TEST BANK Essentials of Economics 10th edition by N. Gregory Mankiw All Chapters 1 - 24

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TEST BANK l# l#




Essentials of Economicsl# l# l#




l# 10th edition by Mankiw All Chapters 1 – 24
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Table of Contents.
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Part I: INTRODUCTION.
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1. Ten Principles of Economics.
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2. Thinking Like an Economist.
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3. Interdependence and the Gains from Trade.
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Part II: HOW MARKETS WORK.
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4. The Market Forces of Supply and Demand.
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5. Elasticity and Its Application.
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6. Supply, Demand, and Government Policies.
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Part III: MARKETS AND WELFARE.
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7. Consumers, Producers, and the Efficiency of Markets.
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8. Application: The Costs of Taxation.
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9. Application: International Trade.
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Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
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10. Externalities.
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11. Public Goods and Common Resources.
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Part V: Firm Behavior and the Organization of Industry.
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12. The Costs of Production.
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13. Firms in Competitive Markets.
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14. Monopoly.
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Part VI: THE DATA OF MACROECONOMICS.
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15. Measuring a Nation’s Income.
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,16. Measuring the Cost of Living.
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Part VII: THE REAL ECONOMY IN THE LONG RUN.
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17. Production and Growth.
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18. Saving, Investment, and the Financial System.
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19. The Basic Tools of Finance.
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20. Unemployment and Its Natural Rate.
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Part VIII: MONEY AND PRICES IN THE LONG RUN.
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21. The Monetary System.
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22. Money Growth and Inflation.
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Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
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23. Aggregate Demand and Aggregate Supply.
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24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
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1. Ten Principles of Economics.
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1. ThegEnglishgwordgthatgcomesgfromgthegGreekgwordgforg"onegwhogmanagesgaghousehold"gis l#
a. market. l#
b. consumer. l#
c. producer. l#
d. economy. l#
ANSWER: l# d l#
DIFFICULTY: l# Easy l#
LEARNINGgOBJECTIVES:g l#ECON.MANK.012g-
gApplygbasic,geconomicgprinciplesgofgindividualgdecisiong

l#makinggthatgdetermi l#neghowgangeconomyggenerallygworks. l#

TOPICS: l# Economicgthinking l#
KEYWORDS: l# BLOOM'S:gKnowledge l#
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2. Thegwordg“economy”gcomesgfromgthegGreekgwordgoikonomos,gwhichgmeans l#
a. “environment.” l#
b. “production.” l#

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, c. “onegwhogmanagesgaghousehold.” l#
d. “onegwhogmakesgdecisions.” l#
ANSWER: l# c l#DIFFICULTY: l# Easy
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LEARNINGgOBJECTIVES:g l#ECON.MANK.012g-
gApplygbasic,geconomicgprinciplesgofgindividualgdecisiong

l#makinggthatgdetermi l#neghowgangeconomyggenerallygworks. l#

TOPICS: l# Economicgthinking l#
KEYWORDS: l# BLOOM'S:gKnowledge l#
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3. Resourcesgare l#
a. scarcegforghouseholdsgbutgplentifulgforgeconomies. l#
b. plentifulgforghouseholdsgbutgscarcegforgeconomies. l#
c. scarcegforghouseholdsgandgscarcegforgeconomies. l#
d. plentifulgforghouseholdsgandgplentifulgforgeconomies. l#
ANSWER: l# c l#DIFFICULTY: l# Easy
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LEARNINGgOBJECTIVES:g l#ECON.MANK.012g-
gApplygbasic,geconomicgprinciplesgofgindividualgdecisiong

l#makinggthatgdetermi l#neghowgangeconomyggenerallygworks. l#


TOPICS:
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KEYWORDS: l# BLOOM'S:gComprehension
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CUSTOMgID: l# 003.01.0g-gMCg-gMANK08 l#
4. Ingconsideringghowgtogallocategitsgscarcegresourcesgamonggitsgvariousgmembers,gaghouseholdgconsiders
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