Test Bank for Principles of Economics

Version: 3.0 Rittenberg

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 Table of Contents
Chapter 1: Economics: The Study of Choice
1.1 Start Up: Economics In The News
1.2 Defining Economics
1.3 The Field Of Economics
1.4 The Economists’ Tool Kit
1.5 Review And Practice
Chapter 2: Confronting Scarcity: Choices in Production
2.1 Start Up: An Attempt To Produce Safer Air Travel
2.2 Factors Of Production
2.3 The Production Possibilities Curve
2.4 Applications Of The Production Possibilities Model
2.5 Review And Practice
Chapter 3: Demand and Supply
3.1 Start Up: Crazy For Coffee
3.2 Demand
3.3 Supply
3.4 Demand, Supply, And Equilibrium
3.5 Review And Practice
Chapter 4: Applications of Demand and Supply
4.1 Start Up: A Composer Logs On
4.2 Putting Demand And Supply To Work
4.3 Government Intervention In Market Prices: Price Floors And Price Ceilings
4.4 The Market For Health Care Services
4.5 Review And Practice
Chapter 5: Elasticity: A Measure of Response
5.1 Start Up: Raise Fares? Lower Fares? What’s A Public Transit Manager To Do?
5.2 The Price Elasticity Of Demand
5.3 Responsiveness Of Demand To Other Factors
5.4 Price Elasticity Of Supply
5.5 Review And Practice
Chapter 6: Markets, Maximizers, and Efficiency
6.1 Start Up: A Drive In The Country
6.2 The Logic Of Maximizing Behavior
6.3 Maximizing In The Marketplace
6.4 Market Failure
6.5 Review And Practice
Chapter 7: The Analysis of Consumer Choice
7.1 Start Up: A Day At The Grocery Store
7.2 The Concept Of Utility
7.3 Utility Maximization And Demand
7.4 Indifference Curve Analysis: An Alternative Approach To Understanding
Consumer Choice
7.5 Review And Practice
Chapter 8: Production and Cost
8.1 Start Up: Street Cleaning Around The World
8.2 Production Choices And Costs: The Short Run
8.3 Production Choices And Costs: The Long Run
8.4 Review And Practice
Chapter 9: Competitive Markets for Goods and Services
9.1 Start Up: Life On The Farm
9.2 Perfect Competition: A Model
9.3 Output Determination In The Short Run
9.4 Perfect Competition In The Long Run
9.5 Review And Practice
Chapter 10: Monopoly
10.1 Start Up: Surrounded By Monopolies
10.2 The Nature Of Monopoly
10.3 The Monopoly Model
10.4 Assessing Monopoly
10.5 Review And Practice
Chapter 11: The World of Imperfect Competition
11.1 Start Up: The Excitement Of Groupon: What Rivals Will It Face?
11.2 Monopolistic Competition: Competition Among Many
11.3 Oligopoly: Competition Among The Few
11.4 Extensions Of Imperfect Competition: Advertising And Price Discrimination
11.5 Review And Practice
Chapter 12: Wages and Employment in Perfect Competition
12.1 Start Up: College Pays
12.2 The Demand For Labor
12.3 The Supply Of Labor
12.4 Labor Markets At Work
12.5 Review And Practice
Chapter 13: Interest Rates and the Markets for Capital and Natural Resources
13.1 Start Up: Mars—Here We Come!
13.2 Time And Interest Rates
13.3 Interest Rates And Capital
13.4 Natural Resources And Conservation
13.5 Review And Practice
Chapter 14: Imperfectly Competitive Markets for Factors of Production
14.1 Start Up: Hockey Players Frozen Out
14.2 Price Setting Buyers: The Case Of Monopsony
14.3 Monopsony And The Minimum Wage
14.4 Price Setters On The Supply Side
14.5 Review And Practice
Chapter 15: Public Finance and Public Choice
15.1 Start Up: Where Your Tax Dollars Go
15.2 The Role Of Government In A Market Economy
15.3 Financing Government
15.4 Choices In The Public Sector
15.5 Review And Practice
Chapter 16: Antitrust Policy and Business Regulation
16.1 Start Up: The Plastic War
16.2 Antitrust Laws And Their Interpretation
16.3 Antitrust And Competitiveness In A Global Economy
16.4 Regulation: Protecting People From The Market
16.5 Review And Practice
Chapter 17: International Trade
17.1 Start Up: Trade Winds
17.2 The Gains From Trade
17.3 Two Way Trade
17.4 Restrictions On International Trade
17.5 Review And Practice
Chapter 18: The Economics of the Environment
18.1 Start Up: Environmental Headwinds
18.2 Maximizing The Net Benefits Of Pollution
18.3 Alternatives In Pollution Control
18.4 Review And Practice
Chapter 19: Inequality, Poverty, and Discrimination
19.1 Start Up: Occupy Wall Street And The World
19.2 Income Inequality
19.3 The Economics Of Poverty
19.4 The Economics Of Discrimination
19.5 Review And Practice
Chapter 20: Macroeconomics: The Big Picture
20.1 Start Up: Economy Limps Along
20.2 Growth Of Real Gdp And Business Cycles
20.3 Price Level Changes
20.4 Unemployment
20.5 Review And Practice
Chapter 21: Measuring Total Output and Income
21.1 Start Up: The Lockup
21.2 Measuring Total Output
21.3 Measuring Total Income
21.4 Gdp And Economic Well Being
21.5 Review And Practice
Chapter 22: Aggregate Demand and Aggregate Supply
22.1 Start Up: The Great Warning
22.2 Aggregate Demand
22.3 Aggregate Demand And Aggregate Supply: The Long Run And The Short
Run
22.4 Recessionary And Inflationary Gaps And Long Run Macroeconomic
Equilibrium
22.5 Review And Practice
Chapter 23: Economic Growth
23.1 Start Up: How Important Is Economic Growth?
23.2 The Significance Of Economic Growth
23.3 Growth And The Long Run Aggregate Supply Curve
23.4 Determinants Of Economic Growth
23.5 Review And Practice
Chapter 24: The Nature and Creation of Money
24.1 Start Up: How Many Macks Does It Cost?
24.2 What Is Money?
24.3 The Banking System And Money Creation
24.4 The Federal Reserve System
24.5 Review And Practice
Chapter 25: Financial Markets and the Economy
25.1 Start Up: Clamping Down On Money Growth
25.2 The Bond And Foreign Exchange Markets
25.3 Demand, Supply, And Equilibrium In The Money Market
25.4 Review And Practice
Chapter 26: Monetary Policy and the Fed
26.1 Start Up: The Fed’s Extraordinary Challenges In 2008
26.2 Monetary Policy In The United States
26.3 Problems And Controversies Of Monetary Policy
26.4 Monetary Policy And The Equation Of Exchange
26.5 Review And Practice
Chapter 27: Government and Fiscal Policy
27.1 Start Up: A Massive Stimulus
27.2 Government And The Economy
27.3 The Use Of Fiscal Policy To Stabilize The Economy
27.4 Issues In Fiscal Policy
27.5 Review And Practice
Chapter 28: Consumption and the Aggregate Expenditures Model
28.1 Start Up: A Dismal Year For Retailers
28.2 Determining The Level Of Consumption
28.3 The Aggregate Expenditures Model
28.4 Aggregate Expenditures And Aggregate Demand
28.5 Review And Practice
Chapter 29: Investment and Economic Activity
29.1 Start Up: Jittery Firms Slash Investment
29.2 The Role And Nature Of Investment
29.3 Determinants Of Investment
29.4 Investment And The Economy
29.5 Review And Practice
Chapter 30: Net Exports and International Finance
30.1 Start Up: Currency Crises Shake The World
30.2 The International Sector: An Introduction
30.3 International Finance
30.4 Exchange Rate Systems
30.5 Review And Practice
Chapter 31: Inflation and Unemployment
31.1 Start Up: The Inflation/Unemployment Conundrum
31.2 Relating Inflation And Unemployment
31.3 Explaining Inflation–Unemployment Relationships
31.4 Inflation And Unemployment In The Long Run
31.5 Review And Practice
Chapter 32: A Brief History of Macroeconomic Thought and Policy
32.1 Start Up: Three Revolutions In Macroeconomic Thought
32.2 The Great Depression And Keynesian Economics
32.3 Keynesian Economics In The 1960s And 1970s
32.4 Macroeconomics For The 21st Century
32.5 Review And Practice