TEST BANK For Microeconomics, 9th edition by Jeffrey M. Perloff, Chapters 1 - 20

TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20

,Table of contents

1. Introduction
2. Supply and Demand
3. Applying the Supply-and-Demand Model
4. Consumer Choice
5. Applying Consumer Theory
6. Firms and Production
7. Costs
8. Competitive Firms and Markets
9. Applying the Competitive Model
10. General Equilibrium and Economic Welfare
11. Monopoly
12. Pricing and Advertising
13. Oligopoly and Monopolistic Competition
14. Game Theory
15. Factor Markets
16. Interest Rates, Investments, and Capital Markets
17. Uncertainty
18. Externalities, Open-Access, and Public Goods
19. Asymmetric Information
20. Contracts and Moral Hazards

,Chapter 1 Introduction
1.1 Microeconomics: The Allocation of Scarce Resources
1) Microeconomics studies the allocation of

A) decision makers.

B) scarce resources.

C) models.

D) unlimited resources.
ANSWER: B
Section: The Allocation of Scarce Resources
Question Status: Old
AACSB: Analytic thinking


2) Microeconomicsryisryoftenrycalled

A) pricerytheory.

B) decisionryscience.

C) scarcity.

D) resourcerytheory.ry
ANSWER: A
Section:
TheryAllocationryofryScarceryResourcesQ
ry



uestionryStatus: Old
AACSB: Analyticrythinking


3) Mostrymicroeconomicrymodelsryassumerythatrydecisionrymakersrywishryto

A) makerythemselvesryasrywellryoffryasrypossible.

B) actryselfishly.

C) makeryothersryasrywellryoffryasrypossible.

D) Noneryofrytheryabove.ry
ANSWER: A
Section:
TheryAllocationryofryScarceryResourcesQ
ry



uestionryStatus: Old
AACSB: Analyticrythinking
4) Societyry facesry trade-­ ‑offsry becausery of

A) governmentryregulations.

B) profitrymotive.

C) facelessrybureaucrats.

, D) scarcity.ry
ANSWER: D
Section:
TheryAllocationryofryScarceryResourcesQ
ry



uestionryStatus: Old
AACSB: Analyticrythinking