Test Bank for Principles of MACROeconomics 9th Edition Mankiw / All Chapters 1 - 23 / Full Complete

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Test Bank Principles of Macroeconomics, 8th Canadian EditionMankiw
n n n n n n n n




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1




1. WhichnwordncomesnfromnthenGreeknwordnforn“onenwhonmanagesnanhousehold”?
2. market b.nbank


c.ngovernment d.neconomy




ANSWER:nd


1. Fromnwhichnofnthenfollowingnisnthenwordn“economy”nderived?
2. onenwhonconsumesngoods b.nonenwhonmanagesnanhousehold


c.nonenwhonparticipatesninnanmarketnn d.nonenwhongovernsnancountry




ANSWER:nb


1. Whatndonhouseholdsnandneconomiesnhaveninncommon?
2. Theynbothnmustnallocatenscarcenresources.
3. Theynbothnfacendifficultiesnsavingnmoney.
4. Theynbothnmustnsellnthengoodsnandnservicesntheynproduce.
5. Theynbothnmustnhavenancentralndecisionnmaker.




ANSWER:na




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, 2.nscarcity b.npoverty
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c.nchange d.npower




ANSWER:na


1. Whatn isn NOTnincludedninnthen decisionsn thatn everyn societyn mustn make?
2. whatngoodsnwillnbenproduced b.nwhonwillnproducenthengoods


c.nwhatndeterminesnconsumernpreferencesnn d.nwhonwillnconsumenthengoods




ANSWER:nc


1. Whyndonbothnhouseholdsnandnsocietiesnfacenmanyndecisions?
2. Resourcesnarenscarce.
3. Populationsnmaynfluctuatenoverntime.
4. Wagesnfornhouseholdsnandnthereforensocietynfluctuatenwithnbusinessncycles.
5. People,nbynnature,ntendntondisagree.




ANSWER:na


1. Whennisnangoodnconsiderednscarceninnansociety?
2. whennmorenoutputnofnthengoodnisnpossible
3. whenneveryoneninnthatnsocietyncannotnhavenallntheynwantnofnthengood
4. whennthengovernmentnrestrictsnproductionnofnthengood
5. whennonlynthenrichestnpeopleninntheneconomyncannbuynallntheynwantnofnthengood




ANSWER:nb




1. Whenndoesnscarcitynexist?
2. whenntherenisnlessnthannanninfinitenamountnofnanresourcenorngood
3. whennsocietyncannmeetnthenwantsnofneverynindividual
4. whenntherenisnlessnofnangoodnornresourcenavailablenthannpeoplenwishntonhave
5. whennthengovernmentnfailsntonproducengoods




ANSWER:nc




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, 1.nHownarengoodsnandnservicesnallocatedninnanmarketneconomy?
2.nbyngovernmentndecisions
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3.nbyngivingneachnindividualnjustnenoughnfornandecentnstandardnofnliving
4. bynthenactionsnofnallnfirmsnandnconsumers
5. byninheritednrightsnandnproperties




ANSWER:nc


10. Approximatelynwhatnpercentagenofnthenworld’sneconomiesnexperiencenscarcity?na.n30nnn b.n45


nc.n60 d.n100




ANSWER:nd


11. Whatn isnann economyn experiencing n whenn an societyn cannotn producen allnthen goodsn andn servicesn peoplen wishnton have?


1.nscarcity b.neconomicngrowth


c.ncompetition d.nmarketnfailure




ANSWER:na


12.Fornsociety,nwhennisnangoodnNOTnscarce?


1. ifnatnleastnonenindividualninnsocietyncannobtainnallnhenornshenwantsnofnthengood
2. ifnfirmsnarenproducingnatnfullncapacity
3. ifnallnmembersnofnsocietyncannhavenallntheynwantnofnthengood
4. ifnthosenwhonhavenenoughnincomencannbuynallntheynwantnofnthengood




ANSWER:nc


13.Whichngoodnbestnmeetsnthendefinitionnofnscarcity?


1. air b.nwaterninnthenocean


c.nelectricityninnancitynnn d.nwoodninnanforest




ANSWER:nc




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