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Full Download PDF of Test Bank For Microeconomics The Pearson Series in Economics 5th Edition R Glenn Hubbard All Chapter
Full Download PDF of Test Bank For Microeconomics The Pearson Series in Economics 5th Edition R Glenn Hubbard All Chapter
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A) Scarcityȱrefersȱtoȱtheȱsituationȱinȱwhichȱunlimitedȱwantsȱexceedȱlimitedȱresources. B)
Scarcityȱisȱnotȱaȱproblemȱforȱtheȱwealthy.
C) Scarcityȱisȱonlyȱaȱproblemȱwhenȱaȱcountryȱhasȱtooȱlargeȱaȱpopulation.
D) Scarcityȱarisesȱwhenȱthereȱisȱaȱwideȱdisparityȱinȱincomeȱdistribution.
Answer: A
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: Scarcity
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
4) Theȱbasicȱeconomicȱproblemȱofȱ ȱhasȱalwaysȱexistedȱandȱwillȱcontinueȱtoȱexist.
A) scarcity B) efficiency C) inflation D) recession
Answer: A
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: Scarcity
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
2ȱȱȱHubbard/OȇBrienȱNȱEconomics,ȱFifthȱEdition
5) Byȱdefinition,ȱeconomicsȱisȱtheȱstudyȱof
A) howȱtoȱmakeȱmoneyȱinȱtheȱstockȱmarket.
B) howȱtoȱmakeȱmoneyȱinȱaȱmarketȱeconomy.
C) theȱchoicesȱpeopleȱmakeȱtoȱattainȱtheirȱgoals,ȱgivenȱtheirȱscarceȱresources. D)
supplyȱandȱdemand.
Answer: C
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: Scarcity
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
6) Anȱeconomicȱ ȱisȱaȱsimplifiedȱversionȱofȱsomeȱaspectȱofȱeconomicȱlifeȱusedȱtoȱanalyzeȱan
economicȱissue.
A) market B) trade-off C) variable D) model
Answer: D
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: EconomicȱModels
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
7) Whereȱdoȱeconomicȱagentsȱsuchȱasȱindividuals,ȱfirmsȱandȱnations,ȱinteractȱwithȱeachȱother?
A) inȱpublicȱlocationsȱmonitoredȱbyȱtheȱgovernment
B) inȱanyȱarenaȱthatȱbringsȱtogetherȱbuyersȱandȱsellers
C) inȱanyȱphysicalȱlocationȱpeopleȱwhereȱpeopleȱcanȱphysicallyȱgetȱtogetherȱforȱsellingȱgoods,
suchȱasȱshoppingȱmalls
D) inȱanyȱlocationȱwhereȱtransactionsȱcanȱbeȱmonitoredȱbyȱconsumerȱgroupsȱandȱtaxedȱbyȱthe
government
Answer: B
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: Markets
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
8) Theȱtermȱ ȱinȱeconomicsȱrefersȱtoȱaȱgroupȱofȱbuyersȱandȱsellersȱofȱaȱproductȱandȱthe
arrangementȱbyȱwhichȱtheyȱcomeȱtogetherȱtoȱtrade.
A) collective B) cooperative C) market D) trade-off
Answer: C
Diff:ȱ1 PageȱRef:ȱ4/4
Topic: Markets
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
9) Economistsȱassumeȱthatȱindividuals
A) behaveȱinȱunpredictableȱways.
B) willȱneverȱtakeȱactionsȱtoȱhelpȱothers.
C) preferȱtoȱliveȱinȱaȱsocietyȱthatȱvaluesȱfairnessȱaboveȱallȱelse. D)
areȱrationalȱandȱrespondȱtoȱincentives.
Answer: D
Diff:ȱ1 PageȱRef:ȱ5/5
Topic: PeopleȱAreȱRational
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
3ȱȱȱHubbard/OȇBrienȱNȱEconomics,ȱFifthȱEdition
AACSB: Analyticȱthinking
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
Chapterȱ1ȱȱEconomics:ȱFoundationsȱandȱModelsȱȱȱ 3
10) Economistsȱassumeȱthatȱrationalȱbehaviorȱisȱusefulȱinȱexplainingȱchoicesȱpeopleȱmake
A) becauseȱirrationalȱpeopleȱdoȱnotȱmakeȱeconomicȱchoices.
B) evenȱthoughȱpeopleȱmayȱnotȱbehaveȱrationallyȱallȱtheȱtime.
C) becauseȱindividualsȱactȱrationallyȱallȱtheȱtimeȱinȱallȱcircumstances. D)
evenȱthoughȱpeopleȱrarely,ȱifȱever,ȱbehaveȱinȱaȱrationalȱmanner.
Answer: B
Diff:ȱ2 PageȱRef:ȱ5/5
Topic: PeopleȱAreȱRational
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
12) Economicsȱdoesȱnotȱstudyȱcorrectȱorȱincorrectȱbehaviors,ȱbutȱratherȱitȱassumesȱthatȱeconomic
agentsȱbehaveȱ ,ȱmeaningȱtheyȱmakeȱtheȱbestȱdecisionsȱgivenȱtheirȱknowledgeȱofȱthe
costsȱandȱbenefits.
A) equitably B) rationally C) emotionally D) selfishly
Answer: B
Diff:ȱ2 PageȱRef:ȱ5/5
Topic: PeopleȱAreȱRational
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
13) Considerȱtheȱfollowingȱstatements:
a.ȱ Carȱownersȱpurchaseȱmoreȱgasolineȱfromȱaȱgasȱstationȱthatȱsellsȱgasolineȱatȱaȱlowerȱprice
thanȱotherȱrivalȱgasȱstationsȱinȱtheȱarea.
b.ȱ Banksȱdoȱnotȱtakeȱstepsȱtoȱincreaseȱsecurityȱsinceȱtheyȱbelieveȱitȱisȱlessȱcostlyȱtoȱallowȱsome
bankȱrobberiesȱthanȱtoȱinstallȱexpensiveȱsecurityȱmonitoringȱequipment. c.ȱ
FirmsȱproduceȱmoreȱofȱaȱparticularȱDVDȱwhenȱitsȱsellingȱpriceȱrises.
Whichȱofȱtheȱaboveȱstatementsȱdemonstratesȱthatȱeconomicȱagentsȱrespondȱtoȱincentives?
A) aȱonly B) bȱonly C) cȱonly D) aȱandȱb E) a,ȱb,ȱandȱc
Answer: E
Diff:ȱ3 PageȱRef:ȱ5/5
Topic: PeopleȱRespondȱtoȱEconomicȱIncentives
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
4ȱȱȱHubbard/OȇBrienȱNȱEconomics,ȱFifthȱEdition
14) Supposeȱthatȱsomeȱteachersȱhaveȱdecidedȱthatȱeconomicȱandȱfinancialȱuncertaintyȱhaveȱmade
theȱprospectȱofȱretiringȱmoreȱrisky,ȱandȱthereforeȱcarryȱaȱhigherȱcostȱthanȱnotȱretiring.ȱByȱusing
allȱavailableȱinformationȱasȱtheyȱactȱtoȱachieveȱtheirȱgoals,ȱtheseȱteachersȱareȱexemplifyingȱthe
economicȱideaȱthat
A) peopleȱareȱrational.
B) peopleȱrespondȱtoȱeconomicȱincentives.
C) optimalȱdecisionsȱareȱmadeȱatȱtheȱmargin.
D) equityȱisȱmoreȱimportantȱthanȱefficiency.
Answer: A
Diff:ȱ2 PageȱRef:ȱ5/5
Topic: PeopleȱAreȱRational
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
15) Supposeȱthatȱsomeȱinvestorsȱhaveȱdecidedȱthatȱeconomicȱandȱfinancialȱuncertaintyȱhaveȱmade
theȱprospectȱofȱinvestingȱinȱdomesticȱstockȱmarketsȱmoreȱriskyȱthanȱinvestingȱinȱforeignȱstock
markets,ȱandȱthereforeȱchooseȱtoȱinvestȱinȱforeignȱmarkets.ȱByȱusingȱallȱavailableȱinformationȱas
theyȱactȱtoȱachieveȱtheirȱgoals,ȱtheseȱinvestorsȱareȱexemplifyingȱtheȱeconomicȱideaȱthat
A) peopleȱareȱrational.
B) peopleȱrespondȱtoȱeconomicȱincentives.
C) optimalȱdecisionsȱareȱmadeȱatȱtheȱmargin.
D) equityȱisȱmoreȱimportantȱthanȱefficiency.
Answer: A
Diff:ȱ2 PageȱRef:ȱ5/5
Topic: PeopleȱAreȱRational
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
16) SupposeȱtheȱU.S.ȱgovernmentȱencouragedȱnewȱmedicalȱschoolȱgraduatesȱtoȱtakeȱoverȱexisting
practicesȱfromȱdoctorsȱwishingȱtoȱretireȱbyȱpayingȱbothȱtheȱnewȱandȱretiringȱdoctorsȱ$100,000.
Theseȱdoctorsȱwouldȱbeȱexemplifyingȱtheȱeconomicȱideaȱthat
A) peopleȱareȱrational.
B) peopleȱrespondȱtoȱeconomicȱincentives.
C) optimalȱdecisionsȱareȱmadeȱatȱtheȱmargin.
D) equityȱisȱmoreȱimportantȱthanȱefficiency.
Answer: B
Diff:ȱ2 PageȱRef:ȱ5/5
Topic: PeopleȱRespondȱtoȱEconomicȱIncentives
LearningȱOutcome: Micro-1:ȱIdentifyȱtheȱbasicȱprinciplesȱofȱeconomicsȱandȱexplainȱhowȱtoȱthinkȱlikeȱanȱeconomist
AACSB: Analyticȱthinking
17) SupposeȱtheȱU.S.ȱgovernmentȱencouragedȱconsumersȱtoȱtradeȱinȱtheirȱoldȱautomobilesȱforȱmore
efficient,ȱnewȱmodelsȱbyȱpayingȱupȱtoȱ$5,000ȱforȱtheȱoldȱautomobiles.ȱTheseȱconsumersȱwould
beȱexemplifyingȱtheȱeconomicȱideaȱthat
A) peopleȱareȱrational.
B) peopleȱrespondȱtoȱeconomicȱincentives.
C) optimalȱdecisionsȱareȱmadeȱatȱtheȱmargin.
D) equityȱisȱmoreȱimportantȱthanȱefficiency.
Answer: B
Copyrightȱ©ȱ2015ȱPearsonȱEducation,ȱInc.
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¿Sabrásme decir dél, mi clara fuente? 910
Dímelo, si lo sabes; así Febo
nunca tus frescas ondas escaliente.
Allá dentro en lo fondo está un mancebo
de laurel coronado, y en la mano
un palo propio, como yo, de acebo. 915
Hola, ¿quién está allá? Responde, hermano.
¡Válgame Dios! O tú eres sordo o mudo,
o enemigo mortal del trato humano.
Espirtu soy, de carne ya desnudo,
que busco el cuerpo mío, que me ha hurtado 920
algún ladrón malvado, injusto y crudo.
Callar que callarás. ¿Hasme escuchado?
¡Oh santo Dios! Mi cuerpo mismo veo,
o yo tengo el sentido trastornado.
¡Oh cuerpo! Hete hallado, y no lo creo; 925
tanto sin ti me hallo descontento.
Pon fin ya a tu destierro y mi deseo.
NEMOROSO
SALICIO
ALBANIO
NEMOROSO
SALICIO
NEMOROSO
ALBANIO
NEMOROSO
SALICIO
ALBANIO
SALICIO
ALBANIO
¡Oh manifiesto
ladrón! Mas ¿qué es aquesto? Y ¿es muy bueno
vestiros de lo ajeno, y ante el dueño,
como si fuese un leño sin sentido,
venir muy revestido de mi carne? 990
Yo haré que descarne esa alma osada
aquesta mano airada.
SALICIO
Está quedo.
Llega tú, que no puedo detenelle.
NEMOROSO
SALICIO
¿Yo? dejalle,
si desenclavijalle yo acabase 995
la mano, a que escapase mi garganta.
NEMOROSO
SALICIO
NEMOROSO
Luego vengo,
en cuanto me detengo yo aquí un poco.
Veré cómo de un loco te desatas.
SALICIO
Aunque mueras...
NEMOROSO
ALBANIO
NEMOROSO
Suelta ya.
ALBANIO
¿Qué te hago?
NEMOROSO
ALBANIO
SALICIO
¡Ah, furioso!
Afierra, Nemoroso; tenle fuerte.[143] 1010
Yo te daré la muerte, don Perdido.
Ténmele tú tendido mientras lo ato;
probemos así un rato a castigallo.
Quizá con espantallo habrá algún miedo.
ALBANIO
No.
ALBANIO
SALICIO
Sí.
ALBANIO
¿Sin falta?
Mira cuánto más alta aquella sierra
está que la otra tierra.
NEMOROSO
Bueno es esto.
Él olvidará presto la braveza.
SALICIO
ALBANIO
SALICIO
Calla, escucha.
ALBANIO
ALBANIO
SALICIO
Loco.
ALBANIO
SALICIO
¿Duermes, cierto?
ALBANIO
SALICIO
NEMOROSO
SALICIO
SALICIO
NEMOROSO
SALICIO
¿Qué es esto, Nemoroso, y qué cosa 1140
puede ser tan sabrosa en otra parte
a mí, como escucharte? No la siento,
cuanto más este cuento de Severo;
dímelo por entero, por tu vida,
pues no hay quien nos impida ni embarace. 1145
Nuestro ganado pace, el viento espira,
Filomena sospira en dulce canto,
y en amoroso llanto se amancilla;[151]
gime la tortolilla sobre el olmo,
preséntanos a colmo el prado flores, 1150
y esmalta en mil colores su verdura;
la fuente clara y pura murmurando
nos está convidando a dulce trato.
NEMOROSO