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Test Bank for Microeconomics, Global Edition, 9th Edition
by Jeffrey M. Perloff
All Chapters (1–20) | Q&As Verified| Grade A+ Assured
ISBN 9781292446448
~1~
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TABLE OF CONTENTS
1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest Rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards
~2~
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Chapter 1 Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
1) Microeconomics studies the allocation of
A) decision makers.
B) scarce resources.
C) models.
D) unlimited resources.
ANSWER: B
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
2) Microeconomics isToften called
A) price theory.
B) decision science.
C) scarcity.
D) resource theory.
ANSWER: A
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
3) Most microeconomic models assume thatTdecision makersTwish to
A) make themselves as well off as possible.
B) act selfishly.
C) make others as well off as possible.
D) None of the above.
ANSWER: A
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Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
4) Society faces trade---‑offs because of
A) government regulations.
B) profit motive.
C) faceless bureaucrats.
D) scarcity
ANSWER:D
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
A market
E) always involves the personal exchange of goods for money.
F) allowsTinteractions between consumers and firms.
G) always takes place at a physical location.
H) hasTno influence on prices.TA NSWER: B
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
5) What links the decisions of consumers and firms in a market?
A) the government
B) prices
C) coordination officials
D) microeconomics
~4~
Test Bank for Microeconomics, Global Edition, 9th Edition
by Jeffrey M. Perloff
All Chapters (1–20) | Q&As Verified| Grade A+ Assured
ISBN 9781292446448
~1~
, THIS DOCUMENT BELONGS TO TESTBANKSPROF
TABLE OF CONTENTS
1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest Rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards
~2~
, THIS DOCUMENT BELONGS TO TESTBANKSPROF
Chapter 1 Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
1) Microeconomics studies the allocation of
A) decision makers.
B) scarce resources.
C) models.
D) unlimited resources.
ANSWER: B
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
2) Microeconomics isToften called
A) price theory.
B) decision science.
C) scarcity.
D) resource theory.
ANSWER: A
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
3) Most microeconomic models assume thatTdecision makersTwish to
A) make themselves as well off as possible.
B) act selfishly.
C) make others as well off as possible.
D) None of the above.
ANSWER: A
~3~
, THIS DOCUMENT BELONGS TO TESTBANKSPROF
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
4) Society faces trade---‑offs because of
A) government regulations.
B) profit motive.
C) faceless bureaucrats.
D) scarcity
ANSWER:D
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
A market
E) always involves the personal exchange of goods for money.
F) allowsTinteractions between consumers and firms.
G) always takes place at a physical location.
H) hasTno influence on prices.TA NSWER: B
Section:
The Allocation of Scarce ResourcesQu estion Status: Old
AACSB: Analytic thinking
5) What links the decisions of consumers and firms in a market?
A) the government
B) prices
C) coordination officials
D) microeconomics
~4~
