Final Sınavı - Introduction to Economics 2

Soru 1:

.................................... is/are the change(s) in output produced that result(s) in one unit increase (change) in the capital stock. Which one of the following completes the sentence above?

A) Factors of production B) The production function C) The marginal product of capital D) The marginal product of labor E) Supply shocks

Soru 2:

Considering the equation of exchange, if the velocity of money is 4, the output level is 2000 liras and the money supply is 500 liras, what is the average selling price of each unit of production?

A) 0 B) 1 C) 4 D) 8 E) 10

Soru 3:

.......................... is the number that represents, on average, how many times one unit of money is used for purchasing final goods and services. Which one of the following below completes the sentence above?

A) Equation of exchange B) Neutrality of money C) Required reserve ratio D) Velocity of money E) Discount rate

Soru 4:

Which of the following is/are not among the functions of central bank? I. Ensuring and Maintaining Stability in Money Markets II. Serving as the Banker for Banks and as the Lender of Last Resort III. Performing Banking Transactions of the Government IV. Regulating Public Expenditures, Taxes and Disposable Income

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

Soru 5:

How can we define the general equilibrium of an economy?

A) It is the internal equilibrium by itself. B) It is the external equilibrium by itself. C) It is the budget balance. D) It is the total equilibrium of foreign and national investments. E) It is the concurrent equilibrium of the internal and external equilibrium.

Soru 6:

Cassical economists argue that the short-run supply curve is completely vertical or rather steep. What could be the reason for that?

A) Intense entry barriers to industries B) Firms’ low product range C) Government’s expanded monetary policy D) The economy is always at full of employment E) Highly concentrated markets

Soru 7:

In the situation of deflationary gap, what causes the loss of production?

A) Underemployment B) High taxes C) Aggregate supply D) Unplanned stocks E) Expenditures

Soru 8:

Which of the following could be the reaction for central bank’s decision to first raise money supply and then if economy recovers more than required and there are signs of inflationary threats?

A) Increasing the prices B) Increasing the interest rate C) Increasing the exports D) Decreasing supply E) No changes in production level

Soru 9:

Aggregate demand curve is the curve that shows the relationship between general price level and …………… level. According to the definition above, what best fits the blank so that the sentence is meaningful?

A) tax B) production C) income D) expenditure E) leakage

Soru 10:

Based on the 2010 constant prices, which of the following countries had a higher GDP per capita in 2016?

A) Japan B) Germany C) France D) U.K E) Spain

Soru 11:

According to growth accounting equation, which of the following is the main sources of growth?

A) Country’s quality of the natural resources B) Money flow growth C) Capital diferences D) Labor input growth E) Capital quality growth

Soru 12:

Which one of the following is about the Harrod Domar Model of economy?

A) It emphasizes how positive changes in investment spending causes an increase in an economy’s productive capacity. B) In this model, the term investment refers to a broader concept that not only includes the physical capital accumulation, but also includes research and development (R&D) expenditures and human capital formation. C) It implies that, with no productivity growth, the economy reaches a steady state, with constant capital-labor ratio, output per worker, and consumption per worker. D) It that an increase in the saving rate has no impact on the long-run rate of economic growth. E) In this model, economic growth and the growth of income per capita depends on broad investment rather than unexplained technological progress

Soru 13:

According to HDI (Human Development Index) figures for countries, which of the following is a mid HDI country?

A) Swaziland B) Ghana C) Liechtenstein D) New Zealand E) Nigeria

Soru 14:

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

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

Soru 15:

Which of the following best completes the sentence below? “According to classical economists effect of money on the economy occurs only by effecting _____”

A) price B) interest C) income D) demand E) reserves

Soru 16:

Which of the followings is not a component of a country’s capital stock?

A) plants B) machinery C) equipment D) infrastructure E) labor force

Soru 17:

.................. is the speed and easiness of an asset to convert currency or demand deposit or any other payment tool. Which one of the following below completes the sentence above?

A) Barter B) Near money C) Liquidity D) Gresham’s law E) Fiat money

Soru 18:

Which of the following does not exist in a bank’s balance sheet?

A) Loans B) Demand deposits C) Cash D) Financial transfers E) Securities

Soru 19:

What happens if interest rate reduces below the equilibrium level?

A) Decrease in interest rate B) Decrease in consumptions C) Excess money demand D) Increase in prices E) Excess unemployment

Soru 20:

What is the name of the international institution which is responsible for the global trade rules today?

A) World Bank B) International Monetary Fund C) International Trade Institution D) Global Trade Organization E) World Trade Organization