Economics 12th Edition
ST
TEST BANK
UV
IA
David Colander
_A
PP
Comprehensive Test Bank for Instructors
RO
and Students
VE
© David Colander. All rights reserved. Reproduction or distribution without permission is
prohibited.
D?
?
©MEDGEEK
, TABLE OF CONTENTS
Test Bank – Economics, 12th Edition (ISBN 9781266691195)
David Colander
ST
PART I: Thinking Like an Economist
Chapter 1. Economics and Economic Reasoning,
Chapter 2. The Production Possibility Model, Trade, and Globalization,
UV
Chapter 3. Economic Institutions,
Chapter 4. Supply and Demand,
Chapter 5. Using Supply and Demand,
PART II: Microeconomics — The Power of Traditional Economic Models
IA
Chapter 6. Describing Supply and Demand: Elasticities,
Chapter 7. Taxation and Government Intervention,
Chapter 8. Market Failure versus Government Failure,
_A
International Economic Policy Issues
Chapter 9. Comparative Advantage, Exchange Rates, and Globalization,
Chapter 10. International Trade Policy,
PP
Production and Cost Analysis
Chapter 11. Production and Cost Analysis I,
Chapter 12. Production and Cost Analysis II,
RO
Market Structure
Chapter 13. Perfect Competition,
Chapter 14. Monopoly and Monopolistic Competition,
Chapter 15. Oligopoly and Antitrust Policy,
Chapter 15W. Politics and Economics: The Case of Agricultural Markets,
VE
Chapter 16. Real-World Competition and Technology,
Factor Markets
Chapter 17. Work and the Labor Market,
D?
Chapter 18. Who Gets What? The Distribution of Income,
Choice and Decision Making
Chapter 19. The Logic of Individual Choice,
Chapter 20. Game Theory, Strategic Decision Making, and Behavioral
?
Economics,
©MEDGEEK
, Modern Economic Thinking
Chapter 21. Thinking Like a Modern Economist,
Chapter 22. Behavioral Economics and Modern Economic Policy,
Chapter 23. Microeconomic Policy, Economic Reasoning, and Beyond,
ST
PART III: Macroeconomics
UV
Macroeconomic Basics
Chapter 24. Economic Growth, Business Cycles, and Unemployment,
Chapter 25. Measuring and Describing the Aggregate Economy,
IA
Policy Models
Chapter 26. The Keynesian Short-Run Policy Model: Demand-Side Policies,
Chapter 26W. The Multiplier Model,
_A
Chapter 27. The Classical Long-Run Policy Model: Growth and Supply-Side
Policies,
Finance, Money, and the Economy
Chapter 28. The Financial Sector and the Economy,
PP
Chapter 29. Conventional Monetary Policy,
Chapter 30. Financial Crises, Regulation, and the Crypto Challenge,
Taxes, Budgets, and Fiscal Policy
RO
Chapter 31. Deficits and Debt: The Austerity Debate,
Chapter 32. The Fiscal Policy Dilemma,
Macroeconomic Problems
Chapter 33. Jobs and Unemployment,
VE
Chapter 34. Inflation, Deflation, and Macro Policy,
International Macroeconomic Policy Issues
Chapter 35. International Financial Policy,
Chapter 36. Macro Policy in a Global Setting,
D?
Chapter 37. Structural Stagnation, Globalization, and the Post-COVID Blues,
Chapter 38. Macro Policy in Developing Countries
?
©MEDGEEK
, Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The answers to an economy's three central economic problems are determined by the
interaction of three forces: economic forces, political forces, and social forces.
ST
⊚ true
⊚ false
2) Scarcity exists because economies cannot produce enough to meet the perceived desires of
UV
all individuals.
⊚ true
⊚ false
3) Only marginal costs, not sunk costs, affect economic decisions if individuals are rational.
IA
⊚ true
⊚ false
_A
4) The economic decision rule is to undertake an action only when the marginal benefits of that
action are greater than its total costs.
⊚ true
⊚ false
PP
5) The opportunity cost of undertaking an activity includes any sunk cost.
⊚ true
⊚ false
RO
6) The "invisible hand" is the price mechanism that guides people’s actions in the market.
⊚ true
⊚ false
7) Social and political forces affect the way in which the invisible hand works.
VE
⊚ true
⊚ false
8) Macroeconomics is the study of how individual choices are affected by economic forces.
D?
⊚ true
⊚ false
?
Version 1 1
ST
TEST BANK
UV
IA
David Colander
_A
PP
Comprehensive Test Bank for Instructors
RO
and Students
VE
© David Colander. All rights reserved. Reproduction or distribution without permission is
prohibited.
D?
?
©MEDGEEK
, TABLE OF CONTENTS
Test Bank – Economics, 12th Edition (ISBN 9781266691195)
David Colander
ST
PART I: Thinking Like an Economist
Chapter 1. Economics and Economic Reasoning,
Chapter 2. The Production Possibility Model, Trade, and Globalization,
UV
Chapter 3. Economic Institutions,
Chapter 4. Supply and Demand,
Chapter 5. Using Supply and Demand,
PART II: Microeconomics — The Power of Traditional Economic Models
IA
Chapter 6. Describing Supply and Demand: Elasticities,
Chapter 7. Taxation and Government Intervention,
Chapter 8. Market Failure versus Government Failure,
_A
International Economic Policy Issues
Chapter 9. Comparative Advantage, Exchange Rates, and Globalization,
Chapter 10. International Trade Policy,
PP
Production and Cost Analysis
Chapter 11. Production and Cost Analysis I,
Chapter 12. Production and Cost Analysis II,
RO
Market Structure
Chapter 13. Perfect Competition,
Chapter 14. Monopoly and Monopolistic Competition,
Chapter 15. Oligopoly and Antitrust Policy,
Chapter 15W. Politics and Economics: The Case of Agricultural Markets,
VE
Chapter 16. Real-World Competition and Technology,
Factor Markets
Chapter 17. Work and the Labor Market,
D?
Chapter 18. Who Gets What? The Distribution of Income,
Choice and Decision Making
Chapter 19. The Logic of Individual Choice,
Chapter 20. Game Theory, Strategic Decision Making, and Behavioral
?
Economics,
©MEDGEEK
, Modern Economic Thinking
Chapter 21. Thinking Like a Modern Economist,
Chapter 22. Behavioral Economics and Modern Economic Policy,
Chapter 23. Microeconomic Policy, Economic Reasoning, and Beyond,
ST
PART III: Macroeconomics
UV
Macroeconomic Basics
Chapter 24. Economic Growth, Business Cycles, and Unemployment,
Chapter 25. Measuring and Describing the Aggregate Economy,
IA
Policy Models
Chapter 26. The Keynesian Short-Run Policy Model: Demand-Side Policies,
Chapter 26W. The Multiplier Model,
_A
Chapter 27. The Classical Long-Run Policy Model: Growth and Supply-Side
Policies,
Finance, Money, and the Economy
Chapter 28. The Financial Sector and the Economy,
PP
Chapter 29. Conventional Monetary Policy,
Chapter 30. Financial Crises, Regulation, and the Crypto Challenge,
Taxes, Budgets, and Fiscal Policy
RO
Chapter 31. Deficits and Debt: The Austerity Debate,
Chapter 32. The Fiscal Policy Dilemma,
Macroeconomic Problems
Chapter 33. Jobs and Unemployment,
VE
Chapter 34. Inflation, Deflation, and Macro Policy,
International Macroeconomic Policy Issues
Chapter 35. International Financial Policy,
Chapter 36. Macro Policy in a Global Setting,
D?
Chapter 37. Structural Stagnation, Globalization, and the Post-COVID Blues,
Chapter 38. Macro Policy in Developing Countries
?
©MEDGEEK
, Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The answers to an economy's three central economic problems are determined by the
interaction of three forces: economic forces, political forces, and social forces.
ST
⊚ true
⊚ false
2) Scarcity exists because economies cannot produce enough to meet the perceived desires of
UV
all individuals.
⊚ true
⊚ false
3) Only marginal costs, not sunk costs, affect economic decisions if individuals are rational.
IA
⊚ true
⊚ false
_A
4) The economic decision rule is to undertake an action only when the marginal benefits of that
action are greater than its total costs.
⊚ true
⊚ false
PP
5) The opportunity cost of undertaking an activity includes any sunk cost.
⊚ true
⊚ false
RO
6) The "invisible hand" is the price mechanism that guides people’s actions in the market.
⊚ true
⊚ false
7) Social and political forces affect the way in which the invisible hand works.
VE
⊚ true
⊚ false
8) Macroeconomics is the study of how individual choices are affected by economic forces.
D?
⊚ true
⊚ false
?
Version 1 1
