TEST BANK
Intermediate Microeconomics with Calculus: A
Modern Approach
Hal R. Varian, Marc J. Melitz
ST
────────────────────────────────────────────────────
2nd Edition
UV
TEST BANK
IA
_M
GE
EK
??
, TABLE OF CONTENTS
Test Bank: Intermediate Microeconomics with Calculus A Modern Approach, 2nd
Edition
By Hal Varian and Marc Melitz
CHAPTER 1 Market
CHAPTER 2 Budget Constraint
ST
CHAPTER 3 Preferences
CHAPTER 4 Utility
CHAPTER 5 Choice
UV
CHAPTER 6 Demand
CHAPTER 7 Revealed Preference
CHAPTER 8 Slutsky Equation
CHAPTER 9 Buying and Selling
CHAPTER 10 Intertemporal Choice
IA
CHAPTER 11 Asset Markets
CHAPTER 12 Uncertainty
CHAPTER 13 Risky Assets
_M
CHAPTER 14 Consumer's Surplus
CHAPTER 15 Market Demand
CHAPTER 16 Equilibrium
CHAPTER 17 Measurement
CHAPTER 18 Auctions
GE
CHAPTER 19 Technology
CHAPTER 20 Profit Maximization
CHAPTER 21 Cost Minimization
CHAPTER 22 Cost Curves
EK
CHAPTER 23 Firm Supply
CHAPTER 24 Industry Supply
CHAPTER 25 Monopoly
??
CHAPTER 26 Monopoly Behavior
CHAPTER 27 Factor Markets
CHAPTER 28 Oligopoly
CHAPTER 29 Game Theory
CHAPTER 30 Game Applications
CHAPTER 31 Behavioral Economics
CHAPTER 32 Exchange
CHAPTER 33 Production
, CHAPTER 34 Welfare
CHAPTER 35 Externalities
CHAPTER 36 Public Goods
CHAPTER 37 Asymmetric Information
CHAPTER 38 Information Technology
ST
UV
IA
_M
GE
EK
??
, Note: No Test Questions and Answers for Chapter 17
Chapter 1
1. A model without any simplifying assumptions
a. is highly complex and likely unworkable.
ST
b. excludes important predictive variables.
c. is very helpful for solving tough, real-world problems.
d. does not look like the real-world problem it is meant to address.
e. provides simplified solutions to complex problems.
UV
2. In the context of economic model building, an exogenous variable is a variable
a. whose value is unknown or not measured.
IA
b. whose value must be determined or explained.
c. governed by factors not included in a model.
d. that is qualitative rather than quantitative.
_M
e. that determines the values of other variables.
3. In an economic model that seeks to explain how the price of gasoline is
established, which variable would be most likely to be endogenous?
GE
a. the current inflation rate
b. the unemployment rate
c. national gross domestic product
EK
d. the average cost of a new car
e. the price of crude oil
??
4. Which sentence best expresses the optimization principle?
a. An economy naturally tends toward maximum output.
b. People arrange their consumption to maximize their satisfaction.
c. Supply and demand curves both tend to become vertical in the long run.
d. Economic models should be simple while including all important variables.
e. For a firm to remain in business, it must maximize its revenue.
Intermediate Microeconomics with Calculus: A
Modern Approach
Hal R. Varian, Marc J. Melitz
ST
────────────────────────────────────────────────────
2nd Edition
UV
TEST BANK
IA
_M
GE
EK
??
, TABLE OF CONTENTS
Test Bank: Intermediate Microeconomics with Calculus A Modern Approach, 2nd
Edition
By Hal Varian and Marc Melitz
CHAPTER 1 Market
CHAPTER 2 Budget Constraint
ST
CHAPTER 3 Preferences
CHAPTER 4 Utility
CHAPTER 5 Choice
UV
CHAPTER 6 Demand
CHAPTER 7 Revealed Preference
CHAPTER 8 Slutsky Equation
CHAPTER 9 Buying and Selling
CHAPTER 10 Intertemporal Choice
IA
CHAPTER 11 Asset Markets
CHAPTER 12 Uncertainty
CHAPTER 13 Risky Assets
_M
CHAPTER 14 Consumer's Surplus
CHAPTER 15 Market Demand
CHAPTER 16 Equilibrium
CHAPTER 17 Measurement
CHAPTER 18 Auctions
GE
CHAPTER 19 Technology
CHAPTER 20 Profit Maximization
CHAPTER 21 Cost Minimization
CHAPTER 22 Cost Curves
EK
CHAPTER 23 Firm Supply
CHAPTER 24 Industry Supply
CHAPTER 25 Monopoly
??
CHAPTER 26 Monopoly Behavior
CHAPTER 27 Factor Markets
CHAPTER 28 Oligopoly
CHAPTER 29 Game Theory
CHAPTER 30 Game Applications
CHAPTER 31 Behavioral Economics
CHAPTER 32 Exchange
CHAPTER 33 Production
, CHAPTER 34 Welfare
CHAPTER 35 Externalities
CHAPTER 36 Public Goods
CHAPTER 37 Asymmetric Information
CHAPTER 38 Information Technology
ST
UV
IA
_M
GE
EK
??
, Note: No Test Questions and Answers for Chapter 17
Chapter 1
1. A model without any simplifying assumptions
a. is highly complex and likely unworkable.
ST
b. excludes important predictive variables.
c. is very helpful for solving tough, real-world problems.
d. does not look like the real-world problem it is meant to address.
e. provides simplified solutions to complex problems.
UV
2. In the context of economic model building, an exogenous variable is a variable
a. whose value is unknown or not measured.
IA
b. whose value must be determined or explained.
c. governed by factors not included in a model.
d. that is qualitative rather than quantitative.
_M
e. that determines the values of other variables.
3. In an economic model that seeks to explain how the price of gasoline is
established, which variable would be most likely to be endogenous?
GE
a. the current inflation rate
b. the unemployment rate
c. national gross domestic product
EK
d. the average cost of a new car
e. the price of crude oil
??
4. Which sentence best expresses the optimization principle?
a. An economy naturally tends toward maximum output.
b. People arrange their consumption to maximize their satisfaction.
c. Supply and demand curves both tend to become vertical in the long run.
d. Economic models should be simple while including all important variables.
e. For a firm to remain in business, it must maximize its revenue.
