题目内容

Which of the following mechanisms cannot be adopted by a country to defend a fixed exchange rate?

A. The government can buy or sell foreign currency in order to influence the actual exchange rate.
B. The government can allow the currency to self-adjust and the resulting market rate will be equal to the intended rate in the fixed exchange rate regime.
C. The government can impose a form of exchange control.
D. The government can alter domestic interest rates in order to influence short-term capital flows.

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Consider that Britain is trying to maintain a fixed exchange rate with respect to the U.S. dollar. However, the present situation in the foreign exchange market is conducive for the British pound to depreciate with respect to the U.S. dollar. If the British government intervenes in the foreign exchange market, then it can be inferred that:

A. Britain is financing a surplus in its overall balance of payments.
B. the British money supply will rise.
C. Britain is financing a deficit in its overall balance of payments.
D. Britain is gaining official international reserves.

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Consider that Britain is trying to maintain a fixed exchange rate with respect to the U.S. dollar. However, the present situation in the foreign exchange market is conducive for the British pound to depreciate with respect to the U.S. dollar. If the British government uses sterilized intervention in the foreign exchange market, then:

A. Britain is gaining official international reserves.
Britain will be running a surplus.
C. the British monetary authorities will be selling British government bonds.
D. the British monetary authorities will be buying British government bonds.

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Which of the following best describes a situation in which a country buys domestic currency in order to defend a pegged exchange rate, and also uses a policy in the domestic economy in to prevent the domestic money supply from changing?

A. Official intervention
B. Sterilized intervention
C. Maintaining a crawling peg
Deficit without tears

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If a country with a fixed exchange rate faces a fundamental disequilibrium because it has a large, ongoing surplus in it official settlements balance, which of the following policies can it employ to try to achieve external balance?

A. Impose import barriers
B. Raise interest rates
C. Allow the exchange rate to float
D. Obtain a loan from the IMF

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