Description
Test bank for ECON MICRO 5th Edition by William A. McEachern
Test bank for ECON MICRO 5th Edition by William A. McEachern
4LTR Press solutions give students the option to choose the format that best suits their learning preferences. This option is perfect for those students who focus on the textbook as their main course resource. Readers gain a strong understanding of economic principles with the hundreds of lively examples found in ECON Micro. This book draws on familiar life experiences to help explain economic concepts, choices, institutions, and events.
Ch 1: The Art and Science of Economic Analysis
1-1: The Economic Problem: Scarce Resources, Unlimited Wants
1-2: The Art of Economic Analysis
1-3: The Science of Economic Analysis
1-4: Some Pitfalls of Faulty Economic Analysis
1-5: If Economists are So Smart, Why aren’t They Rich?
1-6: Final Word
Chapter 1 Problems
Appendix
Ch 2: Economic Tools and Economic Systems
2-1: Choice and Opportunity Cost
2-2: Comparative Advantage, Specialization, and Exchange
2-3: The Economy’s Production Possibilities
2-4: Economic Systems
2-5: Final Word
Chapter 2 Problems
Ch 3: Economic Decision Makers
3-1: The Household
3-2: The Firm
3-3: The Government
3-4: The Rest of the World
3-5: Final Word
Chapter 3 Problems
Ch 4: Demand, Supply, and Markets
4-1: Demand
4-2: What Shifts a Demand Curve?
4-3: Supply
4-4: What Shifts a Supply Curve?
4-5: Demand and Supply Create a Market
4-6: Changes in Equilibrium Price and Quantity
4-7: Disequilibrium
4-8: Final Word
Chapter 4 Problems
Ch 5: Elasticity of Demand and Supply
5-1: Price Elasticity of Demand
5-2: Determinants of the Price Elasticity of Demand
5-3: Price Elasticity of Supply
5-4: Other Elasticity Measures
5-5: Final Word
Chapter 5 Problems
Appendix: Price Elasticity and Tax Incidence
Ch 6: Consumer Choice and Demand
6-1: Utility Analysis
6-2: Measuring Utility
6-3: Applications of Utility Analysis
6-4: Final Word
Chapter 6 Problems
Ch 7: Production and Cost in the Firm
7-1: Cost and Profit
7-2: Production in the Short Run
7-3: Costs in the Short Run
7-4: Costs in the Long Run
7-5: Final Word
Chapter 7 Problems
Ch 8: Perfect Competition
8-1: An Introduction to Perfect Competition
8-2: Short-Run Profit Maximization
8-3: Short-Run Loss Minimization
8-4: Short-Run Supply Curves
8-5: Perfect Competition in the Long Run
8-6: Long-Run Industry Supply Curve
8-7: Perfect Competition and Efficiency
8-8: Final Word
Chapter 8 Problems
Ch 9: Monopoly
9-1: Barriers to Entry
9-2: Revenue for a Monopolist
9-3: Profit Maximization and Cost Minimization for a Monopolist
9-4: Perfect Competition and Monopoly Compared
9-5: Problems with Deadweight Loss Estimates
9-6: Price Discrimination
9-7: Final Word
Chapter 9 Problems
Ch 10: Monopolistic Competition and Oligopoly
10-1: Monopolistic Competition
10-2: Oligopoly
10-3: Three Approaches to Oligopoly
10-4: Comparison of Oligopoly and Perfect Competition
10-5: Final Word
Chapter 10 Problems
Ch 11: Resource Markets
11-1: The Once-Over
11-2: Demand and Supply of Resources
11-3: Temporary and Permanent Resource Price Differences
11-4: Opportunity Cost and Economic Rent
11-5: A Closer Look at Resource Demand
11-6: Final Word
Chapter 11 Problems
Ch 12: Labor Markets and Labor Unions
12-1: Labor Supply
12-2: Why Wages Differ
12-3: Unions and Collective Bargaining
12-4: Union Wages and Employment
12-5: Final Word
Chapter 12 Problems
Ch 13: Capital, Interest, Entrepreneurship, and Corporate Finance
13-1: The Role of Time in Production and Consumption
13-2: The Market for Loanable Funds
13-3: Why Interest Rates Differ
13-4: Present Value and Discounting
13-5: Entrepreneurship
13-6: Corporate Finance
13-7: Final Word
Chapter 13 Problems
Ch 14: Transaction Costs, Asymmetric Information, and Behavioral Economics
14-1: The Firm’s Rationale and Scope of Operation
14-2: Market Behavior with Imperfect Information
14-3: Asymmetric Information in Product Markets
14-4: Asymmetric Information in Labor Markets
14-5: Behavioral Economics
14-6: Final Word
Chapter 14 Problems
Ch 15: Economic Regulation and Antitrust Policy
15-1: Types of Government Regulation
15-2: Regulating a Natural Monopoly
15-3: Alternative Theories of Economic Regulation
15-4: Antitrust Law and Enforcement
15-5: Competitive Trends in the U.S. Economy
15-6: Final Word
Chapter 15 Problems
Ch 16: Public Goods and Public Choice
16-1: Public Goods
16-2: Public Choice in Representative Democracy
16-3: Exploiting Government versus Avoiding Government
16-4: Bureaucracy and Representative Democracy
16-5: Final Word
Chapter 16 Problems
Ch 17: Externalities and the Environment
17-1: Externalities and the Common-Pool Problem
17-2: Optimal Level of Pollution
17-3: Environmental Protection
17-4: Positive Externalities
17-5: Final Word
Chapter 17 Problems
Ch 18: Poverty and Redistribution
18-1: The Distribution of Household Income
18-2: Redistribution Programs
18-3: Who are the Poor?
18-4: Some Unintended Consequences of Income Assistance
18-5: Welfare Reforms
18-6: Final Word
Chapter 18 Problems
Ch 19: International Trade
19-1: The Gains from Trade
19-2: Trade Restrictions and Welfare Loss
19-3: Efforts to Reduce Trade Barriers
19-4: Arguments for Trade Restrictions
19-5: Final Word
Chapter 19 Problems
Ch 20: International Finance
20-1: Balance of Payments
20-2: Foreign Exchange Rates and Markets
20-3: Other Factors Influencing Foreign Exchange Markets
20-4: International Monetary System
20-5: Final Word
Chapter 20 Problems
Ch 21: Economic Development
21-1: Worlds Apart
21-2: Productivity: Key to Development
21-3: International Trade and Development
21-4: Foreign Aid and Economic Development
21-5: Final Word
Test bank for ECON MICRO 5th Edition by William A. McEachern
