STUVIA?_APPROVED??
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TABLE OF CONTENTS
Test Bank: Essentials of Economics 11th Edition
Author: Gregory Mankiw
Part I. Introduction
Chapter 1. Ten Principles of Economics
Chapter 2. Thinking Like an Economist
Chapter 3. Interdependence and the Gains from Trade
Part II. How Markets Work
Chapter 4. The Market Forces of Supply and Demand
Chapter 5. Elasticity and Its Application
Chapter 6. Supply, Demand, and Government Policies
Part III. Markets and Welfare
Chapter 7. Consumers, Producers, and the Efficiency Of Markets
Chapter 8. Application: The Costs of Taxation
Chapter 9. Application: International Trade
Part IV. The Economics of the Public Sector
Chapter 10. Externalities
Chapter 11. Public Goods and Common Resources
Part V. Firm Behavior and the Organization of Industry
Chapter 12. The Costs of Production
Chapter 13. Firms in Competitive Markets
Chapter 14. Monopoly
Part VI. The Data of Macroeconomics
Chapter 15. Measuring a Nation’s Income
Chapter 16. Measuring the Cost of Living
, STUVIA?_APPROVED??
Part VII. The Real Economy in the Long Run
Chapter 17. Production and Growth
Chapter 18. Saving, Investment, and the Financial System
Chapter 19. The Basic Tools of Finance
Chapter 20. Unemployment
Part VIII. Money and Prices in the Long Run
Chapter 21. The Monetary System
Chapter 22. Money Growth and Inflation
Part IX. Short-Run Economic Fluctuations
Chapter 23. Aggregate Demand and Aggregate Supply
Chapter 24. The Influence of Monetary and Fiscal Policy on Aggregate Demand
, STUVIA?_APPROVED??
Name: Class: Date:
Ch 01: MC
1. Resources are
a. scarce for households but plentiful for economies.
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
2. Fundamentally, economics deals with
a. scarcity.
b. money.
c. poverty.
d. banking.
ANSWER: a
3. The overriding reason why households and societies face many decisions is that
a. resources are scarce.
b. goods and services are not scarce.
c. incomes fluctuate with business cycles.
d. people, by nature, tend to disagree.
ANSWER: a
4. The phenomenon of scarcity stems from the fact that
a. most economies' production methods are not very good.
b. in most economies, wealthy people consume disproportionate quantities of goods and services.
c. governments restrict production of too many goods and services.
d. resources are limited.
ANSWER: d
5. In most societies, resources are allocated by
a. a single central planner.
b. a small number of central planners.
c. those firms that use resources to provide goods and services.
d. the combined actions of millions of households and firms.
ANSWER: d
, STUVIA?_APPROVED??
TABLE OF CONTENTS
Test Bank: Essentials of Economics 11th Edition
Author: Gregory Mankiw
Part I. Introduction
Chapter 1. Ten Principles of Economics
Chapter 2. Thinking Like an Economist
Chapter 3. Interdependence and the Gains from Trade
Part II. How Markets Work
Chapter 4. The Market Forces of Supply and Demand
Chapter 5. Elasticity and Its Application
Chapter 6. Supply, Demand, and Government Policies
Part III. Markets and Welfare
Chapter 7. Consumers, Producers, and the Efficiency Of Markets
Chapter 8. Application: The Costs of Taxation
Chapter 9. Application: International Trade
Part IV. The Economics of the Public Sector
Chapter 10. Externalities
Chapter 11. Public Goods and Common Resources
Part V. Firm Behavior and the Organization of Industry
Chapter 12. The Costs of Production
Chapter 13. Firms in Competitive Markets
Chapter 14. Monopoly
Part VI. The Data of Macroeconomics
Chapter 15. Measuring a Nation’s Income
Chapter 16. Measuring the Cost of Living
, STUVIA?_APPROVED??
Part VII. The Real Economy in the Long Run
Chapter 17. Production and Growth
Chapter 18. Saving, Investment, and the Financial System
Chapter 19. The Basic Tools of Finance
Chapter 20. Unemployment
Part VIII. Money and Prices in the Long Run
Chapter 21. The Monetary System
Chapter 22. Money Growth and Inflation
Part IX. Short-Run Economic Fluctuations
Chapter 23. Aggregate Demand and Aggregate Supply
Chapter 24. The Influence of Monetary and Fiscal Policy on Aggregate Demand
, STUVIA?_APPROVED??
Name: Class: Date:
Ch 01: MC
1. Resources are
a. scarce for households but plentiful for economies.
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
2. Fundamentally, economics deals with
a. scarcity.
b. money.
c. poverty.
d. banking.
ANSWER: a
3. The overriding reason why households and societies face many decisions is that
a. resources are scarce.
b. goods and services are not scarce.
c. incomes fluctuate with business cycles.
d. people, by nature, tend to disagree.
ANSWER: a
4. The phenomenon of scarcity stems from the fact that
a. most economies' production methods are not very good.
b. in most economies, wealthy people consume disproportionate quantities of goods and services.
c. governments restrict production of too many goods and services.
d. resources are limited.
ANSWER: d
5. In most societies, resources are allocated by
a. a single central planner.
b. a small number of central planners.
c. those firms that use resources to provide goods and services.
d. the combined actions of millions of households and firms.
ANSWER: d
