Foreıgn Trade Ara 6. Deneme Sınavı
Toplam 20 Soru1.Soru
What is overlapping Demands Model referred as?
Hechsner Model |
Ohlin Model |
Linder Model |
Restrictions Model |
Unemployment model |
Overlapping Demands Model is usually referred as Linder Model.
2.Soru
According to David Hume’s “the specie-flow theory” what happens to the prices of goods in that country if a country’s net exports increased and more gold flowed into a country?
the prices of goods in that country would do not change, |
the prices of goods in that country would rise, |
the prices of goods in that country would decrease, |
the prices of goods in that country would rise one year and decrease in following year, |
the prices of goods in that country do not depend on trade, |
THE RISE OF INTERNATIONAL TRADE THEORY AND MERCANTILISM
David Hume constructed what has become known as the specie-flow theory of the movement of money and goods between nations to assure equilibrium among international prices and the distribution of specie (or commodity) money among countries that are trading with each other. Hume explained that as net exports increased and more gold flowed into a country to pay for them, the prices of goods in that country would rise. Thus, an increased flow of gold into England would not necessarily increase England’s wealth substantially.
3.Soru
Which definition is correct for the concept of " product differentiation "?
lt is good at predicting the pattern of international trade. |
It explains demand oriented model of international trade. |
It determines the comparative advantage of the trading countries. |
Producing a commodity slightly different from the commodity produced by the |
It helps you to find out the pattern of trade. |
Product differentiation: Producing a commodity slightly different from the commodity produced by the competitor is called product differentiation. The correct answer is " D ".
4.Soru
How many simplifying assumptions does The Heckscher-Ohlin Theory stand on?
3 |
5 |
8 |
10 |
12 |
The Factor Endowments and the HeckscherOhlin Theory, or simply the Heckscher Ohlin Theory, developed upon the weaknesses of the previous theories has some simplifying assumptions. Instead of examining them at the stage where the analysis stands, it’d be more effective to give them before starting to analyze the theory as a whole. The Heckscher-Ohlin Theory stands on twelve simplifying assumptions. The correct answer is " E ".
5.Soru
What does the real side of international economics refer to?
International trade |
International money |
Barter |
Investment flow |
Balance of trade |
The discipline of international economics is composed of two main parts: International trade and international money. International trade refers to the real side of international economics while international money refers to the monetary side of international economics. The correct answer is "A".
6.Soru
In which of the following conditions do potatoes and rice become inferior goods?
When the demand for a certain commodity decreases while the income increases. |
When the demand for a certain commodity increases while the income increases. |
When the demand for a certain commodity decreases while the income decreases. |
When the increase in the demand for a certain commodity is smaller than the increase in income. |
When the increase in the demand for a certain commodity is greater than the increase in income. |
One of the ranges of income elasticity of demand, inferior goods refers to the circumstance when the demand for a certain commodity decreases while the income increases. Potatoes and rice can be taken as examples for inferior goods. The correct answer is A.
7.Soru
What refers to the circumstance when the demand for a certain commodity decreases while the income increases?
Income elastic demand |
Income inelastic demand |
Linder model |
Inferior goods |
Hechsner theory |
Inferior goods: It refers to the circumstance when the demand for a certain commodity decreases while the income increases. Potatoes and rice can be taken as examples for inferior goods. Inferior goods are the commodities that low-income consumers demand.
8.Soru
What refers to a condition of decreasing cost of a unit of commodity while its output rate increasing?
Increasing returns to scale |
New international trade theories |
Factor-intensity reversal |
Factor price index |
Unemployment rate |
Increasing returns to scale:
It refers to a condition of decreasing cost of a unit of commodity while its output rate increasing.
9.Soru
What is the name of the term that in economic theory, represents the situation in which one part gains in the expense of the other part?
Neomercantilist |
Zero-sum game |
Mercantilism |
Laissez-faire |
Homogeneous |
In economic theory, zerosum game represents the situation in which one part gains in the expense of the other part.
10.Soru
Which one of the following terms refers to raising the value of the national currency by the decision of the Central Bank?
Foreign exchange rate |
Devaluation |
Currency depreciation |
Revaluation |
Currency appreciation |
Revaluation: Raising the value of the national currency by the decision of the Central Bank is referred to revaluation.
11.Soru
I. Protect international companies
II. Collect revenue to the Treasury
III. Serve for diplomatic relations
Which one(s) of these is/are among the main aims of trade restrictions?
Only I |
Only II |
Only III |
I-II |
II-III |
Main Aims of Trade Restrictions are:
- Protect domestic producers
- Collect revenue to the Treasury
- Adjust balance of payment
- Implement infant-industry argument
- Serve for diplomatic relations
12.Soru
Which of the following is not one of the subjects that the international money part deals with?
Financial transactions |
Foreign exchange markets |
Physical movement of goods or services |
Foreign exchange rate systems |
Payments among the nations |
The international money part deals with the financial transactions like foreign exchange, foreign exchange markets, foreign exchange rate systems, payments among the nations, investment flows, and balance of payments.The correct answer is "C".
13.Soru
" Almost all the international trade models assume that international trade is ................ ".
Which of the following choices completes the blank correctly?
a perfectly competitive market |
a different market type |
lower earning |
free |
a production type |
There is free trade between the trading countries: This assumption postulates that there are no obstacles on the free movement of commodities such as tariffs or non-tariff restrictions. Moreover, there are no transportation costs that can constitute a restriction on the free trade. The correct answer is " D ".
14.Soru
According to The Product Cycle Model, in which stage does the production of the new product within the innovating country decrease rapidly since the imitating country undersells it in its domestic market?
new-product stage |
product-growth stage |
product-maturity stage |
product-standardization |
product-decline stage |
The fifth and the last stage is the product-decline stage, which refers to the time frame starting with Z. In the fifth stage, the production of the new product within the innovating country decreases rapidly since the imitating country undersells it in its domestic market. In other words, it becomes impossible for the innovating country to compete with the imitating country both in the domestic and international market.
15.Soru
Which of the following choices is false related to the " Characteristics of a Perfectly Competitive Market "?
There are many firms producing a homogenous commodity. |
There are many consumers. |
Demand preferences are the same in both countries. |
It’s easy to enter in and exit out. |
Firms and consumers are well-informed. |
In a perfectly competitive market or simply in perfect competition, there are many firms that are producing a homogeneous commodity. Thus, the commodit-ies within the market are identical in every respect. There are many consumers who are ready to buy the commodities that are produced identically. As there are no restrictions imposed, it’s easy for the new firms to enter into the market and for the existing firms to exit out from the market. The participants of the market, the firms and the consumers are well-informed about the prices and
the facts related with the market. The correct answer is " C ".
16.Soru
Who is the writer of The Wealth of Nations?
David Ricardo |
Adam Smith |
John Stuart Mill |
Alfred Marshall |
Paul Samuelson |
The first scientific study of international trade begins with Adam Smith’s famous book, The Wealth of Nations, published in 1776.
17.Soru
Which one defines the concept of volume of trade correctly?
It gives the total amount of imports and exports. |
It gives the difference between total imports and total exports. |
There is a trade deficit. |
It means that there is a trade surplus. |
None of them defines it correctly. |
Defining the key terms and concepts has to start with the term volume of trade. Volume of trade gives the total amount of imports and exports. Doğru yanıt " A " dır.
18.Soru
Which of the following choices " explains the situation in which a commodity is the labor-intensive commodity in the labor-abundant country and the capital-intensive commodity in the capital-abundant country "?
Factor-Intensity Reversal |
Specific Factors Model |
Leontief Paradox |
Hecskcher-Ohlin Theory |
Human Capital |
Factor-Intensity Reversal explains the situation in which a commodity is the labor-intensive commodity in the labor-abundant country and the capital intensive commodity in the capitalabundant country. The Factor-Intensity Reversal rests on the elasticity of substitution of factors of production. Elasticity of substitution of factors of production measures the ease with which one factor of production can be substituted for another within the production as the relative price of the factor declines. The correct answer is " A ".
19.Soru
Which of the following is an explanation for ‘economies of scale’?
It is producing a commodity slightly different from the commodity produced by the competitor. |
It refers to the same amount of output increase with the increase within the factors of production. |
It exists when the increase in the output is proportionally more than the increase in the input. |
It refers to a reduction in the average cost of a firm in conjunction with the increase within the size of the industry. |
It refers to a reduction in the average cost of a firm that is peculiar to the increase within the scale of the firm itself. |
Economies of scale exist when the increase in the output is proportionally more than the increase in the input. Producing a commodity slightly different from the commodity produced by the competitor is called product differentiation. Constant returns to scale refers to the same amount of output increase with the increase within the factors of production. External economies of scale refers to a reduction in the average cost of a firm in conjunction with the increase within the size of the industry. Internal economies of scale refers to a reduction in the average cost of a firm that is peculiar to the increase within the scale of the firm itself.
20.Soru
- Product-decline stage
- New-product stage
- Product-maturity stage
- Product-growth stage
- Product standardization stage
In which of the following is the order of the five stages of Product Cycle Model given correctly?
II-III-IV-V-I |
II-IV-III-V-I |
II-IV-I-V-III |
II-III-IV-I-V |
II-IV-V-III-I |
Product Cycle Model divides the life cycle of a new product into five stages: new-product stage, product-growth stage, product-maturity stage, product-standardization stage and product-decline stage (II-IV-III-V-I). The correct answer is B.
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