对外经贸大学考研题库

Ⅰ.Check your comprehension

1．What is the balance of payments?

A．The balance of payments is a digital table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

B．The balance of payments is a figured table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

C．The balance of payments is a statistical record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

D．The balance of payments is a digital record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.

2．It is important to note that________.

A．citizenship and residency are the same thing from the viewpoint of the balance of payments statistics.

B．citizenship and residency are almost the same thing from the viewpoint of the balance of payments statistics.

C．citizenship and residency are indeed the same thing from the viewpoint of the balance of payments statistics.

D．citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics.

3．From where do the authorities collect their information?

A．They collect their information from the customs authorities,surveys of tourist numbers and expenditures,date on capital inflows and outflow obtained from banks,pension funds, multinationals and investment houses.

B．They collect their information from foreign authorities,surveys of tourist agencies and expenditures,date on capital inflow and outflow obtained from banks,and other sources.

C．They collect their information from local authorities,surveys of travel agencies and data on capital inflow and outflow from banks and other sources.

D．They collect their information from native authorities,surveys of travel agencies and data on capital inflow and outflow from banks and other sources.

4．An important point about a country’s balance-of-payments statistics is that________.

A.in an statistical sense it always balances.

B.in an accounting sense it always balances.

C.in an mathematical sense it always balances.

D.in an accountant sense it always balances.

5.A key component of the current account is the balance of trade,which is simply the ________between merchandise exports and merchandise imports.

A．difference

B．result

C．competition

D．compensation

6.The balance of payments is a measurement of all transactions between domestic and foreign residents________.A．in a year

B．at the end of a year

C．over a specified period of time

D．on a specified date

7.The current account represents________of the flow of funds between one specified country and all other countries due to the purchases of goods or services,or the provision of income on financial assets.

A．a record

B．a summary

C．difference

D．direction

8.Transactions that reflect inflows of funds to a country are posted on the________side on the balance of payments statement.

A．debit

B．reserve

C．deficit

D．credit

Ⅱ.Show how the following transactions are recorded in the BOP accounts.

Indicate whether each of the following items represents a debit or a credit on the U.S.balance of payments:

a)A U.S.importer purchases a shipload of French wine.

b)A Japanese automobile firm builds an assembly plant in Kentucky.

c)A British manufacturer exports machinery to Taiwan on a U.S.vessel.

d)A U.S.college student spends a year studying in Switzerland.

e)Japanese investors collect interest income on their holdings of U.S.government

securities.

f)Lloyds of London sells an insurance policy to a U.S.business firm.

g)A Swiss resident receives dividends on her IBM stock.

Ⅲ.Fill in the blanks with proper words or phrases

What are the benefits and risks of a persistent capital account surplus?Cloze

Debit surplus investment income credit

private transfer payments government transfer payments

current account capital account balancing item deficit

1．A Japanese manufacturer exports cars to the U.S.This should be entered on Japanese _________transactions.

2．When a nation's exports exceed its imports,it has a current account_________.

3．A_________transaction results in a payment to foreigners.

4．A purchase of a foreign stock should be entered on the_________of the balance of payments.

5．Interest,profits and dividends on investment abroad are_________,which should go into the current account_________.

6．When the purchase of foreign assets exceeds the sale of domestic assets,this country has acapital account_________.

7．The difference between the current account and the capital account is called the _________,which can be either positive or negative.

8．If a Chinese student studies in the U.S.for one year,his spending will be added to the_________of the U.S.balance of payments.

9．A terribly sick boy in Iraq receives a$10000donation from a U.S.resident,this amount will be included in_________on the Iraqi current account。

10.Chinese government gives both food and financial aid to Parkistan to relieve people there of the disastrous flooding.This will go in to_________on the Parkistan current account。

Ⅳ.Writing

Discuss the standard components of the BOP stipulated in the Balance of Payments Manual by IMF.