TEST BANK FOR MICROECONOMICS, 9TH
l# l# l# l#
l# EDITION
BY JEFFREY M. PERLOFF, CHAPTERS 1 - 20
l# l# l# l# l# l# l#
,Table of contents
l# l#
1. Introduction
2. Supply and Demand
l# l#
3. Applying the Supply-and-Demand Model
l# l# l#
4. Consumer Choice l#
5. Applying Consumer Theory
l# l#
6. Firms and Production
l# l#
7. Costs
8. Competitive Firms and Markets l# l# l#
9. Applying the Competitive Model
l# l# l#
10. General Equilibrium and Economic Welfare
l# l# l# l#
11. Monopoly
12. Pricing and Advertising l# l#
13. Oligopoly and Monopolistic Competition l# l# l#
14. Game Theory l#
15. Factor Markets l#
16. Interest Rates, Investments, and Capital Markets
l# l# l# l# l#
17. Uncertainty
18. Externalities, Open-Access, and Public Goods l# l# l# l#
19. Asymmetric Information l#
20. Contracts and Moral Hazards l# l# l#
,Chapter l#1 Introduction
1.1 Microeconomics: l#The l#Allocation l#of l#Scarce l#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.#lANSWER:
B
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: 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.#lANSWER:
A
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: 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# themselves l# as l# well 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.#lANSWER:
A
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: Old
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.
l# l# l# l#
l# EDITION
BY JEFFREY M. PERLOFF, CHAPTERS 1 - 20
l# l# l# l# l# l# l#
,Table of contents
l# l#
1. Introduction
2. Supply and Demand
l# l#
3. Applying the Supply-and-Demand Model
l# l# l#
4. Consumer Choice l#
5. Applying Consumer Theory
l# l#
6. Firms and Production
l# l#
7. Costs
8. Competitive Firms and Markets l# l# l#
9. Applying the Competitive Model
l# l# l#
10. General Equilibrium and Economic Welfare
l# l# l# l#
11. Monopoly
12. Pricing and Advertising l# l#
13. Oligopoly and Monopolistic Competition l# l# l#
14. Game Theory l#
15. Factor Markets l#
16. Interest Rates, Investments, and Capital Markets
l# l# l# l# l#
17. Uncertainty
18. Externalities, Open-Access, and Public Goods l# l# l# l#
19. Asymmetric Information l#
20. Contracts and Moral Hazards l# l# l#
,Chapter l#1 Introduction
1.1 Microeconomics: l#The l#Allocation l#of l#Scarce l#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.#lANSWER:
B
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: 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.#lANSWER:
A
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: 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# themselves l# as l# well 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.#lANSWER:
A
Section: The l# Allocation l# of l# Scarce
l# Resources#lQuestion l#Status: Old
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.
