国际财务管理期末重点【实用文档】doc文档可直接使用可编辑，欢迎下载2。Explaintheｍｅchaｎiｓmwhichrestｏreｓthebalａnceｏfpaymｅｎtseｑｕｉlibriuｍｗhenitisdiｓturbedundｅrtｈegｏlｄsｔanｄａrd。Aｎswer:Theaｄjustmｅnｔmechanismunｄeｒｔhｅgoｌdsｔanｄａrｄｉｓreferｒedtｏasthepricｅ－sｐｅciｅ-flｏwmeｃhanｉsmeｘpouｎdeｄｂyDavｉdHuｍｅ。Undeｒthｅｇolｄstandａｒｄ，ａbalａnceofｐayｍｅntｄiｓｅquilｉbriumwｉｌlbecorreｃteｄbyacoｕnｔｅr—flｏwofｇolｄ．SｕpｐosetｈａttheU.S.iｍporｔｓｍoreｆrｏmtheＵ.Ｋ.thaｎiteｘｐortstotｈeｌａｔter.Undertｈeｃｌassicalgｏldｓtaｎdard，golｄ,ｗhiｃhistｈeｏnｌｙmeanｓofinｔernatiｏnalpaymentｓ,willｆlowfｒomtheU．Ｓ.totheU.K.Aｓａrｅsult，theU.S。（U.K.）wiｌlexpeｒienceadecrease（incｒease）inmoneyｓｕpｐｌy。ThismeanｓthattheｐｒicｅleveｌwiｌltendtoｆallintheU。S.ａndriseintｈeＵ。K．Consequｅnｔlｙ，theU．S。pｒoductsbeｃoｍemoｒecｏmpeｔiｔiｖｅｉntheexportmａrkｅｔ，wｈilｅU．K．producｔsbecomelｅsscoｍpｅtitivｅ。ThischaｎｇｅｗillimprovｅＵ．S.ｂalanｃeｏfpａymentsandatthesａmeｔｉｍｅhurttｈeＵ。K.bａｌanｃｅｏfpayments，eｖentuallyeliminaｔinｇtheinｉtｉalBOPdiseｑuiliｂrｉum.１２.Oncecaｐitａlｍaｒketsareiｎｔｅgraｔed，ｉｔisdiffiｃｕltforaｃountrｙtomａｉｎｔａｉnaｆixedexｃhangeratｅ.Ｅｘpｌainwhythismaybesｏ.Ａnswｅr：Ｏｎcecapitalmarｋetsareintegratedinteｒnａtioｎaｌly，vastamouｎtsoｆmoneymayflowiｎandoutofacountrｙinasｈorttiｍepｅrioｄ．Ｔhiswｉllｍakeiｔverｙdｉfｆicultｆortheｃountrｙｔomaintainaｆixedexchangeratｅ。3．ＴheUnitｅdSｔateｓhasexperiencｅdcｏnｔinｕｏuｓcurrentａｃcoｕnｔdeｆicitssincethｅeａrly１9８0s。Wｈaｔdoyouthｉｎkarｅthemaincaｕsesｆｏrtheｄefiｃiｔs?ＷhatｗoulｄｂetheｃoｎｓequeｎｃeｓｏfcｏntｉｎｕousU．Ｓ.currentａccountdeficits?Answer：ThｅcurｒentacｃoｕnｔdeficitsofU．S．mayhａveｒeflectedaｆｅwreasonssｕcｈａｓ（Ｉ)ａｈiｓtorｉcallyhｉghｒｅalｉnterｅｓtrateintｈeU.S.，ｗhｉchisduｅtｏballoｏningfederalbudgeｔdeficｉｔｓ,ｔhaｔｋｅpttｈedolｌaｒｓtｒｏng，ａnｄ(iｉ）weａkcompetiｔｉｖeneｓsofｔｈeU．S.inｄustries.8.Explainhowtocompｕtｅｔheoveｒallbａｌａnceanddｉsｃusｓitssiｇｎifｉcａnｃe．Ａnsｗｅr：TｈｅovｅrallBOＰｉsdeｔerminｅｄbycｏmｐuｔｉngthecｕmuｌativｅbalanceｏfpaｙmeｎtｓｉnｃludｉｎgthecuｒrentaccount，caｐｉtａlacｃount,anｄｔhestａtiｓtｉcalｄｉscrｅｐancies．ThｅｏverallＢＯPissｉｇniｆicａｎtbeｃauseitinｄｉｃａtesａcｏｕｎｔｒy’siｎternaｔionalpaymeｎｔgaｐtｈａtmuｓｔｂefinaｎcedbythegｏvｅｒnmeｎt’sofｆiｃialresｅrveｔraｎｓaｃｔｉonｓ。9。Ｅxｐlａinａndcｏmpａrｅforwaｒdvs。backwａ