Deneme Sınavı Soruları

Prices

Wages

Aggregate demand

Aggregate supply

Profit

0.3

0.4

0.5

0.6

0.7

Only I

Only II

I and II

I and III

II and III

sales

profit

interest rate

exchange rate

expectations

In case of supply surplus the price mechanism returns the market to the equilibrium level.

Every supply creates its own demand. 

The economy is in constant balance, that is, at full employment. 

Investment and saving equality can always be provided.

Equilibrium income can be achieved at the level of underemployment or overemployment.

1

2

3

4

5

total production

GDP

average cost

productivity

growth

" interest rate is the key variable to provide this equality. "

" the economic equilibrium, as put forward by Classical economists, does not mean that the level of full employment income is provided at the same time. "

" The Classics’ answer to this question is that savings of the production factors
are invested by the firms. "

" the prices of production factors will also fall due to the dynamics of perfect competition market. "

" it is also the point of equilibrium where full employment level is achieved in the labor market. "

Employment policy, monetary policy and supply-side policies

Fiscal policy, monetary policy and supply-side policies

Fiscal policy, monetary policy and demand-side policies

Monetary policy, banking policy and demand-side policies

Industrial policy, monetary policy and demand-side policies

  - Taxes

+ Indirect Taxes

- Imports

+ Amortization

+ Transfer payments

Advanced goods

Intermetidate good 

Basic goods

Nonrefundable goods

Giffen goods

Fiscal Policy

Savings, employment and exports

Savings, employment and imports

Savings, investments and exports

Savings, taxes and imports

Savings, investments and imports

Average propensity to consume

Average propensity to save

Marginal propensity to consume

Marginal propensity to save

Marginal propensity to Expenditures

Income 

Expenditure

Equilibrium

Production

Demand

Average propensity to consume

Average propensity to save

Marginal propensity to consume

Marginal propensity to save

Marginal propensity to Expenditures

Autonomous tax is the part of total taxes that is dependent on income,

Autonomous tax is the part of total taxes that is independent of national income,

Autonomous tax is the part of total taxes that is dependent on income and food expenditures,

Autonomous tax is the part of total taxes that is independent of income,

Autonomous tax is the inflation tax.

It is the decisions related to taxes that government collects and expenditures that government makes,

It is the measures that the central bank takes to control the quantity of money in the economy,

It is the decisions related to taxes that government collects,

It is the decisions related to expenditures that government makes,

It is the decisions related to taxes that government collects and money supply that circulates in the economy,

0.2

0.4

0.6

0.8

0.9

Keynes strongly defended the idea that the employment was determined by prices and wages.

Keynes developed the opinion that the aggregate demand for goods and services produced in the economy was the main factor determining the employment

The state may get involved in economy to prevent the decrease of employment.

Government should intervene to economy by supporting the aggregate demand.

The state needs to interfere in economy by means of supporting to prevent the decrease of production.