test bank principles of macroeconomics 8th canadian edition mankiw latest bank complete

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Test Bank Principles of Macroeconomics, 8th Canadian EditionMankiw
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,20/09/2020 TestvBankvPrinciplesvofvMacroeconomics,v8thvCanadianvEditionvManki
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1. WhichvwordvcomesvfromvthevGreekvwordvforv“onevwhovmanagesvavhousehold”?
2. market b.vbank


c.vgovernment d.veconomy




ANSWER:vd


1. Fromvwhichvofvthevfollowingvisvthevwordv“economy”v derived?
2. onevwhovconsumesvgoods b.vonevwhovmanagesvavhousehold


c.vonevwhovparticipatesvinvavmarketvv d.vonevwhovgovernsvavcountry




ANSWER:vb


1. Whatvdovhouseholdsvandveconomiesvhavevinvcommon?
2. Theyvbothvmustvallocatevscarcevresources.
3. Theyvbothvfacevdifficultiesvsavingvmoney.
4. Theyvbothvmustvsellvthevgoodsvandvservicesvtheyvproduce.
5. Theyvbothvmustvhavevavcentralvdecisionvmaker.




ANSWER:va




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, 2.vscarcity b.vpoverty
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c.vchange d.vpower




ANSWER:va


1. Whatvisv NOTv includedvinv thev decisionsvthatv everyv societyv mustv make?
2. whatvgoodsvwillvbevproduced b.vwhovwillvproducevthevgoods


c.vwhatvdeterminesvconsumervpreferencesvv d.vwhovwillvconsumevthevgoods




ANSWER:vc


1. Whyvdovbothvhouseholdsvandvsocietiesvfacevmanyvdecisions?
2. Resourcesvarevscarce.
3. Populationsvmayvfluctuatevovervtime.
4. Wagesvforvhouseholdsvandvthereforevsocietyvfluctuatevwithvbusinessvcycles.
5. People,vbyvnature,vtendvtovdisagree.




ANSWER:va


1. Whenvisvavgoodvconsideredvscarcevinvavsociety?
2. whenvmorevoutputvofvthevgoodvisvpossible
3. whenveveryonevinvthatvsocietyvcannotvhavevallvtheyvwantvofvthevgood
4. whenvthevgovernmentvrestrictsvproductionvofvthevgood
5. whenvonlyvthevrichestvpeoplevinvtheveconomyvcanvbuyvallvtheyvwantvofvthevgood




ANSWER:vb




1. Whenvdoesvscarcityvexist?
2. whenvtherevisvlessvthanvanvinfinitevamountvofvavresourcevorvgood
3. whenvsocietyvcanvmeetvthevwantsvofveveryvindividual
4. whenvtherevisvlessvofvavgoodvorvresourcevavailablevthanvpeoplevwishvtovhave
5. whenvthevgovernmentvfailsvtovproducevgoods




ANSWER:vc




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, 1.vHowvarevgoodsvandvservicesvallocatedvinvavmarketveconomy?
2.vbyvgovernmentvdecisions
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3.vbyvgivingveachvindividualvjustvenoughvforvavdecentvstandardvofvliving
4. byvthevactionsvofvallvfirmsvandvconsumers
5. byvinheritedvrightsvandvproperties




ANSWER:vc


10. Approximatelyvwhatvpercentagevofvthevworld’sveconomiesvexperiencevscarcity?va.v30vvv b.v45v


c.v60 d.v100




ANSWER:vd


11. Whatvisvanv economyv experiencingv whenv av societyv cannotv producevallvthevgoodsvandv servicesvpeoplev wishv tov have?


1.vscarcity b.veconomicvgrowth


c.vcompetition d.vmarketvfailure




ANSWER:va


12.Forvsociety,vwhenvisvavgoodvNOTvscarce?


1. ifvatvleastvonevindividualvinvsocietyvcanvobtainvallvhevorvshevwantsvofvthevgood
2. ifvfirmsvarevproducingvatvfullvcapacity
3. ifvallvmembersvofvsocietyvcanvhavevallvtheyvwantvofvthevgood
4. ifvthosevwhovhavevenoughvincomevcanvbuyvallvtheyvwantvofvthevgood




ANSWER:vc


13.Whichvgoodvbestvmeetsvthevdefinitionvofvscarcity?


1. air b.vwatervinvthevocean


c.velectricityvinvavcityvvv d.vwoodvinvavforest




ANSWER:vc




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