Test bank for essentials of economics 9th edition by mankiw - Copy

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




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 vEnglish vword vthat vcomes vfrom vthe vGreek vword vfor v"one vwho vmanages va vhousehold" vis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNING vOBJECTIVES: v ECON.MANK.012 v- vApply vbasic, veconomic vprinciples vof vindividual vdecision
v making vthat vdetermine vhow van veconomy vgenerally vworks.


TOPICS: Economic vthinking
KEYWORDS: BLOOM'S: vKnowledge
CUSTOM vID: 001.01.0 v- vMC v- vMANK08


2. The vword v“economy” vcomes vfrom vthe vGreek vword voikonomos, vwhich vmeans
a. “environment.”
b. “production.”
c. “one vwho vmanages va vhousehold.”
d. “one vwho vmakes vdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNING vOBJECTIVES: v ECON.MANK.012 v- vApply vbasic, veconomic vprinciples vof vindividual vdecision
v making vthat vdetermine vhow van veconomy vgenerally vworks.


TOPICS: Economic vthinking
KEYWORDS: BLOOM'S: vKnowledge
CUSTOM vID: 002.01.0 v- vMC v- vMANK08
3. Resources vare
a. scarce vfor vhouseholds vbut vplentiful vfor veconomies.
b. plentiful vfor vhouseholds vbut vscarce vfor veconomies.
c. scarce vfor vhouseholds vand vscarce vfor veconomies.
d. plentiful vfor vhouseholds vand vplentiful vfor veconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNING vOBJECTIVES: v ECON.MANK.012 v- vApply vbasic, veconomic vprinciples vof vindividual vdecision
v making vthat vdetermine vhow van veconomy vgenerally vworks.


TOPICS: Economic vthinking
v Scarcity


KEYWORDS: BLOOM'S: vComprehension

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