Comparative advantage shifts over time as less developed countries become more developed and realize their latent opportunities (潜在机会).
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When a bank is lack of reserves before the end of a business day in U.S., it could probably borrow from________
A. Federal Funds Markets
B. Repurchase Market
C. Federal discount window
D. All of the above
Foreign exchange ________ earn a profit by a bid-ask spread on currencies they purchase and sell. Foreign exchange ________, on the other hand, earn a profit by bringing together buyers and sellers of foreign currencies and earning a commission on each sale and purchase.
A. central banks; treasuries
B. dealers; brokers
C. brokers; dealers
D. speculators; arbitragers
Which of the following may be participants in the foreign exchange markets?
A. bank and nonbank foreign exchange dealers
B. central banks and treasuries
C. speculators and arbitragers
D. All of the above
The authors identify two tiers of foreign exchange markets:
A. bank and nonbank foreign exchange.
B. commercial and investment transactions.
C. interbank and client markets
D. client and retail market.