Foreıgn Trade Ara 3. Deneme Sınavı
Toplam 20 Soru1.Soru
Which one of the following is used when a decrease in the value of the national currency compared to a foreign currency occurs due to free floating of foreign exchange rate at foreign exchange rate market?
Currency depreciation |
Currency appreciation |
Revaluation |
Devaluation |
Foreign exchange rate |
Currency depreciation: Due to free floating of foreign exchange rate at foreign exchange rate market, a decrease in the value of the national currency compared to a foreign currency refers to currency depreciation.
2.Soru
Which one of the following is not among the main instruments of digital economy?
Internet of Things |
Artificial Intelligence |
Exchange rates |
Blockchain |
3D Printing |
Digital economy affects the international trade via new instruments. These new instruments have the potential of altering not only the way of trading and the profile of traders but also the commodities being traded. Main instruments of the digital economy which have started to affect the international trade are the Internet of Things, Artificial Intelligence, 3D Printing and Blockchain.
3.Soru
Which term describes the economic policy of a government that stresses non-interference in business?
Classical liberalism |
Homogeneous |
Laissez-faire |
Absolute advantage |
Labor productivity |
Laissez-faire means “leave it alone.” Usually it describes the economic policy of a government that stresses non-interference in business.
4.Soru
Before the mercantilist period, it was difficult to talk about a common foreign trade in the world. what was the only exception to this?
industrial revolution |
production boom |
silk road |
foreign trade policy |
nothing |
Mercantilism represented the dominant attitude toward international trade in the 17th and 18th centuries. Before the mercantilist period, it was difficult to talk about a common foreign trade in the world. The only exception to this situation silk road, which made Turkey a bridge between Europe and the Far East.
5.Soru
Who was Paul Samuelson ?
He translated, edited and introduced Heckscher-Ohlin Trade Theory. |
He was known as an American economist who wrote the largest-selling economics textbook ever in 1948, namely Economics: An Introductory Analysis. |
He developed the distribution of income effects of international trade. |
He improved the basic Heckscher-Ohlin Model by his assumptions on the relative factor prices. |
He lead to a balanced international trade, reminding the last simplifying assumption of the HeckscherOhlin Theory. |
Paul Samuelson (1915-2009) was an American economist who wrote the largest-selling economics textbook ever in 1948, namely Economics: An Introductory
Analysis. He explained the principles of Keynesian economics and the way of economics thinking in his widelyreferred book. This book of his has done its nineteenth edition and has been sold in almost forty languages. Apart from this book, he has various studies devoted to economics. He was the first American economist who won the Nobel prize in economics (MIT Economics). The correct answer is " B ".
6.Soru
- Hereditary skill
- Downsizing of subsidiaries
- Local market for skill
- Introduction to new ideas
- Specialized suppliers
Which of the above are among the advantages that an industrial district can create for the firms that operate within the same industry?
I, II and III |
III, IV and V |
I, II, IV and V |
I, III, IV and V |
II, III, IV and V |
Hereditary skill, local market for skill, introduction to new ideas and specialized suppliers are among the advantages that an industrial district can create for the firms that operate within the same industry. Rather than downsizing of subsidiaries, an industrial district can create growth of subsidiaries in that when firms are concentrated within a particular area, there will probably be new establishments in the form of subsidiaries; they will be the firms that supply materials or inputs to the industry. The correct answer is D.
7.Soru
"Advantageous trade can occur between countries if the countries differ in their __________ to produce goods and services."
What completes the above sentence?
resource endowments |
technological abilities |
demand |
economies of scale |
government policies |
Differences in Technology: Advantageous trade can occur between countries if the countries differ in their technological abilities to produce goods and services. Technology refers to the techniques used to turn resources- labour, capital, land into outputs -goods and services.
8.Soru
Which one of the following is not among the basic reasons why trade may take place?
Differences in Technology |
Differences in Resource Endowments |
Differences in Demand |
Existence of Economies of Scale in Production |
Differences in the stream of migration |
It is important to understand why trade takes place between countries. The five basic reasons why trade may take place are summarized as Differences in Technology, Differences in Resource Endowments, Differences in Demand, Existence of Economies of Scale in Production, Existence of Government Policies
9.Soru
Magnification effect implies that:
A change in the wage leads to a relatively more change on the demand for labor in the same direction. |
A change in the demand for a labor-intensive commodity leads to a relatively more change on the price of the commodity in the same direction. |
A change in the price of a commodity leads to a relatively more change on the income of the factor used intensively in its production in the same direction. |
A change in the demand for a capital-intensive commodity leads to relatively more change on demand for capital in the same direction. |
The amount of output increase will be relatively higher than the increase in the factors of production. |
Although the assumptions of the Stolper Samuelson Theorem seem logical, it constitutes the initial stage in explaining the distribution of income effects of international trade. The Theorem can be extended by taking into consideration the magnification effect. According to the magnification effect, an increase or a decrease in the price of a commodity has a greater effect in the same direction on the income of the factor used intensively in its production.
10.Soru
Which one of the following is an example of acquired advantage within the theory of absolute advantage?
Brazilian coffee |
Saudi Arabian Petroleum |
Turkish hazelnut |
Danish silver-cutlery sets |
Dutch tulips |
Absolute advantage occurs in two ways: Natural Advantage and Acquired Advantage (Daniels, 2004, p. 145).
a. Natural Advantage; A country’s advantage to other countries due to its climate, natural resources and labor ability. Ex.; Brazil-Coffee, Saudi Arabia-Petroleum, Turkey-Hazelnut
b. Acquired Advantage; A country’s advantage in terms of products. The advantage gained in product technology is that a country produces unique products that can be easily distinguished from its competitors. Ex.; Danish silver-cutlery sets, Kütahya ceramics and porcelain
11.Soru
Which of the following refers to exported and imported commodities of each nation?
Volume of trade |
Terms of trade |
Pattern of trade |
Foreign exchange rate |
Deterioration |
Pattern of trade or in other words the composition of trade, is another key term used in international trade analysis. Pattern of trade refers to exported and imported commodities of each nation. In conjunction with the growth of world economy, pattern of trade has also changed, reflecting the ongoing structural transformation. The correct answer is "C".
12.Soru
What is " Product Cycle Model "?
It rests on the recognition of dynamic changes that affect the manufactured commodities. |
It is constant in trading countries. |
It doesn't analyze the life and trade cycle of a new product manufactured by the innovating country. |
It tells the other main weaknesses of the Linder Model. |
It doesn't explain the effects of technological differences on international trade. |
Product Cycle Model rests on the recognition of dynamic changes that affect the manufactured commodities. The correct answer is " A ".
13.Soru
What is currency depreciation?
Lowering the value of the national currency |
Raising the value of the national currency |
Increasing the value of the national currency compared to a foreign currency |
Decreasing the value of the national currency compared to a foreign currency |
The price at which a currency is exchanged for the other currency |
Due to free floating of foreign exchange rate at foreign exchange rate market, a decrease in the value of the national currency compared to a foreign currency refers to currency depreciation. The correct answer is "D".
14.Soru
- Protect domestic producers
- Implement infant-industry argument
- Serve for diplomatic relations
- Collect revenue to the Treasury
Which of the above trade restriction aims are known as traditional aims of trade restrictions?
I-IV |
I-III |
II-III |
II-IV |
III-IV |
Countries usually resort to trade restrictions with various aims. Among them, most referred aims are to protect the domestic consumers, to collect revenue to the treasury, to adjust balance of payments, to implement infant- industry argument and to serve for diplomatic relations. The first two aims, namely to protect the domestic consumers and to collect revenue to the treasury, are referred as traditional aims of trade restrictions.
15.Soru
Who presented the notion of reciprocal demand?
Adam Smith |
Eli Heckscher |
John Maynard Keynes |
John Stuart Mill |
David Ricardo |
The notion of reciprocal demand was presented by John Stuart Mill, but the first
complete treatment is to be found in Marshall.
16.Soru
Which of the followings refers to the real side of international economics based on the physical movement of goods or services?
International trade. |
Barter. |
Balance of trade. |
Trade deficit. |
International money. |
International trade refers to the real side of international economics based on the physical movement of goods or services. Therefore, the correct option is A.
17.Soru
Which of the following economists developed a more detailed analysis on the differences in productivity?
Eli Heckschner and Bertil Ohlin |
Eli Heckschner and David Ricardo |
David Ricardo and Bertil Ohlin |
Adam Smith and David Ricardo |
Adam Smith and Bertil Ohlin |
Smith, Ricardo and the following early international trade economists assumed that each trading country would have its own production conditions, its own climate, its own geography and these differences between countries would lead to the differences in productivity. However, the economists of the twentieth century have extended the scope of the differences in productivity. The first studies in this respect are the models of the two Swedish economists, namely Eli Heckscher and Bertil Ohlin.
18.Soru
Which one of the following goods constituted the biggest share within the total merchandise exports in 2017?
Manufactures |
Fuels and mining products |
Agricultural products |
Chemicals |
Others |
According to the Figure 1.2, exports of manufactured goods constituted the biggest share within the total merchandise exports in 2017 with a percentage of 70.
19.Soru
What is the name of the curve that shows the alternative combinations of the two commodities that an economy can produce by fully utilizing all of its resources?
Constant opportunity cost |
Production Possibility Frontier-PPF |
Offer curve |
Autarky |
Opportunity costs |
Production Possibility Frontier-PPF is a curve that shows the alternative combinations of the two commodities that an economy can produce by fully utilizing all of its resources.
20.Soru
Which one of the following gives the nation’s offer of quantity of exports and import?
Reciprocal demand curve |
Opportunity cost |
Offer curve |
Constant opportunity cost |
Trade-off |
Offer curve: An offer curve gives the nation’s offer of quantity of exports and imports. In this respect, it demonstrates the nation’s supply (exports) and demand (imports) offers.
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