Test Bank Principles of Macroeconomics, 12th Edition Author:N. Gregory
Mankiw Ronald D All Chapters Covered 100% Complete A+ Study Guide
Latest Version
FULL TEST BANK!!!
1|Page
, 1 : Which of the following is not correct?
A : Economists use some familiar words in specialized ways.
B : Economics has its own language and its own way of thinking, but few other fields of study do.
C : Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are
part of the economists language.
D : The value of the economists language lies in its ability to provide you with a new and useful way of thinking
about the world in which you live.
Correct Answer : B
2 : Economists use some familiar terms in specialized ways
A : to make the subject sound more complex than it is.
B : because every respectable field of study has its own language.
C : to provide a new and useful way of thinking about the world.
D : because it was too difficult to come up with new terms. Correct Answer
:C
3 : The language of economics is
A : needlessly arcane.
B : valuable because it provides a new and useful way of learning about the world.
C : easy to learn within a day.
D : unnecessary to learn for a thorough understanding of economics. Correct Answer : B
4 : Studying which of the following is helpful in learning to think like an economist?
A : theory.
B : case studies.
C : examples of economics in the news.
D : all of the above.
Correct Answer : D
2|Page
,DOWNLOAD THE Tes t Bank for Brief Principles of Macroeconomics 12th
MU LT IP LE CHOICE Edition Mankiw
1 : Economists, like mathematicians, physicists, and biologists,
A : make use of the scientific method.
B : try to address their subject with a scientists objectivity.
C : devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories.
D : All of the above are correct. Correct
Answer : D
2 : The essence of science is
A : the laboratory experiment.
B : the scientific method.
C : the study of nature, but not the study of society.
D : All of the above are correct. Correct
Answer : B
3 : The scientific method is
A : the use of modern technology to understand the way the world works.
B : the use of controlled laboratory experiments to understand the way the world works.
C : the dispassionate development and testing of theories about how the world works.
D : the search for evidence to support preconceived theories about how the world works. Correct Answer : C
4 : The scientific method is applicable to studying
A : natural sciences, but not social sciences.
B : social sciences, but not natural sciences.
C : both natural sciences and social sciences.
D : None of the above is correct. Correct
Answer : C
5 : Who said, The whole of science is nothing more than the refinement of everyday thinking?
A : Isaac Newton
B : Albert Einstein
C : Adam Smith
D : Benjamin Franklin Correct
Answer : B
6 : Albert Einstein once made the following observation about science:
A : The whole of science is nothing more than the refinement of everyday thinking.
B : The whole of science is nothing more than an interesting intellectual exercise.
C : In order to understand science, one must rely solely on abstraction.
D : In order to understand science, one must transcend everyday thinking. Correct Answer
:A
7 : Sir Isaac Newtons development of the theory of gravity after observing an apple fall from a
mynursytest.store
, DOW
trN
eeLO n eTxaHm
isAaD EplTeeosf t Bank for Brief Principles of Macroeconomics 12th
A : a controlled experiment that leadEtodithteifoornmuM
laationnkiofwa scientific theory.
B : being in the right place at the right time.
C : an idea whose time had come.
D : the interplay between observation and theory in science. Correct
Answer : D
8 : Which of the following steps does an economist take when studying the economy?
A : devise theories
B : collect data
C : analyze data
D : All of the above are correct. Correct
Answer : D
9 : Which of the following is an example of using the scientific method with a natural experiment?
A : measuring how long it takes a marble to fall from a ten story building
B : comparing plant growth with and without a soil additive
C : tracking the price of oil when a war in the Middle East interrupts the flow of crude oil
D : observing the reaction when two chemicals are mixed together Correct Answer :
C
10 : The goal of an economist who formulates new theories is to
A : provide an interesting framework of analysis, whether or not the framework turns out to be of much use in
understanding how the world works.
B : provoke stimulating debate in scientific journals.
C : contribute to an understanding of how the world works.
D : demonstrate that economists, like other scientists, can formulate testable theories. Correct Answer : C
11 : Suppose an economist develops a theory that higher food prices arise from higher gas prices. According to
the scientific method, which of the following is the economists next step?
A : Collect and analyze data.
B : Go to a laboratory and generate data to test the theory.
C : Publish the theory without testing it.
D : Consult with other economists to see they agree with the theory. Correct Answer : A
12 : Which of the following statements applies to economics, as well as to other sciences such as physics?
A : Experiments are considered valid only when they are conducted in a laboratory.
B : Good theories do not need to be tested.
C : Real-world observations often lead to theories.
D : Economics, as well as other sciences, is concerned primarily with abstract concepts. Correct Answer : C
13 : With respect to how economists study the economy, which of the following statements is
mynursytest.store
Mankiw Ronald D All Chapters Covered 100% Complete A+ Study Guide
Latest Version
FULL TEST BANK!!!
1|Page
, 1 : Which of the following is not correct?
A : Economists use some familiar words in specialized ways.
B : Economics has its own language and its own way of thinking, but few other fields of study do.
C : Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are
part of the economists language.
D : The value of the economists language lies in its ability to provide you with a new and useful way of thinking
about the world in which you live.
Correct Answer : B
2 : Economists use some familiar terms in specialized ways
A : to make the subject sound more complex than it is.
B : because every respectable field of study has its own language.
C : to provide a new and useful way of thinking about the world.
D : because it was too difficult to come up with new terms. Correct Answer
:C
3 : The language of economics is
A : needlessly arcane.
B : valuable because it provides a new and useful way of learning about the world.
C : easy to learn within a day.
D : unnecessary to learn for a thorough understanding of economics. Correct Answer : B
4 : Studying which of the following is helpful in learning to think like an economist?
A : theory.
B : case studies.
C : examples of economics in the news.
D : all of the above.
Correct Answer : D
2|Page
,DOWNLOAD THE Tes t Bank for Brief Principles of Macroeconomics 12th
MU LT IP LE CHOICE Edition Mankiw
1 : Economists, like mathematicians, physicists, and biologists,
A : make use of the scientific method.
B : try to address their subject with a scientists objectivity.
C : devise theories, collect data, and then analyze these data in an attempt to verify or refute their theories.
D : All of the above are correct. Correct
Answer : D
2 : The essence of science is
A : the laboratory experiment.
B : the scientific method.
C : the study of nature, but not the study of society.
D : All of the above are correct. Correct
Answer : B
3 : The scientific method is
A : the use of modern technology to understand the way the world works.
B : the use of controlled laboratory experiments to understand the way the world works.
C : the dispassionate development and testing of theories about how the world works.
D : the search for evidence to support preconceived theories about how the world works. Correct Answer : C
4 : The scientific method is applicable to studying
A : natural sciences, but not social sciences.
B : social sciences, but not natural sciences.
C : both natural sciences and social sciences.
D : None of the above is correct. Correct
Answer : C
5 : Who said, The whole of science is nothing more than the refinement of everyday thinking?
A : Isaac Newton
B : Albert Einstein
C : Adam Smith
D : Benjamin Franklin Correct
Answer : B
6 : Albert Einstein once made the following observation about science:
A : The whole of science is nothing more than the refinement of everyday thinking.
B : The whole of science is nothing more than an interesting intellectual exercise.
C : In order to understand science, one must rely solely on abstraction.
D : In order to understand science, one must transcend everyday thinking. Correct Answer
:A
7 : Sir Isaac Newtons development of the theory of gravity after observing an apple fall from a
mynursytest.store
, DOW
trN
eeLO n eTxaHm
isAaD EplTeeosf t Bank for Brief Principles of Macroeconomics 12th
A : a controlled experiment that leadEtodithteifoornmuM
laationnkiofwa scientific theory.
B : being in the right place at the right time.
C : an idea whose time had come.
D : the interplay between observation and theory in science. Correct
Answer : D
8 : Which of the following steps does an economist take when studying the economy?
A : devise theories
B : collect data
C : analyze data
D : All of the above are correct. Correct
Answer : D
9 : Which of the following is an example of using the scientific method with a natural experiment?
A : measuring how long it takes a marble to fall from a ten story building
B : comparing plant growth with and without a soil additive
C : tracking the price of oil when a war in the Middle East interrupts the flow of crude oil
D : observing the reaction when two chemicals are mixed together Correct Answer :
C
10 : The goal of an economist who formulates new theories is to
A : provide an interesting framework of analysis, whether or not the framework turns out to be of much use in
understanding how the world works.
B : provoke stimulating debate in scientific journals.
C : contribute to an understanding of how the world works.
D : demonstrate that economists, like other scientists, can formulate testable theories. Correct Answer : C
11 : Suppose an economist develops a theory that higher food prices arise from higher gas prices. According to
the scientific method, which of the following is the economists next step?
A : Collect and analyze data.
B : Go to a laboratory and generate data to test the theory.
C : Publish the theory without testing it.
D : Consult with other economists to see they agree with the theory. Correct Answer : A
12 : Which of the following statements applies to economics, as well as to other sciences such as physics?
A : Experiments are considered valid only when they are conducted in a laboratory.
B : Good theories do not need to be tested.
C : Real-world observations often lead to theories.
D : Economics, as well as other sciences, is concerned primarily with abstract concepts. Correct Answer : C
13 : With respect to how economists study the economy, which of the following statements is
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