Final Sınavı - Introduction to Economics 2

Soru 1:

................................. refers to intensity of the factors of production used in the production of a certain commodity. Which of the following completes the sentence above?

A) Exchange B) Factor intensity C) Factor abundance D) Economies of scale E) Imperfect competition

Soru 2:

Which of the following represents the sum of cash vault and demand deposits in the central bank and the other banks?

A) Assets B) Liabilities C) Claims D) Reserves E) Debts

Soru 3:

Which of the followings should we use to calculate how much it takes for GDP to double itself?

A) Rule of 70 B) Parameter A C) Economic growth rates of per capita D) Marginal product of labor E) Annual per capita growth rate

Soru 4:

Which of the following is defined as the situation in which prices increase while production decreases?

A) Cost-push inflation B) Price stability C) Aggregate supply curve D) Stagflation E) Demand-pull inflation

Soru 5:

What is the money in the form of demand deposits created by banks as a result of credit operations?

A) Electronic money B) Crypto money C) Commodity money D) Deposit money E) Fiat money

Soru 6:

Which one of the following is not true about expenditure-changing policies?

A) They are the fiscal and monetary policies. B) They change the volume of the total expenditure. C) They switch the total expenditure from imported commodities to domestic commodities or vice versa. D) The instruments of the fiscal policy are the public expenditure and taxes. E) The instruments of the monetary policy are the open market operations, reserve requirements and discount rates.

Soru 7:

What is the price of the bond which pays 100 liras annually if the interest rate is 0.125?

A) 125 B) 300 C) 500 D) 800 E) 1000

Soru 8:

Which of the following is the goal for open market operations?

A) Control domestic banks B) Protect domestic banks C) Lowering the investment expenditures D) Decrease the dangerous activities of banks E) Expand and restrict the reserves of banking system

Soru 9:

A tax or a duty levied on the traded commodity as it crosses a national boundary is called _______.

A) protectionism B) competition C) trade restriction D) revenue E) tariff

Soru 10:

In an economic environment where taxes and foreign trade are not included, which of the following should be used to define income according to usage?

A) Income = Consumption + Saving B) Income = Consumption + Saving + Investment C) Income = Consumption – (Saving + Investment) D) Income = Consumption E) Income = Consumption – Investment

Soru 11:

Which theory explains the reason of the differences in the relative commodity prices in autarky by using the factor intensity and factor abundance?

A) Standard Theory of International Trade B) Heckscher-Ohlin Theory C) Theory of Comparative Advantage D) Theory of Absolute Advantage E) Consumption and Production Theory

Soru 12:

What is the result of the continuous increases in general price level for a long time?

A) Cost-push inflation B) Stagflation C) Demand-pull inflation D) Inflation E) Leakage

Soru 13:

What is the name of the economic philosophy that starts the international trade theory?

A) Monetarism B) Mercantilism C) Trade-offing philosophy D) Neo-classical philosophy E) Win-win philosophy

Soru 14:

_____is a type of market structure showing some but not all the features of perfect competition.

A) Economies of scale B) Imperfect competition C) Factor abundance D) Factor intensity E) Non-tariff restriction

Soru 15:

_____ is the rise in the value of one currency in terms of another currency by the decision of the central bank.

A) Currency devaluation B) Currency revaluation C) Currency depreciation D) Currency appreciation E) None of the above

Soru 16:

Which of the following is not one of the factors of production?

A) Physical capital B) Labor C) Natural resources D) Entrepreneurship E) Taxes

Soru 17:

The interest rate influences the planned aggregate expenditures. What does this cause to be determined?

A) Tax level B) Stability level C) Production level D) Expenditure level E) Interest rates

Soru 18:

What is the nominal exchange rate weighted by the consumer price index of the two countries ?

A) Foreign exchange rate B) Equilibrium exchange rate C) Nominal exchange rate D) Virtual exchange rate E) Real exchange rate

Soru 19:

Which option below could be an example for fiat money?

A) Oil B) Silver C) Gold D) 50TL banknot E) Diamonds

Soru 20:

In which century did Sir Thomas Gresham live?

A) 17thcentury B) 16thcentury C) 18thcentury D) 19thcentury E) 15thcentury