,DOWNLOAD THE Test Bank for Economics Today The Micro View 20th EditionMiller
z z z z z z z z z z z z
EconomicszToday,z20ez(Miller)zChapte
rz1z ThezNaturezofzEconomics
1.1 ThezPowerzofzEconomiczAnalysis
1) Thezeconomiczwayzofzthinkingzwillzhelpzyou
A) makezdecisionszinzfinancingzyourzhome.
B) analyzezsolutionsztozeconomiczproblems.
C) makezbetterzdecisionszconcerningzyourzeducation.
D) allzofzthesez
Answer:zDzDi
ff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
2) Economiczanalysisziszused
A) onlyzbyzinstructorszandzstudentszinzeconomicsztozunderstandzthezworld.
B) onlyzbyzbusinesszpeopleztozraisezprofits.
C) onlyzbyzpolicyzmakersztozmakezpolicyzdecisions.
D) inzdecisionzmaking.
Answer:z D
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
3) Economiczanalysisziszaztoolzthat
A) aidszdecisionzmaking.
B) helpszuszunderstandzwhyzpeoplezmakezmistakes.
C) helpszuszforgivezselfishzpeople.
D) makeszeveryonezrich.
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
1
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
,DOWNLOAD THE Test Bank for Economics Today The Micro View 20th EditionMiller
z z z z z z z z z z z z
4) Economicsziszbestzdefinedzaszthe
A) studyzofzhowzpeoplezmakezchoicesztozsatisfyztheirzwants.
B) studyzofzindividualzself-interests.
C) studyzofzwhyzpeoplezdoznotzreactztozincentives.
D) processzbyzwhichzgoodszarezsoldzinzfreezmarkets.z
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
5) Economicszcanzbezdescribedzaszthezstudyzofzhowzpeoplezuse resourcesztozsatisfy
z wants.
A) unlimited;zunlimited
B) unlimited;zlimited
C) limited;zunlimited
D) limited;zlimitedz
Answer:z C
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
6) Whichzstatementzmostzaccuratelyzdescribeszeconomics?
A) Economicsziszthezstudyzofzhowzpeoplezmakezmoney.
B) Economicsziszthezstudyzofzhowzpeoplezmakezchoicesztozsatisfyztheirzwants.
C) Economicsziszthezstudyzofzsocialzvalueszazsocietyzshouldzchoose.
D) Economicsziszthezstudyzofzhowztozeliminatezscarcity.z
Answer:z B
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
2
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
, DOWNLOAD THE Test Bank for Economics Today The Micro View 20th EditionMiller
z z z z z z z z z z z z
7) Inzeconomiczanalysis,zpeople'szresourceszare
A) limitedzandztheirzwantszarezunlimited.
B) unlimitedzandztheirzwantszarezalsozunlimited.
C) limitedzandztheirzwantszarezalsozlimited.
D) unlimitedzandztheirzwantszarezlimited.z
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
8) Inzeconomics,zitemszthatzarezusedztozproducezgoodszandzserviceszarezknownzas
A) wants.
B) needs.
C) outputs.
D) resources.z
Answer:zDzD
iff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
9) Inzeconomics,zallzthezitemszthatzpeoplezwouldzconsumezifztheyzhadzunlimitedzincomezarezk
nownzas
A) wants.
B) aggregates.
C) outputs.
D) needs.z
Answer:z Az
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
3
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
z z z z z z z z z z z z
EconomicszToday,z20ez(Miller)zChapte
rz1z ThezNaturezofzEconomics
1.1 ThezPowerzofzEconomiczAnalysis
1) Thezeconomiczwayzofzthinkingzwillzhelpzyou
A) makezdecisionszinzfinancingzyourzhome.
B) analyzezsolutionsztozeconomiczproblems.
C) makezbetterzdecisionszconcerningzyourzeducation.
D) allzofzthesez
Answer:zDzDi
ff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
2) Economiczanalysisziszused
A) onlyzbyzinstructorszandzstudentszinzeconomicsztozunderstandzthezworld.
B) onlyzbyzbusinesszpeopleztozraisezprofits.
C) onlyzbyzpolicyzmakersztozmakezpolicyzdecisions.
D) inzdecisionzmaking.
Answer:z D
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
3) Economiczanalysisziszaztoolzthat
A) aidszdecisionzmaking.
B) helpszuszunderstandzwhyzpeoplezmakezmistakes.
C) helpszuszforgivezselfishzpeople.
D) makeszeveryonezrich.
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
1
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
,DOWNLOAD THE Test Bank for Economics Today The Micro View 20th EditionMiller
z z z z z z z z z z z z
4) Economicsziszbestzdefinedzaszthe
A) studyzofzhowzpeoplezmakezchoicesztozsatisfyztheirzwants.
B) studyzofzindividualzself-interests.
C) studyzofzwhyzpeoplezdoznotzreactztozincentives.
D) processzbyzwhichzgoodszarezsoldzinzfreezmarkets.z
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
5) Economicszcanzbezdescribedzaszthezstudyzofzhowzpeoplezuse resourcesztozsatisfy
z wants.
A) unlimited;zunlimited
B) unlimited;zlimited
C) limited;zunlimited
D) limited;zlimitedz
Answer:z C
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
6) Whichzstatementzmostzaccuratelyzdescribeszeconomics?
A) Economicsziszthezstudyzofzhowzpeoplezmakezmoney.
B) Economicsziszthezstudyzofzhowzpeoplezmakezchoicesztozsatisfyztheirzwants.
C) Economicsziszthezstudyzofzsocialzvalueszazsocietyzshouldzchoose.
D) Economicsziszthezstudyzofzhowztozeliminatezscarcity.z
Answer:z B
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
2
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
, DOWNLOAD THE Test Bank for Economics Today The Micro View 20th EditionMiller
z z z z z z z z z z z z
7) Inzeconomiczanalysis,zpeople'szresourceszare
A) limitedzandztheirzwantszarezunlimited.
B) unlimitedzandztheirzwantszarezalsozunlimited.
C) limitedzandztheirzwantszarezalsozlimited.
D) unlimitedzandztheirzwantszarezlimited.z
Answer:z A
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
8) Inzeconomics,zitemszthatzarezusedztozproducezgoodszandzserviceszarezknownzas
A) wants.
B) needs.
C) outputs.
D) resources.z
Answer:zDzD
iff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
9) Inzeconomics,zallzthezitemszthatzpeoplezwouldzconsumezifztheyzhadzunlimitedzincomezarezk
nownzas
A) wants.
B) aggregates.
C) outputs.
D) needs.z
Answer:z Az
Diff:z1
Topic:z 1.1zThezPowerzofzEconomiczAnalysis
LearningzOutcome:z Micro-
1:zIdentifyzthezbasiczprincipleszofzeconomicszandzexplainzhowztozthinkzlikezanzeconomist
AACSB:z Analyticalzthinking
3
Copyrightz©z2021zPearsonzEducation,zInc.
mynursytest.store
