Test Bank for MicroEconomics 7th Edition By Paul Krugman, Robin Wells (All Chapters, 100% Original Verified, A+ Grade)

TEST BANK l#




Microeconomics, 9th edition
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by Perloff all Chapters 1 - 20
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,Tableof contents l #




1. Introduction
2. Supply and Demand
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3. Applying the Supply-and-Demand Model
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4. Consumer Choice #
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5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms andMarkets #
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9. Applying the CompetitiveModel
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10. General Equilibrium and Economic Welfare
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11. Monopoly
12. Pricing and Advertising g #
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13. Oligopoly andMonopolistic Competition #
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14. Game Theory #
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15. Factor Markets #
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16. Interest Rates, Investments, and CapitalMarkets
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17. Uncertainty
18. Externalities, Open-Access, and Public Goods #
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19. Asymmetric Information #
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20. Contracts and Moral Hazards #
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,Chapter#l1 Introduction
1.1 Microeconomics:#lThel#Allocation#lofl#Scarcel#Resources
1) Microeconomics l# studies l# the l# allocation l# of

A) decision l# makers.

B) scarce l# resources.

C) models.

D) unlimited l# resources
.gANSWER: l# B
Section:
The l# Allocation l # of l# Scarce l# Resource
l# sQuestion l# Status: l# l# Old
AACSB: Analytic l# thinking


2) Microeconomics l# is l# often l# called

A) price l# theory.

B) decision l# science.

C) scarcity.

D) resource l# theory
.gANSWER: l# A
Section:
The l# Allocation l # of l# Scarce l# Resource
l# sQuestion l# Status: l# l# Old
AACSB: Analytic l# thinking


3) Most l# microeconomic l# models l# assume l# that l# decision l# makers l# wish l# to

A) make l# themselvesgasgwell l# off l# as l# possible.

B) act l# selfishly.

C) make l# others l#as l# well l# off l# as l#possible.

D) None l# of l# the l# above
.gANSWER: l# A
Section:
The l# Allocation l # of l# Scarce l# Resource
sQuestion l# Status: l# l # Old
l#

AACSB: Analytic l # thinking


4) Society l#faces l#trade--‐‐offs l#because l#of
A) government l # regulations.
B) profit l# motive.

C) faceless l# bureaucrats.

, D) scarcity.
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l# ANSWER:
l # D
l# Section:
The l# Allocation l # of l# Scarce l# Resource
l# sQuestion l# Status: l# l# Old
AACSB: Analytic l# thinking