Principles of Economics ED.8 by N. Gregory Mankiw - |Test bank| Reviewed/Updated for 2021-ALL Chapters Included Complete

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The Test bank borrows from the elaborated text book fielding questions specially tailored to the text book topics to equip the student with what questions to expect in the quiz’s tests and exams ... Master the principles of economics with the help of the most popular, widely-used economics textbook by students worldwide -- Mankiw�s PRINCIPLES OF ECONOMICS, 8E. With its clear and engaging writing style, this book emphasizes only the material that will help you better understand the world in which you live, will make you a more astute participant in the economy, and will give you a better understanding of both the potential and limits of economic policy. The latest relevant economic examples bring principles to life. The English word that comes from the Greek word for "one who manages a household" is a. market. b. consumer. c. producer. d. economyThe word “economy” comes from the Greek word oikonomos, which means a. “environment.” b. “production.” c. “one who manages a household.” d. “one who makes decisions.. Resources are a. scarce for households but plentiful for economies. b. plentiful for households but scarce for economies. c. scarce for households and scarce for economies. d. plentiful for households and plentiful for economiesIn considering how to allocate its scarce resources among its various members, a household considers a. each member’s abilities. b. each member’s efforts. c. each member’s desires. d. All of the above are correctWhich of the following is correct? a. The word economy comes from the Greek word for “rational thinker.” b. Economists study the management of scarce resources. c. Because economists believe that people pursue their best interests, they are not interested in how people interact. d. All of the above are correct.The overriding reason why households and societies face many decisions is that a. resources are scarce. b. goods and services are not scarce. c. incomes fluctuate with business cycles. d. people, by nature, tend to disagree [Show More]

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