TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
bf bf
1. Introduction
2. Supply and Demand
bf bf
3. Applying the Supply-and-Demand Model
bf bf bf
4. Consumer Choice bf
5. Applying Consumer Theory
bf bf
6. Firms and Production
bf bf
7. Costs
8. Competitive Firms and Marketsbf bf bf
9. Applying the Competitive Model
bf bf bf
10. General Equilibrium and Economic Welfare
bf bf bf bf
11. Monopoly
12. Pricing and Advertising bf bf
13. Oligopoly and Monopolistic Competition
bf bf bf
14. Game Theory bf
15. Factor Markets bf
16. Interest Rates, Investments, and Capital Markets
bf bf bf bf bf
17. Uncertainty
18. Externalities, Open-Access, and Public Goods bf bf bf bf
19. Asymmetric Information bf
20. Contracts and Moral Hazards bf bf bf
,Chapter bf1 Introduction
1.1 Microeconomics: bfThe bfAllocation bfof bfScarce bfResources
1) Microeconomics bfstudies bfthe bfallocation bfof
A) decision bfmakers.
B) scarce bfresources.
C) models.
D) unlimited bfresources.
bA
f NSWER: B
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
2) Microeconomics bfis bfoften bfcalled
A) price bftheory.
B) decision bfscience.
C) scarcity.
D) resource bftheory.
bA
f NSWER: A
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
3) Most bfmicroeconomic bfmodels bfassume bfthat bfdecision bfmakers bfwish bfto
A) make bfthemselves bfas bfwell bfoff bfas bfpossible.
B) act bfselfishly.
C) make bfothers bfas bfwell bfoff bfas bfpossible.
D) None bfof bfthe
bfabove.bA
f NSWER: A
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
4) Society bffaces bftrade- ‑offs bfbecause bfof
A) government bfregulations.
B) profit bfmotive.
C) faceless bfbureaucrats.
, D) scarcity.
bfANSWER: D
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
by Jeffrey M. Perloff, Chapters 1 - 20
,Table of contents
bf bf
1. Introduction
2. Supply and Demand
bf bf
3. Applying the Supply-and-Demand Model
bf bf bf
4. Consumer Choice bf
5. Applying Consumer Theory
bf bf
6. Firms and Production
bf bf
7. Costs
8. Competitive Firms and Marketsbf bf bf
9. Applying the Competitive Model
bf bf bf
10. General Equilibrium and Economic Welfare
bf bf bf bf
11. Monopoly
12. Pricing and Advertising bf bf
13. Oligopoly and Monopolistic Competition
bf bf bf
14. Game Theory bf
15. Factor Markets bf
16. Interest Rates, Investments, and Capital Markets
bf bf bf bf bf
17. Uncertainty
18. Externalities, Open-Access, and Public Goods bf bf bf bf
19. Asymmetric Information bf
20. Contracts and Moral Hazards bf bf bf
,Chapter bf1 Introduction
1.1 Microeconomics: bfThe bfAllocation bfof bfScarce bfResources
1) Microeconomics bfstudies bfthe bfallocation bfof
A) decision bfmakers.
B) scarce bfresources.
C) models.
D) unlimited bfresources.
bA
f NSWER: B
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
2) Microeconomics bfis bfoften bfcalled
A) price bftheory.
B) decision bfscience.
C) scarcity.
D) resource bftheory.
bA
f NSWER: A
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
3) Most bfmicroeconomic bfmodels bfassume bfthat bfdecision bfmakers bfwish bfto
A) make bfthemselves bfas bfwell bfoff bfas bfpossible.
B) act bfselfishly.
C) make bfothers bfas bfwell bfoff bfas bfpossible.
D) None bfof bfthe
bfabove.bA
f NSWER: A
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
4) Society bffaces bftrade- ‑offs bfbecause bfof
A) government bfregulations.
B) profit bfmotive.
C) faceless bfbureaucrats.
, D) scarcity.
bfANSWER: D
Section: The bfAllocation bfof bfScarce
bfResourcesbQ
f uestion bfStatus: Old
AACSB: Analytic bfthinking
