TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
h3 h3
1. Introduction
2. Supply and Demand
h3 h3
3. Applying the Supply-and-Demand Model
h3 h3 h3
4. Consumer Choice h3
5. Applying Consumer Theory
h3 h3
6. Firms and Production
h3 h3
7. Costs
8. Competitive Firms and Markets h3 h3 h3
9. Applying the Competitive Model
h3 h3 h3
10. General Equilibrium and Economic Welfareh3 h3 h3 h3
11. Monopoly
12. Pricing and Advertising h3 h3
13. Oligopoly and Monopolistic Competition h3 h3 h3
14. Game Theory h3
15. Factor Markets h3
,16. Interest Rates, Investments, and Capital Markets
h3 h3 h3 h3 h3
17. Uncertainty
18. Externalities, Open-Access, and Public Goodsh3 h3 h3 h3
19. Asymmetric Information h3
20. Contracts and Moral Hazards h3 h3 h3
Chapter 1 h3 Introduction
1.1 Microeconomics: The Allocation of Scarce Resources h3 h3 h3 h3 h3
1) Microeconomics studies the allocation of h3 h3 h3 h3
A) decision makers. h3
B) scarce resources.
h3
C) models.
D) unlimited resources h3
.ANSWER: B
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
2) Microeconomics is often called h3 h3 h3
A) price theory.
h3
, B) decision science. h3
C) scarcity.
D) resource theory h3
.ANSWER: A
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
3) Most microeconomic models assume that decision makers wish to
h3 h3 h3 h3 h3 h3 h3 h3
A) make themselves as well off as possible.
h3 h3 h3 h3 h3 h3
B) act selfishly.
h3
C) make others as well off as possible.
h3 h3 h3 h3 h3 h3
D) None of the abov h3 h3 h3
e. ANSWER: A
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
4) Society faces trade-‐‑offs because of
h3 h3 h3 h3
A) government regulations. h3
B) profit motive. h3
C) faceless bureaucrats. h3
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
h3 h3
1. Introduction
2. Supply and Demand
h3 h3
3. Applying the Supply-and-Demand Model
h3 h3 h3
4. Consumer Choice h3
5. Applying Consumer Theory
h3 h3
6. Firms and Production
h3 h3
7. Costs
8. Competitive Firms and Markets h3 h3 h3
9. Applying the Competitive Model
h3 h3 h3
10. General Equilibrium and Economic Welfareh3 h3 h3 h3
11. Monopoly
12. Pricing and Advertising h3 h3
13. Oligopoly and Monopolistic Competition h3 h3 h3
14. Game Theory h3
15. Factor Markets h3
,16. Interest Rates, Investments, and Capital Markets
h3 h3 h3 h3 h3
17. Uncertainty
18. Externalities, Open-Access, and Public Goodsh3 h3 h3 h3
19. Asymmetric Information h3
20. Contracts and Moral Hazards h3 h3 h3
Chapter 1 h3 Introduction
1.1 Microeconomics: The Allocation of Scarce Resources h3 h3 h3 h3 h3
1) Microeconomics studies the allocation of h3 h3 h3 h3
A) decision makers. h3
B) scarce resources.
h3
C) models.
D) unlimited resources h3
.ANSWER: B
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
2) Microeconomics is often called h3 h3 h3
A) price theory.
h3
, B) decision science. h3
C) scarcity.
D) resource theory h3
.ANSWER: A
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
3) Most microeconomic models assume that decision makers wish to
h3 h3 h3 h3 h3 h3 h3 h3
A) make themselves as well off as possible.
h3 h3 h3 h3 h3 h3
B) act selfishly.
h3
C) make others as well off as possible.
h3 h3 h3 h3 h3 h3
D) None of the abov h3 h3 h3
e. ANSWER: A
3
h
Section:
The Allocation of Scarce Resourc
h3 h3 h3 h3
esQuestion Status: Old
3
h h3
AACSB: Analytic thinking h3
4) Society faces trade-‐‑offs because of
h3 h3 h3 h3
A) government regulations. h3
B) profit motive. h3
C) faceless bureaucrats. h3
