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发表于 2010-4-13 15:12 | 只看该作者

Reading 17: The Exchange Rate and Balance of Payments-LOS a习

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Session 4: Economics: Economics for Valuation
Reading 17: The Exchange Rate and Balance of Payments

LOS a: Define an exchange rate and differentiate between the nominal exchange rate and the real exchange rate.

Assuming no changes in the prices of a representative consumption basket in two currency areas over the measurement period, the nominal exchange rate:

A)	can be extrapolated to calculate interest rates.

B)	is equal to the real exchange rate.

C)	can be converted to the real exchange rate using interest rates.

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发表于 2010-4-13 15:12 | 只看该作者

Assuming no changes in the prices of a representative consumption basket in two currency areas over the measurement period, the nominal exchange rate:

A)	can be extrapolated to calculate interest rates.

B)	is equal to the real exchange rate.

C)	can be converted to the real exchange rate using interest rates.

The real interest rate = the nominal interest rate × ratio of consumption basket (or index) price levels in both countries. Assuming no price changes, the real exchange rate has remained the same as the nominal interest rate during the period.

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发表于 2010-4-13 15:13 | 只看该作者

In the currency market, traders quote the:

A)	base currency rate.

B)	real exchange rate.

C)	nominal exchange rate.

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发表于 2010-4-13 15:13 | 只看该作者

In the currency market, traders quote the:

A)	base currency rate.

B)	real exchange rate.

C)	nominal exchange rate.

The nominal exchange rate is quite simply the price of one currency relative to another. It is the quote observed in currency markets.

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发表于 2010-4-13 15:13 | 只看该作者

If we compare the prices of goods in two countries through time, we can use the price information in concert with the quoted foreign exchange rate to calculate the:

A)	real exchange rate.

B)	interest rate spread.

C)	nominal exchange rate.

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6^#

发表于 2010-4-13 15:13 | 只看该作者

If we compare the prices of goods in two countries through time, we can use the price information in concert with the quoted foreign exchange rate to calculate the:

A)	real exchange rate.

B)	interest rate spread.

C)	nominal exchange rate.

A comparison of consumption costs between two markets can, in concert with the foreign exchange rate (also called the nominal exchange rate), be used to calculate the real exchange rate.

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