NO.PZ2022071403000083
问题如下:
Question
A developing country that maintains a fixed value for its currency relative to the US dollar is experiencing a decline in its economic activity, and its inflation rate falls below the level of inflation in the United States. The most likely result of the developing country’s actions to maintain the fixed exchange rate target is that its:
选项:
A.foreign exchange reserves will decrease. B.short-term interest rates will fall. C.money supply will contract.解释:
SolutionB is correct. With a decline in economic activity and domestic inflation, the currency of the developing country would start to rise against the dollar. To protect the exchange rate target, the developing country’s monetary authority will purchase foreign exchange reserves and sell its own currency. This will increase the domestic money supply, decrease short-term interest rates, and increase foreign exchange reserves.
A is incorrect. With a decline in economic activity and domestic inflation, the currency of the developing country would start to rise against the dollar. To protect the exchange rate target, the developing country’s monetary authority will purchase foreign exchange reserves and sell its own currency. This will increase the domestic money supply, decrease short-term interest rates, and increase foreign exchange reserves.
C is incorrect. With a decline in economic activity and domestic inflation, the currency of the developing country would start to rise against the dollar. To protect the exchange rate target, the developing country’s monetary authority will purchase foreign exchange reserves and sell its own currency. This will increase the domestic money supply, decrease short-term interest rates, and increase foreign exchange reserves.
这道题绕晕了。 翻译过来也有点看不懂。看看我理解的对么
看不懂选项C
因为要跟随目标,但是通货膨胀减小了,导致本币升值,外币贬值。所以需要反向操作,买美元,卖本币,让本币贬值下去。
既然把本币都卖出去了,为什么会导致货币供应增加。不应该是本国本币减少了,物以稀为贵,难道不会导致本币升值么。
第二是利率,我没按咱们给的记。我就记得,前段时间美国加息挺严重,然后美国货币就升值对中国来说。
所以推出本国利率上涨 导致本币升值。
这道题的国家目的需要把本国货币给人为贬值,所以会导致本国里利率降低,所以选b 。
可是再这么理解:比如说A国一年期利率由5%调整为10%,也就是说10000元A币一年后本利由原来的10500元A币调整成11000元A币;也即现在的11000元A币只能买到调整前10500元的货物
货币利率上升,货币贬值了就。。。。。。。。那b选项就错了。。