Test Bank for Essentials of Economics 8th Edition by N. Gregory Mankiw – All Chapters Covered

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Essentials of Econ by N. Gregory Mankiw All
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Chapters 1 - 24omics 9th edition
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,Table of Contents. b b




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. The bEnglish bword bthat bcomes bfrom bthe bGreek bword bfor b"one bwho bmanages ba bhousehold" bis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNING bOBJECTIVES: b ECON.MANK.012 b- bApply bbasic, beconomic bprinciples bof bindividual bdecision
b making bthat bdetermine bhow ban beconomy bgenerally bworks.

TOPICS: Economic bthinking
KEYWORDS: BLOOM'S: bKnowledge
CUSTOM bID: 001.01.0 b- bMC b- bMANK08


2. The bword b“economy” bcomes bfrom bthe bGreek bword boikonomos, bwhich bmeans
a. “environment.”
b. “production.”
c. “one bwho bmanages ba bhousehold.”
d. “one bwho bmakes bdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNING bOBJECTIVES: b ECON.MANK.012 b- bApply bbasic, beconomic bprinciples bof bindividual bdecision
b making bthat bdetermine bhow ban beconomy bgenerally bworks.

TOPICS: Economic bthinking
KEYWORDS: BLOOM'S: bKnowledge
CUSTOM bID: 002.01.0 b- bMC b- bMANK08
3. Resources bare
a. scarce bfor bhouseholds bbut bplentiful bfor beconomies.
b. plentiful bfor bhouseholds bbut bscarce bfor beconomies.
c. scarce bfor bhouseholds band bscarce bfor beconomies.
d. plentiful bfor bhouseholds band bplentiful bfor beconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNING bOBJECTIVES: b ECON.MANK.012 b- bApply bbasic, beconomic bprinciples bof bindividual bdecision
b making bthat bdetermine bhow ban beconomy bgenerally bworks.

TOPICS: Economic bthinking
b Scarcity

KEYWORDS: BLOOM'S: bComprehension

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