1 The Basics of Exchange Rate

1.1随堂测验

1、单选题:
‎What is the official currency of Australia?‎
选项:
A: USD
B: AUD
C: NZD
D: EUR
答案: 【 AUD

2、单选题:
‌What is the currency symbol for euro?​
选项:
A: $
B: £
C: €
D: ¥
答案: 【 €

3、单选题:
‏Emma is setting off from London for a business trip to America. She converts £270 to dollarss. How many dollars will she receive at the exchange rate of £1=$1.3? ‍
选项:
A: 350
B: 351
C: 207
D: 208
答案: 【 351

4、单选题:
‍After touring Canada, Ava is returning to the USA. She converts Can$1260 to dollars. How many dollars will she receive, supposes the exchange rate is USD/CAD=1.3200 ?‎
选项:
A: 1662
B: 1663
C: 954.5
D: 956.5
答案: 【 954.5

5、单选题:
‍Suppose the exchange rate between the Japanese yen and the U.S. dollar is 100 yen per dollar. A Japanese stereo with a price of 60,000 yen will cost:‍
选项:
A: $60
B: $600
C: $6000
D: None of the above
答案: 【 $600

1.2随堂测验

1、单选题:
‎In which currency pair, USD is the base currency. ‌
选项:
A: EUR/USD
B: AUD/USD
C: GBP/USD
D: USD/HKD
答案: 【 USD/HKD

2、判断题:
‌GBP/USD=1.2860, from the perspective of America, this is direct quote.​
选项:
A: 正确
B: 错误
答案: 【 正确

1.3随堂测验

1、单选题:
‌In 2001, the Euro cost just about 90 cents. In 2008, the cost of the Euro was almost $1.50. This general development means that between 2001 and 2008.‏
选项:
A: The Euro appreciated against the U.S. dollar. 
B: Both the U.S. dollar and the Euro depreciated in value. 
C: Both the U.S. dollar and the Euro appreciated in value. 
D: The U.S. dollar appreciated against the Euro.
答案: 【 The Euro appreciated against the U.S. dollar. 

2、单选题:
‎The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that (       )。‌
选项:
A: the dollar has depreciated relative to the yen
B: the US trade balance with the Japanese economy has improved
C: the dollar can now purchase more yen
D: the yen can now purchase more dollars
答案: 【 the dollar can now purchase more yen

3、单选题:
‌The statement “the yen rose today from 121 to 117” makes sense because‌
选项:
A: The U.S. gains when Japan loses.
B: These numbers measure yen per dollar, not dollars per yen.
C: These numbers are indexes, defined relative to a base of 100.
D: These numbers refer to time of day that the change took place.
答案: 【 These numbers measure yen per dollar, not dollars per yen.

1.4随堂测验

1、单选题:
‌A major difference between the spot market and the forward market is that the spot market deals with:​
选项:
A: The immediate delivery of currencies
B: The merchandise trade account
C: Currencies traded for future delivery
D: Hedging of international currency risks
答案: 【 The immediate delivery of currencies

2、单选题:
‌The price at which one can enter into a contract today to buy or sell a currency 30​‌​‌days from now is called a​‌​
选项:
A: Reciprocal exchange rate.
B: Effective exchange rate.
C: Exchange rate option.
D: Forward exchange rate.
答案: 【 Forward exchange rate.

3、判断题:
‎The trade-weighted dollar is the weighted average of the exchange rates between the dollar and the most important trading partners of the United States.‎
选项:
A: 正确
B: 错误
答案: 【 正确

4、判断题:
​A commercial bank profits from foreign-exchange trading when its bid rate exceeds its offer rate.‎
选项:
A: 正确
B: 错误
答案: 【 错误

第一章单元测验

1、单选题:
​What is the official currency of Germany?‎
选项:
A: USD
B: EUR
C: JPY
D: CHF
答案: 【 EUR

2、单选题:
‎If the yen per dollar exchange rate is 200 yen, then it falls to 150 yen, this means that‏
选项:
A: it now takes $150 to buy one yen.
B: the dollar has depreciated relative to the yen.
C: the dollar's purchasing power relative to the yen has risen.
D: the price of goods imported from Japan will fall.
答案: 【 the dollar has depreciated relative to the yen.

3、单选题:
‌If 1 US dollar is worth 0.80 Euros, what is the exchange rate for converting Euros to US dollars?‏
选项:
A: 1.25
B: 1.5
C: 0.8
D: 1.1
答案: 【 1.25

4、单选题:
‌The exchange rate for converting US dollars to Chinese yuan is 6.11. How much is 600 US dollars worth in China?‌
选项:
A: 3500 Chinese yuan
B: 3800 Chinese yuan
C: 3666 Chinese yuan
D: 4120 Chinese yuan
答案: 【 3666 Chinese yuan

5、单选题:
‍Molly is traveling from France to the US. She knows that 1 US dollar is worth 0.80 Euros. How much is 350 Euros worth in US dollars?‏
选项:
A: 425 US dollars 
B: 437.50 US dollars
C: 375 US dollars 
D: 280 US Dollars
答案: 【 437.50 US dollars

6、单选题:
​Which of the following statements regarding an exchange rate is not true?‌
选项:
A: It is the rate at which one country's currency can be traded for another country's currency. 
B: It exists so firms and countries can trade and do business with each other.
C: Fixed exchange rates are determined by supply and demand forces. 
D: It is often necessary when individuals travel outside of their home country. 
答案: 【 Fixed exchange rates are determined by supply and demand forces. 

7、单选题:
‍Which exchange rate would most likely be used for a good or service that will be delivered at a future date?​
选项:
A:  Forward
B: Current
C: Spot
D: Future
答案: 【  Forward

8、单选题:
‌If the exchange rate appreciates from £1=$1.2 to £1=$1.4, a $10 product will now cost how much in pounds?‎
选项:
A: £8.33
B: £14
C: £7.17
D: £8.2
答案: 【 £7.17

9、单选题:
‍GBP/USD: 1.2980‎‍USD/CAD: 1.3010‎‍Find the GBP/CAD exchange rate.‎
选项:
A: 1.7896 
B: 1.6887 
C: 1.8432
D: 1.6934 
答案: 【 1.6887 

10、单选题:
​In the interbank market for foreign exchange, the ____ refers to the price that a bank is willing to pay for a unit of foreign currency.​
选项:
A: Offer rate
B: Bid rate
C: Spread rate 
D: Transaction rate
答案: 【 Bid rate

11、填空题:
‏Lisa is vacationing in Argentina and has $25 to spend on a new hat. The hat costs 114 Argentine pesos. One US dollar can be converted into 6 Argentine pesos. How many Pesos will Lisa have if she converts the $25?‏
答案: 【 150

12、填空题:
‏Lisa is vacationing in Argentina and has $25 to spend on a new hat. The hat costs 114 Argentine pesos. One US dollar can be converted into 6 Argentine pesos. How many Pesos will Lisa have if she converts the $25?‎
答案: 【 150

2 Exchange Rate Determination

2.1随堂测验

1、单选题:
‏When the price of foreign currency (i.e., the exchange rate) is below the equilibrium level:​
选项:
A: An excess demand for that currency exists in the foreign exchange market
B: An excess supply of that currency exists in the foreign exchange market
C: The demand for foreign exchange shifts outward to the

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