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Test Bank for Economics, 9th edition by Glenn Hubbard and Anthony O'Brien, ISBN: 9780138300036, All 28 Chapters Covered, Verified Latest Edition$27.99
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Test Bank for Economics, 9th edition by Glenn Hubbard and Anthony O'Brien, ISBN: 9780138300036, All 28 Chapters Covered, Verified Latest Edition
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Economics, 9th edition by Glenn Hubbard
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Economics, 9th Edition By Glenn Hubbard
Test Bank for Economics, 9th edition by Glenn Hubbard and Anthony O'Brien, ISBN: 9780138300036, All 28 Chapters Covered, Verified Latest Edition
Test Bank for Economics, 9th edition by Glenn Hubbard and Anthony O'Brien, ISBN: 9780138300036, All 28 Chapters Covered, Verified Latest Edition
Tes...
TEST BANK
Economics, 9th edition
by Glenn Hubbard, All 28 Chapters Covered
,Table of contents
PART 1: INTRODUCTION
1. Economics: Foundations and Models
2. Trade-offs, Comparative Advantage, and the Market System
3. Where Prices Come From: The Interaction of Demand and Supply
4. Economic Efficiency, Government Price Setting, and Taxes
PART 2: MARKETS IN ACTION: POLICY AND APPLICATIONS
5. Externalities, Environmental Policy, and Public Goods
6. Elasticity: The Responsiveness of Demand and Supply
7. The Economics of Health Care
PART 3: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES
8. Firms, the Stock Market, and Corporate Governance
9. Comparative Advantage and the Gains from International Trade
PART 4: MICROECONOMIC FOUNDATIONS: CONSUMERS AND FIRMS
10. Consumer Choice and Behavioral Economics
11. Technology, Production, and Costs
PART 5: MARKET STRUCTURE AND FIRM STRATEGY
12. Firms in Perfectly Competitive Markets
13. Monopolistic Competition: The Competitive Model in a More Realistic Setting
14. Oligopoly: Firms in Less Competitive Markets
15. Monopoly and Antitrust Policy
PART 6: LABOR MARKETS, PUBLIC CHOICE, AND THE DISTRIBUTION OF INCOME
16. The Markets for Labor and Other Factors of Production
17. Public Choice, Taxes, and the Distribution of Income
,PART 7: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH
18. GDP: Measuring Total Production and Income
19. Unemployment and Inflation
20. Economic Growth, the Financial System, and Business Cycles
21. Long-Run Economic Growth: Sources and Policies
PART 8: SHORT-RUN FLUCTUATIONS
22. Aggregate Expenditure and Output in the Short Run
23. Aggregate Demand and Aggregate Supply Analysis
PART 9: MONETARY AND FISCAL POLICY
24. Banks, Money, and the Federal Reserve System
25. Monetary Policy
26. Fiscal Policy
27. Inflation, Unemployment, and Federal Reserve Policy
PART 10: THE INTERNATIONAL ECONOMY
28. Macroeconomics in an Open Economy and the International Financial System
, Economics Digital Update, 9e (Hubbard)
Chapter 1 Economics: Foundations and Models
1.1 Three Key Economic Ideas
1) Apple assembles most iPhones in China and India because the lower wages earned by Chinese and
Indian workers and their experience in electronics manufacturing reduce the costs of assembling iPhones.
This is an example of Apple reacting to which of the three key economic ideas?
A) People are rational.
B) People respond to economic incentives.
C) Optimal decisions are made at the margin.
D) Firms aFempt to maximize revenues.
Answer: B
Diff: 2
Topic: Scarcity
Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an
economist
AACSB: Analytical thinking
Special Feature: Chapter Opener: Should Apple Manufacture the iPhone in the United States?
2) In economics, choices must be made because we live in a world of
A) unemployment.
B) scarcity.
C) greed.
D) unlimited resources.
Answer: B
Diff: 1
Topic: Scarcity
*: Recurring
Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an
economist
AACSB: Analytical thinking
3) Which of the following statements about scarcity is true?
A) Scarcity refers to the situation in which unlimited wants exceed limited resources.
B) Scarcity is not a problem for the wealthy.
C) Scarcity is only a problem when a country has too large a population.
D) Scarcity only arises when there is a wide disparity in income distribution.
Answer: A
Diff: 1
Topic: Scarcity
*: Recurring
Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an
economist
AACSB: Analytical thinking
1
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