Test Bank for Microeconomics – 9th Edition by Jeffrey M. Perloff – Complete Chapters 1–20 Questions and Verified Answers

TEST nBANK nFor nMicroeconomics, n9th nedition n by nJeffrey nM. nPerloff, nChapters n1 n- n20

,Table nofncontents

1. Introduction

2. Supply nand nDemand

3. Applying nthe nSupply-and-Demand nModel

4. Consumer nChoice

5. Applying nConsumer nTheory

6. Firms nand nProduction

7. Costs

8. Competitive nFirms nand nMarkets

9. Applying nthe nCompetitive nModel

10. General nEquilibrium nand nEconomic nWelfare

11. Monopoly

12. Pricing nand nAdvertising

13. Oligopoly nand nMonopolistic nCompetition

14. Game nTheory

15. Factor nMarkets

16. Interest nRates, nInvestments, nand nCapital nMarkets

17. Uncertainty

18. Externalities, nOpen-Access, nand nPublic nGoods

19. Asymmetric nInformation

20. Contracts nand nMoral nHazards

,Chapter n1 Introduction



1.1 Microeconomics: nThe nAllocation nof nScarce nResources




1) Microeconomics n studies n the n allocation n of

A) decision n makers.

B) scarce n resources.

C) models.

D) unlimited
n resources. n
n ANSWER: nB
Section: The n Allocation n of n Scarce
n Resources n Question n Status: Old
AACSB: Analytic n thinking



2) Microeconomics n is n often n called

A) price n theory.

B) decision n science.

C) scarcity.

D) resource
n theory. n
n ANSWER: nA
Section: The n Allocation n of n Scarce
n Resources n Question n Status: Old
AACSB: Analytic n thinking



3) Most n microeconomic n models n assume n that n decision n makers n wish n to

A) make n themselves n as n well n off n as n possible.

B) act n selfishly.

C) make n others n as n well n off n as n possible.

, D) None n of n the
n above. n nANSWER:
A
n


Section: The n Allocation n of n Scarce n Resources