TEST BANK
Essentials of Economics
N. Gregory Mankiw
9th Edition
, Essentials of Economics 9th Edition (Meyer, 2021) - Test Bank
Table of Contents
1. Introduction
Chapter 1. Ten Principles of Economics
Chapter 2. Thinking Like an Economist
Chapter 3. Interdependence and the Gains from Trade
2. How Markets Work
Chapter 4. The Market Forces of Supply and Demand
Chapter 5. Elasticity and Its Application
Chapter 6. Supply, Demand, and Government Policies
3. Markets and Welfare
Chapter 7. Consumers, Producers, and the Efficiency of Markets
Chapter 8. Application: The Costs of Taxation
Chapter 9. Application: International Trade
4. The Economics of the Public Sector
Chapter 10. Externalities
Chapter 11. Public Goods and Common Resources
5. Firm Behavior and the Organization of Industry
Chapter 12. The Costs of Production
Chapter 13. Firms in Competitive Markets
Chapter 14. Monopoly
6. The Data of Macroeconomics
Chapter 15. Measuring a Nation’s Income
Chapter 16. Measuring the Cost of Living
7. The Real Economy in the Long Run
Chapter 17. Production and Growth
Chapter 18. Saving, Investment, and the Financial System
Chapter 19. The Basic Tools of Finance
Chapter 20. Unemployment
8. Money and Prices in the Long Run
Chapter 21. The Monetary System
Chapter 22. Money Growth and Inflation
9. Short-Run Economic Fluctuations
Chapter 23. Aggregate Demand and Aggregate Supply
Chapter 24. The Influence of Monetary and Fiscal Policy on Aggregate Demand
, Essentials of Economics 9th Edition (Mankiw, 2021) - Test Bank
1. Ten Principles of Economics.
k k k k
1. ThekEnglishkwordkthatkcomeskfromkthekGreekkwordkfork"onekwhokmanageskakhousehold"kis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGkOBJECTIVES:k ECON.MANK.012k-
kApplykbasic,keconomickprincipleskofkindividualkdecisionk makingkthatkdetermi
nekhowkankeconomykgenerallykworks.
TOPICS: Economickthinking
KEYWORDS: BLOOM'S:kKnowledge
CUSTOMkID: 001.01.0k-kMCk-kMANK08
2. Thekwordk“economy”kcomeskfromkthekGreekkwordkoikonomos,kwhichkmeans
a. “environment.”
b. “production.”
c. “onekwhokmanageskakhousehold.”
d. “onekwhokmakeskdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGkOBJECTIVES:k ECON.MANK.012k-
kApplykbasic,keconomickprincipleskofkindividualkdecisionk makingkthatkdetermi
nekhowkankeconomykgenerallykworks.
TOPICS: Economickthinking
KEYWORDS: BLOOM'S:kKnowledge
CUSTOMkID: 002.01.0k-kMCk-kMANK08
3. Resourceskare
a. scarcekforkhouseholdskbutkplentifulkforkeconomies.
b. plentifulkforkhouseholdskbutkscarcekforkeconomies.
c. scarcekforkhouseholdskandkscarcekforkeconomies.
d. plentifulkforkhouseholdskandkplentifulkforkeconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGkOBJECTIVES:k ECON.MANK.012k-
kApplykbasic,keconomickprincipleskofkindividualkdecisionk makingkthatkdetermi
nekhowkankeconomykgenerallykworks.
TOPICS:
Pagek4
, Essentials of Economics 9th Edition (Mankiw, 2021) - Test Bank
Economickthinki
ngk Scarcity
KEYWORDS: BLOOM'S:kComprehension
CUSTOMkID: 003.01.0k-kMCk-kMANK08
4. Inkconsideringkhowktokallocatekitskscarcekresourceskamongkitskvariouskmembers,kakhouseholdkconsiders
Pagek5