Test Bank For Economics Today The Macro View, 20th edition Roger LeRoy Miller Chapter 1-32
Chapter 1 The Nature of Economics 1.1 The Power of Economic Analysis 1) The economic way of thinking will help you A) make decisions in financing your home. B) analyze solutions to economic problems. C) make better decisions concerning your education. D) all of these Answer: D Diff: 1 Topic: 1.1 The Power of Economic Analysis Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economist AACSB: Analytical thinking 2) Economic analysis is used A) only by instructors and students in economics to understand the world. B) only by business people to raise profits. C) only by policy makers to make policy decisions. D) in decision making. Answer: D Diff: 1 Topic: 1.1 The Power of Economic Analysis Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economist AACSB: Analytical thinking 3) Economic analysis is a tool that A) aids decision making. B) helps us understand why people make mistakes. C) helps us forgive selfish people. D) makes everyone rich. Answer: A Diff: 1 Topic: 1.1 The Power of Economic Analysis Learning Outcome: Micro-1: Identify the basic principles of economics and explain how to think like an economist AACSB: Analytical thinking
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