Economics – 12th Edition
ST
TEST BANK
UV
IA
?_
David Colander
AP
Comprehensive Test Bank for Instructors
PR
and Students
OV
© David Colander. All rights reserved. Reproduction or distribution without permission is
prohibited.
ED
??
©DREAMSHUB
, Economics (12th Edition)
Author: David Colander
Test Bank
ISBN: 9781266691195
ST
TABLE OF CONTENTS
UV
Part I: Thinking Like an Economist
Chapter 1: Economics and Economic Reasoning
Chapter 2: The Production Possibility Model, Trade, and Globalization
Chapter 3: Economic Institutions (Appendix: The History of Economic Systems)
Chapter 4: Supply and Demand
IA
Chapter 5: Using Supply and Demand
Part II: Microeconomics — The Power of Traditional Economic Models
?_
Chapter 6: Describing Supply and Demand: Elasticities
Chapter 7: Taxation and Government Intervention
Chapter 8: Market Failure versus Government Failure
AP
International Economic Policy Issues
Chapter 9: Comparative Advantage, Exchange Rates, and Globalization
Chapter 10: International Trade Policy
Production and Cost Analysis
PR
Chapter 11: Production and Cost Analysis I
Chapter 12: Production and Cost Analysis II
Market Structure
OV
Chapter 13: Perfect Competition
Chapter 14: Monopoly and Monopolistic Competition
Chapter 15: Oligopoly and Antitrust Policy
Chapter 15W: Politics and Economics: The Case of Agricultural Markets
Chapter 16: Real-World Competition and Technology
ED
Factor Markets
Chapter 17: Work and the Labor Market
Chapter 18: Who Gets What? The Distribution of Income
??
Choice and Decision Making
Chapter 19: The Logic of Individual Choice
Chapter 20: Game Theory, Strategic Decision Making, and Behavioral
Economics
©DREAMSHUB
, Modern Economic Thinking
Chapter 21: Thinking Like a Modern Economist
Chapter 22: Behavioral Economics and Modern Economic Policy
Chapter 23: Microeconomic Policy, Economic Reasoning, and Beyond
ST
Part III: Macroeconomics
UV
Macroeconomic Basics
Chapter 24: Economic Growth, Business Cycles, and Unemployment
Chapter 25: Measuring and Describing the Aggregate Economy
Policy Models
IA
Chapter 26: The Keynesian Short-Run Policy Model: Demand-Side Policies
Chapter 26W: The Multiplier Model
Chapter 27: The Classical Long-Run Policy Model: Growth and Supply-Side
?_
Policies
Finance, Money, and the Economy
Chapter 28: The Financial Sector and the Economy
AP
Chapter 29: Conventional Monetary Policy
Chapter 30: Financial Crises, Regulation, and the Crypto Challenge
Taxes, Budgets, and Fiscal Policy
Chapter 31: Deficits and Debt: The Austerity Debate
PR
Chapter 32: The Fiscal Policy Dilemma
Macroeconomic Problems
Chapter 33: Jobs and Unemployment
OV
Chapter 34: Inflation, Deflation, and Macro Policy
International Macroeconomic Policy Issues
Chapter 35: International Financial Policy
Chapter 36: Macro Policy in a Global Setting
ED
Chapter 37: Structural Stagnation, Globalization, and the Post-COVID Blues
Chapter 38: Macro Policy in Developing Countries
??
©DREAMSHUB
, Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The answers to an economy's three central economic problems are determined by the
ST
interaction of three forces: economic forces, political forces, and social forces.
⊚ true
⊚ false
UV
2) Scarcity exists because economies cannot produce enough to meet the perceived desires of
all individuals.
⊚ true
⊚ false
IA
3) Only marginal costs, not sunk costs, affect economic decisions if individuals are rational.
⊚ true
⊚ false
?_
4) The economic decision rule is to undertake an action only when the marginal benefits of that
action are greater than its total costs.
⊚ true
AP
⊚ false
5) The opportunity cost of undertaking an activity includes any sunk cost.
⊚ true
⊚ false
PR
6) The "invisible hand" is the price mechanism that guides people’s actions in the market.
⊚ true
⊚ false
OV
7) Social and political forces affect the way in which the invisible hand works.
⊚ true
⊚ false
ED
8) Macroeconomics is the study of how individual choices are affected by economic forces.
⊚ true
⊚ false
??
Version 1 1
ST
TEST BANK
UV
IA
?_
David Colander
AP
Comprehensive Test Bank for Instructors
PR
and Students
OV
© David Colander. All rights reserved. Reproduction or distribution without permission is
prohibited.
ED
??
©DREAMSHUB
, Economics (12th Edition)
Author: David Colander
Test Bank
ISBN: 9781266691195
ST
TABLE OF CONTENTS
UV
Part I: Thinking Like an Economist
Chapter 1: Economics and Economic Reasoning
Chapter 2: The Production Possibility Model, Trade, and Globalization
Chapter 3: Economic Institutions (Appendix: The History of Economic Systems)
Chapter 4: Supply and Demand
IA
Chapter 5: Using Supply and Demand
Part II: Microeconomics — The Power of Traditional Economic Models
?_
Chapter 6: Describing Supply and Demand: Elasticities
Chapter 7: Taxation and Government Intervention
Chapter 8: Market Failure versus Government Failure
AP
International Economic Policy Issues
Chapter 9: Comparative Advantage, Exchange Rates, and Globalization
Chapter 10: International Trade Policy
Production and Cost Analysis
PR
Chapter 11: Production and Cost Analysis I
Chapter 12: Production and Cost Analysis II
Market Structure
OV
Chapter 13: Perfect Competition
Chapter 14: Monopoly and Monopolistic Competition
Chapter 15: Oligopoly and Antitrust Policy
Chapter 15W: Politics and Economics: The Case of Agricultural Markets
Chapter 16: Real-World Competition and Technology
ED
Factor Markets
Chapter 17: Work and the Labor Market
Chapter 18: Who Gets What? The Distribution of Income
??
Choice and Decision Making
Chapter 19: The Logic of Individual Choice
Chapter 20: Game Theory, Strategic Decision Making, and Behavioral
Economics
©DREAMSHUB
, Modern Economic Thinking
Chapter 21: Thinking Like a Modern Economist
Chapter 22: Behavioral Economics and Modern Economic Policy
Chapter 23: Microeconomic Policy, Economic Reasoning, and Beyond
ST
Part III: Macroeconomics
UV
Macroeconomic Basics
Chapter 24: Economic Growth, Business Cycles, and Unemployment
Chapter 25: Measuring and Describing the Aggregate Economy
Policy Models
IA
Chapter 26: The Keynesian Short-Run Policy Model: Demand-Side Policies
Chapter 26W: The Multiplier Model
Chapter 27: The Classical Long-Run Policy Model: Growth and Supply-Side
?_
Policies
Finance, Money, and the Economy
Chapter 28: The Financial Sector and the Economy
AP
Chapter 29: Conventional Monetary Policy
Chapter 30: Financial Crises, Regulation, and the Crypto Challenge
Taxes, Budgets, and Fiscal Policy
Chapter 31: Deficits and Debt: The Austerity Debate
PR
Chapter 32: The Fiscal Policy Dilemma
Macroeconomic Problems
Chapter 33: Jobs and Unemployment
OV
Chapter 34: Inflation, Deflation, and Macro Policy
International Macroeconomic Policy Issues
Chapter 35: International Financial Policy
Chapter 36: Macro Policy in a Global Setting
ED
Chapter 37: Structural Stagnation, Globalization, and the Post-COVID Blues
Chapter 38: Macro Policy in Developing Countries
??
©DREAMSHUB
, Student name:__________
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) The answers to an economy's three central economic problems are determined by the
ST
interaction of three forces: economic forces, political forces, and social forces.
⊚ true
⊚ false
UV
2) Scarcity exists because economies cannot produce enough to meet the perceived desires of
all individuals.
⊚ true
⊚ false
IA
3) Only marginal costs, not sunk costs, affect economic decisions if individuals are rational.
⊚ true
⊚ false
?_
4) The economic decision rule is to undertake an action only when the marginal benefits of that
action are greater than its total costs.
⊚ true
AP
⊚ false
5) The opportunity cost of undertaking an activity includes any sunk cost.
⊚ true
⊚ false
PR
6) The "invisible hand" is the price mechanism that guides people’s actions in the market.
⊚ true
⊚ false
OV
7) Social and political forces affect the way in which the invisible hand works.
⊚ true
⊚ false
ED
8) Macroeconomics is the study of how individual choices are affected by economic forces.
⊚ true
⊚ false
??
Version 1 1
