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Test Bank for Managerial Economics and Strategy, 3rd Edition by Perloff (All Chapters included)
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Complete Test Bank for Managerial Economics and Strategy, 3rd Edition by Jeffrey M. Perloff, James A. Brander ; ISBN13: 9780135640869...(Full Chapters included and organized in reverse order from Chapter 17 to 1)...1. Introduction 2. Supply and Demand 3. Empirical Methods for Demand Analysis 4. ...

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  • December 5, 2024
  • 436
  • 2020/2021
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TEST BANK



Managerial Economics and
Strategy, 3rd Edition by
Jeffrey M. Perloff



Complete Chapter Test Bank
are included (Ch 1 to 17)




** Immediate Download
** Swift Response
** All Chapters included

,Table of Contents are given below




1. Introduction
2. Supply and Demand
3. Empirical Methods for Demand Analysis
4. Consumer Choice
5. Production
6. Costs
7. Firm Organization and Market Structure
8. Competitive Firms and Markets
9. Monopoly
10. Pricing with Market Power
11. Oligopoly and Monopolistic Competition
12. Game Theory and Business Strategy
13. Strategies over Time
14. Managerial Decision Making Under Uncertainty
15. Asymmetric Information
16. Government and Business
17. Global Business

,The test bank is organized in reverse order, with the last chapter displayed first, to ensure that all
chapters are included in this document. (Complete Chapters included Ch17-1)


Managerial Economics and Strategy, 3e (Perloff/Brander)
Chapter 17 Global Business

17.1 Reasons for International Trade

1) The ability to produce a good at a lower opportunity cost than someone else is called
A) competitive production.
B) comparative advantage.
C) selective advantage.
D) absolute advantage.
Answer: B
Skill: Definition
AACSB: Application of Knowledge
Status: Old

2) According to the principal of comparative advantage, a country
A) that produces goods at the lowest absolute cost will export those goods.
B) will import goods it can produce at the lowest relative cost.
C) will export goods it can produce at the lowest relative cost.
D) will only import those goods that it cannot produce for itself.
Answer: C
Skill: Conceptual
AACSB: Application of Knowledge
Status: Old

3) If the U.S. can produce pizza for $5 each and barrels of beer for $25 each, and Germany can
produce pizza for $7 each and barrels of beer for $21 each, then the U.S. has
A) a comparative advantage in the production of beer.
B) an absolute advantage in the production of beer.
C) a comparative advantage in the production of pizza.
D) a comparative advantage in the production of beer and pizza.
Answer: C
Skill: Analytical
AACSB: Analytical Thinking
Status: New

4) If the U.S. can produce pizza for $5 each and barrels of beer for $25 each, and Germany can
produce pizza for $7 each and barrels of beer for $21 each, then Germany has
A) a comparative advantage in the production of beer.
B) an absolute advantage in the production of beer.
C) a comparative advantage in the production of pizza.
D) a comparative advantage in the production of beer and pizza.
Answer: A
Skill: Analytical
AACSB: Analytical Thinking
Status: Old


1

, 5) If the U.S. can produce pizza for $5 each and barrels of beer for $25 each, and Germany can
produce pizza for $7 each and barrels of beer for $21 each, then
A) each country will produce both pizza and beer.
B) the U.S. will produce beer and trade with Germany for pizza.
C) the U.S. will produce pizza and trade with Germany for beer.
D) All of the above.
Answer: C
Skill: Analytical
AACSB: Analytical Thinking
Status: Old

6) The U.S. can produce pizza for $7.50 each and barrels of beer for $37.50 each, and Germany
can produce pizza for €5 each and barrels of beer for €15 each (€ is the symbol for the euro, the
currency Germany uses). If the exchange rate is 1.50 $/€ then
A) the U.S. has a comparative advantage in the production of beer.
B) neither country has a comparative advantage in the production of beer.
C) the U.S. has a comparative advantage in the production of pizza.
D) the U.S. has a comparative advantage in the production of beer and pizza.
Answer: C
Skill: Analytical
AACSB: Analytical Thinking
Status: Old

7) An automobile company has two factories, one in Vietnam and one in Australia, each with the
same number of workers. The Vietnamese factory can produce either 150 engines or 100
transmissions per day. The Australian factory can produce either 100 engines or 75 transmission
per day.
A) The Vietnamese factory has an absolute advantage producing both engines and transmissions.
B) The Australian factory has an absolute advantage in the production of transmissions.
C) The Vietnamese factory has a comparative advantage in the production of transmissions.
D) Which factory has an advantage is irrelevant since the theory of comparative advantage only
applies to countries, not companies.
Answer: A
Skill: Analytical
AACSB: Analytical Thinking
Status: New




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