Final Sınavı - Introduction to Economics 2

Soru 1:

What do the factors that cause aggregate demand curve to shift right and aggregate supply curve to shift left create?

A) Continuously increasing money supply B) Tax increases C) One-time price increase D) Continuous price increases E) Cost-push inflation

Soru 2:

Which of the following causes the aggregate demand curve to shift rightward?

A) War B) Naturel disasters C) Drought D) Economic growth E) Decrease in the capital stock

Soru 3:

Which of the following is true about WTO (World Trade Organization?

A) It was established in 1947. B) It has succeeded to reduce the tariffs. C) It prevented the use of non-tariff restrictions D) It covers only the rules about commodity trade E) It ended the era of new protectionism

Soru 4:

What is the gain of investors from international economic transactions?

A) Increasing the production speed B) Helping to lower inflation rate C) Choosing the most profitable investment D) Higher GDP E) Lower production cost

Soru 5:

How does the nominal exchange rate weighted by the consumer price index of the two countries refer to?

A) Nominal exchange rate B) Equilibrium exchange rate C) Real exchange rate D) Cross exchange rate E) Market exchange rate

Soru 6:

Which of the following is defined as the cost changes that cause the displacement of the aggregate supply curve?

A) Investment gap B) Demand shock C) Money supply D) Supply shock E) Equilibrium price

Soru 7:

Which of the following is not one of the functions of money?

A) Serving as a Unit of Account B) Serving as a Store of Value C) Serving as a Medium of Exchange D) Serving as a Purchasing Power E) Serving as a Peace of Society

Soru 8:

Which one of the following is not true about General Agreement on Tariffs and Trade (GATT)?

A) The GATT has reduced tariffs. B) The GATT organized a series of negotiations, known as trade rounds that resulted tariff reductions in a steady way C) Uruguay Round is the most well-known trade round. D) The GATT covers the rules and regulations of international commodity trade. E) WTO (World Trade Organization) is the main agreement which consists of rules on commodity trade.

Soru 9:

Which of the following best completes the sentence below? “_____is/are central bank’s purchasing and selling transactions of government securities in interbank market in order to affect the level of banking system’s reserves and, therefore, supply of money”

A) Expansionary (loosening) monetary policy B) Contractionary (tightening) monetary policy C) Discount rate D) Required reserved ratio E) Open market operations

Soru 10:

Which of the following option is the reason for people to hold money in their wallet?

A) Variety of the products B) Other customers’ tastes C) Prices of the goods and services D) Number of the firms E) Number of the customers

Soru 11:

Which of the following is equal to CPF (consumption possibilities frontier) at the autarky?

A) Budget Line B) PPF C) MC D) TAC E) TU

Soru 12:

Which of the following option explains inefficiency of bartering?

A) Cause low labor quality B) Production costs of products are not equal C) No middle man in the market D) No special market space E) Prevent specialization in division of labor

Soru 13:

What is the result when the cost of producing a unit of a commodity falls as its output rate increase?

A) Economics of scale B) Imperfect competition C) Factor abundance D) Capital-intensive commodity E) Absolute advantage

Soru 14:

Which of the following is the fact that the early trade theories did not take into consideration ?

A) Imperfect competition B) High investment cost C) Low household savings D) Labor’s low qualification E) High capital flow

Soru 15:

_____ is the increase (change) in the output produced that results in one-unit increase (change) in labor input.

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

Soru 16:

If the government increases its expenditures by 100 liras and completely finances it by increasing taxes, what is the value of change in GDP?

A) 100 liras increase B) 100 liras decrease C) 200 liras increase D) GDP does not change E) The change cannot be calculated without knowing the value of marginal propensity to consume or to save

Soru 17:

Which of the following is the main sub-account of Capital and Financial Account?

A) Patent rights B) Financial account C) Intellectual property rights and licenses D) Commodity exports E) Balance of payments

Soru 18:

Which of the following occurs if there aren’t sufficient additions to capital stock of the economy?

A) Capital stock decreases and then aggregate supply curve shifts to the right B) Capital stock decreases and then aggregate supply curve shifts to the left C) Capital stock increases and then aggregate supply curve shifts to the left D) Capital stock increases and then aggregate supply curve shifts to the right E) Capital stock stays constant and then aggregate supply curve does not shift

Soru 19:

What is the goal of a contractionary economic policy?

A) Increasing money supply B) Decreasing consumptions C) Reducing aggregate demand D) Increasing expenditure E) Controlling unemployment

Soru 20:

Which of the following occurs in an economy where the stagflation is experienced?

A) Production and prices increase B) Production and prices decrease C) Production increases while prices decrease D) Production decreases while prices increase E) Production does not change while prices decrease