NO.PZ2016010801000105
问题如下:
Last year, the nominal exchange rate for CAD/USD was 1.40. This year, the real exchange rate has decreased by 2%. Which of the following statement is most likely correct?
选项:
A.One US dollar can exchange for more than 1.4 Canada dollars.
B.There is a decrease of 2% in purchasing power of USD relative to CAD.
C.Inflation in Canada is about 2% lower than that in USA.
解释:
B is correct. The real exchange rate is to assess changes in the relative purchasing power of one currency compared with another. The 2% decrease in real exchange rate indicates the 2% depreciation of USD compared to CAD.
考点:实际汇率
解析:实际汇率是用来评估一种货币相对于另一种货币的相对购买力的变化。实际汇率下降2%表明美元对加元贬值2%。所以B选项正确。
此时1单位美元换汇的加拿大的数目就少于1.4单位,A选项不正确。
C的说法不一定,所以也不入选。
real exchange rate=nominal exchange rate*(US CPI/CAD CPI)
这里只给出了前一年的nominal exchange rate=1.40,以及第二年的real exchange rate相对于第一年的降低了2%
所以我们得不到下一年的nominal exchange rate的信息,A错误
货币购买力是本国货币的价值(反映在nominal exchange rate上)被本国的物价(反映在CPI上)归一化,故real exchange rate反映的就是货币的相对购买力,B正确
C与A同理,完全没有得到任何信息