While according to the model the current account balance will be
countercyclical, the balance can also decline due to:
a. a temporary positive shock like a positive harvest c. a temporary
increase in government purchases as in war time.
b. a less developed country having a high capital stock. d. all of the
above.
32. In the Ricardian case, if the government budget deficit is increased,
then the trade balance:
a. moves toward a deficit too. c. is unaffected.
b. moves toward a surplus. d. is exogenous.
33. The terms of trade are:
a. ($ per home good)/($ per foreign good). c. foreign good per home
good.
b. the number of units of foreign goods that can be imported for each unit of
home goods exported. d. all of the above.
34. The terms of trade are:
a. ($ per home good)/($ per foreign good). c. home good per foreign
good.
b. the number of units of home goods that can be exported for each unit of
foreign goods imported. d. all of the above.
8. 35. The terms of trade are:
a. ($ per foreign good)/($ per home good). c. home good per foreign
good.
b. the number of units of foreign goods that can be imported for each unit of
home goods exported. d. all of the above.
36. The terms of trade are:
a. ($ per home foreign/($ per home good). c. foreign good per home
good.
b. the number of units of home goods that can be exported for each unit of
foreign goods imported. d. all of the above.
37. An increase in the terms of trade:
a. raises real GDP. c. increases real national saving if the change in
terms of trade is less than fully permanent.
b. increases consumption. d. all of the above.
38. An increase in the terms of trade:
a. raises real GDP. c. lowers real national saving.
b. decreases consumption. d. all of the above.
39. An increase in the terms of trade:
a. reduces real GDP. c. lowers real national saving.
b. increases consumption. d. all of the above.
40. An increase in the terms of trade:
a. reduces real GDP. c. increases real national saving if the change in
terms of trade is less than fully permanent.
b. decreases consumption. d. all of the above.
41. A decrease in the terms of trade:
9. a. reduces real GDP. c. decreases real national saving if the change in
terms of trade is less than fully permanent.
b. decreases consumption. d. all of the above.
42. A decrease in the terms of trade:
a. reduces real GDP. c. increases real national saving if the change in
terms of trade is less than fully permanent.
b. increases consumption. d. all of the above.
43. If the government reduces tariffs or quotas on imports, then:
a. real GDP will increase. c. net domestic investment will rise.
b. the real current account balance falls. d. all of the above.
44. If the government reduces tariffs or quotas on imports, then:
a. real GDP will increase. c. net domestic investment will fall.
b. the real current account balance rises. d. all of the above.
45. If the government reduces tariffs or quotas on imports, then:
a. real GDP will decrease. c. net domestic investment will fall.
b. the real current account balance falls. d. all of the above.
46. If the government reduces tariffs or quotas on imports, then:
a. real GDP will decrease. c. net domestic investment will rise.
b. the real current account balance rises. d. all of the above.
47. If the government imposes or increases tariffs or quotas on imports,
then:
a. real GDP will decrease. c. net domestic investment will fall.
b. the real current account balance rises. d. all of the above.
10. 48. If the government imposes or increases tariffs or quotas on imports,
then:
a. real GDP will decrease. c. net domestic investment will rise.
b. the real current account balance falls. d. all of the above.
49. If the government imposes or increases tariffs or quotas on imports,
then:
a. real GDP will increase. c. net domestic investment will rise.
b. the real current account balance rises. d. all of the above.
50. If the government reduces tariffs or quotas on imports, then:
a. real GDP will increase. c. net domestic investment will fall.
b. the real current account balance falls. d. all of the above.
51. If we observe that the price of a good is higher in one location than in
another location, this observation
a. violates the law of one price. c. violates the law of one GDP.
b. validates the law of one price. d. validates the law of one GDP.
52. Foreign direct investment is
a. the home country’s additional supply of labor to the rest of the world. c.
the home country’s additional demand for labor from the rest of the world.
b. the home country’s additional ownership of capital in the rest of the world. d.
the foreign country’s additional demand for labor in the home country.
53. When the home country acquires additional ownership of capital
located in the rest of the world, it has is
a. reduced foreign indirect investment. c. acquired foreign direct
investment.
b. acquired foreign divested investment. d. reduced foreign direct
intervention.
11. 54. Real gross national product in an open economy includes
a. real GDP. c. net real labor costs from abroad.
b. net real asset income from abroad. d. (a) and (b).
55. If the home country has a real GNP which is greater than real domestic
expenditure, then the home country has
a. a current-account suplus. c. balance on the current account.
b. a current-account deficit. d. none of the above.
56. If the home country has a real GNP which is less than real domestic
expenditure, then the home country has
a. a current-account suplus. c. balance on the current account.
b. a current-account deficit. d. none of the above.
57. If the home country has a real GNP which is equal to real domestic
expenditure, then the home country has
a. a current-account suplus. c. balance on the current account.
b. a current-account deficit. d. none of the above.
58. If the home country has a real GNP which is greater than net foreign
investment, then the home country has
a. a current-account suplus. c. balance on the current account.
b. a current-account deficit. d. none of the above.
59. If the home country has a real GDP which is greater than real domestic
expenditure, then the home country has
a. a trade balance that is positive. c. a trade balance that is zero.
b. a trade balance that is negative. d. none of the above.
60. If the home country has a real GDP which is less than real domestic
expenditure, then the home country has
12. a. a trade balance that is positive. c. a trade balance that is zero.
b. a trade balance that is negative. d. none of the above.
61. Historical data on the U.S. current account balance show
a. a deficit from the turn of the twentieth century through the mid-1970s. c.
a surplus for the twentieth century through the mid-1970s.
b. a surplus in most of the past two decades. d. a zero current account
balance for most of the twentieth century.
62. Historical data on the U.S. current account balance show that one of
the largest ratios for the current-account balance relative to GDP occurred
a. as a surplus, in the early 1970s. c. as a surplus, in the early 2000s.
b. as a deficit, in the early 1990s. d. as a deficit, in the early 2000s.
63. Historical data on the ratio of U.S. nominal exports and imports to
GDP show
a. a generally rising ratio since 1950. c. a generally positive but steady
ratio since 1950.
b. a generally falling ratio since 1950. d. a ratio hovering around zero
since 1950.
64. Historical data on the ratio of U.S. net international investment to GDP
show
a. a steady increase in the ratio since 1980. c. a steady ratio since 1980.
b. a steady decline in the ratio since 1980. d. no discernable pattern in
the ratio since 1980.
65. Historical data on the ratio of U.S. net factor income from abroad to
GDP show
a. a steady increase in the ratio since 1980. c. a peak in the ratio around
1980, followed by a decline through 1987.
b. a steady decline in the ratio since 1960. d. no discernable pattern in
the ratio since 1980.
13. 66. A developing country with good prospects means that the country’s
current-account balance would likely be
a. negative. c. zero.
b. positive. d. impossible to determine.
SHORT ANSWER
1. What is the real current account balance?
2. What are the effects of a permanent increase in technology in the open
market clearing model?
3. What does the open market clearing model predict about the
association of the real current account balance and real GDP growth and what do the
data on the US show?
4. Does a government budget deficit lead to a real current-account
deficit?
5. What are the effects of reducing tariffs and quotas in the open market
clearing model?
Chapter 18
TRUE/FALSE
1. If the dollar per yen exchange rate rises, then so does the value of the
dollar.
2. When absolute purchasing power parity holds, the real exchange rate is
1.
14. 3. Relative purchasing power parity says that the country with the higher
inflation rate will see its currency depreciate.
4. The interest rate differential between two countries is the real interest
rate.
5. If a country fixes its exchange rate, it gives up control of its money
supply.
6. The nominal exchange rate is measured by quantities of currencies
exchanged, while the real exchange rate is measured by quantities of goods
exchanged.
7. Fixed exchange rates are determined by market forces.
8. Flexible exchange rates are determined by market forces.
9. Poorer countries tend to have high real exchange rates because the
prices for nontradable goods is low in these countries.
10. The combination of interest rate parity and relative purchasing power
parity implies that expected real incomes are the same in the home country and the
foreign country.
MULTIPLE CHOICE
1. The nominal exchange rate is:
a. foreign good per home good. c. the number of units of foreign currency
per one unit of the home currency.
15. b. the number of units of foreign currency per one unit of home currency divided
by the ratio of the foreign price level to the home price level. d. all of the
above.
2. The real exchange rate is:
a. foreign good per home good. c. the number of units of foreign currency
per one unit of the home currency.
b. nominal exchange rate divided by the ratio of the foreign price level to the
home price level. d. all of the above.
3. Flexible exchange rates are determined by:
a. the market. c. the UN.
b. the home country government. d. the International Monetary Fund.
4. Fixed exchange rates are determined by:
a. the market. c. the UN.
b. the governments of the two countries. d. the International
Monetary Fund.
5. Purchasing power parity is the idea that:
a. the nominal exchange equals the ratio of the foreign price to the home price.
c. the nominal exchange equals the home price less the foreign price.
b. the nominal exchange rate equals the foreign price time the home price. d.
the nominal exchange equals the home price less the foreign price.
6. Purchasing power parity may not hold due to:
a. inflation. c. market clearing.
b. nontraded goods such as services. d. all of the above.
7. Purchasing power parity may not hold due to:
a. inflation. c. shifts in the terms of trade.
b. market clearing. d. all of the above.
16. 8. Absolutely purchasing power parity means:
a. the quantity of goods that can be bought in the home country equals the
quantity of good that can be bought in the foreign country. c. the nominal
exchange rate is the ratio of the foreign price to the home price.
b. buying and selling goods looks equally attractive in both countries. d.
all of the above.
9. Absolute purchasing power parity means:
a. the quantity of goods that can be bought in the home country equals the
quantity of good that can be bought in the foreign country. c. the nominal
exchange rate is the ratio of the home price to the world price.
b. buying and selling goods looks more attractive in the home country. d.
all of the above.
10. Absolute purchasing power parity means:
a. the quantity of goods that can be bought in the home country is greater than
the quantity of goods that can be bought in the foreign country. c. the
nominal exchange rate is the ratio of the foreign price to the world price.
b. buying and selling goods looks equally attractive in both countries. d.
all of the above.
11. Absolutely purchasing power parity means:
a. the quantity of goods that can be bought in the home country is greater than
the quantity of goods that can be bought in the foreign country. c. the
nominal exchange rate is the ratio of the foreign price to the home price.
b. buying and selling goods looks more attractive in the home country. d.
all of the above.
12. Non-traded goods include:
a. personal services like haircuts. c. consumer goods like shirts.
b. durable goods like tv sets. d. all of the above.
17. 13. Non-traded goods include:
a. commodities like wheat. c. consumer goods like shirts.
b. real estate. d. all of the above.
14. Relative purchasing power parity says that:
a. the growth rate of the nominal exchange rate is the foreign inflation rate less
the home inflation rate. c. the growth rate of the nominal exchange rate is
the home inflation rate plus the foreign inflation rate.
b. the growth rate of the nominal exchange rate is the foreign inflation rate times
the home inflation rate. d. the growth rate of the nominal exchange rate is
the foreign inflation rate divided by the home inflation rate.
15. Relative purchasing power parity implies a country will see its
currency fall in value, if
a. its inflation rate is lower than the foreign inflation rate. c. its inflation
rate is higher than the foreign inflation rate.
b. its price level is higher than the foreign price level. d. its price level is
lower than the foreign price level.
16. Relative purchasing power parity implies a country will see its
currency rise in value, if
a. its inflation rate is lower than the foreign inflation rate. c. its inflation
rate is higher than the foreign inflation rate.
b. its price level is higher than the foreign price level. d. its price level is
lower than the foreign price level.
17. Relative purchasing power parity implies a country will see its
currency keep the same value, if
a. its inflation rate is lower than the foreign inflation rate. c. its inflation
rate is equal to the foreign inflation rate.
b. its price level is higher than the foreign price level. d. its price level is
equal to the foreign price level.
18. 18. If the home inflation rate is 5% and the foreign inflation rate is 9%,
then by relative purchasing power parity the home country would expect is exchange
rate to:
a. rise in value by 5%. c. rise value by 4%.
b. fall in value by 5%. d. fall in value by 4%.
19. If the home inflation rate is 9% and the foreign inflation rate is 5%,
then by relative purchasing power parity the home country would expect is exchange
rate to:
a. rise in value by 5%. c. rise value by 4%.
b. fall in value by 5%. d. fall in value by 4%.
20. If the home inflation rate is 5% and the foreign inflation rate is 5%,
then by relative purchasing power parity the home country would expect is exchange
rate to:
a. rise in value by 5%. c. have no change in its value.
b. fall in value by 5%. d. fall in value by 10%.
21. Interest rate parity says that:
a. the interest rate differential is the growth rate of the nominal exchange rate.
c. the interest rate differential is the growth rate of the real exchange rate.
b. the interest rate differential is ratio of the foreign price level to the home price
level. d. the interest rate differential is ratio of the home price level to the
foreign price level.
22. If the home interest rate is 5% and the foreign interest rate is 7%, then
the expected growth of the nominal exchange rate is:
a. 2%. c. -2%.
b. 5%. d. -12%.
23. If the home interest rate is 5% and the foreign interest rate is 7%, then
the difference in the expected inflation rates is:
a. 2%. c. -2%.
b. 5%. d. -12%.
19. 24. If the home interest rate is 7% and the foreign interest rate is 5%, then
the expected growth of the nominal exchange rate is:
a. 2%. c. -2%.
b. 7%. d. -12%.
25. If the home interest rate is 7% and the foreign interest rate is 5%, then
the difference in the expected inflation rates is:
a. 2%. c. -2%.
b. 7%. d. -12%.
26. If absolute purchasing power parity holds, under fixed exchange rates:
a. the home interest rate equals the foreign interest rate. c. the growth
rate of the nominal exchange rate is zero.
b. the home inflation rate equals the foreign inflation rate. d. all of the
above.
27. If absolute purchasing power parity holds, under fixed exchange rates:
a. the home interest rate equals the foreign interest rate. c. the growth
rate of the nominal exchange rate is positive.
b. the home inflation is lower than the foreign inflation rate. d. all of the
above.
28. If absolute purchasing power parity holds, under fixed exchange rates:
a. the home interest rate is higher than the foreign interest rate. c. the
growth rate of the nominal exchange rate is negative.
b. the home inflation rate equals the foreign inflation rate. d. all of the
above.
29. If absolute purchasing power parity holds, under fixed exchange rates:
a. the home interest rate is higher than the foreign interest rate. c. the
growth rate of the nominal exchange rate is zero.
20. b. the home inflation rate is lower than the foreign inflation rate. d. all
of the above.
30. If a country with a fixed exchange rate tries to raise its money stock it
will:
a. see its central bank gain domestic government bonds. c. see its
money stock fall back to its initial level.
b. see its central bank lose international reserves. d. all of the above.
31. If a country with a fixed exchange rate tries to raise its money stock it
will:
a. see its central bank gain domestic government bonds. c. see its
money stock continue to rise.
b. see its central bank gain international reserves. d. all of the above.
32. If a country with a fixed exchange rate tries to raise its money stock:
a. see its central bank lose domestic government bonds. c. see its
money stock continue to rise.
b. see its central bank lose international reserves. d. all of the above.
33. If a country with a fixed exchange rate tries to raise its money stock:
a. see its central bank lose domestic government bonds. c. see its
money stock fall back to its initial level.
b. see its central bank gain international reserves. d. all of the above.
34. A revaluation is when a country:
a. allows its currency’s value to float. c. lowers the fixed value of its
currency.
b. raises the fixed value of its currency. d. allows its currency value to be set
by the market.
35. A devaluation is when a country:
21. a. allows its currency’s value to float. c. lowers the fixed value of its
currency.
b. raises the fixed value of its currency. d. allows its currency value to be set
by the market.
36. A depreciation is when the value of a country’s currency:
a. is fixed by the government. c. falls in value in the exchange market.
b. rises in value in the exchange market. d. is fixed in relationship to
gold.
37. An appreciation is when the value of a country’s currency:
a. is fixed by the government. c. falls in value in the exchange market.
b. rises in value in the exchange market. d. is fixed in relationship to
gold.
38. Under a fixed exchange rate regime, losses of international reserves
imply that:
a. the pressure on a country that needs to devalue it currency is greater. c.
countries are not under much pressure to change the value of their currency.
b. the pressure on a country that needs to revalue its currency is greater. d.
countries can not change the value of their currencies.
39. Fixed exchange rates:
a. facilitate transactions between countries compared to floating exchange rates.
c. constrain monetary policy officials.
b. make monetary policy interdependent between the countries fixing their
exchange rate. d. all of the above.
40. Fixed exchange rates:
a. facilitate transactions between countries compared to floating exchange rates.
c. give domestic monetary policy officials more autonomy.
b. make monetary policy independent between the countries fixing their
exchange rate. d. all of the above.
22. 41. Fixed exchange rates:
a. make transactions between countries riskier compared to floating exchange
rates. c. give domestic monetary policy officials more autonomy.
b. make monetary policy interdependent between the countries fixing their
exchange rate. d. all of the above.
42. Fixed exchange rates:
a. make transactions between countries riskier compared to floating exchange
rates. c. constrain monetary policy officials.
b. make monetary policy independent between the countries fixing their
exchange rate. d. all of the above.
43. Floating exchange rates:
a. make transactions between countries more difficult. c. provide autonomy
for monetary policy authorities.
b. make monetary policy independent. d. all of the above.
44. Floating exchange rates:
a. make transactions between countries more difficult. c. constrain
monetary policy officials.
b. make monetary policy interdependent between the countries. d. all
of the above.
45. Floating exchange rates:
a. make transactions between countries easier. c. constrain monetary policy
officials.
b. make monetary policy independent. d. all of the above.
46. Floating exchange rates:
a. make transactions between countries easier. c. provide autonomy for
monetary policy authorities.
b. make monetary policy interdependent between the countries. d. all
of the above.
23. 47. Under fixed exchange rates a country’s:
a. money supply is fixed. c. monetary policy makers are not
independent.
b. inflation rate is fixed. d. all of the above.
48. Under fixed exchange rates a country’s:
a. money supply is fixed. c. monetary policy makers are independent.
b. inflation rate will rise. d. all of the above.
49. Under fixed exchange rates a country’s:
a. money supply is domestically controlled. c. monetary policy makers
are independent.
b. inflation rate is fixed. d. all of the above.
50. Under fixed exchange rates a country’s:
a. money supply is domestically controlled. c. monetary policy makers
are not independent.
b. inflation rate will rise. d. all of the above.
51. Suppose the exchange rate between the U.S. dollar and the Argentinian
peso is 3 pesos per dollar today. It rises to 3.1 pesos per dollar the next day. This
means the dollar has
a. appreciated and the peso has depreciated. c. appreciated, and the peso
has appreciated.
b. depreciated and the peso has appreciated. d. depreciated, and the peso
has depreciated.
52. In 1950, one U.S. dollar bought 361 Japanese yen, and in 2006, one
U.S. dollar bought 117 yen. The U.S. dollar
a. gained over half of its value in terms of yen. c. appreciated relative to the
yen.
24. b. lost over half of its value in terms of yen. d. appreciated relative to
most of the world’s currencies.
53. If a country’s government intervenes often in the exchange rate
market, then the country
a. is operating closer to a flexible exchange-rate model than a fixed exchange-
rate model. c. is operating closer to a fixed exchange-rate model than a
flexible exchange-rate model.
b. will experience repeated appreciations of its currency. d. is not a
member of the International Monetary Fund (IMF).
54. At a simplified level, purchasing power parity makes sense because, if
it did not, housefholds would
a. want to purchase all of their goods in one place, the more expensive country.
c. not want to purchase any goods from either country.
b. want to purchase equal portions of their goods in each country. d.
want to purchase all of their goods in one place, the cheaper country.
55. The real exchange rate is measured in units of
a. goods bought in the foreign country relative to goods bought in the home
country. c. labor supply in the foreign country relative to labor supply in
the home country.
b. prices in the foreign country relative to prices in the home country. d.
none of the above.
56. If you can buy one pound of flour for $1.25 in the U.S. and one pound
of flour for 0.75 £ (pounds) in the U.K., then purchasing power parity implies the
a. real exchange rate is 1.25 £ per $. c. nominal exchange rate is 1.67 £
per $.
b. nominal exchange rate is 0.6 £ per $. d. real exchange rate is 0.6 £ per $.
57. Purchasing power parity implies the
a. nominal exchange rate equals one. c. real exchange rate equals one.
b. nominal exchange is greater than one. d. real exchange rate is less
than one.
25. 58. The Balassa-Samuelson hypothesis identifies a pattern of poor
countries having
a. low nominal exchange rates. c. low real exchange rates.
b. high nominal exchange rates. d. high real exchange rates.
59. The pattern of real exchange rates across countries that is identified by
the Balassa-Samuelson hypothesis occurs because
a. low-income countries tend to have low prices for nontradable goods. c.
low-income countries tend to have low prices for tradable goods.
b. low-income countries tend to have high prices for nontradable goods. d.
low-income countries tend to have low real exchange rates.
60. The combination of interest-rate parity and relative purchasing power
parity leads to the conclusion that the
a. foreign expected real interest rate is greater than the home expected real
interest rate. c. foreign expected nominal interest rate equals the home
expected real interest rate.
b. foreign expected real interest rate equals the home expected real interest rate.
d. foreign expected nominal interest rate equals the home expected
nominal interest rate.
61. The Bretton Woods System refers to
a. the flexible exchange-rate system that the International Monetary Fund (IMF)
prefers. c. the fixed exchange-rate regime which linked other currencies to
the dollar and the dollar to gold.
b. the flexible exchange-rate regime introduced just after World War II that gave
France the major role in stabilizing currencies. d. the fixed exchange-rate
regime which linked the U.S. and other currencies to silver.
62. Under the Bretton Woods System, the U.S. dollar
a. was allowed to vary around a wide band compared to other participating
countries. c. was not fixed, but the U.S. nominal interest rate was fixed
relative to other participating countries.
26. b. varied according to market conditions, but the other participating countries did
not allow their currencies to vary. d. was the only participating currency
linked directly to gold.
63. If the country of Colombia decides to fix its nominal exchange rate
with the U.S. dollar, then in the long run, it will have
a. roughly the same inflation rate as the U.S. c. roughly the same real
GDP as the U.S.
b. a higher inflation rate than the inflation rate for the U.S. d. a higher
real GDP than the real GDP in the U.S.
64. One reason that a country with a record of high inflation might want to
fix its nominal exchange rate with the U.S. dollar is that
a. the country will, in the long run, have about the same inflation rate as the U.S.
c. the fixed exchange-rate will act as a monetary-policy rule which
prevents the country from reneging on a pledge of low inflation.
b. the fixed exchange-rate will help the country gain credibility in fighting high
inflation. d. all of the above.
65. In exchange rate policy, sterilization refers to
a. the market’s ability to clear excess quantities of currency supplied rapidly. c.
anti-crime laws the U.S. passed to prevent “money laundering.”
b. the central bank’s attempt to offset an initial intervention in the exchange
market. d. the process the International Monetary Fund (IMF) uses to lend
to a country in need.
66. In a fixed exchange-rate regime, the money supply is
a. exogenous. c. endogenous.
b. interdependent. d. highly skewed.
SHORT ANSWER
1. What is a nominal exchange rate?
27. 2. What is absolute purchasing power parity, what does it imply and why
might it not hold?
3. What is relative purchasing power parity and when does it say the
home country will see its currency lose value?
4. What is interest-rate parity and what does this imply about when the
exchange rate will be stable?
5. What are the advantages of fixed and floating exchange rates?