答案和详解如下： 1．A country that uses a fixed exchange rate system is least likely to: A) use discretionary monetary policy to keep the exchange rate within a narrow band around the target rate. B) employ discretionary fiscal policy. C) run a current account surplus in consecutive years. D) hold official reserves of the currency against which the exchange rate is fixed. The correct answer was A) Under a fixed exchange rate system, the country gives up discretion about monetary policy and creates domestic currency only up to its holdings of the foreign currency into which it promises to convert the domestic currency. A pegged exchange rate system uses monetary policy to keep the currency’s foreign exchange value within a band relative to a target. A country with a fixed exchange rate remains free to use discretionary fiscal policy. The state of its current and capital accounts will depend on its trade and investment flows. 2．In a pegged exchange rate system the: A) currency is backed by actual holdings of another currency, such as the U.S. dollar. B) monetary authority maintains the exchange rate within a narrow band relative to other currencies. C) exchange rate is fixed by the currency board. D) exchange rate is fixed by governmental fiat and not allowed to float freely. The correct answer was B) This type of system requires a country to use its monetary policy to maintain the desired exchange rate within a narrow range relative to other currencies. 3．An exchange rate system that involves a country's commitment to use fiscal and monetary policy to maintain the country's exchange rate within a narrow band is a: A) fixed rate, unified currency system. B) floating exchange rate system C) macroeconomic policy change system. D) pegged exchange rate system. The correct answer was D) An exchange rate system that involves a country's commitment to use fiscal and monetary policy to maintain the country’s exchange rate within a narrow band is a: pegged exchange rate system. | 
发表于 2008-5-19 17:00
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