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TEST BANK
Essentials of Econ by N. Gregory Mankiw All
Chapters 1 - 24omics 9th edition
Pageh1
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Table of Contents. h h
Part I: INTRODUCTION.
h h
1. Ten Principles of Economics.
h h h h
2. Thinking Like an Economist.
h h h h
3. Interdependence and the Gains from Trade.
h h h h h h
Part II: HOW MARKETS WORK.
h h h h
4. The Market Forces of Supply and Demand.
h h h h h h h
5. Elasticity and Its Application.
h h h h
6. Supply, Demand, and Government Policies.
h h h h h
Part III: MARKETS AND WELFARE.
h h h h
7. Consumers, Producers, and the Efficiency of Markets.
h h h h h h h
8. Application: The Costs of Taxation.
h h h h h
9. Application: International Trade.
h h h
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
h h h h h h h
10. Externalities.
h
11. Public Goods and Common Resources.
h h h h h
Part V: Firm Behavior and the Organization of Industry.
h h h h h h h h
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12. The Costs of Production.
h h h h
13. Firms in Competitive Markets.
h h h h
14. Monopoly.
h
Part VI: THE DATA OF MACROECONOMICS.
h h h h h
15. Measuring a Nation’s Income.
h h h h
16. Measuring the Cost of Living.
h h h h h
Part VII: THE REAL ECONOMY IN THE LONG RUN.
h h h h h h h h
17. Production and Growth.
h h h
18. Saving, Investment, and the Financial System.
h h h h h h
19. The Basic Tools of Finance.
h h h h h
20. Unemployment and Its Natural Rate.
h h h h h
Part VIII: MONEY AND PRICES IN THE LONG RUN.
h h h h h h h h
21. The Monetary System.
h h h
22. Money Growth and Inflation.
h h h h
Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
h h h h
23. Aggregate Demand and Aggregate Supply.
h h h h h
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
h h h h h h h h h h
Pageh3
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1. Ten Principles of Economics.
h h h h
1. ThehEnglishhwordhthathcomeshfromhthehGreekhwordhforh"onehwhohmanageshahhousehold"his
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 001.01.0h-hMCh-hMANK08
2. Thehwordh“economy”hcomeshfromhthehGreekhwordhoikonomos,hwhichhmeans
a. “environment.”
b. “production.”
c. “onehwhohmanageshahhousehold.”
d. “onehwhohmakeshdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 002.01.0h-hMCh-hMANK08
3. Resourceshare
a. scarcehforhhouseholdshbuthplentifulhforheconomies.
b. plentifulhforhhouseholdshbuthscarcehforheconomies.
c. scarcehforhhouseholdshandhscarcehforheconomies.
d. plentifulhforhhouseholdshandhplentifulhforheconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS:
Pageh4
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TEST BANK
Essentials of Econ by N. Gregory Mankiw All
Chapters 1 - 24omics 9th edition
Pageh1
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,https://www.stuvia.com/user/gabrielucky https://www.stuvia.com/user/gabrielucky https://www.stuvia.com/user/gabrielucky
Table of Contents. h h
Part I: INTRODUCTION.
h h
1. Ten Principles of Economics.
h h h h
2. Thinking Like an Economist.
h h h h
3. Interdependence and the Gains from Trade.
h h h h h h
Part II: HOW MARKETS WORK.
h h h h
4. The Market Forces of Supply and Demand.
h h h h h h h
5. Elasticity and Its Application.
h h h h
6. Supply, Demand, and Government Policies.
h h h h h
Part III: MARKETS AND WELFARE.
h h h h
7. Consumers, Producers, and the Efficiency of Markets.
h h h h h h h
8. Application: The Costs of Taxation.
h h h h h
9. Application: International Trade.
h h h
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
h h h h h h h
10. Externalities.
h
11. Public Goods and Common Resources.
h h h h h
Part V: Firm Behavior and the Organization of Industry.
h h h h h h h h
Pageh2
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12. The Costs of Production.
h h h h
13. Firms in Competitive Markets.
h h h h
14. Monopoly.
h
Part VI: THE DATA OF MACROECONOMICS.
h h h h h
15. Measuring a Nation’s Income.
h h h h
16. Measuring the Cost of Living.
h h h h h
Part VII: THE REAL ECONOMY IN THE LONG RUN.
h h h h h h h h
17. Production and Growth.
h h h
18. Saving, Investment, and the Financial System.
h h h h h h
19. The Basic Tools of Finance.
h h h h h
20. Unemployment and Its Natural Rate.
h h h h h
Part VIII: MONEY AND PRICES IN THE LONG RUN.
h h h h h h h h
21. The Monetary System.
h h h
22. Money Growth and Inflation.
h h h h
Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
h h h h
23. Aggregate Demand and Aggregate Supply.
h h h h h
24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
h h h h h h h h h h
Pageh3
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1. Ten Principles of Economics.
h h h h
1. ThehEnglishhwordhthathcomeshfromhthehGreekhwordhforh"onehwhohmanageshahhousehold"his
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 001.01.0h-hMCh-hMANK08
2. Thehwordh“economy”hcomeshfromhthehGreekhwordhoikonomos,hwhichhmeans
a. “environment.”
b. “production.”
c. “onehwhohmanageshahhousehold.”
d. “onehwhohmakeshdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS: Economichthinking
KEYWORDS: BLOOM'S:hKnowledge
CUSTOMhID: 002.01.0h-hMCh-hMANK08
3. Resourceshare
a. scarcehforhhouseholdshbuthplentifulhforheconomies.
b. plentifulhforhhouseholdshbuthscarcehforheconomies.
c. scarcehforhhouseholdshandhscarcehforheconomies.
d. plentifulhforhhouseholdshandhplentifulhforheconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGhOBJECTIVES:h ECON.MANK.012h-
hApplyhbasic,heconomichprincipleshofhindividualhdecisionh makinghthathdetermi
nehhowhanheconomyhgenerallyhworks.
TOPICS:
Pageh4
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