TEST BANK
n
Essentials of Econ by N. Gregory Mankiw All Chapt
n n n n n n n n
ers 1 - 24omics 9th edition
n n n n n
Pagen
1
,Table of Contents.
n n
PartnI:nINTRODUCTION.
1.nTennPrinciplesnofnEconomics.
2.nThinkingnLikenannEconomist.
3.nInterdependencenandnthenGainsnfromnTrade.
PartnII:nHOWnMARKETSnWORK.
4.nThenMarketnForcesnofnSupplynandnDemand.
5.nElasticitynandnItsnApplication.
6.nSupply,nDemand,nandnGovernmentnPolicies.
PartnIII:nMARKETSnANDnWELFARE.
7.nConsumers,nProducers,nandnthenEfficiencynofnMarkets.
8.nApplication:nThenCostsnofnTaxation.
9.nApplication:nInternationalnTrade.
PartnIV:nTHEnECONOMICSnOFnTHEnPUBLICnSECTOR.
10.nExternalities.
11.nPublicnGoodsnandnCommonnResources.
PartnV:nFirmnBehaviornandnthenOrganizationnofnIndustry.
Pagen
2
,12.nThenCostsnofnProduction.
13.nFirmsninnCompetitivenMarkets.
14.nMonopoly.
PartnVI:nTHEnDATAnOFnMACROECONOMICS.
15.nMeasuringnanNation’snIncome.
16.nMeasuringnthenCostnofnLiving.
PartnVII:nTHEnREALnECONOMYnINnTHEnLONGnRUN.
17.nProductionnandnGrowth.
18.nSaving,nInvestment,nandnthenFinancialnSystem.
19.nThenBasicnToolsnofnFinance.
20.nUnemploymentnandnItsnNaturalnRate.
PartnVIII:nMONEYnANDnPRICESnINnTHEnLONGnRUN.
21.nThenMonetarynSystem.
22.nMoneynGrowthnandnInflation.
PartnIX:nSHORT-RUNnECONOMICnFLUCTUATIONS.
23.nAggregatenDemandnandnAggregatenSupply.
24.nThenInfluencenofnMonetarynandnFiscalnPolicynonnAggregatenDemand.
Pagen
3
, 1.nTennPrinciplesnofnEconomics.
1. ThenEnglishnwordnthatncomesnfromnthenGreeknwordnforn"onenwhonmanagesnanhousehold"nis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS: Economicnthinking
KEYWORDS: BLOOM'S:nKnowledge
CUSTOMnID: 001.01.0n-nMCn-nMANK08
2. Thenwordn“economy”ncomesnfromnthenGreeknwordnoikonomos,nwhichnmeans
a. “environment.”
b. “production.”
c. “onenwhonmanagesnanhousehold.”
d. “onenwhonmakesndecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS: Economicnthinking
KEYWORDS: BLOOM'S:nKnowledge
CUSTOMnID: 002.01.0n-nMCn-nMANK08
3. Resourcesnare
a. scarcenfornhouseholdsnbutnplentifulnforneconomies.
b. plentifulnfornhouseholdsnbutnscarcenforneconomies.
c. scarcenfornhouseholdsnandnscarcenforneconomies.
d. plentifulnfornhouseholdsnandnplentifulnforneconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS:
Pagen
4
n
Essentials of Econ by N. Gregory Mankiw All Chapt
n n n n n n n n
ers 1 - 24omics 9th edition
n n n n n
Pagen
1
,Table of Contents.
n n
PartnI:nINTRODUCTION.
1.nTennPrinciplesnofnEconomics.
2.nThinkingnLikenannEconomist.
3.nInterdependencenandnthenGainsnfromnTrade.
PartnII:nHOWnMARKETSnWORK.
4.nThenMarketnForcesnofnSupplynandnDemand.
5.nElasticitynandnItsnApplication.
6.nSupply,nDemand,nandnGovernmentnPolicies.
PartnIII:nMARKETSnANDnWELFARE.
7.nConsumers,nProducers,nandnthenEfficiencynofnMarkets.
8.nApplication:nThenCostsnofnTaxation.
9.nApplication:nInternationalnTrade.
PartnIV:nTHEnECONOMICSnOFnTHEnPUBLICnSECTOR.
10.nExternalities.
11.nPublicnGoodsnandnCommonnResources.
PartnV:nFirmnBehaviornandnthenOrganizationnofnIndustry.
Pagen
2
,12.nThenCostsnofnProduction.
13.nFirmsninnCompetitivenMarkets.
14.nMonopoly.
PartnVI:nTHEnDATAnOFnMACROECONOMICS.
15.nMeasuringnanNation’snIncome.
16.nMeasuringnthenCostnofnLiving.
PartnVII:nTHEnREALnECONOMYnINnTHEnLONGnRUN.
17.nProductionnandnGrowth.
18.nSaving,nInvestment,nandnthenFinancialnSystem.
19.nThenBasicnToolsnofnFinance.
20.nUnemploymentnandnItsnNaturalnRate.
PartnVIII:nMONEYnANDnPRICESnINnTHEnLONGnRUN.
21.nThenMonetarynSystem.
22.nMoneynGrowthnandnInflation.
PartnIX:nSHORT-RUNnECONOMICnFLUCTUATIONS.
23.nAggregatenDemandnandnAggregatenSupply.
24.nThenInfluencenofnMonetarynandnFiscalnPolicynonnAggregatenDemand.
Pagen
3
, 1.nTennPrinciplesnofnEconomics.
1. ThenEnglishnwordnthatncomesnfromnthenGreeknwordnforn"onenwhonmanagesnanhousehold"nis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS: Economicnthinking
KEYWORDS: BLOOM'S:nKnowledge
CUSTOMnID: 001.01.0n-nMCn-nMANK08
2. Thenwordn“economy”ncomesnfromnthenGreeknwordnoikonomos,nwhichnmeans
a. “environment.”
b. “production.”
c. “onenwhonmanagesnanhousehold.”
d. “onenwhonmakesndecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS: Economicnthinking
KEYWORDS: BLOOM'S:nKnowledge
CUSTOMnID: 002.01.0n-nMCn-nMANK08
3. Resourcesnare
a. scarcenfornhouseholdsnbutnplentifulnforneconomies.
b. plentifulnfornhouseholdsnbutnscarcenforneconomies.
c. scarcenfornhouseholdsnandnscarcenforneconomies.
d. plentifulnfornhouseholdsnandnplentifulnforneconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGnOBJECTIVES:n ECON.MANK.012n-
nApplynbasic,neconomicnprinciplesnofnindividualndecisionn makingnthatndet
erminenhownanneconomyngenerallynworks.
TOPICS:
Pagen
4
