ECON Micro, 6th Edition by William A. McEachern Test Bank

Test Bank for ECON Micro, 6th Edition by William A. McEachern TEST BANK ISBN-13: 9781337408066 Full chapter included Part 1: Introduction to Economics Chapter 1: The Art and Science of Economic Analysis 1-1: The E ...

Test Bank for ECON Micro, 6th Edition by William A. McEachern TEST BANK ISBN-13: 9781337408066 Full chapter included Part 1: Introduction to Economics Chapter 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 Appendix Chapter 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 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 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 Part 2: Introduction to the Market System Chapter 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 Appendix Chapter 6: Consumer Choice and Demand 6-1: Utility Analysis 6-2: Measuring Utility 6-3: Applications of Utility Analysis 6-4: Final Word Chapter 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 Part 3: Market Structure and Pricing Chapter 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 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 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 Part 4: Resource Markets Chapter 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 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 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 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 Part 5: Market Failure and Public Policy Chapter 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 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 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 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 Part 6: International Economics Chapter 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 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 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