TEST BANK For Microeconomics, 9th edition
b b b b b
by Jeffrey M. Perloff, Chapters 1 - 20
b b b b b b b
,Table of contents
b b
1. Introduction
2. Supply and Demand
b b
3. Applying the Supply-and-Demand Model
b b b
4. Consumer Choice b
5. Applying Consumer Theory
b b
6. Firms and Production
b b
7. Costs
8. Competitive Firms and Markets b b b
9. Applying the Competitive Model
b b b
10. General Equilibrium and Economic Welfare
b b b b
11. Monopoly
12. Pricing and Advertising b b
13. Oligopoly and Monopolistic Competition b b b
14. Game Theory b
15. Factor Markets b
16. Interest Rates, Investments, and Capital Markets
b b b b b
17. Uncertainty
18. Externalities, Open-Access, and Public Goods b b b b
19. Asymmetric Information b
20. Contracts and Moral Hazards b b b
,Chapter 1 b Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
b b b b b
1) Microeconomics bstudies bthe ballocation bof
A) decision bmakers.
B) scarce bresources.
C) models.
D) unlimited
resources.bANSWER: B
b
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
2) Microeconomics bis boften bcalled
A) price btheory.
B) decision bscience.
C) scarcity.
D) resource
theory.bANSWER:
b
A
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
3) Most bmicroeconomic bmodels bassume bthat bdecision bmakers bwish bto
A) make bthemselves bas bwell boff bas bpossible.
B) act bselfishly.
C) make bothers bas bwell boff bas bpossible.
D) None bof bthe
above.bANSWER:
b A
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
4) Society b faces btrade- ‑offs bbecause bof
A) government bregulations.
B) profit bmotive.
C) faceless bbureaucrats.
, D) scarcity.
b ANSWER: D
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
b b b b b
by Jeffrey M. Perloff, Chapters 1 - 20
b b b b b b b
,Table of contents
b b
1. Introduction
2. Supply and Demand
b b
3. Applying the Supply-and-Demand Model
b b b
4. Consumer Choice b
5. Applying Consumer Theory
b b
6. Firms and Production
b b
7. Costs
8. Competitive Firms and Markets b b b
9. Applying the Competitive Model
b b b
10. General Equilibrium and Economic Welfare
b b b b
11. Monopoly
12. Pricing and Advertising b b
13. Oligopoly and Monopolistic Competition b b b
14. Game Theory b
15. Factor Markets b
16. Interest Rates, Investments, and Capital Markets
b b b b b
17. Uncertainty
18. Externalities, Open-Access, and Public Goods b b b b
19. Asymmetric Information b
20. Contracts and Moral Hazards b b b
,Chapter 1 b Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
b b b b b
1) Microeconomics bstudies bthe ballocation bof
A) decision bmakers.
B) scarce bresources.
C) models.
D) unlimited
resources.bANSWER: B
b
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
2) Microeconomics bis boften bcalled
A) price btheory.
B) decision bscience.
C) scarcity.
D) resource
theory.bANSWER:
b
A
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
3) Most bmicroeconomic bmodels bassume bthat bdecision bmakers bwish bto
A) make bthemselves bas bwell boff bas bpossible.
B) act bselfishly.
C) make bothers bas bwell boff bas bpossible.
D) None bof bthe
above.bANSWER:
b A
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
4) Society b faces btrade- ‑offs bbecause bof
A) government bregulations.
B) profit bmotive.
C) faceless bbureaucrats.
, D) scarcity.
b ANSWER: D
Section: The bAllocation bof bScarce
ResourcesbQuestion bStatus:
b Old
AACSB: Analytic bthinking
