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Test bank Apply basic, economic principles of individual decision making

Name: Test bank Apply basic, economic principles of individual decision making
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Test bank Apply basic, economic principles of individual decision making

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CopyrightyCengageyLearning.yPoweredybyyCognero.
Pagey1y
1.yWhichyofytheyfollowingyisynotycorrect?
a.yEconomistsyuseysomeyfamiliarywordsyinyspecializedyways.
b.yEconomicsyhasyitsyownylanguageyandyitsyownywayyofythinking,ybutyfewyotheryfieldsyofystudy
ydo.

c.ySupply,ydemand,yelasticity,ycomparativeyadvantage,yconsumerysurplus,yandydeadweightylo
ssyareyallytermsythaty
areypartyofytheyeconomist’sylanguage.
d.yTheyvalueyofytheyeconomist’sylanguageyliesyinyitsyabilityytoyprovideyyouywithyaynewyandyuse
fulywayyofythinkingy
aboutytheyworldyinywhichyyouylive.
ANSWER:
b
DIFFICULTY:yy
Moderate
LEARNINGyOBJECTIVES:yyECON.MANK.012y-
yApplyybasic,yeconomicyprinciplesyofyindividualydecisionymakingy

thatydetermineyhowyanyeconomyygenerallyyworks.
TOPICS:yy
Economicythinking
KEYWORDS:yy
BLOOM'S:yComprehension
CUSTOMyID:yy
001.02.0y-yMCy-yMANK08
2.yEconomistsyuseysomeyfamiliarytermsyinyspecializedyways
a.ytoymakeytheysubjectysoundymoreycomplexythanyityis.
b.ybecauseyeveryyrespectableyfieldyofystudyyhasyitsyownylanguage.
c.ytoyprovideyaynewyandyusefulywayyofythinkingyaboutytheyworld.
d.ybecauseyitywasytooydifficultytoycomeyupywithynewyterms.
ANSWER:
c
DIFFICULTY:yy
Easy
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

TOPICS:yy
Economicythinking
KEYWORDS:yy
BLOOM'S:yComprehension
CUSTOMyID:yy
002.02.0y-yMCy-yMANK08
3.yTheylanguageyofyeconomicsyis

,a.yneedlesslyyarcane.
b.yvaluableybecauseyityprovidesyaynewyandyusefulywayyofylearningyaboutytheyworld.
c.yeasyytoylearnywithinyayday.
d.yunnecessaryytoylearnyforyaythoroughyunderstandingyofyeconomics.
ANSWER:
b
DIFFICULTY:yy
Easy
LEARNINGyOBJECTIVES:yyECON.MANK.012y-
yApplyybasic,yeconomicyprinciplesyofyindividualydecisionymakingy

thatydetermineyhowyanyeconomyygenerallyyworks.
TOPICS:yy
Economicythinking
KEYWORDS:yy
BLOOM'S:yComprehension
CUSTOMyID:yy
003.02.0y-yMCy-yMANK08
4.yStudyingywhichyofytheyfollowingyisyhelpfulyinylearningytoythinkylikeyanyeconomist?
a.ytheory.
b.ycaseystudies.
c.yexamplesyofyeconomicsyinytheynews.
d.yallyofytheyabove.
ANSWER:
d
DOWNLOADyTHEyTestyBankyforyPrinciplesyofyMicroeconomicsy8thyEdition
yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyMankiw

mynursytest.store
CopyrightyCengageyLearning.yPoweredybyyCognero.
Pagey2y
DIFFICULTY:yy
Easy
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

TOPICS:yy
Economicythinking
KEYWORDS:yy
BLOOM'S:yKnowledge
CUSTOMyID:yy
004.02.0y-yMCy-yMANK08
DOWNLOADyTHEyTestyBankyforyPrinciplesyofyMicroeconomicsy8thyEdition
yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyMankiw

mynursytest.store
CopyrightyCengageyLearning.yPoweredybyyCognero.

,Pagey1y
1.yEconomists,ylikeymathematicians,yphysicists,yandybiologists,
a.ymakeyuseyofytheyscientificymethod.
b.ytryytoyaddressytheirysubjectywithyayscientist’syobjectivity.
c.ydeviseytheories,ycollectydata,yandythenyanalyzeytheseydatayinyanyattemptytoyverifyyoryrefutey
theirytheories.
d.yAllyofytheyaboveyareycorrect.
ANSWER:
d
DIFFICULTY:yy
Moderate
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

TOPICS:yy
Economicythinking
KEYWORDS:yy
BLOOM'S:yComprehension
CUSTOMyID:yy
001.02.1y-yMCy-yMANK08
2.yTheyessenceyofyscienceyis
a.ytheylaboratoryyexperiment.
b.ytheyscientificymethod.
c.ytheystudyyofynature,ybutynotytheystudyyofysociety.
d.yAllyofytheyaboveyareycorrect.
ANSWER:
b
DIFFICULTY:yy
Easy
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

KEYWORDS:yy
BLOOM'S:yKnowledge
CUSTOMyID:yy
002.02.1y-yMCy-yMANK08
3.yTheyscientificymethodyis
a.ytheyuseyofymodernytechnologyytoyunderstandytheywayytheyworldyworks.
b.ytheyuseyofycontrolledylaboratoryyexperimentsytoyunderstandytheywayytheyworldyworks.
c.ytheydispassionateydevelopmentyandytestingyofytheoriesyaboutyhowytheyworldyworks.
d.ytheysearchyforyevidenceytoysupportypreconceivedytheoriesyaboutyhowytheyworldyworks.
ANSWER:
c
DIFFICULTY:yy
Easy

, LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

KEYWORDS:yy
BLOOM'S:yKnowledge
CUSTOMyID:yy
003.02.1y-yMCy-yMANK08
4.yTheyscientificymethodyisyapplicableytoystudying
a.ynaturalysciences,ybutynotysocialysciences.
b.ysocialysciences,ybutynotynaturalysciences.
c.ybothynaturalysciencesyandysocialysciences.
d.yNoneyofytheyaboveyisycorrect.
ANSWER:
c
DIFFICULTY:yy
Moderate
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

KEYWORDS:yy
BLOOM'S:yComprehension
CUSTOMyID:yy
004.02.1y-yMCy-yMANK08
5.yWhoysaid,y"Theywholeyofyscienceyisynothingymoreythanytheyrefinementyofyeverydayythinkin
g"?
DOWNLOADyTHEyTestyBankyforyPrinciplesyofyMicroeconomicsy8thyEdition
yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyMankiw

mynursytest.store
CopyrightyCengageyLearning.yPoweredybyyCognero.
Pagey2y
a.yIsaacyNewton
b.yAlbertyEinstein
c.yAdamySmith
d.yBenjaminyFranklin
ANSWER:
b
DIFFICULTY:yy
Easy
LEARNINGyOBJECTIVES:yyECON.MANK.024y-
yClassifyytheydifferentyfunctionsyanyeconomistymayyserve.

KEYWORDS:yy
BLOOM'S:yKnowledge
CUSTOMyID:yy
005.02.1y-yMCy-yMANK08
6.yAlbertyEinsteinyonceymadeytheyfollowingyobservationyaboutyscience:

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Lawrence Boland The Principles of Economics

Edition:2005
ISBN:9781134827374
Edition:Unknown

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Course: Basic, economic principles

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Uploaded on: December 8, 2024
Number of pages: 303
Written in: 2024/2025
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test bank apply basic economic principles

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