想问下这个考的那个知识点呢？

问题如下：

McFadden describes monetary models by stating:“Monetary models of exchange rate determination focus on the effects of inflation, price level changes, and risk premium adjustments.”The least appropriate factor used to describe the type of models mentioned in the above Statement is:

选项：

A.inflation.

B.price level changes.

C.risk premium adjustments.

解释：

Risk premiums are more closely associated with the portfolio-balance approach. The portfolio balance approach addresses the impact of a country’s net foreign asset/liability position. Under the portfolio balance approach, investors are assumed to hold a diversified portfolio of assets including foreign and domestic bonds. Investors will hold a country’s bonds as long as they are compensated appropriately. Compensation may come in the form of higher interest rates and/or higher risk premium.

风险溢价与投资组合平衡方法的关系更为密切。投资组合平衡方法受到该国净境外资产/负债状况的影响。在投资组合平衡方法下，假设投资者持有包括外国和国内债券在内的多元化资产组合。投资者将持有一个国家的债券，只要他们得到适当的补偿。补偿的形式可能是更高的利率和/或更高的风险溢价。