Final Sınavı - Introduction to Economics 2

Soru 1:

Which one of the following is not one of the factors affecting decrease in aggregate supply?

A) Increase in input prices B) Increase in fees C) Investment deficit D) Technological progress E) Natural disasters and war

Soru 2:

If a market has many companies selling the same product with no restrictions, we can talk about ______.

A) constant returns to scale B) economies of scale C) factor abundance D) perfect competition E) comparative advantage

Soru 3:

Economic growth is a broader concept than economic development. Economic growth reflects social and economic progress and requires economic development. Economic growth is a vital and necessary condition for development, but it is not a sufficient condition as it cannot guarantee development. Which of the above statement is true about economic development?

A) I-III B) III-IV C) II-III D) I-II E) I-IV

Soru 4:

Which of the following is not included in assets of a bank’s balance sheet?

A) Time deposits B) Securities C) Cash vault D) Loans E) Free reserves

Soru 5:

According to “the rule of 70”, how much does it take for a variable that grows at a pace of 30% in a year to double itself?

A) 23 months B) 27 months C) 29 months D) 30 months E) 33 months

Soru 6:

What is “commodity money”?

A) The object which has no value as a good B) The object which has a value in purchasing goods and services C) The object which has a value as a good D) The object which has a value as a medium of exchange E) The object which has both a value as a good and a medium of exchange.

Soru 7:

From 2016 to 2017, if the nominal economic growth rate is 12.53 percent and for the same period the real rate is 4.38 percent, what is the result of price increases?

A) 8.15 B) 16.91 C) 2.86 D) 12.53 E) 4.28

Soru 8:

Which of the followings is an example of “behind the border” restrictions?

A) Import quotas B) Customs procedures C) Production subsidies D) Export bans E) Duties

Soru 9:

Who states that ‘the bad money drives out the good money in the market’?

A) Kuznets’ Law B) Quesney’s Law C) Keynes’ Law D) Say’s Law E) Gresham’s Law

Soru 10:

.………………is the number that represents, on average, how many times one unit of money is used for purchasing final goods and services. Which terminology is defined above?

A) Equation of exchange B) Neutrality of money C) Velocity of money D) Precautionary demand for money E) Speculative demand for money

Soru 11:

What is the situation in which prices increase while production decreases?

A) Inflation B) Deflation C) Recession D) Stagflation E) Stagnation

Soru 12:

Which of the following is not related to the effects of increase in prices on the economy?

A) Interest rates B) Quantity of money C) Investments D) Real GDP E) Deflation

Soru 13:

Which of the following provides output stability automatically in an economy?

A) Unflexible exchange rate system B) Expanded monetary policy system C) Free riding system D) International trade system E) Price stability

Soru 14:

Which of the following effect/s is/are not related to contractionary economic policies? I. MS ↑ => AD shifts to the right II. T ↓=> AD shifts to the right III. MS ↓=> shifts to the left IV. T ↑=> AD shifts to the left

A) I, II B) I, III C) I, IV D) II, IV E) III, IV

Soru 15:

What is the main motive for international trade?

A) To adjust the balance of payments B) To collect revenue to the treasury C) To attract foreign direct investment D) To increase the economic gains E) To have good diplomatic relations

Soru 16:

Which of the following plays an important role in the emergence of demand-pull inflation as well as the consistent inflation?

A) Restrictive monetary policy B) Increase in raw materials C) Lowering the investment expenditure D) Decrease in the money demand E) Increase in the money supply

Soru 17:

Which of the following is creation of the expansionary policy when the economy is operating in a region where the aggregate supply curve is steeper?

A) Great increase in production level B) Small increase in production level C) Small increase in price level D) No changes in price level E) No changes in production level

Soru 18:

How is general equilibrium determined?

A) By implementing expenditure changing policies B) By implementing expenditure switching policies C) By implementing both expenditure policies D) By implementing fiscal and monetray policies E) By balancing import and export amounts

Soru 19:

What is aggregate supply?

A) It is the total amount of foreign currency at various price levels in an economy. B) It is the total amount of goods and services produced at the same price level in an economy. C) It is the total amount of goods and services produced at various price levels in an economy. D) It is the total amount of real income at various price levels in an economy. E) It is the total amount of real income at the same price level in an economy.

Soru 20:

Which of the following criticisms against the use of HDI is arbitrary?

A) The HDI index does not distinguish between different rates of development within a country such as between urban and traditional rural communities. B) Giving equal weight to the three main components. C) Development is largely about freedom, but the index does not directly measure this. D) It uses GDP per capita, but there is no indication of the distribution of income in the country. E) The HDI excludes many aspects of economic and social life that could be regarded as contributing to or constraining development, such as crime, corruption, poverty, deprivation, and negative externalities.