TEST BANK For Microeconomics Global Edition 9th Edition by Jeffrey M. Perloff, Verified Chapters 1 - 20, Complete Newest Version

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 h3




5. Applying Consumer Theory
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6. Firms and Production
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7. Costs

8. Competitive Firms and Markets h3 h3 h3




9. Applying the Competitive Model
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10. General Equilibrium and Economic Welfareh3 h3 h3 h3




11. Monopoly

12. Pricing and Advertising h3 h3




13. Oligopoly and Monopolistic Competition h3 h3 h3




14. Game Theory h3




15. Factor Markets h3

,16. Interest Rates, Investments, and Capital Markets
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17. Uncertainty

18. Externalities, Open-Access, and Public Goodsh3 h3 h3 h3




19. Asymmetric Information h3




20. Contracts and Moral Hazards h3 h3 h3




Chapter 1 h3 Introduction

1.1 Microeconomics: The Allocation of Scarce Resources h3 h3 h3 h3 h3




1) Microeconomics studies the allocation of h3 h3 h3 h3




A) decision makers. h3




B) scarce resources.
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C) models.

D) unlimited resources h3




.ANSWER: B
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Section:

The Allocation of Scarce Resourc
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esQuestion Status: Old
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AACSB: Analytic thinking h3




2) Microeconomics is often called h3 h3 h3




A) price theory.
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, B) decision science. h3




C) scarcity.

D) resource theory h3




.ANSWER: A
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Section:

The Allocation of Scarce Resourc
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esQuestion Status: Old
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AACSB: Analytic thinking h3




3) Most microeconomic models assume that decision makers wish to
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A) make themselves as well off as possible.
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B) act selfishly.
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C) make others as well off as possible.
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D) None of the abov h3 h3 h3




e. ANSWER: A
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Section:

The Allocation of Scarce Resourc
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esQuestion Status: Old
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AACSB: Analytic thinking h3




4) Society faces trade-­‐‑offs because of
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A) government regulations. h3




B) profit motive. h3




C) faceless bureaucrats. h3