c. may increase or reduce the nation's welfare d. all of the above
14. The imposition of an optimum tariff by a large nation:
a. improves its terms of trade b. reduces the volume of trade c. increases the nation's welfare d. all of the above
15. The optimum tariff for a small nation is:
a. 100% b. 50%
c. 0
d. depends on elasticities
Multiple-choice Questions for Ch. 13(已学,可参考)
1. Which of the following is false?
a. A credit transaction leads to a payment from foreigners b. A debit transaction leads to a payment to foreigners c. A credit transaction is entered with a negative sign
d. Double-entry bookkeeping refers to each transaction entered twice.
2. Which of the following is a debit?
a. The export of goods b. The export of services
c. Unilateral transfers given to foreigners d. Capital inflows
3. Capital inflows:
a. refer to an increase in foreign assets in the nation b. refer to a reduction in the nation's assets abroad c. lead to a payment from foreigners d. all of the above
4. When a U.S. firm imports goods to be paid in three months the U.S. credits:
a. the current account b. unilateral transfers c. capital
d. official reserves
5. The receipt of an interest payment on a loan made by a U.S. commercial bank to a foreign
resident is entered in the U.S. balance of payments as a:
a. credit in the capital account b. credit in the current account c. credit in official reserves d. debit in unilateral transfers
6. The payment of a dividend by an American company to a foreign stockholder represents:
a. a debit in the U.S. capital account b. a credit in the U.S. capital account
c. a credit in the U.S. official reserve account d. a debit in the U.S. current account
7 .When a U.S. firm imports a good from England a pays for it by drawing on its pound
sterling balances in a London Bank, the U.S. debits its current account and credits its:
a. official reserve account b. unilateral transfers account c. services in its current account d. capital account
8. When the U.S. ships food aid to a developing nation, the U.S. debits:
a. unilateral transfers b. services c. capital
d. official reserves
9. When the resident of a foreign nation (1) sells a U.S. stock and (2) deposits the proceeds in
a U.S. bank, the U.S.:
a. credits capital for (1) and debits capital for (2) b. credits the current account and debits capital c. debits capital and credits official reserves
d. debits capital for (1) and credits capital for (2)
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1. When a U.S. resident (1) purchases a foreign treasury bill and pays by (2) drawing down his
bank balances abroad:
a. debits short-term capital and credits official reserves b. debits capital for (1) and credits capital for (2) c. debits official reserves and credits capital
d. credits short-term capital and debits official reserves
11. From the U.S. point of view, drawing on (reducing) foreign bank balances in a New York
bank represents a: a. capital inflow b. capital outflow
c. outflow of official reserves d. debit in the current account
11. Which is not an official reserve asset of the U.S.? a. U.S. holdings of Special Drawing Rights
b. The U.S. reserve position in the International Monetary Fund c. Foreign official holdings of U.S. dollars
d. Official holdings of foreign currencies by U.S. monetary authorities
13. The capital account of the U.S. includes:
a. the change in U.S. assets abroad and foreign assets in the U.S.
b. the change in U.S. assets abroad and foreign assets in the U.S., other than official
reserve assets c. all financial assets
d. all but current account transactions
14. Accommodating items are:
a. transactions in official reserve assets
b. the items below the line
c. needed to balance international transactions d. all of the above
15. Which of the following is false? a. a net debit balance in the current and capital accounts measures the surplus in the
nation's balance of payments
b. a balance of payments deficit must be settled by a net credit in the official reserve
account
b. a deficit in the balance of payments can be measured by the excess of credits over
debits in the official reserve account
d. a net debit balance in the official reserve account refers to a surplus
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