ECON MICRO7th Edition
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by William A. McEachern & VeronikaD
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olar
Latest| All Chapters| A+ Answers
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1
, Trueu/uFalse
1. Economicsuisubestudefineduasutheustudyuofuhowuindividualsudecideutouuseulimiteduresourcesuinuanuattemptut
ousatisfyuunlimiteduwants.
a. True
b. False
ANSWER: True
2. Economicsustudiesuhowudecisionumakersuuseuscarceuresourcesutousatisfyuunlimiteduwants.
a. True
b. False
ANSWER: True
3. Inueconomics,umoneyuisuanuexampleuofucapital.
a. True
b. False
ANSWER: False
4. Profituisutheupaymentureceivedubyuresourceuownersuforutheuuseuofutheirucapital.
a. True
b. False
ANSWER: False
5. Rentuisutheupaymentureceivedubyuresourceuownersuforutheuuseuofutheirunaturaluresources.
a. True
b. False
ANSWER: True
6. Anueconomistuwoulduclassifyu100usharesuofutheuAppleuComputersustockuasucapital.
a. True
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,b. False
ANSWER: False
7. Profituisutheupaymentumadeuforulanduresources.
a. True
b. False
ANSWER: False
8. Resourcesuareuuseduonlyuinutheuproductionuofugoods,unotuservices.
a. True
b. False
ANSWER: False
9. Consideringubothuproductumarketsuanduresourceumarkets,umostueconomicudecisionumakersuparticipateuinut
heueconomyuasubothubuyersuandusellers.
a. True
b. False
ANSWER: True
10. Laboruanducapitaluareuexchangeduinutheuresourceumarket.
a. True
b. False
ANSWER: True
11. Aurationaluindividualugivesumoreutoucharityuwhenusuchucontributionsureceiveufavorableutaxutreatment.
a. True
b. False
ANSWER: True
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, 12. Aurationaluindividualuwouldumakeucharitableucontributionsuonlyuifusuchucontributionsureceiveufavorableut
axutreatment.
a. True
b. False
ANSWER: False
13. Theuassumptionuofurationaluself-
interestudoesunoturuleuoututheupossibilityuofuconcernuforuotheruindividuals.
a. True
b. False
ANSWER: True
14. Ituisualwaysurationalutouacquireumoreuinformationubeforeumakinguaudecision.
a. True
b. False
ANSWER: False
15. Rationaluself-interestuisuequivalentutoupureuselfishness.
a. True
b. False
ANSWER: False
16. Sarauisuconsideringutheupurchaseuofuaunewucar.uRationaluself-
interestudemandsuthatusheudouanuexhaustiveuresearchustudyutouacquireueveryubituofuinformationupossibleuabout
uherupotentialuoptions.
a. True
b. False
ANSWER: False
17. Aumarginaluadjustmentuonlyurefersutouauminoruchange.
a. True
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