Test bank for essentials of economics 8th edition by mankiw.pdf

TEST BANK gl




Essentials of Econ by N. Gregory Mankiw All Chapt
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ers 1 - 24omics 9th edition
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Pagegl1

,Table of Contents. gl gl




Part I: INTRODUCTION.
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1. Ten Principles of Economics.
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2. Thinking Like an Economist.
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3. Interdependence and the Gains from Trade.
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Part II: HOW MARKETS WORK.
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4. The Market Forces of Supply and Demand.
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5. Elasticity and Its Application.
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6. Supply, Demand, and Government Policies.
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Part III: MARKETS AND WELFARE.
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7. Consumers, Producers, and the Efficiency of Markets.
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8. Application: The Costs of Taxation.
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9. Application: International Trade.
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Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
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10. Externalities.
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11. Public Goods and Common Resources.
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Part V: Firm Behavior and the Organization of Industry.
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,12. The Costs of Production.
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13. Firms in Competitive Markets.
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14. Monopoly.
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Part VI: THE DATA OF MACROECONOMICS.
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15. Measuring a Nation’s Income.
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16. Measuring the Cost of Living.
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Part VII: THE REAL ECONOMY IN THE LONG RUN.
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17. Production and Growth.
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18. Saving, Investment, and the Financial System.
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19. The Basic Tools of Finance.
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20. Unemployment and Its Natural Rate.
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Part VIII: MONEY AND PRICES IN THE LONG RUN.
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21. The Monetary System.
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22. Money Growth and Inflation.
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Part IX: SHORT-RUN ECONOMIC FLUCTUATIONS.
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23. Aggregate Demand and Aggregate Supply.
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24. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
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, 1. Ten Principles of Economics.
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1. TheglEnglishglwordglthatglcomesglfromgltheglGreekglwordglforgl"oneglwhoglmanagesglaglhousehold"glis
a. market.
b. consumer.
c. producer.
d. economy.
ANSWER: d
DIFFICULTY: Easy
LEARNINGglOBJECTIVES:g l ECON.MANK.012gl-
glApplyglbasic,gleconomicglprinciplesglofglindividualgldecisiong l makingglthatgldet

ermineglhowglangleconomyglgenerallyglworks.
TOPICS: Economicglthinking
KEYWORDS: BLOOM'S:glKnowledge
CUSTOMglID: 001.01.0gl-glMCgl-glMANK08


2. Theglwordgl“economy”glcomesglfromgltheglGreekglwordgloikonomos,glwhichglmeans
a. “environment.”
b. “production.”
c. “oneglwhoglmanagesglaglhousehold.”
d. “oneglwhoglmakesgldecisions.”
ANSWER: c
DIFFICULTY: Easy
LEARNINGglOBJECTIVES:g l ECON.MANK.012gl-
glApplyglbasic,gleconomicglprinciplesglofglindividualgldecisiong l makingglthatgldet

ermineglhowglangleconomyglgenerallyglworks.
TOPICS: Economicglthinking
KEYWORDS: BLOOM'S:glKnowledge
CUSTOMglID: 002.01.0gl-glMCgl-glMANK08
3. Resourcesglare
a. scarceglforglhouseholdsglbutglplentifulglforgleconomies.
b. plentifulglforglhouseholdsglbutglscarceglforgleconomies.
c. scarceglforglhouseholdsglandglscarceglforgleconomies.
d. plentifulglforglhouseholdsglandglplentifulglforgleconomies.
ANSWER: c
DIFFICULTY: Easy
LEARNINGglOBJECTIVES:g l ECON.MANK.012gl-
glApplyglbasic,gleconomicglprinciplesglofglindividualgldecisiong l makingglthatgldet

ermineglhowglangleconomyglgenerallyglworks.
TOPICS:
Pagegl4