Introduction to Economics 2 Final 4. Deneme Sınavı
Toplam 20 Soru1.Soru
Which one of the following is not one of the factors affecting decrease in aggregate supply?
Increase in input prices
|
Increase in fees
|
Investment deficit
|
Technological progress |
Natural disasters and war |
Technological progress is one of the factors affecting increase in aggregate supply.
2.Soru
If a market has many companies selling the same product with no restrictions, we can talk about ______.
constant returns to scale
|
economies of scale
|
factor abundance
|
perfect competition |
comparative advantage |
Perfect competition is a market in which there are many firms each selling an identical commodity; there are many buyers; there are no restrictions on entry into and exit from the industry; firms in the industry have no advantage over potential new entrants; firms and buyers are well informed about the price of the commodity that each firm is produced.
3.Soru
- Economic growth is a broader concept than economic development.
- Economic growth reflects social and economic progress and requires economic development.
- Economic growth is a vital and necessary condition for development,
- but it is not a sufficient condition as it cannot guarantee development.
Which of the above statement is true about economic development?
I-III |
III-IV |
II-III |
I-II |
I-IV |
Economic development is a broader concept than economic growth. Economic development reflects social and economic progress and requires economic growth. Economic growth is a vital and necessary condition for development, but it is not a sufficient condition as it cannot guarantee development.
4.Soru
Which of the following is not included in assets of a bank’s balance sheet?
Time deposits
|
Securities
|
Cash vault
|
Loans |
Free reserves |
Since deposits (including time deposits) is a kind of debt for a bank, it must be located on the liabilities side of the bank’s balance sheet.
5.Soru
According to “the rule of 70”, how much does it take for a variable that grows at a pace of 30% in a year to double itself?
23 months
|
27 months
|
29 months
|
30 months |
33 months |
The rule of 70 allows us to easily calculate how much it takes for a variable to double itself. If a variable grows at a pace of x percent per year, then it will take approximately70/x years for that variable to double in value. In this case, 70/30 makes 2.3 years, which makes almost 27 months.
6.Soru
What is “commodity money”?
The object which has no value as a good
|
The object which has a value in purchasing goods and services
|
The object which has a value as a good
|
The object which has a value as a medium of exchange |
The object which has both a value as a good and a medium of exchange. |
Commodity money is the object which has both a value as a good and a medium of exchange.
7.Soru
From 2016 to 2017, if the nominal economic growth rate is 12.53 percent and for the same period the real rate is 4.38 percent, what is the result of price increases?
8.15
|
16.91
|
2.86
|
12.53 |
4.28 |
The result of price increases is calculated by extracting the real rate from the nominal economic growth. That is, 12.53-4.38=8.15.
8.Soru
Which of the followings is an example of “behind the border” restrictions?
Import quotas
|
Customs procedures
|
Production subsidies
|
Export bans |
Duties |
Non-tariff restrictions imposed in the national economy: Health standards, sanitary and phyto-sanitary standards, environmental standards, labor standards, product standards, production subsidies, internal charges, etc. This category of non-tariff restrictions are the behind-the border restrictions.
9.Soru
Who states that ‘the bad money drives out the good money in the market’?
Kuznets’ Law
|
Quesney’s Law
|
Keynes’ Law
|
Say’s Law |
Gresham’s Law |
Gresham’s Law states that the bad money drives out the good money in the market.
10.Soru
.………………is the number that represents, on average, how many times one unit of money is used for purchasing final goods and services.
Which terminology is defined above?
Equation of exchange
|
Neutrality of money
|
Velocity of money
|
Precautionary demand for money |
Speculative demand for money |
Velocity of money is the number that represents, on average, how many times one unit of money is used for purchasing final goods and services.
11.Soru
What is the situation in which prices increase while production decreases?
Inflation
|
Deflation
|
Recession
|
Stagflation |
Stagnation |
Stagflation is the situation in which prices increase while production decreases.
12.Soru
Which of the following is not related to the effects of increase in prices on the economy?
Interest rates
|
Quantity of money
|
Investments
|
Real GDP |
Deflation |
Deflation can be described as reduction of prices in an economy.
13.Soru
Which of the following provides output stability automatically in an economy?
Unflexible exchange rate system |
Expanded monetary policy system |
Free riding system |
International trade system |
Price stability |
According to the so-called divine coincidence in economics literature, output stability is provided automatically in an economy where price stability is provided.
14.Soru
Which of the following effect/s is/are not related to contractionary economic policies?
I. MS ↑ => AD shifts to the right
II. T ↓=> AD shifts to the right
III. MS ↓=> shifts to the left
IV. T ↑=> AD shifts to the left
I, II
|
I, III
|
I, IV
|
II, IV |
III, IV |
The effects in I and II are related to expansionary economic policies.
15.Soru
What is the main motive for international trade?
To adjust the balance of payments
|
To collect revenue to the treasury
|
To attract foreign direct investment
|
To increase the economic gains |
To have good diplomatic relations |
The main motive for international trade is to increase the economic gains or benefits not only for the individuals but also for the whole society.
16.Soru
Which of the following plays an important role in the emergence of demand-pull inflation as well as the consistent inflation?
Restrictive monetary policy |
Increase in raw materials |
Lowering the investment expenditure |
Decrease in the money demand |
Increase in the money supply |
The increase in the money supply plays an important role in the emergence of demand-pull inflation as well as the consistent inflation.
17.Soru
Which of the following is creation of the expansionary policy when the economy is operating in a region where the aggregate supply curve is steeper?
Great increase in production level |
Small increase in production level |
Small increase in price level |
No changes in price level |
No changes in production level |
if the economy is operating in a region where the aggregate supply curve is steeper, such as point B, an expansionary policy creates a small increase in production, while it causes a larger increase in the general price level.
18.Soru
How is general equilibrium determined?
By implementing expenditure changing policies
|
By implementing expenditure switching policies
|
By implementing both expenditure policies
|
By implementing fiscal and monetray policies |
By balancing import and export amounts |
General equilibrium is determined by the implementation of two economic policies: expenditure-changing policies and expenditure switching policies. In other words, internal equilibrium and external equilibrium is achieved by an effective implementation of the expenditure changing and expenditure-switching policies.
19.Soru
What is aggregate supply?
It is the total amount of foreign currency at various price levels in an economy.
|
It is the total amount of goods and services produced at the same price level in an economy.
|
It is the total amount of goods and services produced at various price levels in an economy.
|
It is the total amount of real income at various price levels in an economy. |
It is the total amount of real income at the same price level in an economy. |
Correct answer is C.
20.Soru
Which of the following criticisms against the use of HDI is arbitrary?
The HDI index does not distinguish between different rates of development within a country such as between urban and traditional rural communities. |
Giving equal weight to the three main components. |
Development is largely about freedom, but the index does not directly measure this. |
It uses GDP per capita, but there is no indication of the distribution of income in the country. |
The HDI excludes many aspects of economic and social life that could be regarded as contributing to or constraining development, such as crime, corruption, poverty, deprivation, and negative externalities. |
There are a number of criticisms against the use of HDI to represent the economic development, including:
- The HDI index does not distinguish between different rates of development within a country such as between urban and traditional rural communities.
- Giving equal weight to the three main components is rather arbitrary.
- Development is largely about freedom, but the index does not directly measure this.
- It uses GDP per capita, but there is no indication of the distribution of income in the country.
- The HDI excludes many aspects of economic and social life that could be regarded as contributing to or constraining development, such as crime, corruption, poverty, deprivation, and negative externalities.
-
- 1.SORU ÇÖZÜLMEDİ
- 2.SORU ÇÖZÜLMEDİ
- 3.SORU ÇÖZÜLMEDİ
- 4.SORU ÇÖZÜLMEDİ
- 5.SORU ÇÖZÜLMEDİ
- 6.SORU ÇÖZÜLMEDİ
- 7.SORU ÇÖZÜLMEDİ
- 8.SORU ÇÖZÜLMEDİ
- 9.SORU ÇÖZÜLMEDİ
- 10.SORU ÇÖZÜLMEDİ
- 11.SORU ÇÖZÜLMEDİ
- 12.SORU ÇÖZÜLMEDİ
- 13.SORU ÇÖZÜLMEDİ
- 14.SORU ÇÖZÜLMEDİ
- 15.SORU ÇÖZÜLMEDİ
- 16.SORU ÇÖZÜLMEDİ
- 17.SORU ÇÖZÜLMEDİ
- 18.SORU ÇÖZÜLMEDİ
- 19.SORU ÇÖZÜLMEDİ
- 20.SORU ÇÖZÜLMEDİ