Test Bank for Essentials of Economics, 8th Edition by Glenn Hubbard.pdf

DOWNLOAD TH E Test Bank for Essentials of Economics 9th Edition Mankiw
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1 :mEconomistsmtrymtomaddressmtheirmsubjectmwith mamscientist’smobjectivity.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

2 :mEconomistsmdevisemtheories,mcollectmdata,mandmthenmanalyzemthesemdataminmanmattemptmtomver
ifymormrefutemtheirmtheories.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

3 :mThemscientificmmethodmismthemdispassionatemdevelopmentmandmtestingmofmtheoriesmaboutmho
w mthemworldmworks.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

4 :mThemscientificmmethodmcan mbemappliedmtomthemstudymof meconomics.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

5 :mWhilemthemscientificmmethodmismapplicablemtomstudyingmnatural msciences,mitmismnotmapplicablem
tomstudyingmamnation’smeconomy.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

6 :mFormeconomists,mconductingmexperimentsmismoften mdifficultmandmsometimesmimpossible.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

7 :mEconomistsmusuallymhavemtommakemdomwith mwhatevermdatamthemworldmhappensmtomgivemthem.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

8 :mItmismdifficultmformeconomistsmtommakemobservationsmandmdevelopmtheories,mbutmitmismeasymf
ormeconomistsmtomrun mexperimentsmtomgeneratemdatamtomtestmtheirmtheories.
Am:mtrue
Bm:mfalse


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9 :mSincemeconomistsmcannotmusemnatural mexperimentsmofferedmbymhistory,mtheymmustmusemcareful
lymconstructedmlaboratorymexperimentsminstead.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

10 :mHistorical mepisodesmaremnotmvaluablemtomeconomists.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

11 :mHistorical mepisodesmallow meconomistsmtomillustratemandmevaluatemcurrentmeconomicmtheories.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

12 :mGoodmassumptionsmsimplifymamproblemmwithoutmsubstantiallymaffectingmthemanswer.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

13 :mAssumptionsmcan msimplifymthemcomplexmworldmandmmakemitmeasiermtomunderstand.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

14 :mEconomistsmoftenmfindmitmworthwhilemtommakemassumptionsmthatmdomnotmnecessarilymdescri
bemthemreal mworld.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

15 :mEconomistsmusemonemstandardmsetmof massumptionsmtomanswermallmeconomicmquestions.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

16 :mEconomicmmodelsmaremmostmoften mcomposedmof mdiagramsmandmequations.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

17m:mEconomicmmodelsmomitmmanymdetailsmtomallow musmtomseemwhatmismtrulymimportant.
mynursytest.store 2m/m83

,DOWNLA O: At r Du e THE Test Bank for Essentials of Economics 9th Edition Mankiw
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Bm:mfalse

CorrectmAnswerm:mA

18 :mEconomicmmodelsmcanmhelpmusmunderstandmrealitymonlymwhenmtheymincludemallmdetailsmof mt
hemeconomy.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

19 :mAn meconomicmmodelmcanmaccuratelymexplainmhowmthemeconomymismorganizedmbecausemit
mismdesigned mtominclude,mtomthemextentmpossible,mall mfeaturesmof mthemreal mworld.

Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

20 :mAll mscientificmmodels,mincludingmeconomicmmodels,msimplifymrealityminmordermtomimprovemo
urmunderstandingmof mit.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

21 :mThemcircular-
flow mdiagrammexplains,minmgeneral mterms,mhowmthemeconomymismorganizedmandmhowmparticipan
tsmin mthemeconomyminteractmwith monemanother.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

22 :mAmcircular-flow mdiagrammismamvisual mmodel mof mthemeconomy.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

23 :mThemcircularmflowmmodelmismnotmusedmanymorembecausemitmfailsmtomperfectlymreplicatemreal mwo
rldmsituations.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

24 :mIn mthemcircular-flow mdiagram,mhouseholdsmandmfirmsmaremthemdecision mmakers.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA
25m:mIn mthemcircular-flow mdiagram,mfirmsmproducemgoodsmandmservicesmusingmthemfactorsmof
mynursytest.store 3m/m83

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m m m m m m m m m


Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

26 :mIn mthemcircular-
flow mdiagram,mfactorsmof mproduction maremthemgoodsmandmservicesmproducedmbymfirms.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

27 :mIn mthemcircular-flow mdiagram,mfactorsmof mproduction mincludemland,mlabor,mandmcapital.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

28 :mIn mthemcircular-
flow mdiagram,mfirmsmownmthemfactorsmof mproductionmandmusemthemmtomproducemgoodsmandmservi
ces.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

29 :mIn mthemcircular-flow mdiagram,mfirmsmconsumemall mthemgoodsmandmservicesmthatmtheymproduce.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mB

30 :mIn mthemcircular-
flow mdiagram,mthemtwomtypesmofmmarketsminmwhichmhouseholdsmandmfirmsminteractmaremthem
marketsmformgoodsmandmservicesmandmthemmarketsmformfactorsmof mproduction.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

31 :mIn mthemmarketsmformgoodsmandmservicesmin mthemcircular-
flow mdiagram,mhouseholdsmarembuyersmandmfirmsmaremsellers.
Am:mtrue
Bm:mfalse

CorrectmAnswerm:mA

32 :mIn mthemmarketsmformthemfactorsmof mproduction min mthemcircular-
flow mdiagram,mhouseholdsmarembuyersmandmfirmsmaremsellers.
Am:mtrue
Bm:mfalse

mynursytest.store 4m/m83