Principles of Microeconomics, 9e - Test Item File 1 (Case/Fair/Oster)

Chapter 1The Scope and Method of Economics

1.1

Why Study Economics?

1

Multiple Choice

1)

Which of the following is NOT listed in the book as a reason to study economics?

A)

to learn a way of thinking

B)

to understand society and global affairs

C)

to be an informed voter

D)

to learn how to make lots of money

Answer:

D

Diff: 1

Topic:

Why Study Economics?

Skill:

Fact

2)

Among the fundamental concepts in economics are

A)

opportunity cost.

B)

marginalism.

C)

efficient markets.

D)

all of the above

Answer:

D

Diff: 1

Topic:

Why Study Economics?

Skill:

Fact

3)

Which of the following is the best definition of economics?

A)

the study of how individuals and...