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

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




Pagel2
1

,Table of Contents. l2 l2




Part I: INTRODUCTION.
l2 l2



1. Ten Principles of Economics.
l2 l2 l2 l2



2. Thinking Like an Economist.
l2 l2 l2 l2



3. Interdependence and the Gains from Trade.
l2 l2 l2 l2 l2 l2




Part II: HOW MARKETS WORK.
l2 l2 l2 l2



4. The Market Forces of Supply and Demand.
l2 l2 l2 l2 l2 l2 l2



5. Elasticity and Its Application.
l2 l2 l2 l2



6. Supply, Demand, and Government Policies.
l2 l2 l2 l2 l2




Part III: MARKETS AND WELFARE.
l2 l2 l2 l2



7. Consumers, Producers, and the Efficiency of Markets.
l2 l2 l2 l2 l2 l2 l2



8. Application: The Costs of Taxation.
l2 l2 l2 l2 l2



9. Application: International Trade.
l2 l2 l2




Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
l2 l2 l2 l2 l2 l2 l2



10. Externalities.
l2



11. Public Goods and Common Resources.
l2 l2 l2 l2 l2




Part V: Firm Behavior and the Organization of Industry.
l2 l2 l2 l2 l2 l2 l2 l2




Pagel2
2

,12. The Costs of Production.
l2 l2 l2 l2



13. Firms in Competitive Markets.
l2 l2 l2 l2



14. Monopoly.
l2




Part VI: THE DATA OF MACROECONOMICS.
l2 l2 l2 l2 l2



15. Measuring a Nation’s Income.
l2 l2 l2 l2



16. Measuring the Cost of Living.
l2 l2 l2 l2 l2




Part VII: THE REAL ECONOMY IN THE LONG RUN.
l2 l2 l2 l2 l2 l2 l2 l2



17. Production and Growth.
l2 l2 l2



18. Saving, Investment, and the Financial System.
l2 l2 l2 l2 l2 l2



19. The Basic Tools of Finance.
l2 l2 l2 l2 l2



20. Unemployment and Its Natural Rate.
l2 l2 l2 l2 l2




Part VIII: MONEY AND PRICES IN THE LONG RUN.
l2 l2 l2 l2 l2 l2 l2 l2



21. The Monetary System.
l2 l2 l2



22. Money Growth and Inflation.
l2 l2 l2 l2



Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
l2 l2 l2 l2



23. Aggregate Demand and Aggregate Supply.
l2 l2 l2 l2 l2



24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
l2 l2 l2 l2 l2 l2 l2 l2 l2 l2




Pagel2
3

, 1. Ten Principles of Economics.
l2 l2 l2 l2




1. Thel2Englishl2wordl2thatl2comesl2froml2thel2Greekl2wordl2forl2"onel2whol2managesl2al2household"l2is
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGl2OBJECTIVES:l 2 ECON.MANK.012l2-
l2Applyl2basic,l2economicl2principlesl2ofl2individuall2decisionl 2 makingl2thatl2det

erminel2howl2anl2economyl2generallyl2works.
TOPICS: Economicl2thinking
KEYWORDS: BLOOM'S:l2Knowledge
CUSTOMl2ID: 001.01.0l2-l2MCl2-l2MANK08


2. Thel2wordl2“economy”l2comesl2froml2thel2Greekl2wordl2oikonomos,l2whichl2means
a. “environment.”
b. “production.”
c. “onel2whol2managesl2al2household.”
d. “onel2whol2makesl2decisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGl2OBJECTIVES:l 2 ECON.MANK.012l2-
l2Applyl2basic,l2economicl2principlesl2ofl2individuall2decisionl 2 makingl2thatl2det

erminel2howl2anl2economyl2generallyl2works.
TOPICS: Economicl2thinking
KEYWORDS: BLOOM'S:l2Knowledge
CUSTOMl2ID: 002.01.0l2-l2MCl2-l2MANK08
3. Resourcesl2are
a. scarcel2forl2householdsl2butl2plentifull2forl2economies.
b. plentifull2forl2householdsl2butl2scarcel2forl2economies.
c. scarcel2forl2householdsl2andl2scarcel2forl2economies.
d. plentifull2forl2householdsl2andl2plentifull2forl2economies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGl2OBJECTIVES:l 2 ECON.MANK.012l2-
l2Applyl2basic,l2economicl2principlesl2ofl2individuall2decisionl 2 makingl2thatl2det

erminel2howl2anl2economyl2generallyl2works.
TOPICS:
Pagel2
4