TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest Rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards
,Chapter F1 Introduction
1.1 Microeconomics: FThe FAllocation Fof FScarce FResources
1) Microeconomics Fstudies Fthe Fallocation Fof
A) decision Fmakers.
B) scarce Fresources.
C) models.
D) unlimited Fresources.
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
2) Microeconomics Fis Foften Fcalled
A) price Ftheory.
B) decision Fscience.
C) scarcity.
D) resource Ftheory.
FANSWER: A
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
3) Most Fmicroeconomic Fmodels Fassume Fthat Fdecision Fmakers Fwish Fto
A) make Fthemselves Fas Fwell Foff Fas Fpossible.
B) act Fselfishly.
C) make Fothers Fas Fwell Foff Fas Fpossible.
D) None Fof Fthe
Fabove.FANSWER: A
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
4) Society Ffaces Ftrade- ‑offs Fbecause Fof
A) government Fregulations.
B) profit Fmotive.
C) faceless Fbureaucrats.
D) scarcity.
FANSWER: D
Section: The FAllocation Fof FScarce FResources
, FQuestion FStatus: Old
AACSB: Analytic Fthinking
5) A Fmarket
A) always Finvolves Fthe Fpersonal Fexchange Fof Fgoods Ffor Fmoney.
B) allows Finteractions Fbetween Fconsumers Fand Ffirms.
C) always Ftakes Fplace Fat Fa Fphysical Flocation.
D) has Fno Finfluence Fon Fprices.
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
6) What Flinks Fthe Fdecisions Fof Fconsumers Fand Ffirms Fin Fa Fmarket?
A) the Fgovernment
B) prices
C) coordination Fofficials
D) microeconomics
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
7) The Fprice Fof Fa Fgood Fis
A) always Fequal Fto Fthe Fcost Fof Fproducing Fthe Fgood.
B) never Faffected Fby Fthe Fnumber Fof Fbuyers Fand Fsellers.
C) usually Fdetermined Fin Fa Fmarket.
D) None Fof Fthe
Fabove.FANSWER: C
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
8) Who For Fwhat Fis Fresponsible Ffor Fbringing Ftogether Fscarce Fresources Fto Fproduce Fmost Fof Fthe
Fgoods Fand Fservices Fin Fthe FU.S.?
A) the FU.S. Fgovernment
B) the FUnited FNations
C) the FFederal FReserve FBank
D) markets Fand Fprices
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest Rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards
,Chapter F1 Introduction
1.1 Microeconomics: FThe FAllocation Fof FScarce FResources
1) Microeconomics Fstudies Fthe Fallocation Fof
A) decision Fmakers.
B) scarce Fresources.
C) models.
D) unlimited Fresources.
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
2) Microeconomics Fis Foften Fcalled
A) price Ftheory.
B) decision Fscience.
C) scarcity.
D) resource Ftheory.
FANSWER: A
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
3) Most Fmicroeconomic Fmodels Fassume Fthat Fdecision Fmakers Fwish Fto
A) make Fthemselves Fas Fwell Foff Fas Fpossible.
B) act Fselfishly.
C) make Fothers Fas Fwell Foff Fas Fpossible.
D) None Fof Fthe
Fabove.FANSWER: A
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
4) Society Ffaces Ftrade- ‑offs Fbecause Fof
A) government Fregulations.
B) profit Fmotive.
C) faceless Fbureaucrats.
D) scarcity.
FANSWER: D
Section: The FAllocation Fof FScarce FResources
, FQuestion FStatus: Old
AACSB: Analytic Fthinking
5) A Fmarket
A) always Finvolves Fthe Fpersonal Fexchange Fof Fgoods Ffor Fmoney.
B) allows Finteractions Fbetween Fconsumers Fand Ffirms.
C) always Ftakes Fplace Fat Fa Fphysical Flocation.
D) has Fno Finfluence Fon Fprices.
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
6) What Flinks Fthe Fdecisions Fof Fconsumers Fand Ffirms Fin Fa Fmarket?
A) the Fgovernment
B) prices
C) coordination Fofficials
D) microeconomics
FANSWER: B
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
7) The Fprice Fof Fa Fgood Fis
A) always Fequal Fto Fthe Fcost Fof Fproducing Fthe Fgood.
B) never Faffected Fby Fthe Fnumber Fof Fbuyers Fand Fsellers.
C) usually Fdetermined Fin Fa Fmarket.
D) None Fof Fthe
Fabove.FANSWER: C
Section: The FAllocation Fof FScarce FResources
FQuestion FStatus: Old
AACSB: Analytic Fthinking
8) Who For Fwhat Fis Fresponsible Ffor Fbringing Ftogether Fscarce Fresources Fto Fproduce Fmost Fof Fthe
Fgoods Fand Fservices Fin Fthe FU.S.?
A) the FU.S. Fgovernment
B) the FUnited FNations
C) the FFederal FReserve FBank
D) markets Fand Fprices
