TEST BANK For Microeconomics, 9th edition
b b b b b
by Jeffrey M. Perloff, Chapters 1 - 20
b b b b b b b
,Table of contents
b b
1. Introduction
2. Supply and Demand
b b
3. Applying the Supply-and-Demand Model
b b b
4. Consumer Choice b
5. Applying Consumer Theory
b b
6. Firms and Production
b b
7. Costs
8. Competitive Firms and Markets b b b
9. Applying the Competitive Model
b b b
10. General Equilibrium and Economic Welfare b b b b
11. Monopoly
12. Pricing and Advertising b b
13. Oligopoly and Monopolistic Competition b b b
14. Game Theory b
15. Factor Markets b
16. Interest Rates, Investments, and Capital Markets
b b b b b
17. Uncertainty
18. Externalities, Open-Access, and Public Goods b b b b
19. Asymmetric Information b
20. Contracts and Moral Hazards b b b
,Chapter 1 b Introduction
1.1 Microeconomics: The Allocation of Scarce Resources b b b b b
1) Microeconomics studies the allocation of b b b b
A) decision makers. b
B) scarce resources. b
C) models.
D) unlimited
b resources.ANSWER: B b
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
2) Microeconomics is often called b b b
A) price theory. b
B) decision science. b
C) scarcity.
D) resource
b theory.ANSWER:b
A
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
3) Most microeconomic models assume that decision makers wish to
b b b b b b b b
A) make themselves as well off as possible.
b b b b b b
B) act selfishly.
b
C) make others as well off as possible.
b b b b b b
D) None of the b b
b above.ANSWER:
b A
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
4) Society faces trade- ‑offs because of
b b b b
A) government regulations. b
B) profit motive. b
C) faceless bureaucrats. b
, D) scarcity.
b ANSWER: D
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status:
b b Old
AACSB: Analytic thinking
b
b b b b b
by Jeffrey M. Perloff, Chapters 1 - 20
b b b b b b b
,Table of contents
b b
1. Introduction
2. Supply and Demand
b b
3. Applying the Supply-and-Demand Model
b b b
4. Consumer Choice b
5. Applying Consumer Theory
b b
6. Firms and Production
b b
7. Costs
8. Competitive Firms and Markets b b b
9. Applying the Competitive Model
b b b
10. General Equilibrium and Economic Welfare b b b b
11. Monopoly
12. Pricing and Advertising b b
13. Oligopoly and Monopolistic Competition b b b
14. Game Theory b
15. Factor Markets b
16. Interest Rates, Investments, and Capital Markets
b b b b b
17. Uncertainty
18. Externalities, Open-Access, and Public Goods b b b b
19. Asymmetric Information b
20. Contracts and Moral Hazards b b b
,Chapter 1 b Introduction
1.1 Microeconomics: The Allocation of Scarce Resources b b b b b
1) Microeconomics studies the allocation of b b b b
A) decision makers. b
B) scarce resources. b
C) models.
D) unlimited
b resources.ANSWER: B b
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
2) Microeconomics is often called b b b
A) price theory. b
B) decision science. b
C) scarcity.
D) resource
b theory.ANSWER:b
A
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
3) Most microeconomic models assume that decision makers wish to
b b b b b b b b
A) make themselves as well off as possible.
b b b b b b
B) act selfishly.
b
C) make others as well off as possible.
b b b b b b
D) None of the b b
b above.ANSWER:
b A
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status: b b Old
AACSB: Analytic thinking b
4) Society faces trade- ‑offs because of
b b b b
A) government regulations. b
B) profit motive. b
C) faceless bureaucrats. b
, D) scarcity.
b ANSWER: D
Section: The Allocation of Scarce
b b b
b ResourcesQuestion Status:
b b Old
AACSB: Analytic thinking
b
