TEST BANK FOR MICROECONOMICS, 17TH CANADIAN
EDITION BY CAMPBELL MC CONNELL,STANLEY
BRUE,SEAN FLYNN,TOM BARBIERO
,TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL,STANLEY BRUE,SEAN FLYNN,TOM BARBIERO
Test Bank For Microeconomics, 17th
Canadian Edition by Campbell Mc
Connell,Stanley Brue,Sean
Chap 01 17ce - McConnell
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Rational individuals may make different choices because their information and circumstances differ.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-01 Rational individuals may make different choi...
2) Positive economics tells us that: Certain inherently desirable products such as education and health
care should be produced so long as resources are available.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Medium
Learning Objective : 01-02 Define economics and the economic perspective.
pg. 1
, 2
TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL, STANLEY BRUE, SEAN FLYNN, TOM BARBIERO
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-02 Positive economics tells us that: Certain in...
3) Marginal analysis means that decision-makers compare the extra benefits with the extra costs of a
specific choice.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-03 Marginal analysis means that decision-makers...
4) Choices entail marginal costs because resources are scarce.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-04 Choices entail marginal costs because resour...
5) If economic theories are solidly based on relevant facts, then there can be no question as to the
character of appropriate economic policy.
⊚ true
pg. 2
, TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL,STANLEY BRUE,SEAN FLYNN,TOM BARBIERO
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-03 Describe the role of economic theory in economics.
Topic : 01-03 Theories, Principles, and Models
Source : Chapter 01 Test Bank > TB 01-05 If economic theories are solidly based on re...
6) The fact that economic generalizations are abstract renders them impractical and useless.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-03 Describe the role of economic theory in economics.
Topic : 01-03 Theories, Principles, and Models
Source : Chapter 01 Test Bank > TB 01-06 The fact that economic generalizations are a...
7) Macroeconomics explains the behaviour of individual households and business firms;
microeconomics is concerned with the behaviour of aggregates or the economy as a whole.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
pg. 3
EDITION BY CAMPBELL MC CONNELL,STANLEY
BRUE,SEAN FLYNN,TOM BARBIERO
,TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL,STANLEY BRUE,SEAN FLYNN,TOM BARBIERO
Test Bank For Microeconomics, 17th
Canadian Edition by Campbell Mc
Connell,Stanley Brue,Sean
Chap 01 17ce - McConnell
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Rational individuals may make different choices because their information and circumstances differ.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-01 Rational individuals may make different choi...
2) Positive economics tells us that: Certain inherently desirable products such as education and health
care should be produced so long as resources are available.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Medium
Learning Objective : 01-02 Define economics and the economic perspective.
pg. 1
, 2
TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL, STANLEY BRUE, SEAN FLYNN, TOM BARBIERO
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-02 Positive economics tells us that: Certain in...
3) Marginal analysis means that decision-makers compare the extra benefits with the extra costs of a
specific choice.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-03 Marginal analysis means that decision-makers...
4) Choices entail marginal costs because resources are scarce.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-02 Define economics and the economic perspective.
Topic : 01-02 The Economic Way of Thinking
Source : Chapter 01 Test Bank > TB 01-04 Choices entail marginal costs because resour...
5) If economic theories are solidly based on relevant facts, then there can be no question as to the
character of appropriate economic policy.
⊚ true
pg. 2
, TEST BANK FOR MICROECONOMICS, 17TH CANADIAN EDITION BY CAMPBELL MC
CONNELL,STANLEY BRUE,SEAN FLYNN,TOM BARBIERO
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-03 Describe the role of economic theory in economics.
Topic : 01-03 Theories, Principles, and Models
Source : Chapter 01 Test Bank > TB 01-05 If economic theories are solidly based on re...
6) The fact that economic generalizations are abstract renders them impractical and useless.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
Learning Objective : 01-03 Describe the role of economic theory in economics.
Topic : 01-03 Theories, Principles, and Models
Source : Chapter 01 Test Bank > TB 01-06 The fact that economic generalizations are a...
7) Macroeconomics explains the behaviour of individual households and business firms;
microeconomics is concerned with the behaviour of aggregates or the economy as a whole.
⊚ true
⊚ false
Question Details
Accessibility : Screen Reader/Keyboard/CC
Difficulty : Easy
pg. 3
