TRUE/FALSE Mankiw
1 :gEconomistsgtrygtogaddressgtheirgsubjectgwithgagscientist’sgobjectivity.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
2 :gEconomistsgdevisegtheories,gcollectgdata,gandgthenganalyzegthesegdatagingangattemptgtogverif
ygorgrefutegtheirgtheories.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
3 :gThegscientificgmethodgisgthegdispassionategdevelopmentgandgtestinggofgtheoriesgaboutgho
wgthegworldgworks.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
4 :gThegscientificgmethodgcangbegappliedgtogthegstudygofgeconomics.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
5 :gWhilegthegscientificgmethodgisgapplicablegtogstudyinggnaturalgsciences,gitgisgnotgapplicablegt
ogstudyinggagnation’sgeconomy.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
6 :gForgeconomists,gconductinggexperimentsgisgoftengdifficultgandgsometimesgimpossible.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
7 :gEconomistsgusuallyghavegtogmakegdogwithgwhatevergdatagthegworldghappensgtoggivegthem.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
8 :gItgisgdifficultgforgeconomistsgtogmakegobservationsgandgdevelopgtheories,gbutgitgisgeasygf
orgeconomistsgtogrungexperimentsgtoggenerategdatagtogtestgtheirgtheories.
Ag:gtrue
Bg:gfalse
mynursytest.store 1g/g81
,DOWN
CLorOre
AcDtgATnsHwEerT:geB s t gBankgforgPrinciplesgofgMicroeconomicsg9thgEditiongManki
w
9 :gSincegeconomistsgcannotgusegnaturalgexperimentsgofferedgbyghistory,gtheygmustgusegcarefull
ygconstructedglaboratorygexperimentsginstead.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
10 :gHistoricalgepisodesgaregnotgvaluablegtogeconomists.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
11 :gHistoricalgepisodesgallowgeconomistsgtogillustrategandgevaluategcurrentgeconomicgtheories.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
12 :gGoodgassumptionsgsimplifygagproblemgwithoutgsubstantiallygaffectinggtheganswer.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
13 :gAssumptionsgcangsimplifygthegcomplexgworldgandgmakegitgeasiergtogunderstand.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
14 :gEconomistsgoftengfindgitgworthwhilegtogmakegassumptionsgthatgdognotgnecessarilygdescrib
egthegrealgworld.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
15 :gEconomistsgusegonegstandardgsetgofgassumptionsgtoganswergallgeconomicgquestions.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
16 :gEconomicgmodelsgaregmostgoftengcomposedgofgdiagramsgandgequations.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
17g:gEconomicgmodelsgomitgmanygdetailsgtogallowgusgtogseegwhatgisgtrulygimportant.
mynursytest.store 2g/g81
,D O W NA L: gOtrAueDgTHEgTestgBankgforgPrinciplesgofgMicroeconomicsg9thgEdition
Bg:gfalse Mankiw
CorrectgAnswerg:gA
18 :gEconomicgmodelsgcanghelpgusgunderstandgrealitygonlygwhengtheygincludegallgdetailsgofgth
egeconomy.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
19 :gAngeconomicgmodelgcangaccuratelygexplainghowgthegeconomygisgorganizedgbecausegitgi
sgdesignedgtoginclude,gtogthegextentgpossible,gallgfeaturesgofgthegrealgworld.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
20 :gAllgscientificgmodels,gincludinggeconomicgmodels,gsimplifygrealitygingordergtogimprovego
urgunderstandinggofgit.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
21 :gThegcircular-
flowgdiagramgexplains,ginggeneralgterms,ghowgthegeconomygisgorganizedgandghowgparticipant
sgingthegeconomyginteractgwithgoneganother.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
22 :gAgcircular-flowgdiagramgisgagvisualgmodelgofgthegeconomy.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
23 :gThegcirculargflowgmodelgisgnotgusedganymoregbecausegitgfailsgtogperfectlygreplicategrealgworl
dgsituations.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
24 :gIngthegcircular-flowgdiagram,ghouseholdsgandgfirmsgaregthegdecisiongmakers.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
25g:gIngthegcircular-flowgdiagram,gfirmsgproduceggoodsgandgservicesgusinggthegfactorsgof
mynursytest.store 3g/g81
, D O W Np rLoOd Au cDt i o Tn .H E gTestgBankgforgPrinciplesgofgMicroeconomicsg9thgEdition
Ag:gtrue Mankiw
Bg:gfalse
CorrectgAnswerg:gA
26 :gIngthegcircular-
flowgdiagram,gfactorsgofgproductiongaregtheggoodsgandgservicesgproducedgbygfirms.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
27 :gIngthegcircular-flowgdiagram,gfactorsgofgproductiongincludegland,glabor,gandgcapital.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
28 :gIngthegcircular-
flowgdiagram,gfirmsgowngthegfactorsgofgproductiongandgusegthemgtogproduceggoodsgandgservi
ces.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
29 :gIngthegcircular-flowgdiagram,gfirmsgconsumegallgtheggoodsgandgservicesgthatgtheygproduce.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gB
30 :gIngthegcircular-
flowgdiagram,gthegtwogtypesgofgmarketsgingwhichghouseholdsgandgfirmsginteractgaregtheg
marketsgforggoodsgandgservicesgandgthegmarketsgforgfactorsgofgproduction.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
31 :gIngthegmarketsgforggoodsgandgservicesgingthegcircular-
flowgdiagram,ghouseholdsgaregbuyersgandgfirmsgaregsellers.
Ag:gtrue
Bg:gfalse
CorrectgAnswerg:gA
32 :gIngthegmarketsgforgthegfactorsgofgproductiongingthegcircular-
flowgdiagram,ghouseholdsgaregbuyersgandgfirmsgaregsellers.
Ag:gtrue
Bg:gfalse
mynursytest.store 4g/g81