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.
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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
Which is the second period of the evolution of capital mobility according to Obstfeld and Taylor(2002)?
A. Before 1914
B. 1914-1945
C. 1945-1971
D. After 1971
Which of the following is NOT right?
A. Capital is one of the factors of production.
B. Capital is one of the most mobile factors on the international level.
Capital is traded mainly through international and domestic financial markets.
D. A country's capital can only be used for domestic production
When short-term interest rates become lower in Tokyo than in New York, interest arbitrage operations will most likely result in a(n):
A. Increase in the spot price of the yen
B. Increase in the forward price of the dollar
C. Sale of dollars in the forward market
D. Purchase of yen in the spot market
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