USCPA每日一练之BEC【2015-12-18】

高顿网校2015-12-18 09:38Lynn.yu
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Freely fluctuating exchange rate perform which of the following functions?

A. It automatically corrects a lack of equilibrium in the balance of payments.

B. It makes imports cheaper and exports more expensive.

C. It imposes constraints on the domestic economy.

D. It eliminates the need for foreign currency hedging.

Answer:A

A is correct. Freely fluctuating exchange rates automatically correct a lack of equilibrium in the balance of payments by r*uing currencies. B is incorrect. The price of imports and exports depends on many factors in addition to the exchange rate.

C is incorrect. Freely fluctuating exchange rates impose no constraints on a domestic economy.

D is incorrect. Freely fluctuating exchange rates increase the need for foreign currency hedging because rates are more volatile.

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