Test bank for microeconomics 8th edition david colander

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Chapter 01 s s


Economics and Economic Reasoning
s s s




Trues/sFalsesQuestions



1. Thesanswersstosanseconomy'ssthreescentralseconomicsproblemssaresdeterminedsbysthesint
eractionsofsthreesforces:seconomicsforces,spoliticalsforces,sandssocialsforces.
True False



2. Scarcitysexistssbecauseseconomiesscannotsproducesenoughstosmeetsthesperceivedsdesiressofsall
sindividuals.

True False



3. Onlysmarginalscosts,snotssunkscosts,sshouldsaffectseconomicsdecisionssifsindividualssaresrat
ional.
True False



4. Theseconomicsdecisionsrulesisstosundertakesansactionsonlyswhensthesmarginalsbenefitssofstha
tsactionsaresgreatersthansitsstotalscosts.
True False



5. Thesopportunityscostsofsundertakingsansactivitysincludessanyssunkscost.sT
rue False



6. Opportunityscostsissthessamesassmarginalscost.sT
rue False



7. Thes"invisibleshand"sissthespricesmechanismsthatsguidessoursactionssinsthesmarket.sTr
ue False




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8. Socialsandspoliticalsforcessaffectstheswaysinswhichsthesinvisibleshandsworks.sTr
ue False



9. Macroeconomicssissthesstudysofshowsindividualschoicessaresaffectedsbyseconomicsforces.sTr
ue False



10. Decidingswhatsthesdistributionsofsincomesshouldsbesissansexamplesofsnormativesec
onomics.
True False



MultiplesChoicesQuestions



11. Saysaspillsexistedsthatsmadespeoplesselfless.sAfterstakingsitstheysweresonlysinterestedsinsoth
erssnotsthemselves.sUndersthescoordinationsdefinitionsofseconomics:
A. noseconomicsproblemswouldsexist.
B. thereswouldsstillsbesanseconomicsproblem.
C. thereswouldsbesaspoliticalsproblemsbutsnotsanseconomicsproblem.
D. thereswouldsbesassocialsproblemsbutsnotsanseconomicsproblem.



12. Accordingstosthestext,seconomicssissthesstudysofshow:
A. governmentssallocatesresourcessinsthesfacesofsconstraints.
B. governmentspoliciesscansbesusedstosmeetsindividuals'swantssandsdesires.
C. humansbeingsscoordinatestheirswantssandsdesiressinsthesfacesofsconstraints.
D. scarcesresourcessaresallocatedstostheirsmostsproductivesuses.



13. Dormsroomssaresnotsusuallysallocatedsbysmarkets.sAllocatingsdormsroomssis:
A. notsanseconomicsproblem.
B. anseconomicsproblem.
C. notsaffectedsbyseconomicsforces.
D. determinedsbysprices.




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14. Ifsallocatingsdormsroomsschangessfromsallocationsbyslotterystosallocationsbysthesmarket:
A. itsbecomessanseconomicsproblem.
B. itsbecomessaspoliticalsproblemsbutsnotsanseconomicsproblem.
C. itsbecomessassocialsproblemsbutsnotsanseconomicsproblem.
D. thesallocationsproblemsissstillsanseconomicsproblem.



15. Whichsofsthesfollowingsissnotsonesofsthesthreescentralscoordinationsproblemssofsthesec
onomysgivensinsthesbook?
A. What.
B. Whether.
C. Forswhom.
D. How.



16. Thesquantitysofsgoodssandsservicessavailablestossociety:
A. issfixed.
B. dependssonshumansaction.
C. issnotsofseconomicsimportance.
D. willsalwayssgrowstosmeetsindividuals'swantssandsdesires.



17. Anyseconomicssystem:
A. canseliminatesscarcity.
B. addressessthesquestionsswhatsissproduced,showsitsissproduced,sandsforswhomsitsissproduced.
C. providessallsthesgoodsspeopleswantsandsdesire.
D. providessequalsdistributionsofswell-beingsamongsitssparticipants.



18. Scarcitysexistssbecause:
A. individualsscan'tssolvesthesthreescentralscoordinationsproblems.
B. governmentsscan'tssolvesthesthreescentralscoordinationsproblems.
C. thessupplysofsgoodssissalwaysslesssthansthesdemand.
D. newswantsscontinuestosdevelop.




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