1.16 In 1992, the European Union decided to create an economic as well as a monetary
union involving the introduction of ________.
a. b. c. d.
a pegged currency known as the euro. a managed currency know as the ecu.
a freely floating exchange rate for a currency known as the euro. a single European currency managed by a European central bank.
The European Union, p. 21
1.17 The European Union is a free trade association that is based on a(n)
a. b. c. d.
economic and monetary union economic union monetary union
a commonly agreed upon list of lowered tariffs
The European Union, p. 21
1.18 Which one of the following has a single currency managed by a common central bank?
a. b. c. d.
ASEAN
European Union
World Trade Organization
The Organization for Economic Cooperation and Development
The European Union, p. 21
1.19 Which one of the following its renowned for its high-quality databases on economic and
social data?
a. b. c. d.
WTO EU OECD
World Bank
The Organization for Economic Cooperation and Development, p. 20
1.20 What is the name of the international organization that fosters monetary and financial
cooperation and serves as a bank for central banks?
a. b. c. d.
WTO EU
World Bank
Bank for International Settlements
The bank for international settlements (BIS), p. 21
1.21 Which of the following are institutional banks that provide financial support and
professional advice for developing countries?
a. b. c. d.
multilateral development banks central banks investment banks Barclays bank
Multilateral development banks, p. 20
1.22 What economic field of study explores the problems associated with a firm that arise
from a separation of ownership and control and devises ways to resolve them?
a. b. c. d.
futures and options agency theory
foreign direct investment franchising
Agency theory and corporate governance, p. 11
DIFFICULTY LEVEL: MODERATE
1.23 In the economic field of agency theory, which one of the following is viewed as an agent
with the principals who are most importantly the firm’s shareholders?
a. b. c. d.
suppliers employees managers attorneys
Agency theory and corporate governance, p. 11
1.24 What do the Enron Corporation, Worldcom and Tyco have in common?
a. b. c. d.
they were part of the oil and gas industry
all three were owned by a single parent company
each one was an example of sound corporate governance all were involved in corporate scandals
Corporate scandals, p. 11
1.25 Which one of the following is the most common method of overcoming the agency
problem in developed countries outside of the U.S. and the U.K?
a. b. c. d.
concentrated ownership currency boards hostile takeovers
foreign direct investment
Concentrated ownership, p. 13
Which of the following markets is comprises the world’s major banks and other financial institutions?
2.1
a. b. c. d.
Forex Market Spot Market
Interbank Market Money Market
The organization of the foreign exchange market, p. 36
2.2
When someone in the currency market can buy a currency at a low price and sell it for a higher price, it is known as
a. b. c. d.
arbitrage
the bid-ask spread hedging
interbank currency market
The organization of the foreign exchange market, p. 36
2.3
Which one of the following features is not part of the interbank foreign exchange market?
a. b. c. d.
Derivative securities such as foreign currency futures and options Trade in swaps and forward contracts Immediate exchanges of monies Non-strategic loans
The organization of the foreign exchange market, p. 36
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