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AP Macroeconomics Tests Questions and Answers 100% Pass
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AP Macroeconomics Tests Questions and Answers 100% Pass A theory is not: - something that models every aspect of reality at once Which of the following is not true about markets - The product market is also called the resource market The force that Adam Smith felt drove any economic system was...

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  • January 8, 2025
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ap macroeconomics tests questions and answers 100

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  • AP Macroeconomics
  • AP Macroeconomics

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AP Macroeconomics Tests Questions
and Answers 100% Pass

A theory is not: - ✔✔something that models every aspect of reality at once


Which of the following is not true about markets - ✔✔The product market is also called the resource

market


The force that Adam Smith felt drove any economic system was: - ✔✔The invisible hand


The scientific method is: - ✔✔a four-step process; requires certain assumptions and simplifications; is

used in economics


People pursuing their own self-interest are: - ✔✔perhaps selfish, but perhaps not, depending on their

values and point of view


Taxes are an example of ______ elements in our economic system - ✔✔command


When we talk about the slope of a line we mean: - ✔✔the rise over the run


In the Wealth of Nations, Adam Smith advocated all of the following except - ✔✔abolishing laissez-faire

policies


Traditional economies - ✔✔Base their economic decisions on the customs or religious practices of

ancestors


Which of the following is not one of the four goals typically pursued by policy makers in economic

systems - ✔✔zero poverty




Emily Charlene © 2025, All Rights Reserved.

, 2|Page


Four goals typically pursued by policy makers in economic systems - ✔✔full employment; efficient use of

resources; stable prices; economic growth


A country with a pure capitalist economy is - ✔✔none


Which of the following would be the focus of a macroeconomics study - ✔✔economy as a whole


Capitalist economies depend on which of the following to allocate resources and finished goods and

services - ✔✔price system


Resources are typically divided into three types. These are: - ✔✔land, labor, and capital


The human resource involved in the production of any good is called - ✔✔labor


Some economists believe there should be four categories of resources, in addition to land, labor, and

capital. What is the name of that category? - ✔✔entrepreunership


When developing theories, a scientist: - ✔✔thinks logically and collects evidence


Which of the following is true?


- a free good is not valued


- something that is rare is necessarily scarce


- a free good is scarce


- something is scarce if the quantity people want exceeds the resources available to make that


- something is necessarily scarce if people place value on it - ✔✔Something is scarce if the quantity people

want exceeds the resources available to make that amount


Which of the following would a government operating in a laissez-faire economist not do - ✔✔set prices




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