Principles of Microeconomics Mankiw 7th Edition Test Bank

Principles of Microeconomics Mankiw

7th Edition Test Bank
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 NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Thinking Like an Economist
KEYWORDS: BLOOM'S: Comprehension

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204Thinking Like an Economist Thinking Like an Economist204

3. The language of economics is

a. needlessly arcane.
b. valuable because it provides a new and useful way of learning about the world.
c. easy to learn within a day.
d. unnecessary to learn for a thorough understanding of economics.

ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.5 - LO: 2-0
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Thinking Like an Economist
KEYWORDS: BLOOM'S: Comprehension

Multiple Choice – Section 01: The Economist as Scientist

1. Economists, like mathematicians, physicists, and biologists,

a. make use of the scientific method.
b. try to address their subject with a scientist’s objectivity.
c. devise theories, collect data, and then analyze these data in an attempt to verify or refute their
theories.
d. All of the above are correct.

ANSWER: d
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.6 - LO: 2-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: Thinking Like an Economist
KEYWORDS: BLOOM'S: Comprehension

© 2015©Cengage
2015 Cengage
Learning.
Learning.
All Rights
All Rights
Reserved.
Reserved.
May not
May
be not
scanned,
be scanned,
copiedcopied
or duplicated,
or duplicated,
or posted
or posted
to a publicly
to a publicly
accessible
accessible
website,
website,
in whole
in whole
or in part.
or in part.
205Thinking Like an Economist Thinking Like an Economist205

2. The essence of science is

a. the laboratory experiment.
b. the scientific method.
c. the study of nature, but not the study of society.
d. All of the above are correct.

ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.6 - LO: 2-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: General
Principles
KEYWORDS: BLOOM'S: Knowledge

3. The scientific method is

a. the use of modern technology to understand the way the world works.
b. the use of controlled laboratory experiments to understand the way the world works.
c. the dispassionate development and testing of theories about how the world works.
d. the search for evidence to support preconceived theories about how the world works.

ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.6 - LO: 2-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: General
Principles
KEYWORDS: BLOOM'S: Knowledge

© 2015©Cengage
2015 Cengage
Learning.
Learning.
All Rights
All Rights
Reserved.
Reserved.
May not
May
be not
scanned,
be scanned,
copiedcopied
or duplicated,
or duplicated,
or posted
or posted
to a publicly
to a publicly
accessible
accessible
website,
website,
in whole
in whole
or in part.
or in part.
206Thinking Like an Economist Thinking Like an Economist206

4. The scientific method is applicable to studying

a. natural sciences, but not social sciences.
b. social sciences, but not natural sciences.
c. both natural sciences and social sciences.
d. None of the above is correct.

ANSWER: c
POINTS: 1
DIFFICULTY: Difficulty: Moderate
LEARNING OBJECTIVES: ECON.MANK.15.6 - LO: 2-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: General
Principles
KEYWORDS: BLOOM'S: Comprehension

5. Who said, "The whole of science is nothing more than the refinement of everyday thinking"?
a. Isaac Newton
b. Albert Einstein
c. Adam Smith
d. Benjamin Franklin

ANSWER: b
POINTS: 1
DIFFICULTY: Difficulty: Easy
LEARNING OBJECTIVES: ECON.MANK.15.6 - LO: 2-1
NATIONAL STANDARDS: United States - BUSPROG: Analytic
TOPICS: DISC: General
Principles
KEYWORDS: BLOOM'S: Knowledge

© 2015©Cengage
2015 Cengage
Learning.
Learning.
All Rights
All Rights
Reserved.
Reserved.
May not
May
be not
scanned,
be scanned,
copiedcopied
or duplicated,
or duplicated,
or posted
or posted
to a publicly
to a publicly
accessible
accessible
website,
website,
in whole
in whole
or in part.
or in part.
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