chương 8

Câu 1 The exchange rate is

• A) the price of one currency relative to gold.
• B) the value of a currency relative to inflation.
• C) the change in the value of money over time.
• D) the price of one currency relative to another.

Câu 2 Exchange rates are determined in

• A) the money market.
• B) the foreign exchange market.
• C) the stock market.
• D) the capital market.

Câu 3 Although foreign exchange market trades are said to involve the buying and selling of currencies, most trades involve the buying and selling of

• A) bank deposits denominated in different currencies.
• B) SDRs.
• C) gold.
• D) ECUs.

Câu 4 The immediate (two-day) exchange of one currency for another is a

• A) forward transaction.
• B) spot transaction.
• C) money transaction.
• D) exchange transaction.

Câu 5 An agreement to exchange dollar bank deposits for euro bank deposits in one month is a

• A) spot transaction.
• B) future transaction.
• C) forward transaction.
• D) deposit transaction.

Câu 6 Today 1 euro can be purchased for $1.10. This is the

• A) spot exchange rate.
• B) forward exchange rate.
• C) fixed exchange rate.
• D) financial exchange rate.

Câu 7 In an agreement to exchange dollars for euros in three months at a price of $0.90 per euro, the price is the

• A) spot exchange rate.
• B) money exchange rate.
• C) forward exchange rate.
• D) fixed exchange rate.

Câu 8 When the value of the British pound changes from $1.25 to $1.50, the pound has ________ and the U.S. dollar has ________.

• A) appreciated; appreciated
• B) depreciated; appreciated
• C) appreciated; depreciated
• D) depreciated; depreciated

Câu 9 When the value of the British pound changes from $1.50 to $1.25, then the pound has ________ and the U.S. dollar has ________.

• A) appreciated; appreciated
• B) depreciated; appreciated
• C) appreciated; depreciated
• D) depreciated; depreciated

Câu 10 When the value of the dollar changes from £0.5 to £0.75, then the British pound has ________ and the U.S. dollar has ________.

• A) appreciated; appreciated
• B) depreciated; appreciated
• C) appreciated; depreciated
• D) depreciated; depreciated