TEST BANK For Microeconomics, 9th edition by Jeffrey M. Perloff, Chapters 1 - 20

TEST BANK For Microeconomics, 9th edition
by Jeffrey M. Perloff, Chapters 1 - 20

,Table of contents
X X




1. Introduction
2. SupplyXandXDemand
3. ApplyingXtheXSupply-and-DemandXModel
4. ConsumerXChoice
5. ApplyingXConsumerXTheory
6. FirmsXandXProduction
7. Costs
8. CompetitiveXFirmsXandXMarkets
9. ApplyingXtheXCompetitiveXModel
10. GeneralXEquilibriumXandXEconomicXWelfare
11. Monopoly
12. PricingXandXAdvertising
13. OligopolyXandXMonopolisticXCompetition
14. GameXTheory
15. FactorXMarkets
16. InterestXRates,XInvestments,XandXCapitalXMarkets
17. Uncertainty
18. Externalities,XOpen-Access,XandXPublicXGoods
19. AsymmetricXInformation
20. ContractsXandXMoralXHazards

,ChapterX1 Introduction
1.1 Microeconomics:XTheXAllocationXofXScarceXResources
1) MicroeconomicsXstudiesXtheXallocationXof

A) decisionXmakers.

B) scarceXresources.

C) models.

D) unlimitedXresources.X
ANSWER: B
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking


2) MicroeconomicsXisXoftenXcalled

A) priceXtheory.

B) decisionXscience.

C) scarcity.

D) resourceXtheory.
XANSWER: A
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking


3) MostXmicroeconomicXmodelsXassumeXthatXdecisionXmakersXwishXto

A) makeXthemselvesXasXwellXoffXasXpossible.

B) actXselfishly.

C) makeXothersXasXwellXoffXasXpossible.

D) NoneXofXtheXabove
.XANSWER: A
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking
4) SocietyXfacesXtrade-­ ‑offsXbecauseXof

A) governmentXregulations.

B) profitXmotive.

C) facelessXbureaucrats.

, D) scarcity.X
ANSWER: D
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking

5) AXmarket

A) alwaysXinvolvesXtheXpersonalXexchangeXofXgoodsXforXmoney.

B) allowsXinteractionsXbetweenXconsumersXandXfirms.

C) alwaysXtakesXplaceXatXaXphysicalXlocation.

D) hasXnoXinfluenceXonXprices
.XANSWER: B
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking



6) WhatXlinksXtheXdecisionsXofXconsumersXandXfirmsXinXaXmarket?

A) theXgovernment

B) prices

C) coordinationXofficials

D) microeconomicsX
ANSWER: B
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking



7) TheXpriceXofXaXgoodXis

A) alwaysXequalXtoXtheXcostXofXproducingXtheXgood.

B) neverXaffectedXbyXtheXnumberXofXbuyersXandXsellers.

C) usuallyXdeterminedXinXaXmarket.

D) NoneXofXtheXabove
.XANSWER: C
Section:
TheXAllocationXofXScarceXResourcesX
QuestionXStatus: Old
AACSB: AnalyticXthinking