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1、Chapter 03Balance of PaymentsTrue/False Questions1.Over half of all dollar bills in circulation are held outside Americans borders.True FalseMultiple Choice Questions2.The current account balance,which is the difference between a countrys exports and imports,is a component of the countrys GNP.Other
2、components of GNP includeA.consumption and investment and government expenditure.B.consumption and government expenditure and net exports.C.consumption and net exports and government expenditure.D.consumption less imports.3.If the United States imports more than it exports,then this means thatA.the
3、supply of dollars is likely to exceed the demand in the foreign exchange market,ceterisparibus.B.the demand for dollars is likely to exceed the supply in the foreign exchange market,ceterisparibus.C.the U.S.dollar would be under pressure to appreciate against other currencies.D.both b)and c)are corr
4、ect4.Balance of paymentsA.is defined as the statistical record of a countrys international transactions over a certainperiod of time presented in the form of a double-entry bookkeeping.B.provides detailed information concerning the demand and supply of a countrys currency.C.can be used to evaluate t
5、he performance of a country in international economic competition.D.all of the above5.If a country is grappling with a major balance-of-payment difficulty,it may not be able toexpand imports from the outside world.Instead,the country may be tempted toA.impose measures to restrict imports.B.impose me
6、asures to discourage capital outflows.C.Both a)and b)D.None of the above6.If the United States imports more than it exports,thenA.the supply of dollars is likely to exceed the demand in the foreign exchange market,ceterisparibus.B.one can infer that the U.S.dollar would be under pressure to deprecia
7、te against othercurrencies.C.a)and b)D.None of the above7.Generally speaking,any transaction that results in a receipt from foreignersA.will be recorded as a debit,with a negative sign,in the U.S.balance of payments.B.will be recorded as a debit,with a positive sign,in the U.S.balance of payments.C.
8、will be recorded as a credit,with a negative sign,in the U.S.balance of payments.D.will be recorded as a credit,with a positive sign,in the U.S.balance of payments.8.Generally speaking,any transaction that results in a payment to foreignersA.will be recorded as a debit,with a negative sign,in the U.
9、S.balance of payments.B.will be recorded as a debit,with a positive sign,in the U.S.balance of payments.C.will be recorded as a credit,with a negative sign,in the U.S.balance of payments.D.will be recorded as a credit,with a positive sign,in the U.S.balance of payments.9.If Japan exports more than i
10、t imports,thenA.the supply of dollars is likely to exceed the demand in the foreign exchange market,ceterisparibus.B.one can infer that the yen would be likely to appreciate against other currencies.C.a)and b)D.None of the above10.The balance of payments recordsA.only international trade,(exports an
11、d imports).B.only cross-border investments(FDI and portfolio investment).C.not only international trade,(exports and imports)but also cross-border investments.D.none of the above11.Credit entries in the U.S.balance of paymentsA.result from foreign sales of U.S.goods and services,goodwill,financial c
12、laims,and realassets.B.result from U.S.purchases of foreign goods and services,goodwill,financial claims,and realassets.C.give rise to the demand fbr dollars.D.give rise to the supply of dollars.E.both a)and c)12.A country experiencing a significant balance-of-payments surplus would be likely toA.ex
13、pand imports,offering marketing opportunities for foreign enterprises.B.refrain from imposing foreign exchange restrictions.C.expand exports,offering international marketing opportunities for domestic enterprises.D.Both a)and b)13.Suppose the McDonalds Corporation imports Canadian beef,paying fbr it
14、 by transferringthe funds to a New York bank account kept by the Canadian Beef producer.A.Payment by McDonalds will be recorded as a debit.B.The deposit of the funds by the seller will be recorded as a debit.C.Payment by McDonalds will be recorded as a credit.D.The deposit of the funds by the buyer
15、will be credit.14.Since the balance of payments is presented as a system of double-entry bookkeeping,A.every credit in the account is balanced by a matching debit.B.every debit in the account is balanced by a matching credit.C.answers a)and b)are both trueD.none of the above15.Suppose the InBev Corp
16、oration(a non-U.S.MNC)buys the Anheuser-Busch Corporation,paying the U.S.shareholders cash.A.Payment by InBev will be recorded as a debit.B.The deposit of the funds by the sellers will be recorded as a debit.C.Payment by InBev will be recorded as a credit.D.The deposit of the funds by the buyer will be credit.16.The current account includesA.the export and import of goods and services.B.all purchases and sales of assets such as stocks,bonds,bank accounts,real estate,andbusinesses.C.all purchases
