2020 Economics of Money and Finance(Central University of Finance and Economics) 最新满分章节测试答案

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本课程起止时间为:2020-11-02到2021-03-07

Lecture 1 Introduction Chapter Test

1、 问题:The biggest shortage of funds in the modern economic system is from the sector of ().
选项：
A:Enterprises
B:Residents
C:Government
D:Financial institutions 
答案: 【Enterprises】

2、 问题:The company’s debt management is mainly reflected in (). 
选项：
A:Financing decision and management
B:Business strategy
C:Financial policy
D: Risk management
答案: 【Financing decision and management】

3、 问题:The balance between surplus and deficit of different economic sectors by means of ().
选项：
A: Financial activities
B:Financial activities
C:Business activities
D:Economic activities 
答案: 【 Financial activities】

4、 问题:The item that reflects the bank’s credit financing in the company’s financial statements is ().
选项：
A: Short-term loans
B:Monetary funds
C:Accounts payable
D:Accounts receivable
答案: 【 Short-term loans】

5、 问题:The funds flow statement reflects  financial activities of various economic entities and their () (what kind of relationship) with each other. 
选项：
A:Balance
B:Imbalance
C:Equivalence 
D:Opposition
答案: 【Balance】

6、 问题:Residents’ deficits can be compensated by ().
选项：
A:Consumer loans
B:Purchase bonds 
C:Issuing shares
D:Purchase insurance 
答案: 【Consumer loans】

7、 问题:It is () that reflects the financial activities of various economic sectors and their balanced relationship with each other. 
选项：
A:Funds flow statement
B: Balance sheet
C:Credit structure table of financial institutions
D:Cash flow statement
答案: 【Funds flow statement】

8、 问题: Which of the followings could reflect the company’s operating performance () 
选项：
A:Income statement
B:Balance sheet
C:Cash flow statement
D:Balanced scorecard
答案: 【Income statement】

9、 问题:The main international payment item is ()
选项：
A:International trade in goods and services 
B:Capital flows 
C:Government assistance
D:Wealth transfer
答案: 【International trade in goods and services 】

10、 问题:The purpose of financial supervision does not include () 
选项：
A:Achieving economic growth
B:Reduce financial risk
C:Maintain financial order
D:Protect the public benefits
答案: 【Achieving economic growth】

11、 问题:To meet the capital needs of their own production and operation activities, enterprises can achieve this through debt activities.
选项：
A:External financing
B:Endogenous financing 
C:Governance structure adjustment 
D:Ownership adjustment
答案: 【External financing】

12、 问题:The comprehensive financial statement reflecting the economic assets, economic debts and equity held by accounting entities on a specific date is ().
选项：
A:Balance sheet
B:Income statement
C:Cash flow statement
D:Performance assessment form
答案: 【Balance sheet】

13、 问题:At present, the most common channel for China’s non-financial enterprise sector to integrate funds from other economic sectors is (). 
选项：
A:Bank loan
B:Issuing shares
C:Issuing bonds 
D:Issuing notes 
答案: 【Bank loan】

14、 问题:The following statement is wrong ().
选项：
A:Financial revenue and expenditure are reflected in kind.
B:Fiscal revenue and expenditure need to be realized through the financial system.
C:Fiscal revenue and expenditure have a great influence on the central bank. 
D:Fiscal revenue and expenditure affect the financial activities of various sectors.
答案: 【Financial revenue and expenditure are reflected in kind.】

15、 问题:The composition of sectors in closed economy includes: 
选项：
A:Residents
B:Non-financial enterprises
C:Financial institutions 
D:Government 
E: Foreign companies
F:Overseas agencies
G:Overseas companies
答案: 【Residents;
Non-financial enterprises;
Financial institutions ;
Government 】

16、 问题:The external financial activities of the open sector are mainly reflected in ().
选项：
A:International settlement
B:Financing
C:Direct investment in industry
D:Pure financial investment
E: Imported goods 
F:Export commodities
G:Labor export
答案: 【International settlement;
Financing;
Direct investment in industry;
Pure financial investment】

17、 问题:In the modern economic life of residents, which of the following financial management activities constitute an important part of modern financial supply and demand?
选项：
A:Daily income
B:Expenditure activities
C: Saving investment
D:Borrowing
E:Pay taxes
答案: 【Daily income;
Expenditure activities;
 Saving investment;
Borrowing】

18、 问题:The services and tools provided by the banks to satisfy the residents’ payment are: () 
选项：
A:Transfer 
B:Check
C:Credit card
D:Bonds
E:Stocks
答案: 【Transfer ;
Check;
Credit card】

19、 问题:Which of the following are the basic elements of the financial system: ( )
选项：
A: Currency
B:Exchange rate
C:Credit
D:Interest rate 
E:Financial instruments 
答案: 【 Currency;
Exchange rate;
Credit;
Interest rate ;
Financial instruments 】

20、 问题:Ways to use government surplus are: () 
选项：
A:Repayment of debts due 
B: Increase government deposits 
C:Government investment 
D: Increase commercial bank deposits
E:Purchase of listed company stock
F:Dividend distribution 
答案: 【Repayment of debts due ;
 Increase government deposits ;
Government investment 】

21、 问题:Which of the followings are statistical indicators of financial aggregates:()
选项：
A:Total credit 
B: Insurance market size
C:Total currency
D: Total fiscal deficit
E:Gross national products
答案: 【Total credit ;
 Insurance market size;
Total currency】

22、 问题:The main method of using Chinese residents’ surplus is:()
选项：
A:Cash savings
B:Savings deposit
C:Financial investment
D:Investment in kind
E:Consumption
答案: 【Cash savings;
Savings deposit;
Financial investment;
Investment in kind】

23、 问题:Among the corporate assets, there are directly represented as financial assets () .
选项：
A:Monetary funds
B:Short-term investment 
C:Long-term investment
D:Inventory
E:Accounts payable
答案: 【Monetary funds;
Short-term investment ;
Long-term investment】

24、 问题:The financial services provided by banks to enterprises mainly include () 
选项：
A:Deposit business 
B: Loan business
C:Liquidation of funds
D:Consumer loans
E:Stock issue
答案: 【Deposit business ;
 Loan business;
Liquidation of funds】

25、 问题:Broad financial markets include () 
选项：
A: Credit market
B:Capital market
C: Money market
D:Gold market
E:Derivative financial instruments market
F: Real estate market
G:Coin stamp market
答案: 【 Credit market;
Capital market;
 Money market;
Gold market;
Derivative financial instruments market】

26、 问题:Which of the following are international direct investment () 
选项：
A:Foreign companies establish new companies in their countries through cooperation 
B:Acquire equity in foreign companies and become the absolute largest shareholder
C:Continue to invest the profits of previous investment in foreign companies 
D:Technical support for foreign companies 
E:Residents purchase bonds issued by foreign companies in the domestic financial market 
答案: 【Foreign companies establish new companies in their countries through cooperation ;
Acquire equity in foreign companies and become the absolute largest shareholder;
Continue to invest the profits of previous investment in foreign companies 】

27、 问题:The basic elements of the modern financial system are () 
选项：
A:Currency and monetary system 
B:Exchange rate
C:Credit and credit system
D:Interest rate 
E:Financial instruments
F:Enterprise
G:Residents 
H: Government
答案: 【Currency and monetary system ;
Exchange rate;
Credit and credit system;
Interest rate ;
Financial instruments】

28、 问题:What does the owner’s equity of the enterprise include? 
选项：
A:Provident fund 
B:Undistributed profits
C:Enterprise paid-in capital 
D:Revenue from sales 
答案: 【Provident fund ;
Undistributed profits;
Enterprise paid-in capital 】

29、 问题:The external borrowing of enterprises includes ()
选项：
A:Bank loan 
B: Issuing bonds 
C:Inter-enterprise liabilities
D:Withdraw depreciation fund 
答案: 【Bank loan ;
 Issuing bonds ;
Inter-enterprise liabilities】

30、 问题:Which of the following does government credit include () 
选项：
A:Issuing government bonds in the international financial market
B:Borrowing from another country
C:Issuing Government bond
D:Increase taxes 
E:Issuing shares
答案: 【Issuing government bonds in the international financial market;
Borrowing from another country;
Issuing Government bond】

31、 问题:Trade financing is a financing method provided by financial institutions to importers or exporters related to import and export trade, including ()
选项：
A:Short-term financing
B: Credit facility
C:Long-term financing
D:Tax convenience
答案: 【Short-term financing;
 Credit facility】

32、 问题:Financial aggregate refers to the total scale of the entire financial system. What are the statistical indicators for measuring financial aggregate? 
选项：
A:Total currency
B:Total credit
C: Total securities
D:Total insurance
答案: 【Total currency;
Total credit;
 Total securities;
Total insurance】

33、 问题:Trade financing refers to financial institutions’ provision of import and export trade related to import and export trade settlement (). 
选项：
A:Short-term financing
B:Credit facility
C:Long-term financing 
D:Credit guarantee
E: Finance lease
答案: 【Short-term financing;
Credit facility】

34、 问题:The functions of the financial market mainly include ().
选项：
A:Meeting investment and financing needs
B:Resource allocation
C:Information concentration and management 
D:Price discovery 
E:Risk management
答案: 【Meeting investment and financing needs;
Resource allocation;
Information concentration and management ;
Price discovery ;
Risk management】

35、 问题: The financial system has become the most important carrier in the continuous currency income and expenditure process of the residential sector.
选项：
A:正确
B:错误
答案: 【正确】

36、 问题:The choice of household expenditure patterns will not cause changes in the macro currency structure. 
选项：
A:正确
B:错误
答案: 【错误】

37、 问题:Changes in the market value of the stock market are closely related to the stock market price index.
选项：
A:正确
B:错误
答案: 【正确】

38、 问题:Financial supply and demand and their transactions stem from the economic activities of various sectors of society.
选项：
A:正确
B:错误
答案: 【正确】

39、 问题:Consumer credit and private lending are not only ways to make up for the residents ‘deficits, but also products of residents’ inter-period financial management. 
选项：
A:正确
B:错误
答案: 【正确】

40、 问题:Capital flows caused by international investment need to be attached to real goods or labor transactions.
选项：
A:正确
B:错误
答案: 【错误】

41、 问题: Finance originates from socio-economic activities and serves socio-economic activities.
选项：
A:正确
B:错误
答案: 【正确】

42、 问题:The surplus of an enterprise belongs to all shareholders and creditors. 
选项：
A:正确
B:错误
答案: 【错误】

43、 问题:International investment causes international capital flows. Whether it is an international direct investment or international indirect investment, it is essentially the cross-border flow of international capital. 
选项：
A:正确
B:错误
答案: 【正确】

44、 问题: The modern financial system is a high-risk organizational system that requires appropriate government regulation and reasonable supervision.
选项：
A:正确
B:错误
答案: 【正确】

45、 问题:In the balance of payments, international trade receipts are included in current accounts, and international investment is included in capital accounts.
选项：
A:正确
B:错误
答案: 【正确】

46、 问题:The modern financial system takes currency, credit, exchange rate, interest rate and financial instruments as its basic elements. 
选项：
A:正确
B:错误
答案: 【正确】

47、 问题:Issuing government bonds is the most commonly used and most common way of raising funds in modern finance.
选项：
A:正确
B:错误
答案: 【正确】

48、 问题: In open economic activities, international settlement refers to the monetary collection and payment of international claims and debts. 
选项：
A:正确
B:错误
答案: 【正确】

49、 问题:Bills, stocks and bonds issued by enterprises are the most important trading instruments in the financial market.
选项：
A:正确
B:错误
答案: 【正确】

50、 问题:Not allocating and accumulating surpluses is a major way for enterprises to endogenously finance.
选项：
A:正确
B:错误
答案: 【正确】

51、 问题:In order to ensure the security of payment, financial instruments such as letters of credit and guarantees came into being.
选项：
A:正确
B:错误
答案: 【正确】

52、 问题:The basic elements of the modern financial system are currency, credit, interest rate, exchange rate, and financial instruments.
选项：
A:正确
B:错误
答案: 【正确】

53、 问题:Residents’ monetary surplus needs to be covered by consumer credit or private credit. Residents’ deficits are the prerequisite for their monetary savings and investment. 
选项：
A:正确
B:错误
答案: 【错误】

54、 问题:Consumer credit refers to the credit method for residents to apply for credit sales or installment payments to sellers or to apply for consumer loans to financial institutions such as commercial banks to meet their own consumer demand. 
选项：
A:正确
B:错误
答案: 【正确】

55、 问题:Various taxes paid by enterprises are the main source of fiscal revenue. 
选项：
A:正确
B:错误
答案: 【正确】

56、 问题:If residents prefer to hold investment financial assets such as stocks and bonds, a financial structure with indirect financing as the main body will be formed.
选项：
A:正确
B:错误
答案: 【错误】

57、 问题:Government bond combines virtues of safety, liquidity, and profitability. 
选项：
A:正确
B:错误
答案: 【正确】

Lecture 2 Money and monetary system Chapter test

1、 问题:The dollar is pegged to gold, and other countries’ money are pegged to the dollar. 
选项：
A:Bretton Woods System 
B:International gold standard
C:Jamaica System 
D:International Bullion Standard 
答案: 【Bretton Woods System 】

2、 问题:The role of money that does not cause the demand for money is  (      ).
选项：
A:Standard of value
B:Means of exchange
C:Means of payment
D:Store of value
答案: 【Standard of value】

3、 问题:The correct statement about the gold exchange standard is (   ). 
选项：
A:Currency Symbols in circulation exchange bullion through foreign exchange 
B: Use of gold coins in circulation
C:Gold bullion in circulation
D: Direct exchange of gold bullion for currency symbols in circulation
答案: 【Currency Symbols in circulation exchange bullion through foreign exchange 】

4、 问题:At present, all countries in the world implement (    ). 
选项：
A:Non-convertible fiat monetary system
B:Gold-silver bimetallic standard
C:Gold bullion standard 
D:Gold exchange standard 
答案: 【Non-convertible fiat monetary system】

5、 问题:The monetary system environment in which the phenomenon of "bad money expelling good money" occurs is (      ). 
选项：
A:Gold-silver bimetallic standard
B:Gold specie standard 
C:Silver Standard
D:Gold Exchange Standard
答案: 【Gold-silver bimetallic standard】

6、 问题:The main basis for the division of monetary aggregates hierarchy in various countries is (    ). 
选项：
A:Liquidity of financial assets
B:Importance of financial assets
C:Value of financial assets
D:Types of financial assets
答案: 【Liquidity of financial assets】

7、 问题:The way in which a money performs the role of standard of value is (    ). 
选项：
A:Price tags on commodities
B:Taxes
C:Payment of rent
D:Payment of wages
答案: 【Price tags on commodities】

8、 问题:The bad money in the law of bad money expelling good money refers to (     ).
选项：
A:A money whose nominal value is higher than its real value
B:A money whose nominal value is lower than their real value
C:Money with no nominal value
D:Money with no real value
答案: 【A money whose nominal value is higher than its real value】

9、 问题:The correct statement about the monetary aggregates hierarchy is (      ). 
选项：
A:The most liquid money is cash
B:Bank deposits are highly liquid
C:Quasi money is money that can be used directly to buy goods
D:Broad money is more liquid than narrow money
答案: 【The most liquid money is cash】

10、 问题:Activities of the money as a means of payment include (  ) 
选项：
A:Credit receipts and payments
B:Fiscal revenue and expenditure
C:Payroll
D:Income and expenditure on services
E:Donations
F:Indemnification
G:Price of tags on commodities
答案: 【Credit receipts and payments;
Fiscal revenue and expenditure;
Payroll;
Income and expenditure on services;
Donations;
Indemnification】

11、 问题:The correct statement about the monetary aggregates hierarchy is (     ).
选项：
A:The more liquid, the smaller the range of money included.
B:The content of each monetary aggregates hierarchy is different in different countries.
C:The monetary aggregates hierarchy is not fixed.
D:The division and measurement of monetary aggregates can only reflect the current status to a certain extent. 
E:The weaker the liquidity, the smaller the range of money included. 
答案: 【The more liquid, the smaller the range of money included.;
The content of each monetary aggregates hierarchy is different in different countries.;
The monetary aggregates hierarchy is not fixed.;
The division and measurement of monetary aggregates can only reflect the current status to a certain extent. 】

12、 问题: The main contents of the national monetary system are (    ).
选项：
A:Regulate money materials
B:Regulate monetary unit
C:Regulate types of money in circulation
D:Regulate the legal capacity to pay
E:Regulate the circulation procedures for money issuance
F:Regulate the money issuance preparation system
答案: 【Regulate money materials;
Regulate monetary unit;
Regulate types of money in circulation;
Regulate the legal capacity to pay;
Regulate the circulation procedures for money issuance;
Regulate the money issuance preparation system】

13、 问题:The characteristics of the international gold standard are (   ).
选项：
A:a fixed exchange rate
B:Free import and export of gold
C:Exchange rates fluctuate around gold parity
D:The balance of payments has an automatic adjustment mechanism
E:Floating exchange rates
答案: 【a fixed exchange rate;
Free import and export of gold;
Exchange rates fluctuate around gold parity;
The balance of payments has an automatic adjustment mechanism】

14、 问题:Financial assets include (       ). 
选项：
A:Stocks
B:Bonds
C:Contract of Insurance
D:Foreign exchange
E:Deposits
F:Cash
G:Gold and Jewelry 
H:Consumer durables
答案: 【Stocks;
Bonds;
Contract of Insurance;
Foreign exchange;
Deposits;
Cash】

15、 问题:The contents of the international monetary system should include (    ). 
选项：
A:What money is used as the international money of payment
B:Which assets can be used as international reserve assets
C:Which exchange rate system to use 
D:What measures should governments take to compensate for imbalances in the balance of payments
E:How policy measures are coordinated across countries in the event of a balance-of-payments imbalance
F:Regulate monetary unit
G:Regulate types of money in circulation
答案: 【What money is used as the international money of payment;
Which assets can be used as international reserve assets;
Which exchange rate system to use ;
What measures should governments take to compensate for imbalances in the balance of payments;
How policy measures are coordinated across countries in the event of a balance-of-payments imbalance】

16、 问题:The Bretton Woods system is characterized by (    ).
选项：
A:Gold is pegged to the US dollar
B:a fixed exchange rate system
C:Gold as an international liquidity of last resort
D:Exchange rates fluctuate around gold parity
E:Diversification of exchange rate arrangements
F:The balance of payments has an automatic adjustment mechanism 
答案: 【Gold is pegged to the US dollar;
a fixed exchange rate system】

17、 问题:Fiat money includes (   ).
选项：
A:Paper money 
B:Banknotes
C:Deposit currency 
D:Commodity money
E:Metallic money
答案: 【Paper money ;
Banknotes;
Deposit currency 】

18、 问题:Money materials should generally have the nature of (    )
选项：
A:High value 
B:Easy to divisible
C:Easy to storable
D:Portable
E:Lower cost
答案: 【High value ;
Easy to divisible;
Easy to storable;
Portable】

19、 问题:In general, changes in the monetary aggregates hierarchy have the following (     ) characteristics.
选项：
A:As liquidity wanes, the inclusion of money widens 
B:The faster the speed of financial product innovation, the more frequent the change of stratification
C:As liquidity wanes, the currency universe shrinks
D:The faster the speed of financial product innovation, the less the change of stratification 
E:Financial products with the same name belong to the same money aggregates hierarchy in different countries
答案: 【As liquidity wanes, the inclusion of money widens ;
The faster the speed of financial product innovation, the more frequent the change of stratification】

20、 问题:The correct understanding of the monetary aggregates hierarchy in China is (       ).
选项：
A: M0 = currency in circulation
B:M1 = M0 + Demand Deposit
C:M2 = M1 + Quasi money
D:Quasi money includes fixed deposits of enterprise,savings deposits,customer margin deposits of securities companies,other deposits. 
E:M0 = currency in circulation + demand deposit
答案: 【 M0 = currency in circulation;
M1 = M0 + Demand Deposit;
M2 = M1 + Quasi money;
Quasi money includes fixed deposits of enterprise,savings deposits,customer margin deposits of securities companies,other deposits. 】

21、 问题:The main elements of the Jamaica Accords include (     ).
选项：
A:Diversification of international reserve assets.
B:Diversification of exchange rate arrangements.
C:A variety of channels regulate the balance of payments.
D:With gold as the basis and the US dollar as the main international reserve assets, the international monetary system of "double linkage" is implemented. 
E:A fixed exchange rate system.
答案: 【Diversification of international reserve assets.;
Diversification of exchange rate arrangements.;
A variety of channels regulate the balance of payments.】

22、 问题:The monetary aggregates hierarchy of the IMF includes (     ). 
选项：
A:Broad money
B:Total liquidity
C: Narrow money
D:M1
E:M2
F:M3 
答案: 【Broad money;
Total liquidity】

23、 问题:At present, Japan’s monetary aggregates hierarchy is divided into (     ).
选项：
A:Total liquidity
B:M1
C:M2 
D:M3
E:Narrow money
F:Broad money
答案: 【Total liquidity;
M1;
M2 ;
M3】

24、 问题:The monetary aggregates hierarchy in the eurozone is (    ). 
选项：
A:M1 
B:M2
C:M3
D:Narrow money
E:Broad money
F:Total liquidity
答案: 【M1 ;
M2;
M3】

25、 问题:At present, the monetary aggregates hierarchy of the United States is divided into (       ). 
选项：
A:M1 
B:M2
C:M3
D: Narrow money
E:Broad money
F:Total liquidity
答案: 【M1 ;
M2】

26、 问题:The characteristics of the gold specie standard are (   ).
选项：
A:Gold can be free coinage
B:Gold unlimited legal tender 
C:Gold can be freely exported and imported into the country
D: Gold restricted coinage
E:Gold limited legal tender
答案: 【Gold can be free coinage;
Gold unlimited legal tender ;
Gold can be freely exported and imported into the country】

27、 问题:The characteristics of the gold specie standard are (   ).
选项：
A:Gold can be free coinage
B:Gold is demonetized
C:The fiat money is monopolized by the monetary authority
D:It is a flexible monetary system
E:The fiat money can be freely converted into gold 
答案: 【Gold is demonetized;
The fiat money is monopolized by the monetary authority;
It is a flexible monetary system】

28、 问题:Gold-silver bimetallic standard means that gold coins are the standard money, which can be free coinage and have unlimited legal tender; Silver coins are fractional money, restricted coinage, limited legal tender.
选项：
A:正确
B:错误
答案: 【错误】

29、 问题: If the US dollar wants to meet the demand for international reserves, it will cause a deficit in the balance of payments of the United States, which will inevitably affect the credit of the US dollar and cause a crisis of the US dollar; If we want to keep the balance of international payments of the United States and stabilize the dollar, it will cut off the source of international reserves and lead to the shortage of international liquidity, which is called "Gresham’s Law". 
选项：
A:正确
B:错误
答案: 【错误】

30、 问题:According to the division of monetary levels in China, the liquidity of cash in circulation is the same as that of demand deposits.
选项：
A:正确
B:错误
答案: 【错误】

31、 问题:The main difference between the metallic monetary system and the fiat monetary system is only in the aspect of money material.
选项：
A:正确
B:错误
答案: 【错误】

32、 问题:Gold-silver bimetallic standard is a stable monetary system. 
选项：
A:正确
B:错误
答案: 【错误】

33、 问题:In the Bretton Woods system, the dollar was linked to gold, and the exchange rate fluctuated around the export point of gold.
选项：
A:正确
B:错误
答案: 【错误】

34、 问题:Quasi-money reflects the potential purchasing power of the whole society.
选项：
A:正确
B:错误
答案: 【正确】

35、 问题:The emergence of money separates the process of exchange into two links of buying and selling, which makes it possible for the disconnection of commodity trading and the imbalance of supply and demand. 
选项：
A:正确
B:错误
答案: 【正确】

36、 问题:Money stock is expressed as the product of the velocity of money and cash and deposit money in a certain period of time (such as a year). 
选项：
A:正确
B:错误
答案: 【错误】

37、 问题:Money stock refers to the money balance held by each economic entity at a certain point in time. 
选项：
A:正确
B:错误
答案: 【正确】

38、 问题:The international gold standard and the Bretton Woods system all belong to the fixed exchange rate system.
选项：
A:正确
B:错误
答案: 【正确】

39、 问题:The roles of money that can cause money demand include: means of exchange, standard of value, means of payment.
选项：
A:正确
B:错误
答案: 【错误】

40、 问题:According to the current division of China’s monetary aggregates hierarchy, all kinds of bank deposits have the same liquidity.
选项：
A:正确
B:错误
答案: 【错误】

41、 问题:In the division of monetary aggregates hierarchy in China, all kinds of bank deposits are divided into quasi money. 
选项：
A:正确
B:错误
答案: 【错误】

42、 问题:In China’s monetary aggregates hierarchy, demand deposits in M1 include enterprise demand deposits and savings deposits.
选项：
A:正确
B:错误
答案: 【错误】

43、 问题:In China’s monetary aggregates hierarchy, customer margin deposits of securities companies belong to quasi-money. 
选项：
A:正确
B:错误
答案: 【正确】

44、 问题:In China’s monetary aggregates hierarchy, savings demand deposits belong to M1, and the savings time deposits belong to quasi-money.
选项：
A:正确
B:错误
答案: 【错误】

45、 问题:The stability of the gold specie standard is shown as: the nominal value of the standard money is consistent with the real value.
选项：
A:正确
B:错误
答案: 【正确】

46、 问题:The stability of the gold specie standard is shown as: the domestic value of the standard money is consistent with the international value. 
选项：
A:正确
B:错误
答案: 【正确】

47、 问题:The stability of gold specie standard is shown as: the value represented by money symbol is consistent with the value of standard money. 
选项：
A:正确
B:错误
答案: 【正确】

48、 问题:"Triffin Dilemma" shows that under the Jamaica Accords, the US dollar can’t play a role as the only international currency. 
选项：
A:正确
B:错误
答案: 【错误】

49、 问题:At present, IMF divides the monetary aggregates hierarchy into narrow money, broad money and total liquidity.
选项：
A:正确
B:错误
答案: 【错误】

50、 问题:At present, the monetary aggregates hierarchy of Britain includes narrow money, broad money and total liquidity.
选项：
A:正确
B:错误
答案: 【错误】

51、 问题:At present, Japan’s monetary aggregates hierarchy includes narrow money, broad money and total liquidity.
选项：
A:正确
B:错误
答案: 【错误】

52、 问题:At present, the monetary aggregates hierarchy of Euro includes narrow money, broad money and total liquidity.
选项：
A:正确
B:错误
答案: 【错误】

53、 问题: The standard of value and the means of payment will trigger the demand for money. 
选项：
A:正确
B:错误
答案: 【错误】

54、 问题:The medium of exchange and store of value give rise to the demand for money. 
选项：
A:正确
B:错误
答案: 【正确】

55、 问题:The means of payment and store of value can lead to the demand for money. 
选项：
A:正确
B:错误
答案: 【正确】

56、 问题:Under the condition of metallic monetary system, all the money in circulation is metal coins.
选项：
A:正确
B:错误
答案: 【错误】

57、 问题:Under the condition of gold specie standard, gold can be freely exported and imported into the country.
选项：
A:正确
B:错误
答案: 【正确】

58、 问题:Under the condition of gold bullion standard, the state stipulates that gold is monetary material, but gold are not circulated or minted in the country.
选项：
A:正确
B:错误
答案: 【正确】

59、 问题:Under the condition of gold exchange standard, the state stipulates that gold is monetary material, but gold are not circulated or minted in the country.
选项：
A:正确
B:错误
答案: 【正确】

60、 问题:Under the condition of non-convertible fiat monetary system, gold is demonetized. Money in circulation is a credit instrument, including cash, deposit money, and electronic money.
选项：
A:正确
B:错误
答案: 【正确】

Lecture 3 Exchange rate and exchange rate system Chapter test

1、 问题:Foreign exchange in the dynamic sense refers to ().
选项：
A:international clearing activities and practices
B:the generation of foreign exchange
C:transfer of foreign exchange
D:foreign exchange reserves
答案: 【international clearing activities and practices】

2、 问题:Foreign exchange banks buy foreign banknotes at a price that is ( ) than the spot selling price.
选项：
A:cheaper
B:a few more expensive
C:the same
D:equal to the exchange rate
答案: 【cheaper】

3、 问题:SDRs means ().
选项：
A:reserve assets and unit of account created by IMF
B:currency created by the European Economic Monetary Union
C:the central currency of the European Monetary System
D:a special right to use funds created by the World Bank
答案: 【reserve assets and unit of account created by IMF】

4、 问题:Foreign exchange in the broad sense refers to all ( ) expressed in foreign currency.
选项：
A:financial assets
B:foreign exchange certificates of deposit
C:foreign cash
D:foreign currency securities
答案: 【financial assets】

5、 问题:The difference between the nominal exchange rate and the real exchange rate is mainly determined by ().
选项：
A:domestic interest rate
B:domestic and foreign interest rates
C:domestic prices
D:domestic and foreign prices
答案: 【domestic and foreign prices】

6、 问题:The main purpose of imposing controls on foreign exchange transactions is generally to ().
选项：
A:balance international payments, stabilize exchange rate 
B:restrict loans
C:restrict the illegal trade
D:prevent capital inflows
答案: 【balance international payments, stabilize exchange rate 】

7、 问题:The international lending theory holds that the reason why a country’s currency depreciates is because ().
选项：
A:current liabilities are greater than current claims
B:current claims are greater than current liabilities
C:there are more fixed claims than fixed debts
D:There are more fixed debts than fixed claims.
答案: 【current liabilities are greater than current claims】

8、 问题:According to the theory of purchasing power parity, a country’s long-term inflation will lead to its currency () without taking other factors into account.
选项：
A:devaluation
B:appreciation
C:unchanged
D:undecidable
答案: 【devaluation】

9、 问题:The middle rate is the arithmetic average of which two of the following exchange rates.
选项：
A:buying and selling exchange rates 
B:spot and forward exchange rates
C:official exchange rate and market exchange rate
D:opening and closing exchange rates
答案: 【buying and selling exchange rates 】

10、 问题:Which of the following currencies has a depreciating exchange rate and is sold off in the foreign exchange market?.
选项：
A:Soft currency
B:Non-convertible currency
C:Free foreign exchange
D:Hard currency
答案: 【Soft currency】

11、 问题:The theory that the rise of domestic interest rate will cause the devaluation of local currency is ()
选项：
A:theory of purchasing power parity
B:psychological theory of exchange
C:monetary approach
D:elasticity approach
答案: 【monetary approach】

12、 问题:The theory of purchasing power parity shows that the factors that determine the exchange rate of two currencies are ().
选项：
A:the purchasing power of money
B:prices of non-tradable goods
C:size of foreign exchange
D:interest rate
答案: 【the purchasing power of money】

13、 问题:According to the business hours of the foreign exchange bank, the exchange rate can be divided into（）
选项：
A:opening and closing exchange rates
B:buying and selling exchange rates
C:t/t rates, d/d rates and m/t rates
D:spot and forward exchange rates
答案: 【opening and closing exchange rates】

14、 问题:Under the direct quotation, the value of the exchange rate of the domestic currency against a foreign currency becomes larger and smaller, which means the domestic currency () respectively.
选项：
A:depreciation, appreciation
B:appreciation, depreciation
C:no relation
D:not sure
答案: 【depreciation, appreciation】

15、 问题:The arbitrageur conducts arbitrage transactions while conducting foreign exchange covering to prevent exchange rate risk is called().
选项：
A:covered arbitrage
B:speculation
C:hedging
D:swap trade
答案: 【covered arbitrage】

16、 问题:When a country has more current claims than current liabilities, i.e., more foreign exchange receivable than foreign exchange payable, then ().
选项：
A:the supply of foreign exchange exceeds the demand of foreign exchange, and the domestic currency appreciates
B:the supply of foreign exchange exceeds the demand of foreign exchange, and the local currency depreciates.
C:the supply of foreign exchange is less than the demand of foreign exchange, and the domestic currency appreciates.
D:the supply of foreign exchange is less than the demand of foreign exchange, and the local currency depreciates.
答案: 【the supply of foreign exchange exceeds the demand of foreign exchange, and the domestic currency appreciates】

17、 问题:The change in the exchange rate of a country’s currency over a certain period is mainly determined by the difference in the inflation rate between the country and the foreign country during this period. This is the view of which following theories ().
选项：
A:theory of relative purchasing power parity
B:theory of absolute purchasing power parity 
C:psychological theory of exchange
D:the theory of interest rate parity
答案: 【theory of relative purchasing power parity】

18、 问题:The monetary approach of exchange rate believes that ().
选项：
A:the relative supply and demand of currencies between two countries affect the exchange rate
B:only the interest rate of the country affects the exchange rate.
C:only one country’s total output affects the exchange rate.
D:it is mainly the expectation factor that influences the exchange rate.
答案: 【the relative supply and demand of currencies between two countries affect the exchange rate】

19、 问题:In order to maintain exchange rate stability, central banks often intervene in the foreign exchange market by buying and selling foreign exchange. When the local currency exchange rate (), they sell foreign exchange and withdraw local currency.
选项：
A:depreciates
B:appreciates
C:is fixed
D:none of the above
答案: 【depreciates】

20、 问题:The impact of national interest rate on the exchange rate is ( ).
选项：
A:up to compare factors such as foreign interest rate and domestic inflation rate.
B:rising interest rates, rising currencies
C:falling interest rates, falling currencies
D:falling interest rates and rising currencies
答案: 【up to compare factors such as foreign interest rate and domestic inflation rate.】

21、 问题:When the exchange rate of a country’s currency is continuously overvalued, it often appears ().
选项：
A:foreign exchange supply decreased, foreign exchange demand increased, balance of payments deficit
B:foreign exchange supply increased, foreign exchange demand decreased, balance of payments surplus
C:foreign exchange supply increased, foreign exchange demand decreased, balance of payments deficit
D:foreign exchange supply decreased, foreign exchange demand increased, balance of payments surplus
答案: 【foreign exchange supply decreased, foreign exchange demand increased, balance of payments deficit】

22、 问题:The impact of the appreciation of a country’s currency on its import and export revenue is ().
选项：
A:exports decrease, imports increase 
B:exports increase, imports decrease
C:exports increase, imports increase
D:exports decrease, imports decrease
答案: 【exports decrease, imports increase 】

23、 问题:The existence of two or more parity between one currency and another is called ().
选项：
A:multiple exchange rate
B:single exchange rate
C:market exchange rate
D:buying exchange rate
答案: 【multiple exchange rate】

24、 问题:Exchange rate fluctuations are limited by the cost of gold transportation, and the international balance of payments can be automatically adjusted. This monetary system is ().
选项：
A:international gold standard 
B:floating exchange rate system
C:Bretton Woods system
D:mixed standard system
答案: 【international gold standard 】

25、 问题:The feature of the international gold standard is that gold can ().
选项：
A:free casting, free exchange, free import and export
B:free casting, free exchange, free trading
C:free casting, free trading, free import and export
D:free exchange, free import and export, free circulation
答案: 【free casting, free exchange, free import and export】

26、 问题:Under the gold coin standard system, the limit of exchange rate fluctuation is ().
选项：
A:gold delivery point 
B:gold output point
C:gold input point
D:mint parity
答案: 【gold delivery point 】

27、 问题:The exchange rate system under the Bretton Woods System belongs to ().
选项：
A:adjustable fixed exchange rate system
B:floating exchange rate system
C:adjustable floating exchange rate system
D:joint floating exchange rate system
答案: 【adjustable fixed exchange rate system】

28、 问题:The Bretton Woods System is essentially a kind of ().
选项：
A:gold exchange standard system
B:gold bullion standard
C:credit money system
D:gold coin standard
答案: 【gold exchange standard system】

29、 问题:The fatal weakness that ultimately led to the disintegration of the Bretton Woods system was( ).
选项：
A:Triffin puzzle
B:USD double peg
C:asymmetry of rights and obligations
D:financial innovation
答案: 【Triffin puzzle】

30、 问题:If the exchange rate of a country’s currency is persistently and obviously undervalued, it will often lead to ().
选项：
A:increase in foreign exchange supply, decrease in foreign exchange demand, balance of payments surplus
B:decrease in foreign exchange supply, increase in foreign exchange demand, balance of payments deficit
C:increase in foreign exchange supply, decrease in foreign exchange demand, balance of payments deficit
D:decrease in foreign exchange supply, increase in foreign exchange demand, balance of payments surplus
答案: 【increase in foreign exchange supply, decrease in foreign exchange demand, balance of payments surplus】

31、 问题:If a country has a significant balance of payments deficit, it will generally make ().
选项：
A:demand for local currency decreases, local currency depreciated
B:demand for local currency increases, local currency appreciates
C:demand for local currency increases, local currency depreciates
D:demand for local currency decreases, local currency appreciates
答案: 【demand for local currency decreases, local currency depreciated】

32、 问题:When a country ’s current claims are less than current liabilities, i.e. foreign exchange receivables are less than foreign exchange payables, there will be（）
选项：
A:The supply of foreign exchange is less than the demand of foreign exchange, and the local currency depreciates.
B:The supply of foreign exchange exceeds the demand of foreign exchange, and the local currency depreciates.
C:The supply of foreign exchange is greater than the demand for foreign exchange.
D:The supply of foreign exchange is less than the demand of foreign exchange, and the domestic currency appreciates.
答案: 【The supply of foreign exchange is less than the demand of foreign exchange, and the local currency depreciates.】

33、 问题:Which theory is the view that the rise of domestic interest rate will cause the forward discount of local currency?
选项：
A:A. Purchasing power parity (PPP) theory
B:Elasticity theory
C:Theory of interest rate parity 
D:Monetary approach
答案: 【Theory of interest rate parity 】

34、 问题:Under the indirect quotation, the exchange rate of a local currency to a foreign currency becomes larger and smaller, which respectively means( ).
选项：
A:appreciation and depreciation of local currency
B:devaluation and appreciation of local currency
C:no relation
D:not sure
答案: 【appreciation and depreciation of local currency】

35、 问题:Compared with the purchase price of foreign currency cash, the price of foreign exchange banks to buy cash was ()?
选项：
A:more expensive
B:cheaper
C:the same
D:equal to the central exchange rate
答案: 【more expensive】

36、 问题:The price of foreign currency banks to buy foreign currency cash is ( ) than the purchase price of foreign currency.
选项：
A:cheaper
B:more expensive
C:the same
D:equal to the central exchange rate
答案: 【cheaper】

37、 问题:According to the theory of purchasing power parity, the main factors determining the appreciation or depreciation of a country’s exchange rate are ()
选项：
A:the difference between domestic and foreign inflation rates 
B:the difference between domestic and foreign interest rates
C:the difference between the growth rates of domestic and foreign economies
D:the difference between the gross domestic and foreign economies
答案: 【the difference between domestic and foreign inflation rates 】

38、 问题:Commercial banks usually quote four prices when they buy or sell foreign exchange: the central parity rate, the spot purchase rate, the cash purchase rate and the selling rate. Under the direct quotation, the highest and lowest prices are usually ()
选项：
A:selling rate and the cash purchase rate
B:central parity and spot purchase rate
C:spot purchase rate and cash purchase rate
D:spot purchase rate and selling rates
答案: 【selling rate and the cash purchase rate】

39、 问题:When a country has a large current account surplus, which policy can be adopted to reduce the surplus? 
选项：
A:Currency appreciation
B:Tight fiscal policy
C:Increasing export tax rebate
D:Currency depreciation
答案: 【Currency appreciation】

40、 问题:The view is based on ( ) that a rise in domestic interest rates will cause the current currency to depreciate.
选项：
A:monetary approach
B:theory of interest rate parity
C:theory of purchasing power parity
D:portfolio approach
答案: 【monetary approach】

41、 问题:68、The most direct determinant of the exchange rate of a currency to other currencies is ( )
选项：
A:the supply and demand of the currency in the foreign exchange market
B:price level in the issuing country of that currency
C:people’s expectation of the trend of the currency
D:the size of the country’s trade balance
答案: 【the supply and demand of the currency in the foreign exchange market】

42、 问题:The exchange rate system most conducive to a country’s international balance of payments is
选项：
A:exchange rate system in the Jamaica system
B:international gold standard system
C:the exchange rate system under the Bretton Woods system
D:the euro system
答案: 【exchange rate system in the Jamaica system】

43、 问题:The impact of the appreciation of a country’s currency on domestic prices is ()
选项：
A:rising
B:falling
C:unchanged
D:not sure
答案: 【rising】

44、 问题:The theory of purchasing power parity is divided into ().
选项：
A:relative purchasing power parity 
B:absolute purchasing power parity
C:mint parity
D:gold parity
E:the law of one price
答案: 【relative purchasing power parity ;
absolute purchasing power parity】

45、 问题:The currencies of developed economies are usually fully convertible. The convertibility of a country’s currency generally refers to ().
选项：
A:local currency can be imported and exported freely 
B:Foreign exchange can be brought into China, remitted out of the country and converted into local currency in China
C:both residents and non-residents may hold foreign exchange within China; Give and receive from each other 
D:allow foreign exchange to circulate and pay freely within China
E:Specify gold content
答案: 【local currency can be imported and exported freely ;
Foreign exchange can be brought into China, remitted out of the country and converted into local currency in China;
both residents and non-residents may hold foreign exchange within China; Give and receive from each other 】

46、 问题:In the foreign exchange market, the exchange rate of a country’s currency changes frequently. The main factors affecting the exchange rate changes include ( ).
选项：
A:interest rate difference and economic growth difference between domestic and foreign countries
B:the country’s balance of payments
C:the difference in the rate of price rise between domestic and foreign countries
D:domestic and foreign macroeconomic policies
E:market expectations
答案: 【interest rate difference and economic growth difference between domestic and foreign countries;
the country’s balance of payments;
the difference in the rate of price rise between domestic and foreign countries;
domestic and foreign macroeconomic policies;
market expectations】

47、 问题:Which of the following economic activities are mainly affected by exchange rate risks?
选项：
A:Export trade
B:Foreign exchange reserves
C:External debt
D:Import trade
E:Transnational asset allocation management
答案: 【Export trade;
Foreign exchange reserves;
External debt;
Import trade;
Transnational asset allocation management】

48、 问题:The following statements are consistent with the characteristics of the international monetary system under the Jamaica system:
选项：
A:The sovereign credit currency of some countries serves as an international currency.
B:Generally, the degree of exchange rate fluctuation has increased.
C:Diversification of exchange rate arrangements.
D:Gold is an important international currency.
E:Fixed exchange rate system for major currencies.
答案: 【The sovereign credit currency of some countries serves as an international currency.;
Generally, the degree of exchange rate fluctuation has increased.;
Diversification of exchange rate arrangements.】

49、 问题:The international monetary system which belongs to the fixed exchange rate system includes ( )
选项：
A:Bretton Woods system
B:international gold standard system
C:the Jamaica system
D:post-Bretton Woods system
E:credit monetary system
答案: 【Bretton Woods system;
international gold standard system】

50、 问题:The effects of currency appreciation include ()
选项：
A:increasing the international purchasing power of its residents 
B:When the balance of payments has a surplus, it is conducive to achieving the balance of payments. 
C:increasing imports 
D:it promotes exports and is good for economic growth
E:capital outflow
答案: 【increasing the international purchasing power of its residents ;
When the balance of payments has a surplus, it is conducive to achieving the balance of payments. ;
increasing imports 】

51、 问题:When a country has a current account deficit, the policies conducive to reducing the deficit include ( )
选项：
A:cutting deficit 
B:increasing the import tariff
C:depreciating the currency
D:raising domestic interest rates
E:cutting tax
答案: 【cutting deficit ;
increasing the import tariff;
depreciating the currency】

52、 问题:The theory of exchange psychology holds that the value of foreign exchange is determined by the subjective evaluation of the marginal utility of foreign exchange made by both the supply and demand of foreign exchange.
选项：
A:正确
B:错误
答案: 【正确】

53、 问题:According to the theory of relative purchasing power parity, if domestic inflation is higher than that of foreign countries, the nominal exchange rate should appreciate.
选项：
A:正确
B:错误
答案: 【错误】

54、 问题:According to the theory of interest rate parity, if a country’s currency has an appreciation trend or pressure, the country can maintain a higher interest rate to cope with it.
选项：
A:正确
B:错误
答案: 【错误】

55、 问题:Relative purchasing power parity (PPP) refers to the exchange rate between two currencies at a certain point depending on the ratio of the two countries’ general price levels.
选项：
A:正确
B:错误
答案: 【错误】

56、 问题:The appreciation of the nominal exchange rate can be used by the monetary authorities as a means of combating inflation.
选项：
A:正确
B:错误
答案: 【正确】

57、 问题:The direct quotation method is based on a certain number of domestic currency units to calculate the amount of foreign currency receivable to represent the exchange rate.
选项：
A:正确
B:错误
答案: 【错误】

58、 问题:The floating exchange rate system allows exchange rates to fluctuate freely as the supply-demand relationship in the foreign exchange market changes. Monetary authorities in various countries have never had to interfere in the foreign exchange market.
选项：
A:正确
B:错误
答案: 【错误】

59、 问题:According to the theory of interest rate parity, the relationship between interest rate and exchange rate is as follows: the currencies of countries with high interest rates rise in the forward foreign exchange market, while the currencies of countries with low interest rates discount in the forward foreign exchange market.
选项：
A:正确
B:错误
答案: 【错误】

60、 问题:The monetary approach considers that the exchange rate is the relative price of two currencies, and determines the exchange rate level by analyzing the demand and supply of two currencies.
选项：
A:正确
B:错误
答案: 【正确】

61、 问题:Under the Bretton Woods system, the exchange rate of currencies of various countries against the US dollar is fixed, which is a fixed exchange rate system.
选项：
A:正确
B:错误
答案: 【正确】

62、 问题:The indirect quotation is based on a certain number of foreign currency units to calculate how much local currency should be received to represent the exchange rate.
选项：
A:正确
B:错误
答案: 【错误】

63、 问题:If the local currency is pegged to a basic foreign currency and the exchange rate fluctuates with it, it is called a floating exchange rate.
选项：
A:正确
B:错误
答案: 【错误】

64、 问题: If a country’s currency has a long-term appreciation trend, cross-border funds tend to flow out.
选项：
A:正确
B:错误
答案: 【错误】

65、 问题:When a country has a balance of payments deficit, its currency tends to appreciate. When the balance of payments is in surplus, the currency tends to depreciate.
选项：
A:正确
B:错误
答案: 【错误】

66、 问题:Foreign exchange refers to foreign currency ( ).
选项：
A:正确
B:错误
答案: 【错误】

67、 问题:To maintain exchange rate stability, central banks often intervene in the foreign exchange market by buying and selling foreign exchange. When, among other things, the central bank buys foreign exchange and releases local currency, it can cope with appreciation pressure on the exchange rate.
选项：
A:正确
B:错误
答案: 【正确】

68、 问题:In the Bretton Woods system, a country’s exchange rate can be adjusted independently according to its own economic conditions.
选项：
A:正确
B:错误
答案: 【错误】

69、 问题:Under the intermediate exchange rate system, the central bank does not have to intervene in the foreign exchange market because the exchange rate has some room for free floating.
选项：
A:正确
B:错误
答案: 【错误】

70、 问题:The impact of exchange rate on trade and price level is the reflection of exchange rate as the commodity price attribute, while the impact of exchange rate on capital flow and asset price is the reflection of exchange rate as the asset price attribute.
选项：
A:正确
B:错误
答案: 【正确】

71、 问题:When the nominal effective exchange rate of a country appreciates, and the price level of that country rises relative to that of other countries, then the real effective exchange rate of that country appreciates more than the nominal effective exchange rate.
选项：
A:正确
B:错误
答案: 【正确】

72、 问题:According to the theory of interest rate parity, if a country raises interest rate, it will cause the local currency to discount in the forward market.
选项：
A:正确
B:错误
答案: 【正确】

73、 问题:72、An important flaw in the Jamaican system that has been criticized is that the currency in international circulation is still a sovereign currency, and the sovereign state issuing the currency enjoys the benefits of the international currency, but it does not assume the obligation of the currency to operate steadily internationally.
选项：
A:正确
B:错误
答案: 【正确】

74、 问题:One of the important reasons why SDR is difficult to become an international currency is that it is not a sovereign currency, and it is difficult to fulfill various financial conditions required to play the role of an international currency.
选项：
A:正确
B:错误
答案: 【正确】

Lecture 4 Credit and credit system Chapter test

1、 问题:Which monetary function relates most closely to the credit? 
选项：
A:the means of payment
B:to measure the value
C:the means of circulation
D:the means of storage
答案: 【the means of payment】

2、 问题:Which can be an essential basis to distinguish the direct financing and indirect financing? 
选项：
A:The participation of intermediary agents in financing activities and the role played by them
B:The supervision of the regulatory authority
C:The participation of securities firms
D:The participation of banks
答案: 【The participation of intermediary agents in financing activities and the role played by them】

3、 问题:In the regular partition to the means of financing, which credit form belongs to indirect financing?
选项：
A:Bank credit
B:Business credit
C:Issuance of government bonds
D:Issuance of shares
答案: 【Bank credit】

4、 问题:Which of the following does not belong to consumption credit forms?
选项：
A:The credit sale between enterprises
B:Selling on credit products to consumers
C:Clients buy the products on installment plan
D:Consumption loans
答案: 【The credit sale between enterprises】

5、 问题:In current economy, credit activities are closely related to money movement, and the credit expansion always means the (  ) of the money supply.
选项：
A:increase
B:decrease
C:invariability
D:uncertainty
答案: 【increase】

6、 问题:In current credit system, which of the followings about surplus and deficit is correct.
选项：
A:Deficit means the income is less than the expenditure, and the deficit means the net inflows of the capital.
B:Deficit means the income is more than the expenditure, and the deficit means the net outflows of the capital.
C:Surplus means the income is more than the expenditure, and the surplus means the net income of the capital.
D:Surplus means the income is less than the expenditure, and the surplus means the net outflows of the capital.
答案: 【Deficit means the income is less than the expenditure, and the deficit means the net inflows of the capital.】

7、 问题:The foundation of the production of credit is (  ). 
选项：
A:private ownership
B:public ownership 
C:slavery
D:mixed ownership
答案: 【private ownership】

8、 问题:Which report can reflect a country’s condition in using the international credit?
选项：
A:International investment sheet
B:International balance of payment sheet
C:Balance sheet
D:Cash flow sheet
答案: 【International investment sheet】

9、 问题:Which of the following statements about the bank credit is wrong?
选项：
A:Bank credit is always regard as indirect credit. 
B:Bank credit is always regarded as short-term credit. 
C:Bank credit is always direct credit. 
D:Bank credit is always long-term credit.
答案: 【Bank credit is always regard as indirect credit. 】

10、 问题:Which of the statements about five sectors is correct?
选项：
A:Government sectors are always deficit sectors
B:Resident sectors are always deficit sectors
C:Enterprises sectors are always surplus sectors
D:Foreign sectors are always surplus sectors 
答案: 【Government sectors are always deficit sectors】

11、 问题:Which of the statements about credit risks is correct?
选项：
A:The appearance of the breach of promises is always caused by 2 circumstances: debtors’ subjective and objective violation.
B:The credit risks are caused by the negative fluctuation of the market value.
C:Credit risks are always caused by the inferiority of debtors.
D:There is no close relationship between the appearance of credit risks and the qualities of debtors. 
答案: 【The appearance of the breach of promises is always caused by 2 circumstances: debtors’ subjective and objective violation.】

12、 问题:Compared with indirect financing, the advantages of direct financing do not include (  ).
选项：
A:More beneficial to the protection of business secrets
B:The closer relationship between debtors and creditors 
C:The costs of deficit financing are always lower
D:More beneficial to the combination of surplus and deficit
答案: 【More beneficial to the protection of business secrets】

13、 问题:Which of sheets can reflect a country’s international credit?
选项：
A:International investment position sheet
B:The balance of international payments
C:Balance sheet
D:Cash flow sheet 
答案: 【International investment position sheet】

14、 问题:International direct investment does not include (  ). 
选项：
A:Purchasing foreign stocks or other securities 
B:Establishing individual proprietorship abroad 
C:Stock to foreign enterprises in a certain scale
D:Jointing capital and establishing enterprises with enterprises in the host country 
答案: 【Purchasing foreign stocks or other securities 】

15、 问题:Which of the statements about deficit, surplus, the relationship of debtor and creditor is correct?
选项：
A:Deficit forms net debtor, surplus forms net creditor.
B:Deficit forms creditor, surplus forms creditor.
C:Deficit forms debtor, surplus forms net creditor.
D:Deficit forms net debtor, surplus forms creditor. 
答案: 【Deficit forms net debtor, surplus forms net creditor.】

16、 问题:The characters of business credit includes (  ).
选项：
A:The subject of business credit is commodity capital
B:Business credit is an indirect credit
C:The object credit is business bank
D:The credit provided in currency
答案: 【The subject of business credit is commodity capital】

17、 问题:The main forms of foreign loans do not include (  ). 
选项：
A:Purchasing foreign enterprises
B:Buyer’s credit
C:Loans of governments
D:Loans of international business banks
答案: 【Purchasing foreign enterprises】

18、 问题:Which of modes of consumption credit belongs to short-term consumption credit?
选项：
A:Charge sales
B:Installment plan 
C:Buyer’s consumption credit
D:Seller’s consumption credit
答案: 【Charge sales】

19、 问题:The effects of consumption credit do not include (  ). 
选项：
A:Transfer the precise information of products to producers
B:Expand effective demand and promote consumption of products
C:Adjust structurally aiming at some domains and departments
D:Adjust the quantity and structure of the requirement of consumption 
答案: 【Transfer the precise information of products to producers】

20、 问题:Which of the statements about the production of credit is correct?
选项：
A:Private ownership is the basis of the production of credit. 
B:Any uses of the properties of public ownership is free, and it is the performance of the peak of the development of credit. 
C:Positive development of credit lays a strong foundation of the establishing and the promotion of the property rights system.
D:Private ownership restricts the development of the credit.
答案: 【Private ownership is the basis of the production of credit. 】

21、 问题:Which can be the basis to distinguish direct financing and indirect financing?
选项：
A:It is direct financing when there is no participation of intermediary agents. 
B:If there is the participation of intermediary agents, it depends on the role played by them.
C:Whether there must be the replacement of financial instruments in the financing.
D:The need to accept the supervision in financing. 
E:Whether there is participation of banks.
F:Whether the financing involves financial instruments such as stocks and bonds.
答案: 【It is direct financing when there is no participation of intermediary agents. ;
If there is the participation of intermediary agents, it depends on the role played by them.;
Whether there must be the replacement of financial instruments in the financing.】

22、 问题:Which of the statements about the influences caused by endorsement condition of commercial paper to credit risks are correct? 
选项：
A:The higher the endorser’s credit ranks, the lower his risks to violate the commercial paper will be.
B:There is a negative correlation between the number of endorsers and the risks to violate the commercial paper.
C:There is a positive correlation between the number of endorsers and the risks to violate the commercial paper.
D:The trade bill is endorsable, but the commercial paper is not endorsable.
E:The commercial paper is endorsable, but the trade bill is not endorsable. 
F:There is no relationship between the number of endorsers and the risks to violate the commercial paper.
答案: 【The higher the endorser’s credit ranks, the lower his risks to violate the commercial paper will be.;
There is a negative correlation between the number of endorsers and the risks to violate the commercial paper.】

23、 问题:The characteristics of usury include (  ).
选项：
A:extremely high interest rate
B:considerable casualness of the interest rate 
C:the interest rate is really unstable and different
D:borrowers are always in low status
E:can’t take out loans in kind
F:the final goals are always controlling and plundering borrowers
答案: 【extremely high interest rate;
considerable casualness of the interest rate ;
the interest rate is really unstable and different;
borrowers are always in low status】

24、 问题:Which of the followings belongs to direct financing? 
选项：
A:business credit
B:non-governmental credit
C:enterprises bond financing
D:stock financing
E:bank credit 
F:The risk management service for applicant provided by insurance company through charging premium
答案: 【business credit;
non-governmental credit;
enterprises bond financing;
stock financing】

25、 问题:As to the understanding of “Finance”, which of the followings are correct?
选项：
A:The financing of the capital
B:The credit and debit activities carried by currency
C:The product combining currency and credit 
D:The melt of the gold
E:After “Finance” arises, there is no need for currency and credit to exist independently
F:Bank business 
答案: 【The financing of the capital;
The credit and debit activities carried by currency;
The product combining currency and credit 】

26、 问题:At present, the main forms of consumption credit include (  ).
选项：
A:credit sale
B:installment plan
C:consumption loans
D:payment in advance 
E:securities margin trading
F:invest in stocks with funds through p2p platform 
答案: 【credit sale;
installment plan;
consumption loans】

27、 问题:Social credit system includes (  ).
选项：
A:Credit file system
B:Credit investigation system
C:Credit evaluating system
D:Credit query system
E:Breach of credit publicity system
F:Breach of credit punishment system
答案: 【Credit file system;
Credit investigation system;
Credit evaluating system;
Credit query system;
Breach of credit publicity system】

28、 问题:Which of the means of financing belong to foreign credit?
选项：
A:International business bank loans 
B:Foreign government loans
C:International financial institution loans
D:International capital market financing
E:International financing lease
F:International direct investment
答案: 【International business bank loans ;
Foreign government loans;
International financial institution loans;
International capital market financing;
International financing lease】

29、 问题:Which of the financial activities belong to FDI?
选项：
A:Establishing individual proprietorships including embranchments, subsidiary corporations and so on. 
B:Purchasing and merging the foreign enterprises including establishing auxiliary institutions.
C:Jointing capitals and establishing enterprises with host countries. 
D:Investing in foreign enterprises stocks in a certain scale. 
E:Re-invest in local area utilizing the profits of direct investment. 
F:A country’s supports to the shares of the international currency institution.
答案: 【Establishing individual proprietorships including embranchments, subsidiary corporations and so on. ;
Purchasing and merging the foreign enterprises including establishing auxiliary institutions.;
Jointing capitals and establishing enterprises with host countries. ;
Re-invest in local area utilizing the profits of direct investment. 】

30、 问题:International direct investment includes (  ).
选项：
A:Re-invest utilizing profits of direct investment 
B:Establishing embranchment abroad 
C:Merging foreign enterprises 
D:Lending money to foreign government
E:Purchasing other countries’ stocks in international capital markets
F:Purchasing foreign countries’ national debt
答案: 【Re-invest utilizing profits of direct investment ;
Establishing embranchment abroad ;
Merging foreign enterprises 】

31、 问题:The main performances of the negative effects of consumption credit are (  ).
选项：
A:Overdevelopment may cover up the disparities between supply and demand of products
B:Overdevelopment can easily lead to credit inflation
C:The misuse of consumers may increase its debt burden and leads to the instability of the society
D:Rapid development can promote the inclusive financial system 
E:Consumption credit improves the consumers’ ability to arrange the cash flow intertemporally.
F:It is harmful to cultivate the credit consciousness of consumers 
答案: 【Overdevelopment may cover up the disparities between supply and demand of products;
Overdevelopment can easily lead to credit inflation;
The misuse of consumers may increase its debt burden and leads to the instability of the society】

32、 问题:Credit risk is the possibility for borrowers to break the contrast because of the failure to repay the debt deliberately. 
选项：
A:正确
B:错误
答案: 【错误】

33、 问题:As to the influence to the future credit caused by the consumers’ bad credit, the established practice in different countries is to let the bad credit retain in the public system for broken credit perpetually.
选项：
A:正确
B:错误
答案: 【错误】

34、 问题:In the history of financial development, indirect financing arises before direct financing.
选项：
A:正确
B:错误
答案: 【错误】

35、 问题:Business credit arises after bank credit.
选项：
A:正确
B:错误
答案: 【错误】

36、 问题:The gradual construction of improvement will lay a solid foundation for the positive development of the credit.
选项：
A:正确
B:错误
答案: 【正确】

37、 问题:The control power of the project utilizing FDI belongs to its host city, host government and related enterprises. 
选项：
A:正确
B:错误
答案: 【错误】

38、 问题:Those countries with a large amount of foreign currency are international creditor nation.
选项：
A:正确
B:错误
答案: 【错误】

39、 问题:With the enhancement of the protection effort of investors, and the decrease of the cost to obtain information, and the degree of the unparalleled information decreasing, the proportion of direct financing tends to incline. 
选项：
A:正确
B:错误
答案: 【正确】

40、 问题:State credit is a debit and credit activity with the participation of central government, that is an activity in which central government plays a role in debtor and creditor. 
选项：
A:正确
B:错误
答案: 【错误】

41、 问题:Business credit is the credit provided by sellers to consumers in currency when dealing between enterprises.
选项：
A:正确
B:错误
答案: 【错误】

42、 问题:The combination of credit and currency is a new category–finance, which is the debit and credit activities carried by currency.
选项：
A:正确
B:错误
答案: 【正确】

43、 问题:The appearance of the breach of promises is always caused by 2 circumstances: debtors’ subjective and objective violation.
选项：
A:正确
B:错误
答案: 【正确】

44、 问题:The credit of economic category is based on debit and credit activities which are in the premise that the principle can be paid back.
选项：
A:正确
B:错误
答案: 【错误】

45、 问题:Acceptance is the behavior that creditors of mercantile bills signed in the back of the bill to take the responsibility. 
选项：
A:正确
B:错误
答案: 【错误】

46、 问题:In the natural economy, the disparities between supply and demand of the loans, concentrated monopoly of loaners, high risks of paying and costs of maintaining the credit are the rudiment reasons that why usury exists. 
选项：
A:正确
B:错误
答案: 【正确】

47、 问题: Credit file system is the basis of the whole credit system, and it includes personal credit files and enterprises credit files.
选项：
A:正确
B:错误
答案: 【正确】

48、 问题:Market economy is the economy based on free contrast and free deal. 
选项：
A:正确
B:错误
答案: 【正确】

49、 问题:With the development of the economy and the professionalization of society, the main credit form gradually becomes physical credit.
选项：
A:正确
B:错误
答案: 【错误】

50、 问题:Bank credit is the credit provided by banks or other financial institution in the form of currency.
选项：
A:正确
B:错误
答案: 【正确】

51、 问题:The statement reflecting a country’s external assets, liabilities and net position is its international investment position sheet.
选项：
A:正确
B:错误
答案: 【正确】

52、 问题:Great credit regulation can increase the cost of the market’s operation. 
选项：
A:正确
B:错误
答案: 【错误】

53、 问题:Nice credit status is beneficial to the expansion of the market. 
选项：
A:正确
B:错误
答案: 【正确】

54、 问题:The development of market economy can lead to the deterioration of morality and credit status. 
选项：
A:正确
B:错误
答案: 【错误】

55、 问题:Effective collection, transformation and publicity of information are important in the construction of the credit.
选项：
A:正确
B:错误
答案: 【正确】

56、 问题:The law is a good protection to the equity, and it has essential fundamental effects to the establishment of a country’s credit institution and the promotion of credit environment.
选项：
A:正确
B:错误
答案: 【正确】

57、 问题:A society with good moral atmosphere will not arise behaviors of breaching the promises.
选项：
A:正确
B:错误
答案: 【错误】

58、 问题:Seller’s consumption loan is a kind of indirect credit.
选项：
A:正确
B:错误
答案: 【错误】

59、 问题:The regulating effect of consumption credit to macroeconomic only shows in quantity. 
选项：
A:正确
B:错误
答案: 【错误】

60、 问题:The credit cards can be used everywhere and by anyone, so current economy can be regarded as credit economy.
选项：
A:正确
B:错误
答案: 【错误】

61、 问题:It is surplus when the income is more than expenditure, and it will form creditor’s rights using the surplus to lend, so the surplus sectors whose income is more than expenditure only have creditors’ right rather than debts.  
选项：
A:正确
B:错误
答案: 【错误】

Lecture 5 Time value of money and interest rate Chapter test

1、 问题:The lower the short-term interest rate is, the more inclined the yield curve is to slope upwards. Which theory can best explain the above statement?
选项：
A:Term structure of interest rates theory
B:Risk structure of interest rates theory
C:Interest rate determination theory 
D:Loanable—funds theory of interest
答案: 【Term structure of interest rates theory】

2、 问题:An investor bought a treasury bill with a maturity of 30 days and a denomination of 10,000 yuan at a price of 9,850 yuan. The annualized rate of return of treasury bill was (  ). 
选项：
A:18.27%
B:1.52% 
C:45.68% 
D:9.14%
答案: 【18.27%】

3、 问题:Under the condition of rising price levels, to keep the real interest rate unchanged, the nominal interest rate should be (  ). 
选项：
A:Turned up 
B:Left unchanged 
C:Turned down
D:Not sure
答案: 【Turned up 】

4、 问题:If a company borrows 1 million yuan from a bank, the annual interest rate is 15%, the term is three years and the annual compound interest is applied, then the sum of principal and interest payable after maturity is (  ). 
选项：
A:1.52 million 
B:1.45 million
C:1 million
D:1.5 million 
答案: 【1.52 million 】

5、 问题:In a given year, the expected inflation rate is 6% and the nominal interest rate is 10%, then which of the following items is the closest answer to the real interest rate (  ). 
选项：
A:4%
B:16%
C:10%
D:6%
答案: 【4%】

6、 问题:In a market-based interest rate system, the interest rate that determines the changes in other interest rates is (  ). 
选项：
A:Base rate
B:Effective interest rate
C:Official interest rate
D:Market interest rate 
答案: 【Base rate】

7、 问题:In 2011, the 1-year deposit interest rate of Chinese official financial institution was 3.5%, and the year’s CPI rose 12.5% year-on-year, then the actual interest rate of 1-year deposits of Chinese financial institutions in that year is (  ).
选项：
A:-8%
B:3.5% 
C:12.5%
D:-9%
答案: 【-8%】

8、 问题:In a high-inflation economic environment, which of the following statement is correct (  ).
选项：
A:Creditors bear losses while debtors gain benefits
B:Debtors bear losses while creditors gain benefits
C:Both creditors and debtors will gain benefit
D:Both creditors and debtors will bear losses
答案: 【Creditors bear losses while debtors gain benefits】

9、 问题:Knowing that the one-year and two-year fixed deposit interest rates of banks are 3% and 3.75%, the forward interest rate in the second year is (  ).
选项：
A:4.51％
B:3.00％
C:3.75％
D:3.60％
答案: 【4.51％】

10、 问题:When there is a “liquidity trap”, an increase in the money supply will lead to interest rates (  ).
选项：
A:No change
B:Decline
C:Ascent 
D:Not sure
答案: 【No change】

11、 问题:Suppose that you buy 10,000 shares of Company A at the price of 10 yuan per share, and sell it after 9 months at 10.4 yuan per share, and during the holding period you also receive a dividend of 0.2 yuan per share, then the annual rate of return is (  ).
选项：
A:8% 
B:4%
C:6%
D:2%
答案: 【8% 】

12、 问题:Generally, rising market interest rates will result in stock prices (  ). 
选项：
A:Decline
B:Ascent
C:No change 
D:Unable to judge 
答案: 【Decline】

13、 问题:Assuming that the market interest rate is 5%, the future value of a fund with a present value of 10,000 yuan calculated using compound interest after two years is (  ).
选项：
A:11,025 yuan
B:11,000 yuan
C:10,100 yuan 
D:10,102.5 yuan
答案: 【11,025 yuan】

14、 问题:A perpetual bond with a face value of 100 yuan has a coupon interest rate of 10%. When the market interest rate is 8%, the theoretical market price of the bond should be (  ) yuan.
选项：
A:125
B:100 
C:110
D:1,375 
答案: 【125】

15、 问题:If the real interest rate is 3% and the expected inflation rate is 6%, the nominal interest rate level should be approximately equal to (  ).
选项：
A:9% 
B:2% 
C:3%
D:6%
答案: 【9% 】

16、 问题:Large international banks lend to each other for large sums of money, often at (  ) interest rates.
选项：
A:LIBOR
B:SIBOR
C:HIBOR
D:average interest rate
答案: 【LIBOR】

17、 问题:The Liquidity Preference Theory was put forward by (  ).
选项：
A:Keynes 
B:Marshall 
C:Fisher
D:Bohm-Bawerk
答案: 【Keynes 】

18、 问题:Famous British scholars (  ) brought forward Loanable-Funds Theory of Interest.
选项：
A:Robertson
B:Keynes
C:Ohlin 
D:Hume
答案: 【Robertson】

19、 问题:An enterprise makes an investment, the investment amount currently paid is 10,000 yuan, and is expected to be recovered within the next 6 years. In the case of 6% annual interest rate, in order to make the investment profitable, the enterprise should at least recover (  ) every year.
选项：
A:2,033.64 yuan
B:1,433.63 yuan
C:1,443.63 yuan
D:2,023.64 yuan
答案: 【2,033.64 yuan】

20、 问题:According to Keynes, the main factors in the decision of interest rate are (  ).
选项：
A:the supply and demand of money
B:saving and investing
C:supply and demand of loanable funds 
D:risk and time
E:Total return -8.33%
答案: 【the supply and demand of money】

21、 问题:The yield to maturity of the bond is less than the coupon rate, the bond will be issued (  ), as the maturity time is approaching, the premium/discount would (  ). 
选项：
A:at a premium, the premium would reduce
B:at a discount, the discount would reduce 
C:at a discount, the discount would increase
D:at a premium, the premium would increase
答案: 【at a premium, the premium would reduce】

22、 问题:In the calculation of the time value of money, the key term usually involved are (  ).
选项：
A:Present value
B:Future value
C:Time interval
D:Interest rate 
E:Currency
F:Exchange rate 
答案: 【Present value;
Future value;
Time interval;
Interest rate 】

23、 问题:Interest rates will change in different economic periods, and the usual situations are (  ). 
选项：
A:During the crisis, interest rates will gradually increase
B:During the depression period, interest rates will tend to fall.
C:During the recovery phase, interest rates will tend to rise.
D:During the boom period, interest rates tend to rise.
E:During the recovery phase, interest rates will tend to fall.
F:During the crisis, interest rates tend to fall.
答案: 【During the crisis, interest rates will gradually increase;
During the depression period, interest rates will tend to fall.;
During the recovery phase, interest rates will tend to rise.;
During the boom period, interest rates tend to rise.】

24、 问题:According to the Fisher Effect, which of the following statements are correct (  ). 
选项：
A:When the nominal interest rate is higher than the expected inflation rate, the real interest rate is positive. 
B:When the nominal interest rate is lower than the expected inflation rate, the real interest rate is negative. 
C:When the nominal interest rate is equal to the expected inflation rate, the real interest rate is zero.
D:When the nominal interest rate is lower than the expected inflation rate, the real interest rate is positive. 
E:When the nominal interest rate is equal to the expected inflation rate, the real interest rate is positive. 
F:When the nominal interest rate is higher than the expected inflation rate, the real interest rate is negative. 
答案: 【When the nominal interest rate is higher than the expected inflation rate, the real interest rate is positive. ;
When the nominal interest rate is lower than the expected inflation rate, the real interest rate is negative. ;
When the nominal interest rate is equal to the expected inflation rate, the real interest rate is zero.】

25、 问题:The yield to maturity of the bond depends on (  ).
选项：
A:Bond face value
B:Market price of bonds
C:Coupon rate
D:Bond maturity
E:Bond issuer
F:Bond holder
答案: 【Bond face value;
Market price of bonds;
Coupon rate;
Bond maturity】

26、 问题:The risk structure of interest rate includes (  ). 
选项：
A:Risk of default
B:Liquidity risk
C:Tax risk
D:Purchasing power risk
E:Risk of exchange rate changes 
F:Operational risk
答案: 【Risk of default;
Liquidity risk;
Tax risk;
Purchasing power risk;
Risk of exchange rate changes 】

27、 问题:If commercial banks raise interest rates on loans, then it will help to (  ).
选项：
A:Suppress corporate demand for credit funds
B:Reduce individual consumer credit
C:Motivate to curb the expansion of the money supply
D:Expand the money supply
E:Stimulate economic growth 
F:Stimulate price increases
答案: 【Suppress corporate demand for credit funds;
Reduce individual consumer credit;
Motivate to curb the expansion of the money supply】

28、 问题:According to the length of the credit activity, the interest rate can be divided into (  ). 
选项：
A:Short-term interest rate
B:Long-term interest rate 
C:Spot interest rate
D:Forward interest rate
E:Floating interest rate
F:Fixed interest rate 
答案: 【Short-term interest rate;
Long-term interest rate 】

29、 问题:The interest rate mainly effects and influences (  ).
选项：
A:Savings and investment 
B:Supply and demand of loan funds
C:Asset price
D:Total social supply and demand 
E:Resource allocation efficiency
F:Financial markets
答案: 【Savings and investment ;
Supply and demand of loan funds;
Asset price;
Total social supply and demand ;
Resource allocation efficiency;
Financial markets】

30、 问题:Among the following factors, which can determine or influence the interest rate level?
选项：
A:Average profit margin level 
B:Price level
C:Supply and demand of borrowed capital 
D:International interest rate level
E:Average social profit level
F:Maximum profit level
答案: 【Average profit margin level ;
Price level;
Supply and demand of borrowed capital ;
International interest rate level;
Average social profit level】

31、 问题:According to the status of interest rates, interest rates can be divided into (  ). 
选项：
A:Base rate 
B:General interest rate
C:Market interest rate
D:Official rate
E:Fixed interest rate
F:Risk-free interest rate 
答案: 【Base rate ;
General interest rate】

32、 问题:With regard to interest, which of the following statements are correct? 
选项：
A:Interest belong to the credit scope.
B:The essence of interest is a compensation for the time difference of value. 
C:Interest forms the basis of credit.
D:Logically, interest must be based on borrowing and derived from industry profits.
E:Interest exists only in capitalist economic relations. 
F:Interest is the natural yield of money. 
答案: 【Interest belong to the credit scope.;
The essence of interest is a compensation for the time difference of value. ;
Interest forms the basis of credit.;
Logically, interest must be based on borrowing and derived from industry profits.】

33、 问题:Classical interest rate theory has been widely popular. The main representatives are (  ).
选项：
A:Marshall 
B:Fisher
C:Bohm-Bawerk
D:Keynes
E:Robert
F:Nordhaus
答案: 【Marshall ;
Fisher;
Bohm-Bawerk】

34、 问题:The interest rate management system adopted by various countries can be broadly divided into the following types (  ). 
选项：
A:Centralized national management
B:Free market decisions
C:The combination of A and B
D:Local management
E:The combination of B and D 
F:The combination of A and D
答案: 【Centralized national management;
Free market decisions;
The combination of A and B】

35、 问题:If the interest rates of both borrowers and depositors are calculated at a fixed nominal rate, then (  ) if there is a large increase in the rate of inflation in the future. 
选项：
A:Creditors get benefits
B:Depositors endure losses
C:Creditors endure losses
D:Depositors get benefits
E:Borrowers gains nothing and loses nothing 
F:Depositors gain nothing and lose nothing
答案: 【Creditors get benefits;
Depositors endure losses】

36、 问题:With regard to fixed and floating interest rates, which of the following statements are correct?
选项：
A:Borrowing at a fixed rate is better for budget execution and decision making.
B:Floating rate is usually calculated based on the base rate.
C:Since the interest rate is agreed at the beginning of the period, there is no risk in borrowing at a fixed interest rate. 
D:When the market interest rate fluctuates greatly, banks prefer to lend at a fixed rate.
E:A floating rate is an interest rate that is subject to change at any time. 
F:The fixed interest rate is fixed for both parties, so it is a better way to contract interest rates than the floating rate.
答案: 【Borrowing at a fixed rate is better for budget execution and decision making.;
Floating rate is usually calculated based on the base rate.】

37、 问题:The classical “real interest rate theory” believes that interest rates are determined by the supply and demand of money.
选项：
A:正确
B:错误
答案: 【错误】

38、 问题:Compared with simple interest, compound interest is a more reasonable method of interest calculation. 
选项：
A:正确
B:错误
答案: 【正确】

39、 问题:Keynes believes that the increase in the money supply by the central bank will always cause the market interest rate to fall.
选项：
A:正确
B:错误
答案: 【错误】

40、 问题:According to the discounted cash flow method in investment decisions, if the net present value (NPV) of a project is negative, it can be adopted, and the smaller the NPV, the higher the absolute return of the project.
选项：
A:正确
B:错误
答案: 【错误】

41、 问题:When a country is in the crisis stage of economic cycle, interest rates usually keep falling.
选项：
A:正确
B:错误
答案: 【错误】

42、 问题:Regarding the term structure theory of bonds, the expected hypothesis theory believes that different bonds are completely replaceable. 
选项：
A:正确
B:错误
答案: 【正确】

43、 问题:Since currency has time value, the amount of money at different time cannot be simply compared, simply added or subtracted.
选项：
A:正确
B:错误
答案: 【正确】

44、 问题:The interest rate stipulated by the currency management department or central bank of a country is a public interest rate.
选项：
A:正确
B:错误
答案: 【错误】

45、 问题:Generally speaking, expansionary monetary policy will lower market interest rates.
选项：
A:正确
B:错误
答案: 【正确】

46、 问题:The interest rate used when calculating the present value is also commonly referred to as the discount rate. 
选项：
A:正确
B:错误
答案: 【正确】

47、 问题:Spot interest rate refers to the interest rate in the form of simple interest for financial instruments of different periods.
选项：
A:正确
B:错误
答案: 【错误】

48、 问题:Interest rate marketization refers to the operating mechanism that determines the interest rate at a certain point in time through the market and the value law mechanism. 
选项：
A:正确
B:错误
答案: 【正确】

49、 问题:Discount refers to anything with income, which can be calculated by comparing the income and interest rate. The discount concept lays the foundation for people to use the current value method of income to evaluate the price of profitable assets. 
选项：
A:正确
B:错误
答案: 【错误】

50、 问题:The return on risk assets is equal to the benchmark interest rate plus the risk premium.
选项：
A:正确
B:错误
答案: 【错误】

51、 问题:In terms of simple interest or compound interest, the self-interest choice of micro-subjects also makes compound interest an actual method of calculating interest.
选项：
A:正确
B:错误
答案: 【正确】

52、 问题:Compared with interest, interest rate is a better indicator to measure the time value of money. It makes the time value of money in various credit activities comparable to each other.
选项：
A:正确
B:错误
答案: 【正确】

53、 问题:Market risk refers to the possibility of loss due to weak asset liquidity or slow liquidity. 
选项：
A:正确
B:错误
答案: 【错误】

54、 问题:The time value of money means that the money you have now is worth less than the identical sum in the future. 
选项：
A:正确
B:错误
答案: 【错误】

55、 问题:To play the role of interest rates, some basic conditions need to be met: independent decision-making market entities, market-oriented interest rate decision mechanisms, and reasonable interest rate flexibility.
选项：
A:正确
B:错误
答案: 【正确】

56、 问题:The interest rate can be divided into spot interest rate and forward interest rate according to the time of interest calculation.
选项：
A:正确
B:错误
答案: 【错误】

57、 问题:Compound interest is calculated by taking into account of the time value of funds, which is beneficial to lenders.
选项：
A:正确
B:错误
答案: 【正确】