Microeconomics 3rd Edition Hubbard Test Bank
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Microeconomics 3rd Edition Hubbard Test Bank
Product Details:
- Author: Glenn Hubbard; Anthony Patrick O’Brien; Jason Childs; Apostolos Serletis
Hubbard & O’Brien is the only book that motivates students to learn economics through real business examples.
The #1 question students of economics ask themselves is: “Why am I here, and will I ever use this?” Hubbard/O’Brien answer this question by demonstrating that real businesses use economics to make real decisions daily. This is motivating to all students, whether they are business majors or not. All students can relate to businesses they encounter in their everyday lives. Whether they open an art studio, do social work, trade on Wall Street, work for the government, or bartend at the local pub, students will benefit from understanding the economic forces behind their work.
The book motivates users by demonstrating how real businesses use economics to make real decisions on a daily basis. Covers the different Market Structures in an intuitive fashion so that readers of all backgrounds and fields can grasp the importance and flow of these concepts. Chapter opening cases, examples and figures motivate the economic principles covered, while Solved Problems provide models of how to solve an econommic problem – keeping readers focused on the main ideas of each chapter, and preventing them from getting bogged down due to a lack of basic math or “word.
Table of contents:
- Part 1 Introduction
- 1 Economics: Foundations and Models
- Economics in Your Life and Career: How Much Will You Pay for a Cup of Coffee?
- Three Key Economic Ideas
- People Are Rational
- People Respond to Incentives
- Apply the Concept: Does Canada’s Health Care System Contribute to Obesity?
- Optimal Decisions Are Made at the Margin
- Solved Problem: 1.1 Binge Watching and Decisions at the Margin
- The Economic Problems All Societies Must Solve
- What Goods and Services Will Be Produced?
- How Will the Goods and Services Be Produced?
- Who Will Receive the Goods and Services Produced?
- Centrally Planned Economies versus Market Economies
- Apply the Concept: Central Planning Leads to Some Odd Products
- The Modern Mixed Economy
- Efficiency and Equity
- Apply the Concept: The Equity–Efficiency Trade-off in the Classroom
- Economic Models
- The Role of Assumptions in Economic Models
- Forming and Testing Hypotheses in Economic Models
- Positive and Normative Analysis
- Economics as a Social Science
- Don’t Let This Happen to You: Don’t Confuse Positive Analysis with Normative Analysis
- Apply the Concept: Should the Government of Saskatchewan Increase Its Minimum Wage?
- Microeconomics and Macroeconomics
- The Language of Economics
- Economic in Your Life and Career: How Much Will You Pay for a Cup of Coffee?
- Conclusion
- Key Terms
- Chapter Summary and Problems
- Critical Thinking Exercises
- Appendix: Using Graphs and Formulas
- Graphs of One Variable
- Graphs of Two Variables
- Slopes of Lines
- Taking into Account More than Two Variables on a Graph
- Positive and Negative Relationships
- Determining Cause and Effect
- Are Graphs of Economic Relationships Always Straight Lines?
- Slopes of Nonlinear Curves
- Formulas
- Formula for a Percentage Change
- Formulas for the Areas of a Rectangle and a Triangle
- Summary of Using Formulas
- Problems and Applications
- Economics in Your Life and Career: The Trade-offsWhen You Buy a Car
- 2 Trade-offs, Comparative Advantage,and the Market System
…
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