Test bank for microeconomics 7th 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 nr



5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms and Marketsnr nr nr



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 nr nr



13. Oligopoly and Monopolistic Competition
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14. Game Theory nr



15. Factor Markets nr



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



19. Asymmetric Information nr



20. Contracts and Moral Hazards nr nr nr

,Chapter nr1 Introduction
1.1 Microeconomics: nrThe nrAllocation nrof nrScarce nrResources
1) Microeconomics nrstudies nrthe nrallocation nrof

A) decision nrmakers.

B) scarce nrresources.

C) models.

D) unlimited nrresources.
nA
r NSWER: B
Section: The nrAllocation nrof nrScarce
nrResourcesnQ
r uestion nrStatus: Old
AACSB: Analytic nrthinking


2) Microeconomics nris nroften nrcalled

A) price nrtheory.

B) decision nrscience.

C) scarcity.

D) resource nrtheory.
nA
r NSWER: A
Section: The nrAllocation nrof nrScarce
nrResourcesnQ
r uestion nrStatus: Old
AACSB: Analytic nrthinking


3) Most nrmicroeconomic nrmodels nrassume nrthat nrdecision nrmakers nrwish nrto

A) make nrthemselves nras nrwell nroff nras nrpossible.

B) act nrselfishly.

C) make nrothers nras nrwell nroff nras nrpossible.

D) None nrof nrthe
nrabove.nA
r NSWER: A
Section: The nrAllocation nrof nrScarce
nrResourcesnQ
r uestion nrStatus: Old
AACSB: Analytic nrthinking
4) Society nrfaces nrtrade-­ ‑offs nrbecause nrof

A) government nrregulations.

B) profit nrmotive.

C) faceless nrbureaucrats.

, D) scarcity.
nrANSWER: D
Section: The nrAllocation nrof nrScarce
nrResourcesnQ
r uestion nrStatus: Old
AACSB: Analytic nrthinking