ALL CHAPTERS COVERED
,1. The Market
2. Budget Constraint
3. Preferences
4. Utility
5. Choice
6. Demand
7. Revealed Preference
8. Slutsky Equation
9. Buying and Selling
10. Intertemporal Choice
11. Asset Markets
12. Uncertainty
13. Risky Assets
14. Consumer's Surplus
15. Market Demand
16. Equilibrium
17. Measurement
18. Auctions
19. Technology
20. Profit Maximization
21. Cost Minimization
22. Cost Curves
23. Firm Supply
,24. Industry Supply
25. Monopoly
26. Monopoly Behavior
27. Factor Markets
28. Oligopoly
29. Game Theory
30. Game Applications
31. Behavioral Economics
32. Exchange
33. Production
34. Welfare
35. Externalities
36. Public Goods
37. Asymmetric Information
38. Information Technology
, Chapter 2
True-False Budget Constraint
Topic: Budget Constraint Diculty: 1
% Correct Responses: 90 Discrimination Index: 10
Correct Answer: False
2.1 If there are two goods with positive prices and the price of one good is reduced, while income
and other prices remain constant, then the size of the budget set is reduced.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 76 Discrimination Index: 24
Correct Answer: False
2.2 If good 1 is measured on the horizontal axis and good 2 is measured on the vertical axis, and
if the price of good 1 is 1 and the price of good 2 is 2 then the slope of the budget line is , 2 1.
p p ; p =p
Topic: Budget Constraint Diculty: 1
% Correct Responses: 91 Discrimination Index: 13
Correct Answer: False
2.3 If all prices are doubled and money income is left the same, the budget set does not change
because relative prices don't change.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 93 Discrimination Index: 21
Correct Answer: True
2.4 If there are two goods, and if one good has a negative price and the other has a positive
price, then the slope of the budget line will be positive.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 94 Discrimination Index: 12
Correct Answer: False
2.5 If all prices double and income triples, then the budget line will become steeper.
,1. The Market
2. Budget Constraint
3. Preferences
4. Utility
5. Choice
6. Demand
7. Revealed Preference
8. Slutsky Equation
9. Buying and Selling
10. Intertemporal Choice
11. Asset Markets
12. Uncertainty
13. Risky Assets
14. Consumer's Surplus
15. Market Demand
16. Equilibrium
17. Measurement
18. Auctions
19. Technology
20. Profit Maximization
21. Cost Minimization
22. Cost Curves
23. Firm Supply
,24. Industry Supply
25. Monopoly
26. Monopoly Behavior
27. Factor Markets
28. Oligopoly
29. Game Theory
30. Game Applications
31. Behavioral Economics
32. Exchange
33. Production
34. Welfare
35. Externalities
36. Public Goods
37. Asymmetric Information
38. Information Technology
, Chapter 2
True-False Budget Constraint
Topic: Budget Constraint Diculty: 1
% Correct Responses: 90 Discrimination Index: 10
Correct Answer: False
2.1 If there are two goods with positive prices and the price of one good is reduced, while income
and other prices remain constant, then the size of the budget set is reduced.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 76 Discrimination Index: 24
Correct Answer: False
2.2 If good 1 is measured on the horizontal axis and good 2 is measured on the vertical axis, and
if the price of good 1 is 1 and the price of good 2 is 2 then the slope of the budget line is , 2 1.
p p ; p =p
Topic: Budget Constraint Diculty: 1
% Correct Responses: 91 Discrimination Index: 13
Correct Answer: False
2.3 If all prices are doubled and money income is left the same, the budget set does not change
because relative prices don't change.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 93 Discrimination Index: 21
Correct Answer: True
2.4 If there are two goods, and if one good has a negative price and the other has a positive
price, then the slope of the budget line will be positive.
Topic: Budget Constraint Diculty: 1
% Correct Responses: 94 Discrimination Index: 12
Correct Answer: False
2.5 If all prices double and income triples, then the budget line will become steeper.
