Economics 5th Edition Hubbard Test Bank

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Product Details:

• ISBN-10 ‏ : ‎ 0133455440
• ISBN-13 ‏ : ‎ 978-0133455441
• Author: R. Glenn Hubbard, Anthony P. O’Brien

One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Economics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.

Table of contents:

1. PART 1: INTRODUCTION
2. Chapter 1: Economics: foundations and ideas
3. Learning objectives
4. Three key economic ideas
5. Learning objective
6. People are rational
7. People respond to economic incentives
8. Optimal decisions are made at the margin
9. Scarcity, trade-offs and the economic problem that every society must solve
10. Learning objective
11. What goods and services will be produced?
12. How will the goods and services be produced?
13. Who will receive the goods and services produced?
14. Centrally planned economies versus market economies
15. The modern ‘mixed’ economy
16. Efficiency and equity
17. Economic models
18. Learning objective
19. The role of assumptions in economic models
20. Forming and testing hypotheses in economic models
21. Normative and positive analysis
22. Economics as a social science
23. Microeconomics and Macroeconomics
24. Learning objective
25. Economic skills and economics as a career
26. Learning objective
27. Conclusion
28. Chapter summary and problems
29. Key terms
30. Three key economic ideas
31. Scarcity, trade-offs and the economic problem that every society must solve
32. Economic models
33. Microeconomics and macroeconomics
34. Economic skills and economics as a career
35. Appendix
36. Using graphs and formulas
37. Graphs of one variable
38. Graphs of two variables
39. Slopes of lines
40. Taking into account more than two variables on a graph
41. Positive and negative relationships
42. Determining cause and effect
43. Are graphs of economic relationships always straight lines?
44. Slopes of non-linear curves
45. Formulas
46. Formula for a percentage change
47. Formulas for the areas of a rectangle and a triangle
48. Summary of using formulas
49. Appendix Problems
50. Using graphs and formulas
51. Problems and applications
52. Endnotes

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