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1. Whichloflthelfollowinglislnotlcorrect?
a. Economistsluselsomelfamiliarlwordslinlspecializedlways.
b. Economicslhaslitslownllanguagelandlitslownlwayloflthinking,lbutlfewlotherlfieldsloflstudyldo.
c. Supply,ldemand,lelasticity,lcomparativeladvantage,lconsumerlsurplus,landldeadweightllosslarelallltermslthatlarel
partlofltheleconomist’sllanguage.
d. Thelvaluelofltheleconomist’sllanguagellieslinlitslabilityltolprovidelyoulwithlalnewlandlusefullwayloflthinkinglaboutlt
helworldlinlwhichlyoullive.
ANSWER: b
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:lECON.MANK.012l-
lApplylbasic,leconomiclprinciplesloflindividualldecisionlmakinglthatldeterminelhowlanlec
onomylgenerallylworks.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 001.02.0l-lMCl-lMANK08
2. Economistsluselsomelfamiliarltermslinlspecializedlways
a. tolmakelthelsubjectlsoundlmorelcomplexlthanlitlis.
b. becauseleverylrespectablelfieldloflstudylhaslitslownllanguage.
c. tolprovidelalnewlandlusefullwayloflthinkinglaboutlthelworld.
d. becauselitlwasltooldifficultltolcomeluplwithlnewlterms.
ANSWER: c
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 002.02.0l-lMCl-lMANK08
3. Thellanguagelofleconomicslis
a. needlesslylarcane.
b. valuablelbecauselitlprovideslalnewlandlusefullwaylofllearninglaboutlthelworld.
c. easyltollearnlwithinlalday.
d. unnecessaryltollearnlforlalthoroughlunderstandinglofleconomics.
ANSWER: b
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:lECON.MANK.012l-
lApplylbasic,leconomiclprinciplesloflindividualldecisionlmakinglthatldeterminelhowlanlec
onomylgenerallylworks.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 003.02.0l-lMCl-lMANK08
4. Studyinglwhichloflthelfollowinglislhelpfullinllearningltolthinkllikelanleconomist?
a. theory.
b. caselstudies.
c. exampleslofleconomicslinlthelnews.
d. allloflthelabove.
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ANSWER: d
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DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 004.02.0l-lMCl-lMANK08
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1. Economists,llikelmathematicians,lphysicists,landlbiologists,
a. makeluseloflthelscientificlmethod.
b. tryltoladdressltheirlsubjectlwithlalscientist’slobjectivity.
c. deviseltheories,lcollectldata,landlthenlanalyzeltheseldatalinlanlattemptltolverifylorlrefuteltheirltheories.
d. Allloflthelabovelarelcorrect.
ANSWER: d
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 001.02.1l-lMCl-lMANK08
2. Thelessenceloflsciencelis
a. thellaboratorylexperiment.
b. thelscientificlmethod.
c. thelstudyloflnature,lbutlnotlthelstudyloflsociety.
d. Allloflthelabovelarelcorrect.
ANSWER: b
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 002.02.1l-lMCl-lMANK08
3. Thelscientificlmethodlis
a. theluseloflmodernltechnologyltolunderstandlthelwaylthelworldlworks.
b. theluseloflcontrolledllaboratorylexperimentsltolunderstandlthelwaylthelworldlworks.
c. theldispassionateldevelopmentlandltestinglofltheorieslaboutlhowlthelworldlworks.
d. thelsearchlforlevidenceltolsupportlpreconceivedltheorieslaboutlhowlthelworldlworks.
ANSWER: c
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 003.02.1l-lMCl-lMANK08
4. Thelscientificlmethodlislapplicableltolstudying
a. naturallsciences,lbutlnotlsociallsciences.
b. sociallsciences,lbutlnotlnaturallsciences.
c. bothlnaturallscienceslandlsociallsciences.
d. Noneloflthelabovelislcorrect.
ANSWER: c
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 004.02.1l-lMCl-lMANK08
5. Wholsaid,l"Thelwholeloflsciencelislnothinglmorelthanlthelrefinementlofleverydaylthinking"?
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l l l l l l l l l l
w
1. Whichloflthelfollowinglislnotlcorrect?
a. Economistsluselsomelfamiliarlwordslinlspecializedlways.
b. Economicslhaslitslownllanguagelandlitslownlwayloflthinking,lbutlfewlotherlfieldsloflstudyldo.
c. Supply,ldemand,lelasticity,lcomparativeladvantage,lconsumerlsurplus,landldeadweightllosslarelallltermslthatlarel
partlofltheleconomist’sllanguage.
d. Thelvaluelofltheleconomist’sllanguagellieslinlitslabilityltolprovidelyoulwithlalnewlandlusefullwayloflthinkinglaboutlt
helworldlinlwhichlyoullive.
ANSWER: b
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:lECON.MANK.012l-
lApplylbasic,leconomiclprinciplesloflindividualldecisionlmakinglthatldeterminelhowlanlec
onomylgenerallylworks.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 001.02.0l-lMCl-lMANK08
2. Economistsluselsomelfamiliarltermslinlspecializedlways
a. tolmakelthelsubjectlsoundlmorelcomplexlthanlitlis.
b. becauseleverylrespectablelfieldloflstudylhaslitslownllanguage.
c. tolprovidelalnewlandlusefullwayloflthinkinglaboutlthelworld.
d. becauselitlwasltooldifficultltolcomeluplwithlnewlterms.
ANSWER: c
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 002.02.0l-lMCl-lMANK08
3. Thellanguagelofleconomicslis
a. needlesslylarcane.
b. valuablelbecauselitlprovideslalnewlandlusefullwaylofllearninglaboutlthelworld.
c. easyltollearnlwithinlalday.
d. unnecessaryltollearnlforlalthoroughlunderstandinglofleconomics.
ANSWER: b
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:lECON.MANK.012l-
lApplylbasic,leconomiclprinciplesloflindividualldecisionlmakinglthatldeterminelhowlanlec
onomylgenerallylworks.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 003.02.0l-lMCl-lMANK08
4. Studyinglwhichloflthelfollowinglislhelpfullinllearningltolthinkllikelanleconomist?
a. theory.
b. caselstudies.
c. exampleslofleconomicslinlthelnews.
d. allloflthelabove.
CopyrightlCengagelLearning.lPoweredlbylCognero. Pagel1
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,DOWNLOAD THE Test Bank for Principles of Microeconomics 8th EditionManki
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ANSWER: d
CopyrightlCengagelLearning.lPoweredlbylCognero. Pagel2
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DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 004.02.0l-lMCl-lMANK08
CopyrightlCengagelLearning.lPoweredlbylCognero. Pagel3
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, DOWNLOAD THE Test Bank for Principles of Microeconomics 8th EditionManki
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1. Economists,llikelmathematicians,lphysicists,landlbiologists,
a. makeluseloflthelscientificlmethod.
b. tryltoladdressltheirlsubjectlwithlalscientist’slobjectivity.
c. deviseltheories,lcollectldata,landlthenlanalyzeltheseldatalinlanlattemptltolverifylorlrefuteltheirltheories.
d. Allloflthelabovelarelcorrect.
ANSWER: d
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
TOPICS: Economiclthinking
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 001.02.1l-lMCl-lMANK08
2. Thelessenceloflsciencelis
a. thellaboratorylexperiment.
b. thelscientificlmethod.
c. thelstudyloflnature,lbutlnotlthelstudyloflsociety.
d. Allloflthelabovelarelcorrect.
ANSWER: b
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 002.02.1l-lMCl-lMANK08
3. Thelscientificlmethodlis
a. theluseloflmodernltechnologyltolunderstandlthelwaylthelworldlworks.
b. theluseloflcontrolledllaboratorylexperimentsltolunderstandlthelwaylthelworldlworks.
c. theldispassionateldevelopmentlandltestinglofltheorieslaboutlhowlthelworldlworks.
d. thelsearchlforlevidenceltolsupportlpreconceivedltheorieslaboutlhowlthelworldlworks.
ANSWER: c
DIFFICULTY: Easy
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lKnowledge
CUSTOMlID: 003.02.1l-lMCl-lMANK08
4. Thelscientificlmethodlislapplicableltolstudying
a. naturallsciences,lbutlnotlsociallsciences.
b. sociallsciences,lbutlnotlnaturallsciences.
c. bothlnaturallscienceslandlsociallsciences.
d. Noneloflthelabovelislcorrect.
ANSWER: c
DIFFICULTY: Moderate
LEARNINGlOBJECTIVES:l ECON.MANK.024l-lClassifyltheldifferentlfunctionslanleconomistlmaylserve.
KEYWORDS: BLOOM'S:lComprehension
CUSTOMlID: 004.02.1l-lMCl-lMANK08
5. Wholsaid,l"Thelwholeloflsciencelislnothinglmorelthanlthelrefinementlofleverydaylthinking"?
CopyrightlCengagelLearning.lPoweredlbylCognero. Pagel1
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