TEST BANK For Microeconomics, 9th edition
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by Jeffrey M. Perloff, Chapters 1 - 20
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,Table of contents
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1. Introduction
2. Supply and Demand
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3. Applying the Supply-and-Demand Model
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4. Consumer Choice l
5. Applying Consumer Theory
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6. Firms and Production
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7. Costs
8. Competitive Firms and Markets l l l
9. Applying the Competitive Model
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10. General Equilibrium and Economic Welfare l l l l
11. Monopoly
12. Pricing and Advertising l l
13. Oligopoly and Monopolistic Competition l l l
14. Game Theory l
15. Factor Markets l
16. Interest Rates, Investments, and Capital Markets
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17. Uncertainty
18. Externalities, Open-Access, and Public Goods l l l l
19. Asymmetric Information l
20. Contracts and Moral Hazards l l l
,Chapter 1 l Introduction
1.1 Microeconomics: The Allocation of Scarce Resources l l l l l
1) Microeconomics studies the allocation of l l l l
A) decision makers. l
B) scarce resources. l
C) models.
D) unlimited resources. l
ANSWER: B
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Section: The Allocation of Scarce Resources
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Question Status:
l l Old
AACSB: Analytic thinking l
2) Microeconomics is often called l l l
A) price theory.
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B) decision science. l
C) scarcity.
D) resource theory. l
ANSWER: A
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Section: The Allocation of Scarce Resources
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Question Status:
l l Old
AACSB: Analytic thinking l
3) Most microeconomic models assume that decision makers wish to
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A) make themselves as well off as possible.
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B) act selfishly.
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C) make others as well off as possible.
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D) None of the above.
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ANSWER: A
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Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking l
4) Society faces trade- ‑offs because of
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A) government regulations. l
B) profit motive.
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C) faceless bureaucrats. l
, D) scarcity.
l ANSWER: D
Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking
l
l l l l l
by Jeffrey M. Perloff, Chapters 1 - 20
l l l l l l l
,Table of contents
l l
1. Introduction
2. Supply and Demand
l l
3. Applying the Supply-and-Demand Model
l l l
4. Consumer Choice l
5. Applying Consumer Theory
l l
6. Firms and Production
l l
7. Costs
8. Competitive Firms and Markets l l l
9. Applying the Competitive Model
l l l
10. General Equilibrium and Economic Welfare l l l l
11. Monopoly
12. Pricing and Advertising l l
13. Oligopoly and Monopolistic Competition l l l
14. Game Theory l
15. Factor Markets l
16. Interest Rates, Investments, and Capital Markets
l l l l l
17. Uncertainty
18. Externalities, Open-Access, and Public Goods l l l l
19. Asymmetric Information l
20. Contracts and Moral Hazards l l l
,Chapter 1 l Introduction
1.1 Microeconomics: The Allocation of Scarce Resources l l l l l
1) Microeconomics studies the allocation of l l l l
A) decision makers. l
B) scarce resources. l
C) models.
D) unlimited resources. l
ANSWER: B
l
Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking l
2) Microeconomics is often called l l l
A) price theory.
l
B) decision science. l
C) scarcity.
D) resource theory. l
ANSWER: A
l
Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking l
3) Most microeconomic models assume that decision makers wish to
l l l l l l l l
A) make themselves as well off as possible.
l l l l l l
B) act selfishly.
l
C) make others as well off as possible.
l l l l l l
D) None of the above.
l l l
ANSWER: A
l
Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking l
4) Society faces trade- ‑offs because of
l l l l
A) government regulations. l
B) profit motive.
l
C) faceless bureaucrats. l
, D) scarcity.
l ANSWER: D
Section: The Allocation of Scarce Resources
l l l l
Question Status:
l l Old
AACSB: Analytic thinking
l
