国际金融题库第20章.docVIP

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International Economics, 10e Global Edition (Krugman/Obstfeld/Melitz) Chapter 20 Financial Globalization: Opportunity and Crisis 20.1 The International Capital Market and the Gains from Trade 1. If you are offered a gamble in which you win 500 dollars 3/8 of the time and you lose 500 dollars 5/8 of the time, what is your expected payoff and your behavior given that you are a risk-lover? A) $500, decline the gamble B) $500, take the gamble C) -$125, it is unclear what you would do without further information D) -$125, take the gamble E) -$125, decline the gamble Answer: C Page Ref: 629-634 Difficulty: Easy 2. The two types of trade, intertemporal and pure asset swap ________ perfect substitutes, because ________. A) are not; asset swapping never relates to intertemporal trade B) could possibly be; different economic states occur at different points in time C) are not; asset swapping is immediate and involves only assets, while intertemporal trade takes two time periods and involves both assets and goods/services D) are; they both offer considerable payoff and are equal in the long run E) are; they both involve the smoothing out of now and future consumption Answer: B Page Ref: 629-634 Difficulty: Easy 3. For the following question assume the following facts: (1) Balance of Payments = 0 prior to the transactions. (2) Person A (who lives in the United States) purchases an airplane from British Airways for $150,000. (3) Person A pays with a check from his account at First Union Bank in the United States. (4) British airways, since it will need dollars in 1 month, deposits the check at the Bank of England. (5) Bank of England deposits the $150,000 at Commonwealth bank, which is located in the United States. Due to the transactions above, what are the effects on the balance of payments? A) -$150,000 due to deposit of Bank of England (capital account debit) B) +$150,000 due to import of good (c

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