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1、1、“National avig can beused domesticlly oriteratonall.”Exln thebassfothis Aners: Svingcan beused to make invesmnts.he country c se its ational sain t mak dometirel inestmes inewproducion capital (uilding， machinryand oare), in nw housing,an in adtins t invntores，or i ca use its national avng nvestin
2、forei fiancilassets. If it ses ts natioa ang ke omtic alvestmen, bfits tothenn inc he incases in produtioncapacity n capbitis thatrsut rmnew productioncapital and e husing evices hafow fr a lagr stcof hsing. If it uss tnatonal sai toake forig investment, nes t the nation nlude hediviends,interestpay
3、ments, dcapital gns that t erns n its freign invements， whic add ottonalinmo contry in thefture.2 “Fora cont thata srpus in its currn ccot a wants o redce ti surplus, oneAnswrs: Disage.A sit to savingmore ould nd t icrease th surplus, nt rduce it. Thecren acont alance equl et forign investens,dnet f
4、eign vestmet isth difrece etweennational sing and detic relnvesment f natona sing inceses, thnnt forig invetment tento ncreaes, and tcurrent account balace tends to increase (t surplus tend to increase).3. What arethe ajortye of transations oractivie tht rlt n suppl offorignurnc n Answrs: Iports o g
5、ods d viceseltin dmnd o oe urrencyin t freign exchnemark. omestc buers oftn wa to pay uingdomest urny, wile te foeign ellers wanttoreevepaye inter urnc In proce of yi otee imports, domesic cuecys chaged for rign crren， rating demand or foin crn. Internonalcapta otlowsrst in a demand f oen curncy ith
6、eoregnehagemarket In mang invstmets in foreinfinancial asets,omesicvesors ote sat with oesticcrrency ad mst xcag it fr oinreny eoe they ca buy he foregn assets.Texchan ceatesdeand o forign currny.Foegn lsf ts outrysfinancialssetsthat the forgnes had prviusy cqurednd foreig borrogfo ths couny re othe
7、r frs o caia outflow thatcncreate dmad for oregn urency.4. A Btis banhas acued a large nuber ofdollrs in ts eingswithits clients. Answers: The Bi ak could use tenterank mrk to find aothr bank tat waswilling to buy dllars and ll ponds. heBriish ankcl searh direct th the bank for a good exchane rte or
8、the trnsaction, r it culd freig xhage broker to identify gd rate frm anoher bk Teriish ank houlbeable o el its olla to anoter bnqckly withver lw tansctions cost.5. Foan ivesmti a foreign-rency-enomine fianial asset， pat of thetn comes Anws: Age. As an investo， Ithink ofmy ath ad rtrns froinvestets i
9、ner fmoncurecyWhenIst a forign-currencdnominated fiancil ast， a(actua oreffectively）buyingboth the reign crec nhe asset，Parto my ovrall ruoes from the rtun o theset itself-fornsance, the yied or rate ineres tht i pays The otherprt o m turn om frm angi t exchngertevaueof foren currn. Ifte reig urency
10、 incease invle (rtive my wn curecy)while a hldinte reig ass,hevaue o my netment (in erms of myowncurrency)inceaes,n hae ae a additonl etrn n myinvetmet (fcourse,if the xchaeaevalue ofthe foreigcurencyes dn， I ake los on t currencyvae， wic reds mvralleturn.)6、Wts the ifferencebetween a lean floatd ma
11、naged foat? nswes: In te clean ot， the goenet allow th exhan-re alueof its cncytbedermined soel y prive (rnonffiial) sppy ademand in the fregn echangemket, the ovenmet kesno drect tions to inuenceexhnerates. In a mnage float, the govrnmnt iswlling t nd soetmes do take direct actns to attempt to inlu
12、ence te cag-rtelu f iscurency. ornstae, the monetary authortieso e countma somms intvne in e ake, buyinor ellin reign urrency (inexge odoesiccurren)n an efor o influence the level orrnd othe loatingehan rte.7. A oernnt h just impsd total eof xcange Anser: heexhange onrl are itnded o retrai th exs prate mand r freigurrny (he ue f the downard pressur on he echaerte vaueo thecourys ren).Thus， som people who wn toobai foreign curnc, and who wud bwilln py ore tha
