【正文】 相反，它是沿IS曲線的一個(gè)運(yùn)動(dòng)結(jié)果。因此，IS曲線的移動(dòng)到右邊（或）。因此，IS曲線向左移動(dòng)（或向下）。（3）Explain the effect of each of the following on the IS curve: spending decreases demand for the country’s exports country’s interest rate increases.。FE曲線顯示，導(dǎo)致一個(gè)國(guó)家的官方結(jié)算余額為0的利率和國(guó)內(nèi)產(chǎn)出的所有組合。（2）How does the FE curve relate to the concept of external balance?外部均衡是一個(gè)國(guó)家與世界各地支付總體均衡的一個(gè)合理的和可持續(xù)的構(gòu)成的實(shí)現(xiàn)。，減少對(duì)國(guó)外進(jìn)口，所以第一個(gè)國(guó)家的出口下降。 this country is large, what effect will this have on foreign product and ine?，降低了其他國(guó)家的出口，所以國(guó)外的產(chǎn)出和收入下降。 ））。Chapter 8（1）A country has marginal propensity to save of and a marginal propensity to import of domestic spending now decreases by $ to the spending multiplier(for a small open economy),by how much will domestic product and ine change? What is the change in the country’s imports?。國(guó)際投資者和投機(jī)者有時(shí)會(huì)認(rèn)為他們有一對(duì)被認(rèn)為是貨幣投機(jī)賭注“麻煩”如果國(guó)家沒(méi)有管理，以捍衛(wèi)其貨幣釘住匯率率值，投資者對(duì)貨幣的博彩會(huì)失去小。 the discussion in this chapter and the previous chapter of Part I, how would you characterize the movements of exchange rates between the and the other major currencies since the shift to managed floating in the early 1970s?，無(wú)論對(duì)于大多數(shù)國(guó)家，其次是和加拿大元的匯率值，在1950至62年浮動(dòng)的固定利率。其他國(guó)家的貨幣當(dāng)局致力于掛本國(guó)貨幣交換率值，以美元。 are the major currencies that float against each other?。致力于設(shè)置和捍衛(wèi)固定匯率，其官方儲(chǔ)備的融資的臨時(shí)收支失衡的國(guó)家。 is the evidence on speculation and speculative pressure on exchange rates during this ，無(wú)論是對(duì)人秉承的金標(biāo)準(zhǔn)，并為國(guó)家，暫時(shí)允許其貨幣浮動(dòng)匯率的國(guó)家的貨幣之間的匯率。 was the nature of economic shocks during this period?，從大約1870年到1914年，到系統(tǒng)的經(jīng)濟(jì)沖擊是輕度。其他國(guó)家用自己的盈余，建立其持有的黃金儲(chǔ)備（和英鎊計(jì)價(jià)的資產(chǎn)形式的國(guó)際儲(chǔ)備）。 country was central to the system?What was the role of this country in the success of the currency system?，因?yàn)橛?guó)經(jīng)濟(jì)在工業(yè)化和世界貿(mào)易的領(lǐng)導(dǎo)者，因?yàn)橛?guó)被認(rèn)為是經(jīng)濟(jì)安全和審慎的。系統(tǒng)中的每個(gè)參與國(guó)政府同意購(gòu)買(mǎi)或出售，以換取在一個(gè)固定的黃金價(jià)格黃金本國(guó)貨幣（本國(guó)貨幣）。一個(gè)爬行釘住是一個(gè)“固定”的貨幣交換率值經(jīng)常更改（例如，每周或每月）的匯率政策，有時(shí)根據(jù)指標(biāo)如通貨膨脹率的差異。 is the path of the market exchange rate likely to be over the next several years?Why? Chapter6（1）What is the difference between an adjustable and a crawling peg?我們經(jīng)常使用的術(shù)語(yǔ)聯(lián)系匯率是指固定匯率，因?yàn)楣潭ɡ室话闶遣还潭ǖ挠肋h(yuǎn)。，匯率（本國(guó)貨幣的外幣價(jià)格）可能迅速減少大量。貨幣可能升值了很多，因?yàn)槟壳暗膮R率必須“過(guò)沖”其預(yù)期的未來(lái)現(xiàn)貨價(jià)值。對(duì)于這兩個(gè)原因，國(guó)際投資者將轉(zhuǎn)向投資于該國(guó)的債券。此外，在投資者的緊縮可能還預(yù)計(jì)，該國(guó)貨幣的匯率值可能會(huì)在未來(lái)更高。世界各地的巨無(wú)霸（表示在一個(gè)共同的貨幣）的價(jià)格差異很大。巨無(wú)霸不能套利。3Will the law of one price apply better to gold or to Big Macs?Why?一價(jià)定律將舉行金。日元（對(duì)美元的需求）的額外供給的即期匯率市場(chǎng)日元（美元升值）目前現(xiàn)貨價(jià)值減少。 close presidential election 美國(guó)總統(tǒng)選舉has just been candidate whom international investors view as the stronger and more probusiness person if this ,investors expect the exchange rate to be $，那么他們希望日元貶值在未來(lái)90天，從最初的現(xiàn)貨價(jià)值。 observe the following current rates: Spot exchange rate:$–denominated bonds :4% Annual interest rate on 90day yen–denominated bonds :4% uncovered interest parity holds, what spot exchange rate do investors expect to exist in 90 days?.，投資者必須預(yù)計(jì)，日元匯率在現(xiàn)貨價(jià)值的變化率等于利率差，這是零。預(yù)期發(fā)現(xiàn)的息差約為3％+ 1％3％= 1％，有利于發(fā)現(xiàn)在以歐元計(jì)價(jià)的債券的投資增加對(duì)歐元即期外匯市場(chǎng)的需求趨于升值的歐元，如果歐元利率和預(yù)期未來(lái)即期匯率保持不變，那么。目前長(zhǎng)遠(yuǎn)價(jià)值（）超過(guò)其目前的即期價(jià)值（）。再來(lái)判斷出這些數(shù)據(jù)是否會(huì)引起非常接近0的抵補(bǔ)利率平價(jià)。B..As a result of this this arbitrage,what is the pressure on the crossrate between yen and krone ?What must the value of the crossrate be to eliminate the opportunity for triangular arbitrage? Chapter4 have been asked to determine whether covered interest parity holds for oneyear government bonds issued by the British data will you need?How will you test?。，會(huì)使交叉匯率（克朗兌換日元的價(jià)格）有下降的壓力。對(duì)你賣(mài)的最初的每一美元，你可以得到5克朗，這5克朗可以得到125日元。因此，在一個(gè)有利可圖的三角套利中，你想以高交叉率賣(mài)出克朗。該國(guó)的居民以前收購(gòu)的外國(guó)金融資產(chǎn)，以及來(lái)自國(guó)外的借貸是其它形式的資本流入，這些資本也可以創(chuàng)建外幣供應(yīng)。在國(guó)內(nèi)金融資產(chǎn)的投資上，外國(guó)投資者在購(gòu)買(mǎi)國(guó)內(nèi)資產(chǎn)前，必須將外幣兌換為本國(guó)貨幣。在支付這些出口物的過(guò)程中，外幣兌換為本國(guó)貨幣，創(chuàng)造了外幣供應(yīng)。（5）You are given the following information about a country’s international transactions during a year: Merchandise exports 商品出口$330 Merchandise imports 商品進(jìn)口198 Service exports 勞務(wù)出口196 Service imports 勞務(wù)進(jìn)口204 Ime flows,net流量?jī)纛~Unilateral transfers,net 單方面轉(zhuǎn)移金額8 Increase in the country’s holding of foreign assets,net202(excluding official reserve assets)增加在該國(guó)的凈外國(guó)資產(chǎn)Increase in foreign holding of the country’s assets,net102(excluding official reserve assets)增加在該國(guó)的本國(guó)資產(chǎn)Statistical discrepancy, net凈統(tǒng)計(jì)誤差 the values of the country’s goods and services balance,current account balance經(jīng)常賬戶余 額,and official settlements trade balance: $330198 + 196198 + 1968 = $119 Official settlements balance官方儲(chǔ)備資產(chǎn): $330204 + 3202 + 4 = $23 is the value of the change in official reserve assets(net)官方儲(chǔ)備資產(chǎn)?Is the country increasing or decreasing its net holding of official reserve assets? Change in official reserve assets(net)=（6）What are the effects of each of the following on the investment position? central banks increase their official holdings of increase their holdings of stocks issued by Japanese British pension fund sells some of its holdings of the stocks of in order to buy are the major types of transactions or activities that result in supply of foreign currency in the spot foreign exchange market? 商品和服務(wù)出口，導(dǎo)致外匯市場(chǎng)的外匯供應(yīng)。，因此在經(jīng)常項(xiàng)目中為正值；而在單方面轉(zhuǎn)移支付中，與其成對(duì)存在的相同數(shù)量為負(fù)值。（4）Which of the following transac