NYU International Economics Final Exam Ch 10-14 Questions & Answers 2024/2025
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NYU International Economics
Institution
NYU International Economics
NYU International Economics Final Exam Ch 10-14 Questions & Answers 2024/2025
Balance of Payments - ANSWERSRecord of the economic transactions between the residents of one country and the rest of the world.
Double Entry Accounting - ANSWERSArranging international transactions into a balance-o...
NYU International Economics Final
Exam Ch 10-14 Questions & Answers
2024/2025
Balance of Payments - ANSWERSRecord of the economic transactions between the residents of one
country and the rest of the world.
Double Entry Accounting - ANSWERSArranging international transactions into a balance-of-payments
account that requires each transaction to be entered as a credit or debit.
Credit Transaction - ANSWERSA receipt of a payment from foreigners
Debit Transaction - ANSWERSOne that leads to a payment to foreigners
Special Drawing Rights - ANSWERSA new reserve asset created by the IMF as a supplement to the
existing reserves of member countries
Current Account Deficit - ANSWERSMeaning that there is an excess of imports over exports
Current Account Surplus - ANSWERSMeaning that there is an excess of exports over imports
Foreign Exchange Market - ANSWERSOrganizational setting in which individuals, businesses,
governments, and banks buy and sell foreign currencies and other debt instruments.
, Foreign Exchange Market's 3 Levels - ANSWERS- Transactions between commercial banks and
commercial customers
- Domestic interbank market conducted through brokers
- Active trading in forex with banks overseas.
Types of Forex Transactions - ANSWERSSpot, Forward, and Swap
Forex Spot Transactions - ANSWERSOutright purchase or sale of a currency now, as in "on the spot"
Forex Forward Transactions - ANSWERSReceiving or paying an amount of foreign currency on a specific
date in the future
Forex Currency Swap - ANSWERSConversion of one currency to another at one point in time.
Interbank Trading - ANSWERS- Retail transactions
- Wholesale transactions
Forex Bid Rate - ANSWERSPrice that the bank is willing to pay for a unit of foreign currency
Forex Offer Rate - ANSWERSPrice at which bank is willing to sell a unit of foreign currency
Forex Spread - ANSWERSThe difference between bid and offer rate
Currency Depreciation - ANSWERSMore units of a currency is required to purchase another unit of a
foreign currency
Currency Appreciation - ANSWERSFewer units of a currency is required to purchase another unit of a
foreign currency
IMM (International Monetary Market) - ANSWERSChicago Mercantile Exchange
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