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a.
surplus of pounds, decrease
b.
surplus of pounds, increase
c.
shortage of pounds, decrease
d.
shortage of pounds, increase
ANSWER:
d
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
PREFACE NAME:
Preface 1
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Analyze
DATE CREATED:
7/5/2016 8:36 AM
DATE MODIFIED:
7/7/2016 4:26 AM
148. In the table above, a change in the ______ will result in a movement along the supply schedule of pounds
a.
dollar/pound exchange rate
b.
rate of interest in the United States
c.
per-capita income of Americans
d.
level of technology in the United States
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
PREFACE NAME:
Preface 1
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Analyze
DATE CREATED:
7/5/2016 8:41 AM
DATE MODIFIED:
7/7/2016 4:29 AM
149. In the table above, a change in the ______ will result in a movement along the demand schedule for pounds
a.
dollar/pound exchange rate
b.
rate of interest in the United States
c.
per-capita income of Americans
d.
level of technology in the United States
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
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Page 62
PREFACE NAME:
Preface 1
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Analyze
DATE CREATED:
7/5/2016 8:43 AM
DATE MODIFIED:
7/7/2016 4:30 AM
150. The exchange rate is the price at which the ______ of Switzerland exchanges for the ______ of Germany
a.
b.
c.
d.
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:45 AM
DATE MODIFIED:
7/5/2016 8:47 AM
151. When the value of the Mexican peso declines relative to another currency, the exchange rate for the Peso has
a.
revalued
b.
appreciated
c.
depreciated
d.
deposited
ANSWER:
c
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:47 AM
DATE MODIFIED:
7/5/2016 8:49 AM
152. Assume that the exchange rate between the euro and the pound has changed from 2 euros per pound to 3 euros per
pound. We can say that the
a.
euro appreciated against the pound
b.
euro depreciated against the pound
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c.
the euro has been officially revalued
d.
both the euro and the pound have appreciated
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:49 AM
DATE MODIFIED:
7/5/2016 8:50 AM
153. When the U.S. dollar appreciates against the Mexican peso, the peso becomes ______ and the U.S. exchange rate
______.
a.
less expensive; declines
b.
less expensive; rises
c.
more expensive; declines
d.
more expensive; rises
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:51 AM
DATE MODIFIED:
7/5/2016 8:52 AM
154. Last month, the exchange rate between the U.S. dollar and the Japanese yen was 100 yen per dollar. The exchange
rate is currently at 110 per dollar. We can say that
a.
the dollar appreciated against the yen and the yen depreciated against the dollar
b.
the dollar depreciated against the yen and the yen appreciated against the dollar
c.
the dollar and the yen both appreciated
d.
the dollar and the yen both depreciated
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
depreciated against the franc; depreciated against the pound
b.
appreciated against the franc; appreciated against the yen
depreciated against the peso; appreciated against the pound
d.
depreciated against the peso; appreciated against the yen
ANSWER:
POINTS:
DIFFICULTY:
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
PREFACE NAME:
Preface 2
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:54 AM
DATE MODIFIED:
7/5/2016 8:56 AM
b.
A Japanese investor purchasing German securities
Honda, a Japanese auto company, buying land in Alabama
d.
Airbus, a European firm, selling jetliners to airlines in South Korea
ANSWER:
POINTS:
DIFFICULTY:
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
KEYWORDS:
BLOOM’S: Apply
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 8:53 AM
DATE MODIFIED:
7/5/2016 8:54 AM
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Page 65
DATE CREATED:
7/5/2016 8:57 AM
DATE MODIFIED:
7/5/2016 8:59 AM
157. When the exchange rate (dollars per pound) decreases, the
a.
quantity of pounds demanded decreases
b.
quantity of pounds demanded decreases
c.
demand curve for pounds shifts rightward
d.
demand curve for pounds shifts leftward
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/5/2016 8:59 AM
DATE MODIFIED:
7/5/2016 9:05 AM
158. When the exchange rate (dollars per pound) falls, the
a.
quantity of pounds supplied decreases
b.
quantity of pounds supplied increases
c.
supply curve of pounds shifts rightward
d.
supply curve of pounds shifts leftward
ANSWER:
a
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/5/2016 9:06 AM
DATE MODIFIED:
7/5/2016 9:07 AM
159. The demand curve for British pounds slopes downward because as the dollar ______ British goods become ______
for Americans. Therefore, Americans purchase ______ British goods and the quantity of pounds demanded increases.
a.
appreciates against the pound; less expensive; more
b.
appreciates against the pound; more expensive; fewer
c.
depreciates against the pound; less expensive; more
d.
depreciates against the pound; more expensive; more
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
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Page 66
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:07 AM
DATE MODIFIED:
7/5/2016 9:11 AM
160. The demand curve for British pounds slopes downward because as the dollar ______ British goods become ______
for Americans. Therefore, Americans purchase ______ British goods and the quantity of pounds demanded decreases.
a.
appreciates against the pound; more expensive; more
b.
appreciates against the pound; more expensive; fewer
c.
depreciates against the pound; more expensive; more
d.
depreciates against the pound; more expensive; fewer
ANSWER:
d
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:11 AM
DATE MODIFIED:
7/5/2016 9:12 AM
161. The supply curve of British pounds slopes upward because as the dollar _____ American goods become ______ for
the British. Therefore, the British purchase ______ American goods and the quantity of pounds supplied increases.
a.
depreciates against the pound; less expensive; more
b.
depreciates against the pound; more expensive; less
c.
appreciates against the pound; more expensive; more
d.
appreciates against the pound; less expensive; less
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:13 AM
DATE MODIFIED:
7/5/2016 9:14 AM
162. The supply curve of British pounds slopes upward because as the dollar _____ American goods become ______ for
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Page 67
the British. Therefore, the British purchase ______ American goods and the quantity of pounds supplied decreases.
a.
depreciates against the pound; more expensive; more
b.
depreciates against the pound; more expensive; less
c.
appreciates against the pound; more expensive; less
d.
appreciates against the pound; less expensive; more
ANSWER:
c
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Supply and demand
TOPICS:
Exchange Rate Determination
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:38 AM
DATE MODIFIED:
7/5/2016 9:43 AM
163. Concerning the exchange rate index of the U.S. dollar, suppose that the dollar’s real exchange rate index rises from
95 to 115. This means that
a.
the dollar has depreciated against the currencies of its major trading partners
b.
the dollar has appreciated against the currencies of its major trading partners
c.
the dollar’s nominal exchange rate index falls
d.
the dollar’s nominal exchange rate index remains constant
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Indexes of the Foreign Exchange Value of the Dollar: Nominal and Real Exchange Rates
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:43 AM
DATE MODIFIED:
7/5/2016 9:45 AM
164. Concerning the exchange rate index of the U.S. dollar, suppose that the dollar’s real exchange rate index falls from
125 to 110. This means that
a.
U.S. goods are less competitive on foreign markets
b.
U.S. goods are more competitive on foreign markets
c.
the dollar has appreciated against the currencies of its major trading partners
d.
U.S. price levels are identical to its trading partners
ANSWER:
b
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
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Page 68
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Indexes of the Foreign Exchange Value of the Dollar: Nominal and Real Exchange Rates
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:45 AM
DATE MODIFIED:
7/5/2016 9:52 AM
165. The pound shows a forward discount against the dollar (the forward rate is less than the spot rate) when
a.
interest rates in the United Kingdom are higher than those in the United States
b.
interest rates in the United Kingdom are lower than those in the United States
c.
real GDP is higher in the United Kingdom than in the United States
d.
real GDP is lower in the United Kingdom than in the United States
ANSWER:
a
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
The Forward Market
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 9:52 AM
DATE MODIFIED:
7/5/2016 9:54 AM
166. The pound shows a forward premium against the dollar (the forward rate is greater than the spot rate) when
a.
interest rates in the United Kingdom are higher than those in the United States
b.
interest rates in the United Kingdom are lower than those in the United States
c.
real GDP is higher in the United Kingdom than in the United States
d.
real GDP is lower in the United Kingdom than in the United States
ANSWER:
b
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
The Forward Market
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 9:54 AM
DATE MODIFIED:
7/5/2016 9:56 AM
167. Suppose you can make profits in the foreign exchange market by buying a foreign currency at a low price, then
selling it at a higher price later on. What you are engaging in is a
a.
discount position
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b.
premium position
c.
short position
d.
long position
ANSWER:
d
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
Foreign Exchange Market Speculation
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:56 AM
DATE MODIFIED:
7/5/2016 9:58 AM
168. You are engaging in a ______ if you initially sell a currency (that you do not own) at a high price, then buy it back
later on at a low price.
a.
discount position
b.
premium position
c.
short position
d.
long position
ANSWER:
c
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
Foreign Exchange Market Speculation
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 9:59 AM
DATE MODIFIED:
7/5/2016 10:01 AM
169. In 1987, currency speculator Andy Krieger made a lucrative currency trade. Believing that the New Zealand dollar
was overvalued, Krieger bet on its fall, selling hundreds of millions of dollars at a time and pushing its value down. He
profited by re-buying New Zealand dollars when the price bottomed out. What Krieger was engaging in was a (an)
a.
discount position
b.
premium position
c.
short position
d.
long position
ANSWER:
c
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
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Page 70
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
Foreign Exchange Market Speculation
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/5/2016 10:02 AM
DATE MODIFIED:
7/5/2016 10:07 AM
170. During 2012-2013, currency speculator George Soros made a lucrative currency trade. Having expectations of a
future depreciation of the yen, Soros made big bets against it. He sold large amounts of yen, pushed its value down, and
profited by re-buying the yen when its price bottomed out. What Soros was engaging in was a
a.
long position
b.
short position
c.
premium position
d.
discount position
ANSWER:
b
POINTS:
1
DIFFICULTY:
Moderate
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
Foreign Exchange Market Speculation
KEYWORDS:
BLOOM’S: Understand
DATE CREATED:
7/5/2016 10:08 AM
DATE MODIFIED:
7/5/2016 10:10 AM
171. When you arrive at Heathrow Airport in London and go to the foreign exchange kiosk to exchange dollars for
pounds, you are trading in the
a.
spot market
b.
forward market
c.
futures market
d.
options market
ANSWER:
a
POINTS:
1
DIFFICULTY:
Challenging
QUESTION TYPE:
Multiple Choice
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Analytic Reflective Thi – BUSPROG: Reflective Thinking
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
The Forward Market
KEYWORDS:
BLOOM’S: Apply
DATE CREATED:
7/5/2016 10:10 AM
DATE MODIFIED:
7/5/2016 10:12 AM
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172. Concerning foreign exchange trading, the bid rate refers to the price that a bank is willing to pay for a unit of foreign
currency; the offer rate is the price at which the bank is willing to sell a unit of foreign currency.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Interbank Trading
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 10:12 AM
DATE MODIFIED:
7/5/2016 10:13 AM
173. If a household purchases small amounts of foreign currency from an automated teller machine (ATM), typically
imposes an additional service charge for the transaction.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Monetary and fiscal policy
TOPICS:
Reading Foreign Exchange Quotations
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 10:14 AM
DATE MODIFIED:
7/5/2016 10:16 AM
174. The foreign exchange market refers to the organizational setting within which individuals and businesses, but not
government and banks, buy and sell foreign currencies and other debt instruments.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and
externalities
TOPICS:
Foreign Exchange Market
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Page 72
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 10:16 AM
DATE MODIFIED:
7/5/2016 10:17 AM
175. Most foreign exchange transactions involve the transfer of cash, rather than electronic balances, between commercial
banks or foreign exchange dealers.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Foreign Exchange Market
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 10:18 AM
DATE MODIFIED:
7/5/2016 10:19 AM
176. In recent years, the estimated amount of foreign exchange transactions is about $1 trillion a day.
a.
True
b.
False
ANSWER:
False
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: International trade and fi – DISC: International trade and finance
TOPICS:
Foreign Exchange Market
KEYWORDS:
BLOOM’S: Remember
DATE CREATED:
7/5/2016 10:19 AM
DATE MODIFIED:
7/5/2016 10:20 AM
177. Unlike stock or commodity exchanges, the foreign exchange market is not an organized structure; it has no
centralized meeting place and no formal requirements for participation.
a.
True
b.
False
ANSWER:
True
POINTS:
1
DIFFICULTY:
Easy
QUESTION TYPE:
True / False
HAS VARIABLES:
False
NATIONAL STANDARDS:
United States – BUSPROG: Promotion – BUSPROG: Analytic
STATE STANDARDS:
United States – PA – DISC: Markets, market failure, a – DISC: Markets, market failure, and