TEST BANK FOR
MICROECONOMIC
S, 3RD EDITION,
AUSTAN
GOOLSBEE,
STEVEN LEVITT,
CHAD SYVERSON
Multiple Choice
1. Which of the following is considered a microeconomic topic?
a.
unemployment
b.
inflation
, Name Class Dat
: : e:
Chapter 01: Adventures in Microeconomics
c.
gross domestic product
d.
the telecommunications industry ANSWER: d
2. Which of the following is a microeconomic policy?
a.
fiscal policy
b.
monetary policy
c.
rent control
d.
tariffs imposed on all importing nations ANSWER: c
3. Which of the following is NOT a microeconomic topic?
a.
a tax on tobacco
b.
expansionary monetary policy
c.
a subsidy for solar power
d.
a quota on taxicabs ANSWER: b
4. To learn the intricacies of theories and models, economists use:
a.
graphs and mathematics.
b.
their best guess.
c.
Wikipedia.
d.
only the stock market. ANSWER: a
5. Examples of using theories and models include:
a.
understanding how members of OPEC choose how much oil to produce.
b.
explaining how the NBA sets salaries for rookies.
c.
A and B.
d.
none of the above.
ANSWER: c
6. The term ceteris paribus is an assumption that economists use implying:
a.
all else is equal.
b.
to the victor go the spoils.
c.
nothing can be said to be certain except death and taxes.
Copyright Macmillan Learning. Powered by Cognero. Page 1
MICROECONOMIC
S, 3RD EDITION,
AUSTAN
GOOLSBEE,
STEVEN LEVITT,
CHAD SYVERSON
Multiple Choice
1. Which of the following is considered a microeconomic topic?
a.
unemployment
b.
inflation
, Name Class Dat
: : e:
Chapter 01: Adventures in Microeconomics
c.
gross domestic product
d.
the telecommunications industry ANSWER: d
2. Which of the following is a microeconomic policy?
a.
fiscal policy
b.
monetary policy
c.
rent control
d.
tariffs imposed on all importing nations ANSWER: c
3. Which of the following is NOT a microeconomic topic?
a.
a tax on tobacco
b.
expansionary monetary policy
c.
a subsidy for solar power
d.
a quota on taxicabs ANSWER: b
4. To learn the intricacies of theories and models, economists use:
a.
graphs and mathematics.
b.
their best guess.
c.
Wikipedia.
d.
only the stock market. ANSWER: a
5. Examples of using theories and models include:
a.
understanding how members of OPEC choose how much oil to produce.
b.
explaining how the NBA sets salaries for rookies.
c.
A and B.
d.
none of the above.
ANSWER: c
6. The term ceteris paribus is an assumption that economists use implying:
a.
all else is equal.
b.
to the victor go the spoils.
c.
nothing can be said to be certain except death and taxes.
Copyright Macmillan Learning. Powered by Cognero. Page 1
