Test Bank for Microeconomics 9th Edition by Jeffry M. Perloff

TEST BANK For Microeconomics, 9th edition by Jeffrey M. Perloff, Chapters 1 - 20 Tablet of t contents 1. Introduction 2. Supplyt andt Demand 3. Applyingt thet Supply-and-Demandt Model 4. Consumert Choice 5. Applyingt Consumert Theory 6. Firmst andt Production 7. Costs 8. Competitivet Firmst andt Markets 9. Applyingt thet Competitivet Model 10. General t Equilibriumt andt Economict Welfare 11. Monopoly 12. Pricingt andt Advertising 13. Oligopolyt andt Monopolistict Competition 14. Gamet Theory 15. Factort Markets 16. Interestt Rates, t Investments, t andt Capital t Markets 17. Uncertainty 18. Externalities, t Open-Access, t andt Publict Goods 19. Asymmetrict Information 20. Contractst andt Moral t Hazards Chaptert 1.1 1 Introduction Microeconomics:t Thet Allocationt oft Scarcet Resources 1) Microeconomicststudiestthetallocationtof A) decisiontmakers. B) scarcetresources. C) models. D) unlimitedtresources.tA NSWER: B Section: ThetAllocationtoftScarcetResourcestQu estiontStatus: AACSB: Old Analytictthinking 2) Microeconomicstistoftentcalled A) pricettheory. B) decisiontscience. C) scarcity. D) resourcettheory.t ANSWER: A Section: ThetAllocationtoftScarcetResourcestQu estiontStatus: AACSB: Old Analytictthinking 3) Mosttmicroeconomictmodelstassumetthattdecisiontmakerstwishtto A) maketthemselvestastwelltofftastpossible. B) acttselfishly. C) maketotherstastwelltofftastpossible. D) Nonetoftthetabove.tA NSWER: A Section: ThetAllocationtoftScarcetResourcestQu estiontStatus: AACSB: Old Analytictthinking 4) Societytfacesttrade-‑offstbecausetof A) governmenttregulations. B) profittmotive. C) facelesstbureaucrats. D) scarcity.tA NSWER: D Section: ThetAllocationtoftScarcetResourcestQu estiontStatus: AACSB: Old Analytictthinking 5) Atmarket A) alwaystinvolvestthetpersonaltexchangetoftgoodstfortmoney. B) allowstinteractionstbetweentconsumerstandtfirms. C) alwaysttakestplacetattatphysicaltlocation. D) hastnotinfluencetontprices.tA NSWER: B Section: ThetAllocationtoftScarcetResourc