TEST BANK x
Essentials of Econ by N. Gregory Mankiw All Chapters 1
x x x x x x x xx x x
- 24omics 9th edition
x x x
Pagex 1
,Table of Contents. h h
Part I: INTRODUCTION.
x x
1. Ten Principles of Economics.
x x x
2. Thinking Like an Economist.
x x x
3. Interdependence and the Gains from Trade. x x x x x
Part II: HOW MARKETS WORK.
x x x x
4. The Market Forces of Supply and Demand.
x x x x x x
5. Elasticity and Its Application.
x x x
6. Supply, Demand, and Government Policies.
x x x x
Part III: MARKETS AND WELFARE.
x x x x
7. Consumers, Producers, and the Efficiency of Markets.
x x x x x x
8. Application: The Costs of Taxation. x x x x
9. Application: International Trade. x x
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
x x x x x x x
10. Externalities.
11. Public Goods and Common Resources.
x x x x
Part V: Firm Behavior and the Organization of Industry.
x x x x x x x x
Pagex 2
,12. The Costs of Production.
x x x
13. Firms in Competitive Markets.
x x x
14. Monopoly.
Part VI: THE DATA OF MACROECONOMICS.
x x x x x
15. Measuring a Nation’s Income. x x x
16. Measuring the Cost of Living. x x x x
Part VII: THE REAL ECONOMY IN THE LONG RUN.
x x x x x x x x
17. Production and Growth. x x
18. Saving, Investment, and the Financial System.
x x x x x
19. The Basic Tools of Finance.
x x x x
20. Unemployment and Its Natural Rate. x x x x
Part VIII: MONEY AND PRICES IN THE LONG RUN.
x x x x x x x x
21. The Monetary System.
x x
22. Money Growth and Inflation.
x x x
Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
x x x x
23. Aggregate Demand and Aggregate Supply. x x x x
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
x x x x x x x x x
Pagex 3
, 1. Ten Principles of Economics.
x x x
1. ThexEnglishxwordxthatxcomesxfromxthexGreekxwordxforx"onexwhoxmanagesxaxhousehold"xis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS: Economicxthinking
KEYWORDS: BLOOM'S:xKnowledge
CUSTOMxID: 001.01.0x-xMCx-xMANK08
2. Thexwordx“economy”xcomesxfromxthexGreekxwordxoikonomos,xwhichxmeans
a. “environment.”
b. “production.”
c. “onexwhoxmanagesxaxhousehold.”
d. “onexwhoxmakesxdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS: Economicxthinking
KEYWORDS: BLOOM'S:xKnowledge
CUSTOMxID: 002.01.0x-xMCx-xMANK08
3. Resourcesxare
a. scarcexforxhouseholdsxbutxplentifulxforxeconomies.
b. plentifulxforxhouseholdsxbutxscarcexforxeconomies.
c. scarcexforxhouseholdsxandxscarcexforxeconomies.
d. plentifulxforxhouseholdsxandxplentifulxforxeconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS:
Pagex 4
Essentials of Econ by N. Gregory Mankiw All Chapters 1
x x x x x x x xx x x
- 24omics 9th edition
x x x
Pagex 1
,Table of Contents. h h
Part I: INTRODUCTION.
x x
1. Ten Principles of Economics.
x x x
2. Thinking Like an Economist.
x x x
3. Interdependence and the Gains from Trade. x x x x x
Part II: HOW MARKETS WORK.
x x x x
4. The Market Forces of Supply and Demand.
x x x x x x
5. Elasticity and Its Application.
x x x
6. Supply, Demand, and Government Policies.
x x x x
Part III: MARKETS AND WELFARE.
x x x x
7. Consumers, Producers, and the Efficiency of Markets.
x x x x x x
8. Application: The Costs of Taxation. x x x x
9. Application: International Trade. x x
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
x x x x x x x
10. Externalities.
11. Public Goods and Common Resources.
x x x x
Part V: Firm Behavior and the Organization of Industry.
x x x x x x x x
Pagex 2
,12. The Costs of Production.
x x x
13. Firms in Competitive Markets.
x x x
14. Monopoly.
Part VI: THE DATA OF MACROECONOMICS.
x x x x x
15. Measuring a Nation’s Income. x x x
16. Measuring the Cost of Living. x x x x
Part VII: THE REAL ECONOMY IN THE LONG RUN.
x x x x x x x x
17. Production and Growth. x x
18. Saving, Investment, and the Financial System.
x x x x x
19. The Basic Tools of Finance.
x x x x
20. Unemployment and Its Natural Rate. x x x x
Part VIII: MONEY AND PRICES IN THE LONG RUN.
x x x x x x x x
21. The Monetary System.
x x
22. Money Growth and Inflation.
x x x
Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
x x x x
23. Aggregate Demand and Aggregate Supply. x x x x
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
x x x x x x x x x
Pagex 3
, 1. Ten Principles of Economics.
x x x
1. ThexEnglishxwordxthatxcomesxfromxthexGreekxwordxforx"onexwhoxmanagesxaxhousehold"xis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS: Economicxthinking
KEYWORDS: BLOOM'S:xKnowledge
CUSTOMxID: 001.01.0x-xMCx-xMANK08
2. Thexwordx“economy”xcomesxfromxthexGreekxwordxoikonomos,xwhichxmeans
a. “environment.”
b. “production.”
c. “onexwhoxmanagesxaxhousehold.”
d. “onexwhoxmakesxdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS: Economicxthinking
KEYWORDS: BLOOM'S:xKnowledge
CUSTOMxID: 002.01.0x-xMCx-xMANK08
3. Resourcesxare
a. scarcexforxhouseholdsxbutxplentifulxforxeconomies.
b. plentifulxforxhouseholdsxbutxscarcexforxeconomies.
c. scarcexforxhouseholdsxandxscarcexforxeconomies.
d. plentifulxforxhouseholdsxandxplentifulxforxeconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGxOBJECTIVES:x ECON.MANK.012x-
Applyxbasic,xeconomicxprinciplesxofxindividualxdecisionx makingxthatxdetermix
nexhowxanxeconomyxgenerallyxworks.
TOPICS:
Pagex 4
