Test Bank for Microeconomics, 3rd Edition, Austan Goolsbee, Steven Levitt, Chad Syverson Test Bank for Microeconomics, 3rd Edition, Austan Goolsbee, Steven Levitt, Chad Syverson
TEST BANK FOR
MICROECONOMIC
S, 3RD EDITION,
AUSTAN
GOOLSBEE,
STEVEN LEVITT,
CHAD SYVERSON
, Name Class Dat
: : e:
Chapter 01: Adventures in Microeconomics
Multiple Choice
1. Which of the following is considered a microeconomic topic?
a. unemployment
b. inflation
c. gross domestic product
d. the telecommunications industry
ANSWER: d
2. Which of the following is a microeconomic policy?
a. fiscal policy
b. monetary policy
c. rent control
d. tariffs imposed on all importing
nations
ANSWER: c
3. Which of the following is NOT a microeconomic topic?
a. a tax on tobacco
b. expansionary monetary policy
c. a subsidy for solar power
d. a quota on taxicabs
ANSWER: b
4. To learn the intricacies of theories and models, economists use:
a. graphs and
mathematics.
b. their best guess.
c. Wikipedia.
d. only the stock market.
ANSWER: a
5. Examples of using theories and models include:
a. understanding how members of OPEC choose how much oil to
produce.
b. explaining how the NBA sets salaries for rookies.
c. A and B.
d. none of the above.
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