Test Bank for Essentials of Economics 8th Edition by N. Gregory Mankiw – All Chapters Covered

TEST BANK h




Essentials of Econ by N. Gregory Mankiw All
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Chapters 1 - 24omics 9th edition
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Page h1

,Table of Contents. h h




Part I: INTRODUCTION.
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1. Ten Principles of Economics.
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2. Thinking Like an Economist.
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3. Interdependence and the Gains from Trade.
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Part II: HOW MARKETS WORK.
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4. The Market Forces of Supply and Demand.
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5. Elasticity and Its Application.
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6. Supply, Demand, and Government Policies.
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Part III: MARKETS AND WELFARE.
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7. Consumers, Producers, and the Efficiency of Markets.
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8. Application: The Costs of Taxation.
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9. Application: International Trade.
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Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
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10. Externalities.
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11. Public Goods and Common Resources.
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Part V: Firm Behavior and the Organization of Industry.
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,12. The Costs of Production.
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13. Firms in Competitive Markets.
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14. Monopoly.
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Part VI: THE DATA OF MACROECONOMICS.
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15. Measuring a Nation’s Income.
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16. Measuring the Cost of Living.
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Part VII: THE REAL ECONOMY IN THE LONG RUN.
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17. Production and Growth.
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18. Saving, Investment, and the Financial System.
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19. The Basic Tools of Finance.
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20. Unemployment and Its Natural Rate.
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Part VIII: MONEY AND PRICES IN THE LONG RUN.
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21. The Monetary System.
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22. Money Growth and Inflation.
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Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
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23. Aggregate Demand and Aggregate Supply.
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24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
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, 1. Ten Principles of Economics.
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1. The hEnglish hword hthat hcomes hfrom hthe hGreek hword hfor h"one hwho hmanages ha hhousehold" his
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNING hOBJECTIVES: h ECON.MANK.012 h- hApply hbasic, heconomic hprinciples hof hindividual hdecision
h making hthat hdetermine hhow han heconomy hgenerally hworks.


TOPICS: Economic hthinking
KEYWORDS: BLOOM'S: hKnowledge
CUSTOM hID: 001.01.0 h- hMC h- hMANK08


2. The hword h“economy” hcomes hfrom hthe hGreek hword hoikonomos, hwhich hmeans
a. “environment.”
b. “production.”
c. “one hwho hmanages ha hhousehold.”
d. “one hwho hmakes hdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNING hOBJECTIVES: h ECON.MANK.012 h- hApply hbasic, heconomic hprinciples hof hindividual hdecision
h making hthat hdetermine hhow han heconomy hgenerally hworks.


TOPICS: Economic hthinking
KEYWORDS: BLOOM'S: hKnowledge
CUSTOM hID: 002.01.0 h- hMC h- hMANK08
3. Resources hare
a. scarce hfor hhouseholds hbut hplentiful hfor heconomies.
b. plentiful hfor hhouseholds hbut hscarce hfor heconomies.
c. scarce hfor hhouseholds hand hscarce hfor heconomies.
d. plentiful hfor hhouseholds hand hplentiful hfor heconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNING hOBJECTIVES: h ECON.MANK.012 h- hApply hbasic, heconomic hprinciples hof hindividual hdecision
h making hthat hdetermine hhow han heconomy hgenerally hworks.


TOPICS: Economic hthinking
h Scarcity


KEYWORDS: BLOOM'S: hComprehension

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