题目内容

Which of the following is the NOT feature of the post Bretton Woods era?

A rise in nationalism and increasingly noncooperative policy making.
B. Fixed dollar exchange rates were given up by the developed countries.
Capital account restrictions were widely eliminated or reduced.
D. Economic reforms took place in the developing countries.

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Which period is called the post Bretton Woods era?

A. Before 1914
B. 1914-1945
C. 1945-1971
D. After 1971

With arbitrage, a trader attempts to purchase a foreign currency at a low price and, at a later date, resell the currency at a higher price in order to make a profit.

Which of the following is NOT feature of the period 1914-1945?

A. The global economy was destroyed by the Two world wars and the Great Depression.
B. A rise in nationalism and increasingly noncooperative policy making.
Capital controls became widespread.
D. International investment was welcome.

Assume the following: (1) the interest rate on 6-month treasury bills is 8 percent per annum in the United Kingdom and 4 percent per annum in the United States; (2) today's spot price of the pound is $1.50 , while the 6-month forward price of the pound is $1.485. By investing in U.K. treasury bills rather than U.S. treasury bills, and not covering exchange rate risk, U.S. investors earn an extra return of:

A. 4 percent per year, 1 percent for the 6 months
B. 4 percent per year, 2 percent for the 6 months
C. 2 percent per year, 0.5 percent for the 6 months
D. 2 percent per year, 1 percent for the 6 months

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