TEST BANK FOR ECON MICRO 7th Edition by William A. McEachern, Veronika Dolar ISBN: 978-0357901960 COMPLETE GUIDE ALL CHAPTERS COVERED 100% VERIFIED A+ GRADE ASSURED!!!!!NEW LATEST UPDATE!!!!

Complete Test Bank- u u




ECON MICRO7th Edition
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by William A. McEachern & VeronikaD
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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


2

,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




3

, 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
4