TEST BANK For Microeconomics Global Edition 9th Edition by Jeffrey M. Perloff, Verified Chapters 1 - 20, Complete

TEST BANK For Microeconomics, 9th edition
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by Jeffrey M. Perloff, Chapters 1 - 20
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,Table of contents
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1. Introduction
2. Supply and Demand ss ss




3. Applying the Supply-and-Demand Model
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4. Consumer Choice ss




5. Applying Consumer Theory ss ss




6. Firms and Production
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7. Costs
8. Competitive Firms and Markets ss ss ss




9. Applying the Competitive Model ss ss ss




10.General Equilibrium and Economic Welfare
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11.Monopoly
12.Pricing and Advertising ss ss




13.Oligopoly and Monopolistic Competition ss ss ss




14.Game Theory ss




15.Factor Markets ss




16.Interest Rates, Investments, and Capital Markets
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17.Uncertainty
18.Externalities, Open-Access, and Public Goods ss ss ss ss




19.Asymmetric Information ss




20.Contracts and Moral Hazards ss ss ss




Chapter 1 ss Introduction

1.1 Microeconomics: The Allocation of Scarce Resources ss ss ss ss ss

,1) Microeconomics studies the allocation of ss ss ss ss




A) decision makers. ss




B) scarce resources. ss




C) models.

D) unlimited
ss resources.ANSWER: s B
Section: The Allocation of Scarce
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ss Resources Question Status: s ss Old
AACSB: Analytic thinking ss




2) Microeconomics is often called ss ss ss




A) price theory. ss




B) decision science. ss




C) scarcity.

D) resource
ss theory.ANSWER: s




A
Section: The Allocation of Scarce
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ss Resources Question Status: s ss Old
AACSB: Analytic thinking ss




3) Most microeconomic models assume that decision makers wish to
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A) make themselves as well off as possible.
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B) act selfishly.
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C) make others as well off as possible.
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D) None of the ss ss




ss above.ANSWER:
s A
Section: The Allocation of Scarce
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ss Resources Question Status: s ss Old
AACSB: Analytic thinking ss




4) Society faces trade-­ ‑offs because of
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A) government regulations. ss




B) profit motive. ss




C) faceless bureaucrats. ss

, D) scarcity.
ss ANSWER: D
Section: The Allocation of Scarce
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ss Resources Question Status:
s ss Old
AACSB: Analytic thinking
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