Microeconomics Canada in the Global Environment Canadian 8th Edition Parkin Test Bank
Product details:
- ISBN-10 : 032180838X
- ISBN-13 : 978-0321808387
- Author: Parkin/Bade
Parkin/Bade 8e trains students to think like economists by bringing critical issues to the forefront by offering a clear introduction to theory and applying the concepts to today’s events, news, and research.
Table contents:
- Chapter 1 What is Economics?
- Introduction: What Is Economics?
- Definition of Economics
- Two Big Economic Questions
- Do Choices Made in the Pursuit of Self-Interest Also Promote the Social Interest?
- The Economic Way of Thinking
- Economics as Social Science and Policy Tool
- Economists in the Economy
- Economics in the News: The Internet for Everyone
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Appendix: Graphs in Economics
- Appendix: Graphs in Economics
- Graphing Economic Data
- Scatter Diagrams
- Graphs Used in Economic Models
- Variables That Move in the Same Direction
- Variables That Move in Opposite Directions
- Variables That Have a Maximum or a Minimum
- Variables That Are Unrelated
- The Slope of a Relationship
- The Slope of a Straight Line
- The Slope of a Curved Line
- Graphing Relationships Among More Than Two Variables
- Mathematical Note: Equations of Straight Lines
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 2 The Economic Problem
- Introduction: The Economic Problem
- Production Possibilities and Opportunity Cost
- Production Efficiency
- Using Resources Efficiently
- Preferences and Marginal Benefit
- Allocative Efficiency
- Gains from Trade
- Achieving the Gains from Trade
- The Liz–Joe Economy and Its PPF
- Economic Growth
- A Nation’s Economic Growth
- Economic Coordination
- Economics in the News: Expanding Production Possibilities
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part One: Understanding the scope of Economics
- Talking With Esther Duflo*
- Chapter 3: Demand and Supply
- Introduction: Demand and Supply
- Markets and Prices
- Demand
- Demand Curve and Demand Schedule
- A Change in Demand
- A Change in the Quantity Demanded Versus a Change in Demand
- Supply
- Supply Curve and Supply Schedule
- A Change in Supply
- A Change in the Quantity Supplied Versus a Change in Supply
- Market Equilibrium
- Price Adjustments
- Predicting Changes in Price and Quantity
- An Increase in Supply
- Changes in Both Demand and Supply
- Economics in the News: Demand for and Supply of Hand Sanitizer
- Mathematical Note: Demand, Supply, and Equilibrium
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 4: Elasticity
- Introduction: Elasticity
- Price Elasticity of Demand
- Calculating Price Elasticity of Demand
- Inelastic and Elastic Demand
- The Factors That Influence the Elasticity of Demand
- Elasticity Along a Linear Demand Curve
- Total Revenue and Elasticity
- More Elasticities of Demand
- Cross Elasticity of Demand
- Elasticity of Supply
- The Factors that Influence the Elasticity of Supply
- Economics in the News: The Elasticity of Supply of Face Masks
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 5: Efficiency and Equity
- Introduction: Efficiency and Equity
- Resource Allocation Methods
- Benefit, Cost, and Surplus
- Consumer Surplus
- Supply, Cost, and Minimum Supply-Price
- Producer Surplus
- Is the Competitive Market Efficient?
- Market Failure
- Alternatives to the Market
- Is the Competitive Market Fair?
- It’s Not Fair if the Result Isn’t Fair
- It’s Not Fair if the Rules Aren’t Fair
- Case Study: A Generator Shortage in a Natural Disaster
- Economics in the News: Making Traffic Flow Efficiently
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 6: Government Actions in Markets
- Introduction: Government Actions in Markets
- A Housing Market with a Rent Ceiling
- Inefficiency of a Rent Ceiling
- Are Rent Ceilings Fair?
- A Labour Market with a Minimum Wage
- Is the Minimum Wage Fair?
- Taxes
- Equivalence of a Tax on Buyers and Sellers
- Taxes and Efficiency
- Tax Incidence and Elasticity of Demand
- Tax Incidence and Elasticity of Supply
- Taxes and Fairness
- Production Quotas and Subsidies
- Production Quotas
- Subsidies
- Markets for Illegal Goods
- Economics in the News: A Cut in the Minimum Wage
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 7: Global Markets in Action
- Introduction: Global Markets in Action
- How Global Markets Work
- What Drives International Trade?
- Why Canada Imports T-Shirts
- Why Canada Exports Aircraft
- Winners, Losers, and the Net Gain from Trade
- Gains and Losses from Exports
- International Trade Restrictions
- Import Quotas
- Other Import Barriers
- The Case Against Protection
- Penalizes Lax Environmental Standards
- Why Is International Trade Restricted?
- Economics in the News: A Trade Deal in Progress
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part Two: Understanding How Markets Work
- Talking With Susan Athey*
- Chapter 8: Utility and Demand
- Introduction: Utility and Demand
- Consumption Choices
- Preferences
- Utility-Maximizing Choice
- Choosing at the Margin
- The Power of Marginal Analysis
- Predictions of Marginal Utility Theory
- A Rise in the Price of Cola
- A Rise in Income
- The Paradox of Value
- Temperature: An Analogy
- New Ways of Explaining Consumer Choices
- Economics in the News: Consumer Choice with Wireless Data Plans
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 9: Possibilities, Preferences, and Choices
- Introduction: Possiblities, Preferences, and Choices
- Consumption Possibilities
- Budget Equation
- Preferences and Indifference Curves
- Marginal Rate of Substitution
- Degree of Substitutability
- Predicting Consumer Choices
- A Change in Price
- A Change in Income
- Substitution Effect and Income Effect
- Economics in the News: Inducing Healthy Choices
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part Three: Understanding Households’ Choices
- Talking with Steven D. Levitt*
- Chapter 10: Output and Costs
- Introduction: Output and Costs
- Economic Cost and Profit
- A Firm’s Opportunity Cost of Production
- Economic Accounting: A Summary
- Short-Run Technology Constraint
- Total Product Curve
- Marginal Product Curve
- Average Product Curve
- Short-Run Cost
- Marginal Cost
- Average Cost
- Why the Average Total Cost Curve Is U-Shaped
- Cost Curves and Product Curves
- Shifts in the Cost Curves
- Long-Run Cost
- Short-Run Cost and Long-Run Cost
- Economies and Diseconomies of Scale
- Economics in the News: Amazon’s Long-Run Decision
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 11: Perfect Competition
- Introduction: Perfect Competition
- What Is Perfect Competition?
- Economic Profit and Revenue
- The Firm’s Output Decision
- Marginal Analysis and the Supply Decision
- Temporary Shutdown Decision
- The Firm’s Supply Curve
- Output, Price, and Profit in the Short Run
- Short-Run Equilibrium
- Three Possible Short-Run Outcomes
- Output, Price, and Profit in the Long Run
- A Closer Look at Entry
- A Closer Look at Exit
- Long-Run Equilibrium
- Changes in Demand and Supply as Technology Advances
- Technological Advances Change Supply
- Competition and Efficiency
- Economics in the News: Perfect Competition in Hand Sanitizer
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 12: Monopoly
- Introduction: Monopoly
- Monopoly and How It Arises
- Monopoly Price-Setting Strategies
- A Single-Price Monopoly’s Output and Price Decision
- Marginal Revenue and Elasticity
- Price and Output Decision
- Single-Price Monopoly and Competition Compared
- Efficiency Comparison
- Rent Seeking
- Price Discrimination
- Two Ways of Price Discriminating
- Increasing Profit and Producer Surplus
- A Price-Discriminating Airline
- Efficiency and Rent Seeking with Price Discrimination
- Monopoly Regulation
- Efficient Regulation of a Natural Monopoly
- Second-Best Regulation of a Natural Monopoly
- Economics in the News: Is Cineplex Misusing Monopoly Power?
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 13: Monopolistic Competition
- Introduction: Monopolistic Competition
- Monopolistic Competition and Other Market Structures
- Measures of Concentration
- Limitations of a Concentration Measure
- Price and Output in Monopolistic Competition
- Profit Maximizing Might Be Loss Minimizing
- Long Run: Zero Economic Profit
- Monopolistic Competition and Perfect Competition
- Is Monopolistic Competition Efficient?
- Product Development and Marketing
- Advertising
- Using Advertising to Signal Quality
- Brand Names
- Economics in the News: Product Differentiation in Bags
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 14: Oligopoly
- Introduction: Oligopoly
- What Is Oligopoly?
- Small Number of Firms
- Oligopoly Games
- The Prisoners’ Dilemma
- An Oligopoly Price-Fixing Game
- One Firm Cheats on a Collusive Agreement
- A Game of Chicken
- Repeated Games and Sequential Games
- A Sequential Entry Game in a Contestable Market
- Anti-Combine Law
- Some Major Anti-Combine Cases
- Economics in the News: Oligopoly Games in Smartphone Service
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part Four: Understanding Firms and Markets
- Talking With Thomas Hubbard*
- Chapter 15: Externalities
- Introduction: Externalities
- Externalities in Our Lives
- Negative Externality: Pollution
- Establish Property Rights
- Mandate Clean Technology
- Tax or Cap and Price Pollution
- Coping with Global Externalities
- Positive Externality: Knowledge
- Government Actions in the Face of External Benefits
- Vouchers
- Economics in the News: The Tradeoff Between Health and Income
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 16: Public Goods and Common Resources
- Introduction: Public Goods and Common Resources
- Classifying Goods and Resources
- Public Goods
- Marginal Social Benefit of a Public Good
- Efficient Quantity of a Public Good
- Inefficient Public Overprovision
- Two Types of Political Equilibrium
- Why Government Is Large and Growing
- Voters Strike Back
- Common Resources
- The Overuse of a Common Resource
- Achieving an Efficient Outcome
- Economics in the News: Developing a Vaccine
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part Five: Understanding Market Failure and Government
- Talking with Caroline M. Hoxby*
- Chapter 17: Markets for Factors of Production
- Introduction: Markets for Factors of Production
- The Anatomy of Factor Markets
- The Demand for a Factor of Production
- A Firm’s Demand for Labour Curve
- Changes in a Firm’s Demand for Labour
- Labour Markets
- A Competitive Labour Market
- Differences and Trends in Wage Rates
- A Labour Market with a Union
- Capital and Natural Resource Markets
- Capital Rental Markets
- Land Rental Markets
- Nonrenewable Natural Resource Markets
- Economics in the News: The Gig and Sharing Economy
- Mathematical Note: Present Value and Discounting
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Chapter 18: Economic Inequality
- Introduction: Economic Inequality
- Measuring Economic Inequality
- The Income Lorenz Curve
- The Distribution of Wealth
- Annual or Lifetime Income and Wealth?
- Trends in Inequality
- Poverty
- Inequality in the World Economy
- Global Inequality and Its Trends
- The Sources of Economic Inequality
- Discrimination
- Contests Among Superstars
- Unequal Wealth
- Income Redistribution
- The Big Tradeoff
- Economics in the News: The Impact of COVID-19 on Economic Inequality
- Worked Problem
- Summary
- Study Plan Problems and Applications
- Additional Problems and Applications
- Part Six: Understanding Factor Markets and Inequality
- Talking With Raj Chetty*
- Glossary
- Credits
- List of Boxes
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