Under the indirect quotation, the exchange rate of a local currency to a foreign currency becomes larger and smaller, which respectively means（）
A. appreciation and depreciation of local currency
B. devaluation and appreciation of local currency
C. no relation
D. not sure
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The arbitrageur conducts arbitrage transactions while conducting foreign exchange covering to prevent exchange rate risk is called（）
A. covered arbitrage
B. speculation
C. hedging
D. swap trade
Exchange rate fluctuations are limited by the cost of gold transportation, and the international balance of payments can be automatically adjusted. This monetary system is（）
A. international gold standard
B. floating exchange rate system
C. Bretton Woods system
D. mixed standard system
The difference between the nominal exchange rate and the real exchange rate is mainly determined by（）
A. domestic interest rate
B. domestic and foreign interest rates
C. domestic prices
D. domestic and foreign prices
If the exchange rate of a country’s currency is persistently and obviously undervalued, it will often lead to（）
A. increase in foreign exchange supply, decrease in foreign exchange demand, balance of payments surplus
B. decrease in foreign exchange supply, increase in foreign exchange demand, balance of payments deficit
C. increase in foreign exchange supply, decrease in foreign exchange demand, balance of payments deficit
D. decrease in foreign exchange supply, increase in foreign exchange demand, balance of payments surplus
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