Test Bank For Essentials of Economics 10th edition by N. Gregory Mankiw All Chapters 1 - 24

TEST BANK
Essentials of Economics 10th edition
by N. Gregory Mankiw All Chapters 1 - 24




Pageh1

,Table of Contents. h h




Part I: INTRODUCTION.
h h




1. Ten Principles of Economics.
h h h h




2. Thinking Like an Economist.
h h h h




3. Interdependence and the Gains from Trade.
h h h h h h




Part II: HOW MARKETS WORK.
h h h h




4. The Market Forces of Supply and Demand.
h h h h h h h




5. Elasticity and Its Application.
h h h h




6. Supply, Demand, and Government Policies.
h h h h h




Part III: MARKETS AND WELFARE.
h h h h




7. Consumers, Producers, and the Efficiency of Markets.
h h h h h h h




8. Application: The Costs of Taxation.
h h h h h




9. Application: International Trade.
h h h




Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
h h h h h h h




10. Externalities.
h




11. Public Goods and Common Resources.
h h h h h




Part V: Firm Behavior and the Organization of Industry.
h h h h h h h h




Pageh2

,12. The Costs of Production.
h h h h




13. Firms in Competitive Markets.
h h h h




14. Monopoly.
h




Part VI: THE DATA OF MACROECONOMICS.
h h h h h




15. Measuring a Nation’s Income.
h h h h




16. Measuring the Cost of Living.
h h h h h




Part VII: THE REAL ECONOMY IN THE LONG RUN.
h h h h h h h h




17. Production and Growth.
h h h




18. Saving, Investment, and the Financial System.
h h h h h h




19. The Basic Tools of Finance.
h h h h h




20. Unemployment and Its Natural Rate.
h h h h h




Part VIII: MONEY AND PRICES IN THE LONG RUN.
h h h h h h h h




21. The Monetary System.
h h h




22. Money Growth and Inflation.
h h h h




Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
h h h h




23. Aggregate Demand and Aggregate Supply.
h h h h h




24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
h h h h h h h h h h




Pageh3

, 1. Ten Principles of Economics.
h h h h




1. ThehEnglishhwordhthathcomeshfromhthehGreekhwordhforh"onehwhohmanageshahhousehold"his
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi

nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 001.01.0h-hMCh-hMANK08


2. Thehwordh“economy”hcomeshfromhthehGreekhwordhoikonomos,hwhichhmeans
a. “environment.”
b. “production.”
c. “onehwhohmanageshahhousehold.”
d. “onehwhohmakeshdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi

nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 002.01.0h-hMCh-hMANK08
3. Resourceshare
a. scarcehforhhouseholdshbuthplentifulhforheconomies.
b. plentifulhforhhouseholdshbuthscarcehforheconomies.
c. scarcehforhhouseholdshandhscarcehforheconomies.
d. plentifulhforhhouseholdshandhplentifulhforheconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi

nehhowhanheconomyhgenerallyhworks.
TOPICS:
Pageh4