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Catpasta · 2023年07月16日

完全看不明白如何计算…

  1. CFA I
  2. Economics Analysis

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。

无法联系CPI的知识

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1 个答案

笛子_品职助教 · 2023年07月16日

嗨，努力学习的PZer你好：


完全看不明白如何计算…无法联系CPI的知识


Hello，亲爱的同学~


我们先联系CPI的知识。

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

结合以上公式，就可以用CPI，把实际汇率和名义汇率联系起来。


另外，这道题并不需要进行计算。


我们看到 the real exchange rate has decreased by 2%，则A选项说，One US dollar can exchange for more than 1.4 Canada dollars，名义汇率保持不变，这不是一定正确的。因此不选。因为从以上公式看出，FX real 贬值2%，可能是FX nominal 贬值，也可能是CPIf/CPId变少，如果是前者，在A选项 不对。因此，不能保证A选项一定正确，不选A。


选项B：There is a decrease of 2% in purchasing power of USD relative to CAD.

这就是he real exchange rate has decreased by 2%

换了一种表述。

知识点是实际汇率的定义：实际汇率衡量的就是购买力平价变动。

因此B正确。


Inflation in Canada is about 2% lower than that in USA，从上面公式看出，实际汇率贬值，可能是名义汇率变动引起，也可能是CPI变动引起。并不能说一定由CPI变动引起，因此C不选。而且，即使名义汇率不变，从公式看出来， 对于CAD/USD汇率表达式，Canada的inflation，是CPId这项。CPId降低2%，并不能让实际汇率贬值2%


如果同学还有其他问题，欢迎随时提问哦~ 祝学习顺利！

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努力的时光都是限量版，加油！

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