首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
The ratio between payments into and out of a country is known as the country’s balance of payments. Besides the value of imports
The ratio between payments into and out of a country is known as the country’s balance of payments. Besides the value of imports
admin
2010-07-06
32
问题
The ratio between payments into and out of a country is known as the country’s balance of payments. Besides the value of imports and exports (the balance of trade), the balance of payments includes private foreign loans (and interest); loans by governments, central banks, and international organizations; and movements of gold or reserve currencies.
An international medium of exchange is required for international trade. From the late 1800s until World War I, most countries operated on the gold standard. Gold coins of standard specifications circulated freely between countries, making gold in effect an international currency. This system provided an automatic correction for some trade imbalances, but it had little liquidity (the money supply could not expand as rapidly as required by expanding trade), and it was vulnerable to short-term changes in the gold supply.
After the financial instability of the 1930s, the international monetary system was rebuilt following World War Ⅱ on the gold-exchange standard. The values of most national currencies were fixed in relation to the U. S. dollar; reserves were kept in dollars, which could be exchanged on demand for gold at a set price (#35 on ounce until 1968). The International Monetary Fund (IMF), a key institution set up under this system, makes international loans with capital subscribed by its members which include most noncommunist states. Voting rights are proportional to the amounts subscribed. The IMF has been able, through its loans, to stabilize fluctuating currencies and to influence the internal financial policies of recipient countries, a frequently criticized practice.
The success of the gold-exchange standard, however, depended on the superior position of the United States in world trade. In the 1960s, continual balance of payments deficits lowered U. S. gold reserves and fatally undermined the system. In 1968 a two-tiered system was adopted. Government banks maintained fixed gold prices, while non-governmental buyers traded freely. Simultaneously, non-dollar special drawing rights (SDRs) were assigned to IMF members in proportion to their contributions. But these changes did not relieve strain on the U. S. dollar. In 1971 President Richard Nixon announced that dollars would no longer automatically be exchanged for gold, and since then there has been no single international monetary standard.
The gold standard had limited liquidity (paragraph 2) most probably because
选项
A、the money supply could grow no faster than the supply of gold.
B、it was impossible to convert the currency of one country into that of another.
C、the money supply varied independently of the gold supply.
D、a nation’s currency could not be freely converted into gold.
答案
A
解析
本题考查细节理解。根据limited liquidity(流动性限制)可确定答案所在的句子:This system provided an automatic correction for some trade imbalances,but it had little liquidity(the money supply could not expand as rapidly as required by expanding trade),and it was vulnerable to short-term changes in the gold supply.特别是括号中的解释(资金供养不能根据货币需要而增加),因此A 为正确答案。选项B ,C 和D 均与第二段内容相反。
转载请注明原文地址:https://kaotiyun.com/show/AhDd777K
本试题收录于:
公共英语四级笔试题库公共英语(PETS)分类
0
公共英语四级笔试
公共英语(PETS)
相关试题推荐
Psychologiststakecontrastiveviewsofhowexternalrewards,from【C1】______praisetocoldcash,affectmotivationandcreativit
Psychologiststakecontrastiveviewsofhowexternalrewards,from【C1】______praisetocoldcash,affectmotivationandcreativit
A=BOOK1B=BOOK2C=BOOK3D=BOOK4Whichbook(s)say(s)that...theclimateaffectsthefuturesustainableagricultural
TherecentsocialandeconomicchangesintheUShavegreatimpactonalltheAmericanhousingsystem.
Artwasherfavoritesubjectatschool,butshedidadegreeingeography.
WhoearnslessintheUnitedStatesthanthoseinmanyindustrializedcountries?TheUnitedStatesspendsmoremoneyonspecial
Accordingtothepassage,thechiefpurposeofexplorersingoingtounknownplacesinthepastwas______.Thepassagetellsu
WhatisEinstein’sgreatestcontributiontohumanbeings?
Beadswereprobablythefirstdurableornamentshumanspossessed,andtheintimaterelationshiptheyhadwiththeirownersisre
D.H.LawrenceisoneofthegreatestEnglishnovelistsofthe20thcentury,and,perhaps,thegreatestfromaworking-classfam
随机试题
A、Expanditsbusinessbeyondgroceries.B、Fire25000ofitscurrentemployees.C、CutitsDVDpublishingbusiness.D、Sellthebu
小儿感冒(AURI)病原90%以上是( )
梯度磁场的目的是
A.食少腹胀、便溏及气虚证并见B.体弱气坠,内脏下垂C.脾虚失运,消化机能减弱与虚寒证并见D.脾气虚证和出血表现E.脾胃纳运功能障碍及寒湿内盛并见
某水闸建筑在砂质壤土地基上,水闸每孔净宽8m,共3孔,采用平板闸门,闸门采用一台门式启闭机启闭,闸墩厚度为2m,因闸室的总宽度较小,故不分缝。闸底板的总宽度为30m,净宽为24m,底板顺水流方向长度为20m。施工中发现由于平板闸门主轨、侧轨安装出现严重偏差
()常被看作国民经济的“晴雨表”和“气象台”,是国民经济景气度指标的重要信号系统。
企业依据员工的职位、级别、能力和工作结果支付给员工的比较稳定的报酬称为()。
甲公司系增值税一般纳税人,购买或销售商品适用的增值税税率为17%。有关资料如下:资料一:2014年8月1日,甲公司从乙公司购入一台不需安装的A生产设备并投入使用,已取得增值税专用发票,价款为1000万元,增值税税额为170万元,款项尚未支付,付款期为3个
有如下程序:#includeusingnamespacestd;classA{public:A(){cout
Socialdistancemay【66】af______howopenlyemployeesspeakabouttheirwork.Peopleofthesame【67】r______maytalkfranklytoone
最新回复
(
0
)