ClassroomExercises国际金融课堂练习.docx

ClassroomExercises国际金融课堂练习

Chapter1InternationalBalanceofPayments

I.Answerthefollowingquestions.

1.Doesthebalanceofpaymentsrecordstocksorflows?

2.InU.S.,aretransactionsgivingrisetothedemandforthe

dollarrecordedasdebitsorcreditsinthebalanceofpayments?

3.Whatare“invisibles”inthebalanceofpayments?

4.McGraw-HillInc.hasearningsofroyaltiesonbooks.How

doesthistransactionberecordedintheU.S.balanceofpayments?

5.Sincegoldisapartofofficialreserves,howwouldthe

balanceofpaymentsstatisticsshowthesaleofdomesticallyminedgoldtothecountry’scentralbank?Whathappensiftheminingcompanysellsthegoldtoforeignprivatebuyers?

II.RecordthefollowingtransactionsintheUSbalanceofpaymentsinT-accounts.

1.U.S.exports$10,000graintoJapan.Itispaidbycheckin

dollars.

2.U.S.touristsspendSwissfrancswhichisequivalentto

$2,000inGeneva.

3.AU.S.investorbuysa2-yearCanadiantreasurynoteof

$3,000,paysbycheck.

4.U.S.shipisleasedtocarrybeeffromAustraliatoBritain.

Paymentforfreightchargesis$50,000.

5.FederalReservesells$1milliongoldtosupportthevalueof

thedollar.

6.U.S.Red-CrossAssociationdonated1,000tentstothe

disasterareainChina.Thosetentsworth$10,000.

III.Whichofthefollowingtransactionswouldcontributeto

aU.S.currentaccountsurplus?

1.Boeingbartersa$100millionplanetoMexicoinexchange

for$100millionworthofhotelservicesontheMexicancoast.

2.TheUnitedStatesborrows$100millionlongtermfrom

SaudiArabiatobuy$100millionofSaudioilthisyear.

3.TheUnitedStatessellsa$100millionjettoTurkeyfor$100

millioninbankdeposits.

4.TheU.S.governmentmakesagiftof$100milliontothe

governmentofGreece,intheformofNewYorkbankdeposits,topayforinjuriescausedbyTurkishjetattacks.5.TheBritishcentralbankbuys$100millioninU.S.dollar

bankdepositsfromaNewYorkbank,payingbypro