TEST BANK Essentials of Economics by N. Gregory Mankiw All Chapters th edition

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TEST BANK
Essentials of Econ by N. Gregory Mankiw All
Chapters 1 - 24omics 10th edition
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Table of Contents.

Part I: INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
3. Interdependence and the Gains from Trade.
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Part II: HOW MARKETS WORK.
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4. The Market Forces of Supply and Demand.
5. Elasticity and Its Application.
6. Supply, Demand, and Government Policies.
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Part III: MARKETS AND WELFARE.
7. Consumers, Producers, and the Efficiency of Markets.
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8. Application: The Costs of Taxation.
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9. Application: International Trade.
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Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
10. Externalities.
11. Public Goods and Common Resources.


Part V: Firm Behavior and the Organization of Industry.

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12. The Costs of Production.
13. Firms in Competitive Markets.
14. Monopoly.


Part VI: THE DATA OF MACROECONOMICS.
15. Measuring a Nation’s Income.
16. Measuring the Cost of Living.
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Part VII: THE REAL ECONOMY IN THE LONG RUN.
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17. Production and Growth.
18. Saving, Investment, and the Financial System.
19. The Basic Tools of Finance.
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20. Unemployment and Its Natural Rate.
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Part VIII: MONEY AND PRICES IN THE LONG RUN.
21. The Monetary System.
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22. Money Growth and Inflation.
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Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
23. Aggregate Demand and Aggregate Supply.
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.




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1. Ten Principles of Economics.

1. The English word that comes from the Greek word for "one who manages a household" is
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNING OBJECTIVES: ECON.MANK.012 - Apply basic, economic principles of individual decision
making that determine how an economy generally works.
TOPICS: Economic thinking
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KEYWORDS: BLOOM'S: Knowledge
CUSTOM ID: 001.01.0 - MC - MANK08
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2. The word “economy” comes from the Greek word oikonomos, which means
a. “environment.”
b. “production.”
c. “one who manages a household.”
d. “one who makes decisions.”
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ANSWER: c
DIFFICULTY: Easy
LEARNING OBJECTIVES: ECON.MANK.012 - Apply basic, economic principles of individual decision
making that determine how an economy generally works.
U
TOPICS: Economic thinking
KEYWORDS: BLOOM'S: Knowledge
CUSTOM ID: 002.01.0 - MC - MANK08
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3. Resources are
a. scarce for households but plentiful for economies.
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b. plentiful for households but scarce for economies.
c. scarce for households and scarce for economies.
d. plentiful for households and plentiful for economies.
ANSWER: c
DIFFICULTY: Easy
LEARNING OBJECTIVES: ECON.MANK.012 - Apply basic, economic principles of individual decision
making that determine how an economy generally works.
TOPICS: Economic thinking
Scarcity
KEYWORDS: BLOOM'S: Comprehension

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