Test bank for Microeconomics 8th Edition by Jeffrey M. Perloff.

TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20

,Table of contents
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1. Introduction
2. Supply and Demand
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3. Applying the Supply-and-Demand Model
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4. Consumer Choice T




5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms and Markets T T T




9. Applying the Competitive Model
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10. General Equilibrium and Economic Welfare
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11. Monopoly
12. Pricing and Advertising T T




13. Oligopoly and Monopolistic Competition T T T




14. Game Theory T




15. Factor Markets T




16. Interest Rates, Investments, and Capital Markets
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17. Uncertainty
18. Externalities, Open-Access, and Public Goods T T T T




19. Asymmetric Information T




20. Contracts and Moral Hazards T T T

,ChapterT1 Introduction
1.1 Microeconomics:TTheTAllocationTofTScarceTResources
1) MicroeconomicsTstudiesTtheTallocationTof

A) decisionTmakers.

B) scarceTresources.

C) models.

D) unlimitedTresources.

E) TANSWER: B
Section:
TheTAllocationTofTScarceTResourcesTQu
estionTStatus: Old
AACSB: AnalyticTthinking


2) MicroeconomicsTisToftenTcalled

A) priceTtheory.

B) decisionTscience.

C) scarcity.

D) resourceTtheory.T
ANSWER: A
Section:
TheTAllocationTofTScarceTResourcesTQu
estionTStatus: Old
AACSB: AnalyticTthinking


3) MostTmicroeconomicTmodelsTassumeTthatTdecisionTmakersTwishTto

A) makeTthemselvesTasTwellToffTasTpossible.

B) actTselfishly.

C) makeTothersTasTwellToffTasTpossible.

D) NoneTofTtheTabove.T
ANSWER: A
Section:
TheTAllocationTofTScarceTResourcesTQu
estionTStatus: Old
AACSB: AnalyticTthinking
4) SocietyTfacesTtrade-­ ‑offsTbecauseTof

A) governmentTregulations.

B) profitTmotive.

C) facelessTbureaucrats.

, D) scarcity.TA
NSWER: D
Section:
TheTAllocationTofTScarceTResourcesTQu
estionTStatus: Old
AACSB: AnalyticTthinking