DOWNLOAD THE Test Bank for Microeconomics in Modules 4th Edition Krugman
m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
1. Whichmtopicmismstudied minmmacroeconomics?
a. themchangeminmautomobilemsalesmduemtomamchangeminmthempricemof mautomobiles
b. themeffect mof mamtaxmreductionmonmthemprofitsmof manmindividualmbusiness
c. recessions
d. themunemployment mof mworkersmdisplaced mbymtechnologicalmchangeminmthemtypesettingmindustry
ANSWER:m c
2. Thembasicmconcernmof mmicroeconomicsm ismt
o:
a. keepmbusinessmfirmsmfrommlosingmmoney.
b. provemthat mcapitalismmismbettermthanmsocialism.
c. studymthemchoicesmpeoplemmake.
d. usemunlimited mresourcesmtomproducemgoodsmand mservicesmtomsatisfymlimited mwants.
ANSWER:m c
3. How mpeoplemchoosemamongmthemalternativesmavailablemtomthemmis:
a. not mpart mof mthemstudymof meconomics.
b. impossiblemtomdescribe.
c. themstudymof mmicroeconomics.
d. not mimportant minmthemstudymof mmicroeconomics.
ANSWER:m c
4. Scarcityminmeconomicsmmeansmthat:
a. wemoftenmdomnot mhavemsufficient mresourcesmtomachievemourmobjectives.
b. themwantsmof mpeoplemaremlimited.
c. theremmust mbempoormpeopleminmrichmcountries.
d. shortagesmexist minmnearlymallmmarkets.
ANSWER:m a
5. If mresourcesmaremscarce,mit mmeansmthat mthey:
a. areminsufficient mtomprovidemenoughmgoodsmand mservicesmtomsatisfymallmhumanmmaterialmwantsmand mneeds.
b. havemnomopportunitymcost.
c. aremprobablymnot mvalued mbymconsumers.
d. havemanmunlimited msupply.
ANSWER:m a
6. A mcentralmand mfundamentalmthememinmeconomicsmismthat:
a. wantsmaremlimited.
b. themUnited mStatesmismamrichmcountry,mbut mwemaremsimplymnot mawaremof mit.
c. peoplemhavemunlimited mwantsmbut mlimited mmeansmtomsatisfymthem.
d. resourcesmaremunlimited.
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,DOWNLOAD THE Test Bank for Microeconomics in Modules 4th Edition Krugman
m m m m m m m m m m
Name: Class: Date:
Modulem1m-
ANSWER:
m FirstmPrinciples
m c
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,DOWNLOAD THE Test Bank for Microeconomics in Modules 4th Edition Krugman
m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
7. Themproblemmof mscarcitymismconfronted mby:
a. industrialized msocietiesmonly.
b. preindustrialmsocietiesmonly.
c. societiesmgoverned mbymcommunist mphilosophiesmonly.
d. allmsocieties.
ANSWER:m d
8. Whenmwemaremforced mtommakemchoices,mwemaremfacingmthemconcept mof:
a. humanmcapital.
b. inflation.
c. scarcity.
d. market mfailure.
ANSWER:m c
9. Wemaremforced mtommakemchoicesmbecausemof:
a. exploitation.
b. efficiency.
c. scarcity.
d. themmargin.
ANSWER:m c
10. Scarcitymexistsmwhen:
a. makingmchoicesmamongmtwomormmoremalternativesmismnot mnecessary.
b. individualsmcanmhavemmoremof manymgood mwithout mgivingmupmanything.
c. individualsmcanmhavemmoremof monemgood mbut monlymbymgivingmupmsomethingmelse.
d. resourcesmaremunlimited.
ANSWER:m c
11. Althoughmfreshwatermismverymabundant minmmost mplaces,mit mismscarcembecause:
a. it mhasmnomalternativemuses.
b. theremismnot menoughmof mit mtommeet mallmneeds.
c. it mismamfreemgood.
d. scarcemgoodsminmgeneralmaremnot mallmthat mcostly.
ANSWER:m b
12. Freshwatermismconsidered mamscarcemgood mbecause:
a. not menoughmof mit mismavailablemformallmneeds.
b. it mdoesmnot mhavemanymuses.
c. scarcemgoodsmaremnot mexpensive.
d. not menoughmof mit mismavailablemformallmneedsmand mbecausemit mismnot mexpensive.
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m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
ANSWER:m a
13. Themproblemmof mdeterminingmwhat mgoodsmand mservicesmsocietymshould mproduce:
a. existsmbecausemwemcanmproducemmoremthanmwemneed mormwant.
b. existsmbecausemtheremaremnot menoughmresourcesmtomprovidemallmof mthemgoodsmand mservicesmthat mpeo
plemwant.
c. would mnot mexist mif mallmgoodsmand mservicesmweremscarce.
d. would mnot mexist mif mgovernment mowned mallmof mthemresources.
ANSWER:m b
14. Whichmresourcemismnot monemthat mpertainsmtomthemproductionmof mrice?
a. fertilemland
b. labor
c. capitalmequipment
d. money
ANSWER:m d
15. Amresourcemismanythingmthat:
a. canmbemused minmproduction.
b. youmpaymfor.
c. isminmscarcemsupply.
d. canmbemconsumed.
ANSWER:m a
16. Wemhavemtommakemchoicesmbecause:
a. wemhavemunlimited mincome.
b. resourcesmaremscarce.
c. resourcesmareminfinite.
d. withmgood mplanning,mtrade-offsmcanmbemavoided.
ANSWER:m b
17. Whenmamchef mpreparesmamdinnermformamcustomer,mwhichmfactormismphysicalmcapital?
a. themchef
b. themoven
c. themfood mingredients
d. themchef'smtrainingmand mexperience
ANSWER:m b
18. Mannymismattendingmcollegemand mmajoringminmeconomics.mBymdoingmso,mMannymismimprovingmhis:
a. land.
b. labor.
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m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
1. Whichmtopicmismstudied minmmacroeconomics?
a. themchangeminmautomobilemsalesmduemtomamchangeminmthempricemof mautomobiles
b. themeffect mof mamtaxmreductionmonmthemprofitsmof manmindividualmbusiness
c. recessions
d. themunemployment mof mworkersmdisplaced mbymtechnologicalmchangeminmthemtypesettingmindustry
ANSWER:m c
2. Thembasicmconcernmof mmicroeconomicsm ismt
o:
a. keepmbusinessmfirmsmfrommlosingmmoney.
b. provemthat mcapitalismmismbettermthanmsocialism.
c. studymthemchoicesmpeoplemmake.
d. usemunlimited mresourcesmtomproducemgoodsmand mservicesmtomsatisfymlimited mwants.
ANSWER:m c
3. How mpeoplemchoosemamongmthemalternativesmavailablemtomthemmis:
a. not mpart mof mthemstudymof meconomics.
b. impossiblemtomdescribe.
c. themstudymof mmicroeconomics.
d. not mimportant minmthemstudymof mmicroeconomics.
ANSWER:m c
4. Scarcityminmeconomicsmmeansmthat:
a. wemoftenmdomnot mhavemsufficient mresourcesmtomachievemourmobjectives.
b. themwantsmof mpeoplemaremlimited.
c. theremmust mbempoormpeopleminmrichmcountries.
d. shortagesmexist minmnearlymallmmarkets.
ANSWER:m a
5. If mresourcesmaremscarce,mit mmeansmthat mthey:
a. areminsufficient mtomprovidemenoughmgoodsmand mservicesmtomsatisfymallmhumanmmaterialmwantsmand mneeds.
b. havemnomopportunitymcost.
c. aremprobablymnot mvalued mbymconsumers.
d. havemanmunlimited msupply.
ANSWER:m a
6. A mcentralmand mfundamentalmthememinmeconomicsmismthat:
a. wantsmaremlimited.
b. themUnited mStatesmismamrichmcountry,mbut mwemaremsimplymnot mawaremof mit.
c. peoplemhavemunlimited mwantsmbut mlimited mmeansmtomsatisfymthem.
d. resourcesmaremunlimited.
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,DOWNLOAD THE Test Bank for Microeconomics in Modules 4th Edition Krugman
m m m m m m m m m m
Name: Class: Date:
Modulem1m-
ANSWER:
m FirstmPrinciples
m c
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,DOWNLOAD THE Test Bank for Microeconomics in Modules 4th Edition Krugman
m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
7. Themproblemmof mscarcitymismconfronted mby:
a. industrialized msocietiesmonly.
b. preindustrialmsocietiesmonly.
c. societiesmgoverned mbymcommunist mphilosophiesmonly.
d. allmsocieties.
ANSWER:m d
8. Whenmwemaremforced mtommakemchoices,mwemaremfacingmthemconcept mof:
a. humanmcapital.
b. inflation.
c. scarcity.
d. market mfailure.
ANSWER:m c
9. Wemaremforced mtommakemchoicesmbecausemof:
a. exploitation.
b. efficiency.
c. scarcity.
d. themmargin.
ANSWER:m c
10. Scarcitymexistsmwhen:
a. makingmchoicesmamongmtwomormmoremalternativesmismnot mnecessary.
b. individualsmcanmhavemmoremof manymgood mwithout mgivingmupmanything.
c. individualsmcanmhavemmoremof monemgood mbut monlymbymgivingmupmsomethingmelse.
d. resourcesmaremunlimited.
ANSWER:m c
11. Althoughmfreshwatermismverymabundant minmmost mplaces,mit mismscarcembecause:
a. it mhasmnomalternativemuses.
b. theremismnot menoughmof mit mtommeet mallmneeds.
c. it mismamfreemgood.
d. scarcemgoodsminmgeneralmaremnot mallmthat mcostly.
ANSWER:m b
12. Freshwatermismconsidered mamscarcemgood mbecause:
a. not menoughmof mit mismavailablemformallmneeds.
b. it mdoesmnot mhavemanymuses.
c. scarcemgoodsmaremnot mexpensive.
d. not menoughmof mit mismavailablemformallmneedsmand mbecausemit mismnot mexpensive.
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m m m m m m m m m m
Name: Class: Date:
Modulem1m-
mFirstmPrinciples
ANSWER:m a
13. Themproblemmof mdeterminingmwhat mgoodsmand mservicesmsocietymshould mproduce:
a. existsmbecausemwemcanmproducemmoremthanmwemneed mormwant.
b. existsmbecausemtheremaremnot menoughmresourcesmtomprovidemallmof mthemgoodsmand mservicesmthat mpeo
plemwant.
c. would mnot mexist mif mallmgoodsmand mservicesmweremscarce.
d. would mnot mexist mif mgovernment mowned mallmof mthemresources.
ANSWER:m b
14. Whichmresourcemismnot monemthat mpertainsmtomthemproductionmof mrice?
a. fertilemland
b. labor
c. capitalmequipment
d. money
ANSWER:m d
15. Amresourcemismanythingmthat:
a. canmbemused minmproduction.
b. youmpaymfor.
c. isminmscarcemsupply.
d. canmbemconsumed.
ANSWER:m a
16. Wemhavemtommakemchoicesmbecause:
a. wemhavemunlimited mincome.
b. resourcesmaremscarce.
c. resourcesmareminfinite.
d. withmgood mplanning,mtrade-offsmcanmbemavoided.
ANSWER:m b
17. Whenmamchef mpreparesmamdinnermformamcustomer,mwhichmfactormismphysicalmcapital?
a. themchef
b. themoven
c. themfood mingredients
d. themchef'smtrainingmand mexperience
ANSWER:m b
18. Mannymismattendingmcollegemand mmajoringminmeconomics.mBymdoingmso,mMannymismimprovingmhis:
a. land.
b. labor.
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