2022 Daily Practice of Finance by Intermediate Economist
1. The capital account in the balance of payments includes ().
A. Reserve assets
B. Direct investment
C. Capital transfer
D. Purchase and abandonment of non productive and non-financial assets
E. Frequent transfer
2. According to statistics, China's GDP in 2011 was 7497 billion US dollars; In 2011, China's exports of goods and services totaled 2086.7 billion dollars, with a current account surplus of 2017 billion dollars, a capital and financial account surplus of 221.1 billion dollars, and an increase of 387.8 billion dollars in international reserve assets; At the end of 2011, the balance of foreign debt repaid was $548.9 billion. Assuming other factors remain unchanged, China's balance of payments surplus will lead to China's ().
A. Put in local currency, purchase foreign exchange, inflation
B. RMB appreciation
C. Increase foreign exchange reserves
D. Use foreign exchange reserves and withdraw local currency
3. The capital account in the balance of payments includes ().
A. Reserve assets
B. Direct investment
C. Capital transfer
D. Purchase and abandonment of non productive and non-financial assets
E. Frequent transfer
4. The reason why a country can use monetary policy to adjust the balance of payments imbalance is that monetary policy can have () and other regulatory effects on its balance of payments.
A. Demand effect
B. Structural effect
C. Price effect
D. Interest rate effect
E. Supply effect
5. In recent years, China's balance of payments has been in surplus. In order to alleviate this trend, China can adopt the following adjustment policies: ().
A. Tight fiscal policy
B. Loose monetary policy
C. Allow RMB appreciation
D. Relax foreign exchange control on enterprises' foreign direct investment
E. Encourage the inflow of high value-added foreign direct investment
1. [Reference answer] CD. Corporate analysis: the capital account shows the credit and debit entries of non productive non-financial assets and total capital transfer between residents and non residents. The capital account in the balance of payments includes: capital transfer, non production, purchase and abandonment of non-financial assets.
2. [Reference answer] ABC. China's analysis: other factors remain unchanged, China's balance of payments surplus will lead to China's investment in local currency, purchase of foreign exchange, increase of foreign exchange reserves, and lead to inflation; The supply of foreign exchange exceeded the demand, the foreign exchange rate fell, and the RMB appreciated.
3. [Reference Answer] CD. Corporate analysis: the capital account shows the credit and debit entries of non productive non-financial assets and total capital transfer between residents and non residents. The capital account in the balance of payments includes: capital transfer, non production, purchase and abandonment of non-financial assets.
4. [Reference answer] ACD. China's analysis: tight monetary policy can be adopted when the balance of payments deficit. Tight monetary policy has three major regulatory effects on the balance of payments: first, it produces demand effects; The second is to produce price effect; The third is to produce interest rate effect. When the balance of payments is in surplus, we can adopt a loose monetary policy. The loose monetary policy can produce the demand effect of expanding import demand on the balance of payments, the price effect of price rise restricting exports and stimulating imports, and the interest rate effect of interest rate reduction impeding capital inflows and stimulating capital outflows.
5. [Reference answer] BCD. Zhonggong's analysis: when the balance of payments surplus occurs, we can adopt a loose fiscal policy; Loose monetary policy; Legal appreciation or appreciation policy of local currency can also be adopted, and foreign trade control and exchange control can be relaxed or even cancelled.
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