Introductıon to Economıcs II (ENG) — 2021-2022 YO Çıkmış Sınav

1. I. Fiat money is the object which has no value as a good but has a value in purchasing goods and services. Il. Fiat money is the same form in every country. IlI. Today, fiat money forms the basis of the monetary system in many countries. Which of the following is true about fiat money? A) Only l sorular. B) Only lI C) Only III D) Iand Il E) land I|l

2. Which of the following is a non-tariff restrictions imposed on exports? A) Import quotas B) Voluntary export restraints C) Behind-the border restrictions Product standards E) Sanitary and phyto-sanitary standards

3. Which of the following is a measure of how quickly capital goods are growing in a country? A) Gross investments B) Net investments C) Spending on new buildings D) Stock changes E) Amortizations

4. Which of the following will not affect the expected profitability of investments? A) Value of the wealth B) Entry of new firms into the market C) General economic conditions in the country and the world Newly enacted laws E) Tax advantages provided by the government

5. I. The theory of absolute advantage postulates that if a country produces only the commodity that it can produce most efficiently and exchanges part of its output for the other commodities it demands, it would maximize its total output and welfare of its individuals. Il. The earliest international trade theory that proves a mutually beneficial trade is the theory of Adam Smith, namely the theory of absolute advantage. Ill. The theory of absolute advantage states that the way for a country to become powerful and rich is to export more but import less, such a policy entails a protectionist trade policy. Which of the above is true about the theory of absolute advantage? A) Only l B) Only lI C) I and il D) land Ill E) Il and I|l