Which of the following is NOT cited as a good reason for hedging currency exposures?
A. Reduced risk of future cash flows is a good planning tool.
B. Reduced risk of future cash flows reduces the probability that the firm may not meet required cash flows.
Currency risk management increases the expected cash flows to the firm.
D. Management is in a better position to assess firm currency risk than individual investors.
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From the early 1980s through today, who has been the largest net borrower in the world?
A. United States.
B. United Arab Emirates.
China.
D. Japan.
Which of the following is one of the usual policy changes included in an IMF prescription?
A. Temporary cartels in domestic product markets.
B. Changes in fiscal policy to reduce the government budget deficit.
C. Increased barriers to imports.
Decreased regulation of public sector enterprises.
Which of the following contributed to the Asian Crisis?
A. The strong capital inflows from the industrialized countries mainly provided financing for large fiscal deficits in the South East Asian countries.
B. The currencies of most of the Asian countries were substantially undervalued.
C. The Hong Kong dollar was allowed to depreciate.
D. The local borrowers in the Asian countries scrambled to sell local currency to establish hedges against exchange rate risks.
Beginning in about 1990, lending to and investing in developing countries began to increase. One explanation for this is that:
A. Interest rates in the United States began to rise.
B. The governments in the developing countries began to encourage import-substituting manufacturing.
Changes in IMF policies toward exchange rate risk.
Deregulation and privatization in the developing countries opened up profitable new investment opportunities.
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