International Financial Management 8E - Eun - TBChapter 9

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1、ExamName___________________________________MULTIPLECHOICE.Choosetheonealternativethatbestcompletesthestatementoranswersthequestion.1)SupposetheU.S.dollarsubstantiallydepreciatesagainsttheJapaneseyen.Thechangein1)exchangerateA)canhavesignificanteconomicco

2、nsequencesforJapanesefirms.B)canhavesignificanteconomicconsequencesforbothU.S.andJapanesefirms.C)canhavesignificanteconomicconsequencesforU.S.firms.D)noneoftheoptionsAnswer:BTopic:HowtoMeasureEconomicExposure2)SupposetheU.S.dollarsubstantiallydepreciates

3、againsttheJapaneseyen.Thechangein2)exchangerateA)willtendtoweakenthecompetitivepositionofimport-competingU.S.carmakers.B)willtendtostrengthenthecompetitivepositionofJapanesecarmakersattheexpenseofU.S.makers.C)willtendtostrengthenthecompetitivepositionofi

4、mport-competingU.S.carmakers.D)noneoftheoptionsAnswer:CTopic:HowtoMeasureEconomicExposure3)Thelinkbetweenafirm'sfutureoperatingcashflowsandexchangeratefluctuationsis3)A)assetexposureandoperatingexposure.B)operatingexposure.C)assetexposure.D)noneoftheopti

5、onsAnswer:BTopic:HowtoMeasureEconomicExposure4)WhentheMexicanpesocollapsedin1994,decliningby37percent,4)A)U.S.firmswereunaffectedbythepesocollapse,sinceMexicoissuchasmallmarket.B)U.S.firmsthatexportedtoMexicoandpricedindollarswereadverselyaffected.C)U.S.

6、firmsthatexportedtoMexicoandpricedinpesowereadverselyaffected,andU.S.firmsthatexportedtoMexicoandpricedindollarswereadverselyaffected.D)U.S.firmsthatexportedtoMexicoandpricedinpesowereadverselyaffected.Answer:CTopic:HowtoMeasureEconomicExposure15)Whenexc

7、hangerateschange,5)A)U.S.firmsthatproducedomesticallyandsellonlytodomesticcustomerscanbeaffectediftheycompeteagainstimports.B)U.S.firmsthatproducedomesticallyandsellonlytodomesticcustomerswillbeaffected,butonlyiftheyborrowinforeigncurrencytofinancetheird

8、omesticoperations.C)U.S.firmsthatproducedomesticallyandsellonlytodomesticcustomerswillbeunaffected.D)U.S.firmsthatproducedomesticallyandsellonlytodomesticcustomerswillbeunaffected,andU.S.firmsthatproducedomesticallyandsell