Test Bank for Study Guide for Principles of Macroeconomics, Sixth Canadian
@it @it @it @it @it @it @it @it @it @it
Edition
@it
by N. Gregory Mankiw
@it @it @it
●●●INSTANT @ i t DOWNLOAD
●●●COMPLETE @ i t CHAPTERS
●●●COMPLETE @ i t ANSWERS
,Chapter 1—Ten Principles of Economics
MULTIPLE CHOICE
1. Which word comes from the Greek word for “one who manages a household”?
a. market
b. consumer
c. producer
d. economy
ANS: D PTS: 1 DIF: Easy REF: p. 3-4
BLM: Remember NOT: Macro TB_1-1
2. From which Greek word(s) is the word economy derived?
a. environment
b. one who manages a household
c. one who participates in a market
d. conservation
ANS: B PTS: 1 DIF: Easy REF: p. 3-4
BLM: Remember NOT: Macro TB_1-2
3. What do households and economies have in common?
a. They both must allocate scarce resources.
b. They both face many decisions.
c. They both must allocate the goods and services they produce.
d. They both must have a central decision maker.
ANS: D PTS: 1 DIF: Average REF: p. 3-4
BLM: Remember NOT: Macro TB_1-3
4. What concept does economics primarily deal with?
a. scarcity
b. poverty
c. change
d. power
ANS: A PTS: 1 DIF: Easy REF: p. 4
BLM: Remember NOT: Macro TB_1-4
5. Which of the following is NOT included in the decisions that every society must make?
a. what goods will be produced
b. who will produce the goods
c. what determines consumer preferences
d. who will consume the goods
ANS: C PTS: 1 DIF: Average REF: p. 4
BLM: Remember NOT: Macro TB_1-5
All Chapters Included ⬛⬛⬛
All Answers Included ⬛⬛⬛
,6. Why @itdo @itboth @ithouseholds @itand @itsocieties @itface @itmany @itdecisions?
a. because @itresources @itare @itscarce
b. because @itpopulations @itmay @itincrease @itor @itdecrease @itover @ittime
c. because @itwages @itfor @ithouseholds @itand @ittherefore @itsociety @itfluctuate @itwith
@itbusiness @itcycles
d. because @itpeople, @itby @itnature, @ittend @itto @itdisagree
ANS: @ i t A PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-6
7. When @itis @ita @itgood @itconsidered @itscarce @itin @ita @itsociety?
a. when @itmore @itoutput @itof @itthe @itgood @itis @itpossible
b. when @iteveryone @itin @itthat @itsociety @itcannot @ithave @itall @itthey @itwant @itof @itthe
@itgood
c. when @itthe @itgovernment @itrestricts @itproduction @itof @itthe @itgood
d. when @itonly @itthe @itrichest @itpeople @itin @itthe @iteconomy @itcan @itbuy @itall @itthey
@itwant @itof @itthe @itgood
ANS: @ i t B PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-7
8. When @itdoes @itscarcity @itexist?
a. when @itthere @itis @itless @itthan @itan @itinfinite @itamount @itof @ita @itresource @itor
@itgood
b. when @itsociety @itcan @itmeet @itthe @itwants @itof @itevery @itindividual
c. when @itthere @itis @itless @itof @ita @itgood @itor @itresource @itavailable @itthan @itpeople
@itwish @itto @ithave
d. when @itthe @itgovernment @itfails @itto @itproduce @itgoods
ANS: @ i t C PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-8
9. How @itare @itgoods @itand @itservices @itallocated @itin @ita @itmarket @iteconomy?
a. by @itgovernment @itdecisions
b. by @itgiving @iteach @itindividual @itjust @itenough @itfor @ita @itdecent
@itstandard @itof @itliving
c. by @itthe @itactions @itof @itall @itfirms @itand @itconsumers
d. by @itinherited @itrights @itand @itproperties
ANS: @ i t C PTS: @ i t @it 1 DIF: Average REF: @ i t @it p. @it4
BLM: @ i t Higher @itOrder NOT: @ i t Macro @itTB_1-9
10. Approximately @itwhat @itpercentage @itof @itthe @itworld’s @iteconomies @itexperience @itscarcity?
a. 25%
b. 50%
c. 75%
d. 100%
ANS: @ i t D PTS: @ i t @ i t 1 DIF: Easy REF: @ i t @it p. @it4
BLM: @ i t Remember NOT: @ i t Macro @itTB_1-10
11. What @itis @itthe @iteconomy @itexperiencing @itwhen @ita @itsociety @itcannot @itproduce @itall @itthe @itgoods @itand
@itservices @itpeople @itwish @itto @ithave?
a. scarcity
, b. communism
c. externalities
d. market
@itfailure
ANS: @ i t A PTS: @ i t @it 1 DIF: Easy REF: @ i t @it p. @it4
BLM: @ i t Higher @itOrder NOT: @ i t Macro @itTB_1-11
@it @it @it @it @it @it @it @it @it @it
Edition
@it
by N. Gregory Mankiw
@it @it @it
●●●INSTANT @ i t DOWNLOAD
●●●COMPLETE @ i t CHAPTERS
●●●COMPLETE @ i t ANSWERS
,Chapter 1—Ten Principles of Economics
MULTIPLE CHOICE
1. Which word comes from the Greek word for “one who manages a household”?
a. market
b. consumer
c. producer
d. economy
ANS: D PTS: 1 DIF: Easy REF: p. 3-4
BLM: Remember NOT: Macro TB_1-1
2. From which Greek word(s) is the word economy derived?
a. environment
b. one who manages a household
c. one who participates in a market
d. conservation
ANS: B PTS: 1 DIF: Easy REF: p. 3-4
BLM: Remember NOT: Macro TB_1-2
3. What do households and economies have in common?
a. They both must allocate scarce resources.
b. They both face many decisions.
c. They both must allocate the goods and services they produce.
d. They both must have a central decision maker.
ANS: D PTS: 1 DIF: Average REF: p. 3-4
BLM: Remember NOT: Macro TB_1-3
4. What concept does economics primarily deal with?
a. scarcity
b. poverty
c. change
d. power
ANS: A PTS: 1 DIF: Easy REF: p. 4
BLM: Remember NOT: Macro TB_1-4
5. Which of the following is NOT included in the decisions that every society must make?
a. what goods will be produced
b. who will produce the goods
c. what determines consumer preferences
d. who will consume the goods
ANS: C PTS: 1 DIF: Average REF: p. 4
BLM: Remember NOT: Macro TB_1-5
All Chapters Included ⬛⬛⬛
All Answers Included ⬛⬛⬛
,6. Why @itdo @itboth @ithouseholds @itand @itsocieties @itface @itmany @itdecisions?
a. because @itresources @itare @itscarce
b. because @itpopulations @itmay @itincrease @itor @itdecrease @itover @ittime
c. because @itwages @itfor @ithouseholds @itand @ittherefore @itsociety @itfluctuate @itwith
@itbusiness @itcycles
d. because @itpeople, @itby @itnature, @ittend @itto @itdisagree
ANS: @ i t A PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-6
7. When @itis @ita @itgood @itconsidered @itscarce @itin @ita @itsociety?
a. when @itmore @itoutput @itof @itthe @itgood @itis @itpossible
b. when @iteveryone @itin @itthat @itsociety @itcannot @ithave @itall @itthey @itwant @itof @itthe
@itgood
c. when @itthe @itgovernment @itrestricts @itproduction @itof @itthe @itgood
d. when @itonly @itthe @itrichest @itpeople @itin @itthe @iteconomy @itcan @itbuy @itall @itthey
@itwant @itof @itthe @itgood
ANS: @ i t B PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-7
8. When @itdoes @itscarcity @itexist?
a. when @itthere @itis @itless @itthan @itan @itinfinite @itamount @itof @ita @itresource @itor
@itgood
b. when @itsociety @itcan @itmeet @itthe @itwants @itof @itevery @itindividual
c. when @itthere @itis @itless @itof @ita @itgood @itor @itresource @itavailable @itthan @itpeople
@itwish @itto @ithave
d. when @itthe @itgovernment @itfails @itto @itproduce @itgoods
ANS: @ i t C PTS: @ i t @it 1 DIF: Average REF: p.
@it4
BLM: NOT: @ i t Macro
@ i t Remember @itTB_1-8
9. How @itare @itgoods @itand @itservices @itallocated @itin @ita @itmarket @iteconomy?
a. by @itgovernment @itdecisions
b. by @itgiving @iteach @itindividual @itjust @itenough @itfor @ita @itdecent
@itstandard @itof @itliving
c. by @itthe @itactions @itof @itall @itfirms @itand @itconsumers
d. by @itinherited @itrights @itand @itproperties
ANS: @ i t C PTS: @ i t @it 1 DIF: Average REF: @ i t @it p. @it4
BLM: @ i t Higher @itOrder NOT: @ i t Macro @itTB_1-9
10. Approximately @itwhat @itpercentage @itof @itthe @itworld’s @iteconomies @itexperience @itscarcity?
a. 25%
b. 50%
c. 75%
d. 100%
ANS: @ i t D PTS: @ i t @ i t 1 DIF: Easy REF: @ i t @it p. @it4
BLM: @ i t Remember NOT: @ i t Macro @itTB_1-10
11. What @itis @itthe @iteconomy @itexperiencing @itwhen @ita @itsociety @itcannot @itproduce @itall @itthe @itgoods @itand
@itservices @itpeople @itwish @itto @ithave?
a. scarcity
, b. communism
c. externalities
d. market
@itfailure
ANS: @ i t A PTS: @ i t @it 1 DIF: Easy REF: @ i t @it p. @it4
BLM: @ i t Higher @itOrder NOT: @ i t Macro @itTB_1-11
