TestI
tem Fi
let
oAccompany
Pr
inci
plesofMi
croeconomi
csTestI
tem
File1
Ni
nthEdi
ti
on
by
Case/
Fai
r/Ost
er
Pr
ent
iceHal
l
Byßl
λçkđøl
lar
4
,Con
ten
ts
Ch
apt
er1 TheSc op ea ndMe thodofE c onomics 1
Ch
apt
er2 TheE con omicPr oblem: Sc arci
tyandCh oice 28
Ch
apt
er3 Dema nd, Supp l
y,andMa rketE qui
libr
ium 55
Ch
apt
er4 Dema nda ndSu pplyApp l
ica ti
ons 95
Ch
apt
er5 El
a sti
c it
y 1
16
Ch
apt
er6 Hou se holdBe haviorandCon sumerCh oic e 1
36
ThePr od uct
ionPr ocess: Th eBe h
a v
iorofPr ofi
t-Maxi
miz
ing
Ch
apt
er7 Fi
rms 1
73
Ch
apt
er8 Shor t
-Ru nCos t
sa ndOu tp utDe ci
si
on s 2
09
Ch
apt
er9 Lon g-RunCos tsan dOu tputDe cisi
ons 2
54
Ch
apt
er1
0 I
n putDe ma nd:Th eLabora ndL andMa r
k et
s 2
96
I
n putDe ma nd:Th eCap i
ta lMa rke
tsa ndI nvest
me nt
Ch
apt
er1
1 Dec i
sion 3
27
Gen eralE quil
ibri
u ma ndt heEf fi
ciencyofPe r
fect
Ch
apt
er1
2 Comp etiti
on 3
51
Ch
apt
er1
3 Mon op olya ndAn tit
rust 3
80
Ch
apt
er1
4 Oli
g op oly 4
27
Ch
apt
er1
5 Mon op olisti
cComp eti
tion 4
51
Ch
apt
er1
6 Extern al
ities,Publi
cGood s, I
mp erf
ectI nformati
on,
andSoc ialCh oice 4
78
Ch
apt
er1
7 Unc ertaintyan dAs ymme tricI n
formation 5
19
Ch
apt
er1
8 I
n comeDi st
ri
b uti
ona ndPov e r
ty 5
37
Ch
apt
er1
9 Pub l
icF inan ce:TheE con omi csofTa xation 5
66
I
n t
e rnationalTr ade,Comp arati
veAd vanta ge,a
nd
Ch
apt
er2
0 Protec ti
on i
sm 5
95
Ch
apt
er2
1 Econ omi cGr owthi nDe velop i
nga ndTr a
n sit
ionalEc
onomie
s632
,Ch
apt
er1Th
eSc
opea
ndMe
thodofEc
onomi
cs
1
.1Wh
ySt
udyE
con
omi
cs?
1Mu
lti
pleCh
oic
e
1
) Wh i
choft
hefol
lowin
gisNOTl
is
tedinth
eb ookasare
asontostu
dy
ec
on omics?
A)t
ol earnawayofth
inki
ng B)t ounder
standsoci
et
yandglob
a l
aff
air
s
C)t obeaninf
ormedvoter D)t
olearnhowtomakelot
sof
mon e y
Answe r
:D
Di
ff
: 1
Topi
c: WhySt
udyEcono
mics?
Sk
il
l:Fa c
t
2
)Amon gthefunda
me nt
alcon
cep
tsi
nec
onomicsar
e
A)op port
uni
tycost
. B)margi
nal
is
m.
C)e f
fi
c i
entmar
k e
ts. D)al
loft
heabov
e
Answer:D
Di
ff
: 1
To
pic:Wh yStu
dyEconomi
cs?
Sk
il
l:Fact
3
) Whic
hofthef ol
lowingisthebestdefi
ni
ti
onofe conomics?
A)thestud
yofh owi n
d i
vi
du al
sands oci
eti
esch oosetou s
et hescar
ce
resour
cest
h atnatureandp r
evi
ousg ener
ati
on sha vepr
ovided
B)thestudyofhowc on s
ume rsspe
n dthei
rincome
C)thestud
yofh owb usine
s sfi
rmsde c
idewhati np
u tstohir
ea ndwhat
output
stoprod uce
D)thestud
yofh owt hefedera
lgovernmental
loc at
est axdol
lars
Answer:A
Di
ff
: 2
To
pic:WhyStud
yE c o
n o
mi c
s?
Sk
il
l:Defi
ni
ti
on
4
) Th eri
seoft
hemod er
nfact
orys
yst
eminE ngl
andduri
ngthe
la
teeig
h t
eent
handearl
ynine
tee
nthcen
tur
iesi
sk nownasthe
A)Gr
eatMigr
ati
on. B)Ind
u s
tri
alRev
olut
ion
.
C)Weal
thofNat
ion
s. D)DarkAges.
, Answer:
B
Di
ff
: 1
To
pic:WhySt
udyE
con
omi
cs?
Sk
il
l:Fact
1
tem Fi
let
oAccompany
Pr
inci
plesofMi
croeconomi
csTestI
tem
File1
Ni
nthEdi
ti
on
by
Case/
Fai
r/Ost
er
Pr
ent
iceHal
l
Byßl
λçkđøl
lar
4
,Con
ten
ts
Ch
apt
er1 TheSc op ea ndMe thodofE c onomics 1
Ch
apt
er2 TheE con omicPr oblem: Sc arci
tyandCh oice 28
Ch
apt
er3 Dema nd, Supp l
y,andMa rketE qui
libr
ium 55
Ch
apt
er4 Dema nda ndSu pplyApp l
ica ti
ons 95
Ch
apt
er5 El
a sti
c it
y 1
16
Ch
apt
er6 Hou se holdBe haviorandCon sumerCh oic e 1
36
ThePr od uct
ionPr ocess: Th eBe h
a v
iorofPr ofi
t-Maxi
miz
ing
Ch
apt
er7 Fi
rms 1
73
Ch
apt
er8 Shor t
-Ru nCos t
sa ndOu tp utDe ci
si
on s 2
09
Ch
apt
er9 Lon g-RunCos tsan dOu tputDe cisi
ons 2
54
Ch
apt
er1
0 I
n putDe ma nd:Th eLabora ndL andMa r
k et
s 2
96
I
n putDe ma nd:Th eCap i
ta lMa rke
tsa ndI nvest
me nt
Ch
apt
er1
1 Dec i
sion 3
27
Gen eralE quil
ibri
u ma ndt heEf fi
ciencyofPe r
fect
Ch
apt
er1
2 Comp etiti
on 3
51
Ch
apt
er1
3 Mon op olya ndAn tit
rust 3
80
Ch
apt
er1
4 Oli
g op oly 4
27
Ch
apt
er1
5 Mon op olisti
cComp eti
tion 4
51
Ch
apt
er1
6 Extern al
ities,Publi
cGood s, I
mp erf
ectI nformati
on,
andSoc ialCh oice 4
78
Ch
apt
er1
7 Unc ertaintyan dAs ymme tricI n
formation 5
19
Ch
apt
er1
8 I
n comeDi st
ri
b uti
ona ndPov e r
ty 5
37
Ch
apt
er1
9 Pub l
icF inan ce:TheE con omi csofTa xation 5
66
I
n t
e rnationalTr ade,Comp arati
veAd vanta ge,a
nd
Ch
apt
er2
0 Protec ti
on i
sm 5
95
Ch
apt
er2
1 Econ omi cGr owthi nDe velop i
nga ndTr a
n sit
ionalEc
onomie
s632
,Ch
apt
er1Th
eSc
opea
ndMe
thodofEc
onomi
cs
1
.1Wh
ySt
udyE
con
omi
cs?
1Mu
lti
pleCh
oic
e
1
) Wh i
choft
hefol
lowin
gisNOTl
is
tedinth
eb ookasare
asontostu
dy
ec
on omics?
A)t
ol earnawayofth
inki
ng B)t ounder
standsoci
et
yandglob
a l
aff
air
s
C)t obeaninf
ormedvoter D)t
olearnhowtomakelot
sof
mon e y
Answe r
:D
Di
ff
: 1
Topi
c: WhySt
udyEcono
mics?
Sk
il
l:Fa c
t
2
)Amon gthefunda
me nt
alcon
cep
tsi
nec
onomicsar
e
A)op port
uni
tycost
. B)margi
nal
is
m.
C)e f
fi
c i
entmar
k e
ts. D)al
loft
heabov
e
Answer:D
Di
ff
: 1
To
pic:Wh yStu
dyEconomi
cs?
Sk
il
l:Fact
3
) Whic
hofthef ol
lowingisthebestdefi
ni
ti
onofe conomics?
A)thestud
yofh owi n
d i
vi
du al
sands oci
eti
esch oosetou s
et hescar
ce
resour
cest
h atnatureandp r
evi
ousg ener
ati
on sha vepr
ovided
B)thestudyofhowc on s
ume rsspe
n dthei
rincome
C)thestud
yofh owb usine
s sfi
rmsde c
idewhati np
u tstohir
ea ndwhat
output
stoprod uce
D)thestud
yofh owt hefedera
lgovernmental
loc at
est axdol
lars
Answer:A
Di
ff
: 2
To
pic:WhyStud
yE c o
n o
mi c
s?
Sk
il
l:Defi
ni
ti
on
4
) Th eri
seoft
hemod er
nfact
orys
yst
eminE ngl
andduri
ngthe
la
teeig
h t
eent
handearl
ynine
tee
nthcen
tur
iesi
sk nownasthe
A)Gr
eatMigr
ati
on. B)Ind
u s
tri
alRev
olut
ion
.
C)Weal
thofNat
ion
s. D)DarkAges.
, Answer:
B
Di
ff
: 1
To
pic:WhySt
udyE
con
omi
cs?
Sk
il
l:Fact
1
