TEST BANK Essentials of Economics by N. Gregory MankiwAll Chapters 1 - 24 9th edition

TEST BANK
Essentials of Econ by N. Gregory Mankiw All
Chapters 1 - 24omics 9th edition




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,Table of Contents.

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. The1bEnglish1bword1bthat1bcomes1bfrom1bthe1bGreek1bword1bfor1b"one1bwho1bmanages1ba1bhousehold"1bis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNING1bOBJECTIVES:1 b ECON.MANK.0121b-
1bApply1bbasic,1beconomic1bprinciples1bof1bindividual1bdecision1 b making1bthat1

bdetermine1bhow1ban1beconomy1bgenerally1bworks.

TOPICS: Economic1bthinking
KEYWORDS: BLOOM'S:1bKnowledge
CUSTOM1bID: 001.01.01b-1bMC1b-1bMANK08


2. The1bword1b“economy”1bcomes1bfrom1bthe1bGreek1bword1boikonomos,1bwhich1bmeans
a. “environment.”
b. “production.”
c. “one1bwho1bmanages1ba1bhousehold.”
d. “one1bwho1bmakes1bdecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNING1bOBJECTIVES:1 b ECON.MANK.0121b-
1bApply1bbasic,1beconomic1bprinciples1bof1bindividual1bdecision1 b making1bthat1

bdetermine1bhow1ban1beconomy1bgenerally1bworks.

TOPICS: Economic1bthinking
KEYWORDS: BLOOM'S:1bKnowledge
CUSTOM1bID: 002.01.01b-1bMC1b-1bMANK08
3. Resources1bare
a. scarce1bfor1bhouseholds1bbut1bplentiful1bfor1beconomies.
b. plentiful1bfor1bhouseholds1bbut1bscarce1bfor1beconomies.
c. scarce1bfor1bhouseholds1band1bscarce1bfor1beconomies.
d. plentiful1bfor1bhouseholds1band1bplentiful1bfor1beconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNING1bOBJECTIVES:1 b ECON.MANK.0121b-
1bApply1bbasic,1beconomic1bprinciples1bof1bindividual1bdecision1 b making1bthat1

bdetermine1bhow1ban1beconomy1bgenerally1bworks.

TOPICS:
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