Introductıon to Economıcs I (ENG)
2022–2023 Yaz Okulu Çıkmış Soruları
- 20 soru
- Soru metinleri açık; şıklar ve cevap anahtarı uygulamada
- 1When both the price of a substitute and the price of a complement of commodity x rise, the demand for X -----. Which of the following completes the sentence above?
- Arises
- Bfalls
- Cremains unchanged
- Dremains unchanged if the commodity X is price elastic
- Ecan rise, fall, or remain unchanged depending on the relative strength of the two opposing forces
- 2Which of the following is the reason indifference curves are convex to the origin?
- AThe assumption of completeness of preferences
- BConsumers' irrational behaviors
- CThe assumption that consumer preferences are transitive
- DThe principle of diminishing marginal rate of substitution
- EThe assumption that more goods are preferable to fewer goods
- 3When the price of a substitute of commodity X falls, the demand for X- Which of the following completes the sentence above?
- Arises
- Bremains unchanged
- Cfalls
- Dremains unchanged if the commodity X is price inelastic
- Eremains unchanged if the commodity X is price elastic
- 4All decides to spend two hours playing soccer rather than working at his job which pays $10 per hour. Ali's tradeoff is -- Which of the following completes the sentence above?
- Anothing, because he spent $20 for the field fees to play soccer
- Bnothing, because he enjoys playing soccer more than working
- Cnothing, because it was a planned activity
- Dthe $20 he could have earned working tor two hours
- Ethe increase in skill he obtains from playing soccer for those two hours
- 5What will be the effect of a decrease in labor supply on the equilibrium wage and employment?
- AIt increases the equilibrium wage but employment decreases
- BIt decreases the equilibrium wage and increases employment
- CIt increases the equilibrium wage and employment
- DIt increases the equilibrium wage and employment does not change
- EIt decreases the equilibrium wage and employment
- 6What is a capital for a firm?
- AEquipment of production
- BProduction capacity
- CLong-term profit
- DMarket value of the firm
- EMarket power of the firm
- 7Which of the following is the correct way of calculating average product of labor?
- ATR/L
- BP/L
- CQ/L l
- DP*Q
- EL*Q
- 8The amount of maximum output that a firm can produce with different levels of labor for a given capital amount used is correctly called with which of the following concepts?
- AAverage product of labor (APL)
- BMarginal product of labor (MPL)
- CTotal product of labor (TPL)
- Dof. D) Marginal product of capital (MPK)
- EAverage product of capital (APK)
- 9Which of the following is a prerequisite for price discrimination?
- AEconomies of scale
- BA market with imperfect competition
- CLimited production rights
- DNetwork externalities
- EPerfect knowledge
- 10When total utility increases, marginal utility is Which of the following completes the sentence above?
- Anegative and declining
- Bpositive and declining orul
- Cnegative and increasing
- Dzero
- Epositive and increasing
- 11Which of the following never changes in the market of natural resources?
- ADemand
- BSupply
- CPrice
- DRenting costs
- ESlope of demand
- 12About the explicit costs, which of the following statement is not correct?
- AThese costs are figured out in terms of monetary outflows alone.
- BExplicit costs are direct expenditures or the price paid plainly for a project from an accountant's perspective.
- CExplicit costs are costs for which no direct payments are made but a firm incurs them when it gives up the next best alternative action or project.
- DThey involve direct monetary movements and comprise of wages, the cost of raw materials, interest payments, transportation, etc.
- EThese costs are sometimes referred to as accounting costs as to how an accountant would calculate them.
- 13What is the main cause of deadweight loss? A) Inefficient market B) Diminishing returns D) Network externalities f C) Economies of scale E) Perfect knowledge
- 14Which of the following is not an example of price ceiling?
- AIndexation of rents to the inflation rate by the government
- BDetermining the minimum level for wages by the government
- CGovernment assurance to buy all the meats at a specific price
- DDetermination of the maximum price for gasoline by the government
- EDetermination of the highest price for gold by the government
- 15Which of the following equation refers to the break-even point for a firm?
- ATR=AC
- BP=AVC
- CAR=TC
- DTR=TC
- EMR=MC
- 16In the short run, which of the following development can cause the market supply shifts to the rightward?
- AA decrease in labor productivity
- BNegative technological shocks
- CAn increase in production costs
- DA decrease in production costs
- EA decrease in the number of firms, i.e., firms exiting the industry
- 17If the price elasticity of supply is perfectly elastic, the shape of the supply curve will be-----. Which of the following completes the sentence above?
- Anegatively sloped
- Bpositively sloped
- Csteeper
- Dvertical
- Ehorizontal
- 18"The inability of the market to allocate society's Scarce resources efficiently to the best uses" is identified by -- Which of the following completes the sentence above?
- Aopportunity cost
- Bmarket power
- Cefficiency
- Dscarcity
- Emarket failure
- 19For a cartel, which of the following statement will be correct?
- AA cartel produces monopoly quantity at the monopoly price and creates a deadweight loss
- BA cartel produces monopoly quantity at the monopoly price and creates no deadweight loss
- CA cartel produces more than monopoly quantity and creates less amount of deadweight loss
- DA cartel produces less than monopoly and creates a larger deadweight loss
- EA cartel produces competitive market outcome at the monopoly price and does not create a deadweight loss
- 20If the market price is higher than the representative competitive firm's average cost, as a results the firm makes ——_-- economic profit in the short run. Which of the following completes the sentence above?
- Azero
- Binfinite
- Ccan not be known
- Dnegative
- Epositive