DIŞ TİCARET - Deneme Sınavı - 6

Intellectual property rights
They are the rights that are given to people for the creations or innovations of their minds. Doğru yanıt " D " dir.

Rules of origin
They are the criteria required to determine the natural source of a commodity.  In order to avoid trade deflection, the rules of origin have to be taken into consideration. Doğru yanıt " E " dir.

Bretton Woods Conference held in July 1944 so as to discuss postwar international economic order. Correct answer is A.

The aim of World Bank has altered from reconstruction to development. Correct answer is B.

International Monetary Fund (IMF) was founded to ensure and sustain the stability of the international monetary system. Correct answer is C.

Regarding Turkey’s status within the Bretton Woods structure, Turkey has been a member of the World Bank since 11 March 1947. Correct answer is D.

The first Standby Arrangement with the IMF dates back to 1 January 1961. Since then, Turkey has concluded nineteen Standby Arrangements and the latest one was agreed on 11 May 2005 and expired on 10 May 2008. Correct answer is E.

As of 2019, the number of the WTO member countries increased to one hundred sixty-four. Correct answer is A.

Both the GATT and the WTO defend freer trade not intervention trade. Correct answer is B.

Export subsidies are subsidies that are given to an exporting firm by the government. Correct answer is C.

Red tape is a term that refers to the excessive bureaucratic requirements and implementations of the countries. Correct answer is D.

One of the most important dynamic effects of customs union is increased competition. Correct answer is E.

Foreign exchange rate: In order to buy a unit of currency, the amount that must be foregone in the other currency is the foreign exchange rate. In other words, the foreign exchange rate is the price of one unit of currency in terms of the other. The correct answer is " A ".

The rate of change in the nominal exchange rate is explained by two factors: the rate of change in the real exchange rate and the inflation differential between two countries. If we accept that the real exchange rate is constant, the difference between inflation rates of domestic and foreign countries is the basic factor that determines the rate of change in the nominal foreign exchange rate. Provided that the domestic inflation is higher than the foreign inflation, the change in the nominal exchange rate will be positive indicating an increase. The correct answer is " A ".

After shortly reviewing the conceptual issues about the foreign exchange rates, we want to express two important activities taking place in these markets: Speculation and arbitrage. Both of these activities are related to gain extra return benefiting from price differences. A speculation activity does this on the time dimension while an arbitrage activity does it on the place dimension. The correct answer is " C ".

In the foreign exchange market, there is another differentiation on the exchange rates: Spot and forward exchange rates. Spot exchange rate, a.k.a benchmark rate or outright rate, is the current exchange rate today for immediate delivery. The corect answer is " E ".

Determination of the equilibrium level of $/T exchange rate in the long run is not different from the price determination process. The correct answer is " B ".

Factors that cause a change in the equilibrium exchange rate are the factors which are accepted as constant other than the current exchange rate (the variable on the vertical axis of the figure). The correct answer is " A ".

In macroeconomics, these factors include the real GDP, relative productivity, relative price level, barriers for international trade (like tariffs and quotas) and preferences between imported and domestically produced goods. The correct answer is " C ".

Purchasing Power Parity (PPP) Theory is based on a principle known as “law of one price”. This law claims that the entirely homogeneous (identical) goods should be sold with the same price even in different markets. The correct answer is " B ".