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Microeconomics 3rd Edition by Karlan CH01
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ANSWERS ARE LOCATED IN THE SECOND PART OF THIS DOCUMENT
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MULTIPLEfCHOICEf-
fChoosefthefonefalternativefthatfbestfcompletesfthefstatementforfanswersfthefquestion.
1) Thefprinciplesfoffeconomicsfcanfexplainfwhichfofftheffollowing?f1.
Whyfpeoplefchooseftofworkforfgoftofcollege
2. Whyfafcountryfmightfprosper
3. Howfthefvaluefoffmoneyfchangesfoverftime
1)ff
A) IIfandfIIIfonly
B) IfandfIIfonly
C) IIIfonly
D) I,fII,fandfIII
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatiblefBloom'sf:fUnder
stand
Difficultyf:f02fMedium
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fTopicf:fBasicfInsightsfoffE
conomics
2) Whofmakesfdecisionsfaboutfhowftofallocatefresources?
2)ff
A) Individuals
B) Businesses
C) Governments
D) Allfoffthesefmakefdecisionsfaboutfresourcefallocation.
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Microeconomics 3rd Edition by Karlan CH01
f f f f f
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatible
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fBloom'sf:fRemember
Difficultyf:f01fEasy
Topicf:fBasicfInsightsfoffEconomics
3) Whichfofftheffollowingfstatementsfbestfdescribesfthefstudyfoffeconomics?
3)ff
A) EconomicsfstudiesfhowfthefFederalfReservefhandlesffluctuationfinfbusinessfcycles.
B) Economicsfstudiesfhowfindividualsfandfgroupsfmanagefscarcefresources.
C) Economicsfstudiesfhowfpeoplefmaximizefreturnsfinfthefstockfmarket.
D) Economicsfstudiesfhowfgovernmentsfdeterminefappropriateftaxfrates.
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatible
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fBloom'sf:fRemember
Difficultyf:f01fEasy
Topicf:fBasicfInsightsfoffEconomics
4) Alanfcouldfapplyfthefprinciplesfoffeconomicfdecisionfmakingfwhenfdeciding:f1.
howftofspendfhisfpaycheck.
2. whoftofmarry.
3. whatftofhavefforfdinnerfafterfaflongfdayfatfwork.
4)ff
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Microeconomics 3rd Edition by Karlan CH01
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A) I,fII,fandfIII
B) Ifonly
C) IfandfIII
D) IIfandfIII
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatiblefBloom'sf:fUnder
stand
Difficultyf:f02fMedium
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fTopicf:fBasicfInsightsfoffE
conomics
5) Theftwofbroadffieldsfthatfmakefupfthefsubjectfoffeconomicsfare:
5)ff
A) microeconomicsfandfmacroeconomics.
B) personalfinvestmentsfandfbusinessfinvestments.
C) fiscalfpolicyfandfmonetaryfpolicy.
D) importsfandfexports.
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatible
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fBloom'sf:fRemember
Difficultyf:f01fEasy
Topicf:fBasicfInsightsfoffEconomics
6) Whichfofftheffollowingfisfconsideredfafmicroeconomicfissue?
6)ff
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Microeconomics 3rd Edition by Karlan CH01
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A) Theflocalfuniversityfdecidesftofraiseftuitionfforfonlinefcoursefofferings.
B) ThefcountryfoffZimbabwefhasfexperiencedfafdeclinefinfinflation.
C) ThefeconomicfgrowthfratefrisesfinfthefUnitedfStates.
D) ThefunemploymentfratefinfGreeceffalls.
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatiblefBloom'sf:fUnder
stand
Difficultyf:f02fMedium
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fTopicf:fMicrofversusfMacr
o
7) Whichfofftheffollowingfisfconsideredfafmicroeconomicfissue?
7)ff
A) ThefunemploymentfratefinfthefUnitedfStatesffromf1980ftofpresentfday
B) Apple'sfnewestfversionfoffthefiPhone
C) France’sfgrowthfratefoverftheflastfyear
D) Allfoffthesefarefexamplesfoffmicroeconomicfissues.
QuestionfDetails
AACSBf:fReflectivefThinkingfAccessibili
tyf:fKeyboardfNavigationfAccessibilityf:fS
creenfReaderfCompatiblefBloom'sf:fUnder
stand
Difficultyf:f02fMedium
LearningfObjectivef:f01-
01fExplainfthefeconomicfconceptfoffscarcity.fTopicf:fMicrofversusfMacr
o
8) SupposefDisneyfWorldfdecidesftofchargeflocalfresidentsfaflowerfpricefthanfotherfparkfvisi
tors.fThisfwouldffallfunderfwhichffieldfoffeconomics?
8)ff
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