第15章汇率调整与国际收支英文习题.docVIP

PAGE  PAGE 3 《International Economics》 English Exercises PAGE  PAGE 3 Chapter 15 exchange-rate adjustments and the balance of payments 第十五章 汇率调整与国际收支 MULTIPLE-CHOICE QUESTIONS 1. According to the absorption approach（吸收法）, the economic circumstances that best warrant a currency devaluation is where the domestic economy faces: a. Unemployment coupled with a payments deficit b. Unemployment coupled with a payments surplus c. Full employment（充分就业） coupled with a payments deficit d. Full employment coupled with a payments surplus 2. According to the Marshall-Lerner approach, a currency depreciation （货币贬值）will best lead to an improvement on the home country’s trade balance when the: a. Home demand for imports is inelastic—foreign export demand is inelastic b. Home demand for imports is inelastic—foreign export demand is elastic c. Home demand for imports is elastic—foreign export demand is inelastic d. Home demand for imports is elastic—foreign export demand is elastic 3. Assume an economy operates at full employment and faces a trade deficit. According to the absorption approach, currency devaluation will improve the trade balance if domestic: a. Interest rates rise, thus encouraging investment spending b. Income rises, thus stimulating consumption c. Output falls to a lower level d. Spending is cut, thus freeing resources to produce exports 4. The Marshall-Lerner condition （马歇尔-勒纳条件）deals with the impact of currency depreciation on: a. Domestic income b. Domestic absorption c. Purchasing power of money balances d. Relative prices 5. Assume the Canadian demand elasticity for imports equals 0.2, while the foreign demand elasticity for Canadian exports equals 0.3. Responding to a trade deficit, suppose the Canadian dollar depreciates by 20 percent. For Canada, the depreciation would l