Test bank for Microeconomics 8th Edition by Jeffrey M. Perloff.

TEST BANK For Microeconomics, 9th edition
x x x x x




by Jeffrey M. Perloff, Chapters 1 - 20
x x x x x x x

,Table of contents
x x




1. Introduction
2. Supply and Demand
x x




3. Applying the Supply-and-Demand Model
x x x




4. Consumer Choice x




5. Applying Consumer Theory
x x




6. Firms and Production
x x




7. Costs
8. Competitive Firms and Markets x x x




9. Applying the Competitive Model
x x x




10. General Equilibrium and Economic Welfare
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11. Monopoly
12. Pricing and Advertising x x




13. Oligopoly and Monopolistic Competition x x x




14. Game Theory x




15. Factor Markets x




16. Interest Rates, Investments, and Capital Markets
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17. Uncertainty
18. Externalities, Open-Access, and Public Goods x x x x




19. Asymmetric Information x




20. Contracts and Moral Hazards x x x

,Chapter 1 x Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
x x x x x




1) Microeconomics xstudies xthe xallocation xof

A) decision xmakers.

B) scarce xresources.

C) models.

D) unlimited
resources.xANSWER: B
x



Section: The xAllocation xof xScarce
ResourcesxQuestion xStatus:
x Old
AACSB: Analytic xthinking


2) Microeconomics xis xoften xcalled

A) price xtheory.

B) decision xscience.

C) scarcity.

D) resource
theory.xANSWER:
x



A
Section: The xAllocation xof xScarce
ResourcesxQuestion xStatus:
x Old
AACSB: Analytic xthinking


3) Most xmicroeconomic xmodels xassume xthat xdecision xmakers xwish xto

A) make xthemselves xas xwell xoff xas xpossible.

B) act xselfishly.

C) make xothers xas xwell xoff xas xpossible.

D) None xof xthe
above.xANSWER:
x A
Section: The xAllocation xof xScarce
ResourcesxQuestion xStatus:
x Old
AACSB: Analytic xthinking
4) Society x faces xtrade-­ ‑offs xbecause xof

A) government xregulations.

B) profit xmotive.

C) faceless xbureaucrats.

, D) scarcity.
x ANSWER: D
Section: The xAllocation xof xScarce
ResourcesxQuestion xStatus:
x Old
AACSB: Analytic xthinking