Test Bank for Microeconomics, 9th Edition by Jeffrey M. Perloff | Chapters 1–20

TEST BANK FoTEr Microeconomics, 9th edition
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by Jeffrey M. Perloff, Chapters 1 - 20
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,Table of contents
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1. Introduction
2. Supply and Demand
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3. Applying the Supply-and-Demand Model
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4. Consumer Choice vh




5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms and Markets vh vh vh




9. Applying the Competitive Model
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10. General Equilibrium and Economic Welfare vh vh vh vh




11. Monopoly
12. Pricing and Advertising vh vh




13. Oligopoly and Monopolistic Competition vh vh vh




14. Game Theory vh




15. Factor Markets vh




16. Interest Rates, Investments, and Capital Markets vh vh vh vh vh




17. Uncertainty
18. Externalities, Open-Access, and Public Goods vh vh vh vh




19. Asymmetric Information vh




20. Contracts and Moral Hazards vh vh vh

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




1) Microeconomics studies the allocation of vh vh vh vh




A) decision makers. vh




B) scarce resources. vh




C) models.

D) unlimited
resources.ANSWER: B
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Section: The Allocation of Scarce
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2) Microeconomics is often called vh vh vh




A) price theory. vh




B) decision science. vh




C) scarcity.

D) resource
theory.ANSWER:
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A
Section: The Allocation of Scarce
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ResourcesQuestion Status:
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3) Most microeconomic models assume that decision makers wish to
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A) make themselves as well off as possible.
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B) act selfishly.
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C) make others as well off as possible.
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D) None of the vh vh




above.ANSWER:
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Section: The Allocation of Scarce
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ResourcesQuestion Status:
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AACSB: Analytic thinking vh




4) Society faces trade-­ ‑offs because of vh vh vh vh




A) government regulations. vh




B) profit motive. vh




C) faceless bureaucrats. vh

, D) scarcity.
ANSWER: D
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Section: The Allocation of Scarce
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ResourcesQuestion Status:
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AACSB: Analytic thinking
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