Final Sınavı - Introduction to Economics 2

Soru 1:

What is another name for production stability?

A) Expenditure B) Inflation C) Stagflation D) One-time price increase E) Output stability

Soru 2:

In which choice the terms of definitions are correctly matched? I. inflation caused by aggregate demand increases II. inflation that occurs as a result of increase in output costs

A) I. Stagflation, II. Cost-push inflation B) I. Cost-push inflation, II. Stagflation C) I. Demand-pull inflation, II. Cost-push inflation D) I. Cost-push inflation, II. Demand-pull inflation E) I. Demand-pull inflation, II. Stagflation

Soru 3:

Which of the following models relates economic growth to the nation’s savings rate?

A) The Solow Growth Model B) The Harrod-Domar model C) Endogenous Growth Model D) Standard Equilibrium Growth Model E) Proximate Growth Model

Soru 4:

Which of the following is the effect of an expansionary monetary policy on prices and production?

A) P↑ and Y↑ B) P↑ and Y↓ C) P↓ and Y↑ D) P↓ and Y↓ E) P↓ and Y does not change

Soru 5:

Which one of the following is not true about economic growth?

A) It is the percentage increase in the gross domestic product of nation from a period to another period of time. B) The time period is taken as quarterly, semi-annually and annually in the calculations of the changes in economic activity. C) It is the percentage change in GDP of a country from a year to another year. D) The economic growth can be positive only. E) If the change in GDP from a year to another year is positive, there is an economic expansion.

Soru 6:

The period when there is no international trade is called _______.

A) production possibilities frontier B) specialization C) autarky D) consumption possibilities frontier E) commodities

Soru 7:

Which of the following options gives the measurement of aggregate demand?

A) Average cost B) Marginal cost C) Real GDP D) Real inflation E) Nominal interest rate

Soru 8:

What is “fiat money”?

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

Soru 9:

_____ is the change in output produced that results in one unit increase (change) in the capital stock.

A) Real GDP B) Nominal GDP C) Production function D) The marginal product of labor E) The marginal product of capital

Soru 10:

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

A) Decrease in input prices B) Low wage level C) Economic growth D) Favorable weather conditions E) Increase in fees

Soru 11:

What is the factor that causes the decrease of the production amount when the general level of prices increases in the economy?

A) Money demand B) Money supply C) Interest rate D) Equilibrium price level E) Stagnation

Soru 12:

Which of the following is the main reason for the continuing inflation of an economy?

A) Decrease in interest rate B) Increase in money supply C) Variability in the capacity utilization rate D) Variability in unemployment rate E) Decrease in the openness of the economy

Soru 13:

Which of the following options is used to obtain the aggregate demand curve?

A) Marginal cost level- average cost level B) Total cost-production level C) Average cost level- production level D) General price level- marginal cost level E) General price level-production level

Soru 14:

Which of the following is the reason for aggregate demand to shift?

A) Changes in the international trade terms B) Changes in the money supply C) Changes in the marginal cost D) Changes in the export E) Changes in the total cost

Soru 15:

Which of the following is not true about the aggregate demand curve shifting to the right?

A) Aggregate demand increases B) Government expenditure increases C) Money supply increases D) Taxes decrease E) Public spending decreases

Soru 16:

Which of the following is not the components of a country’s financial system?

A) Interests B) Savers C) Investors D) Central bank E) Banks

Soru 17:

Which of the following is an example of commodity money?

A) Gold B) Tobacco C) Clothes D) Whale teeth E) Bread

Soru 18:

“_____ is the situation in which the general price level in the economy either changes very slowly or does not change at all.”

A) Production stability B) Price stability C) Inflation D) Stagflation E) Investment deficit

Soru 19:

Of the functions of Money, which one of the following is not about “medium of exchange”?

A) Being a measurement unit in quantifying the value of goods and services B) Simplifying and accelerating exchange process of goods and services C) Ensuring to keep purchasing power on hand D) Contributing to ensure and increase the efficiency in economy E) Being closely related with the prices of goods and services in the country

Soru 20:

What is is the boundary between those combinations of commodities and services that can be produced and those that cannot?

A) Production possibilities frontier B) Consumption possibilities frontier C) Terms of trade D) Theory of absolute advantage E) Heckscher-Ohlin theory