AP Macroeconomics Bundled Exam Questions WITH CORRECT Answers

P Macroeconomics UPDATED Actual Exam Questions and CORRECT Answers Movement on Short-Run Phillips Curve - CORRECT ANSWER- Shift in AD (graph movement is in opposite direction) Shift of Short-Run Phillips Curve - CORRECT ANSWER- Shift in SRAS (shift is in opposite direction)

AP Macroeconomics Unit 1 UPDATED ACTUAL Questions and CORRECT Answers Capital - CORRECT ANSWER - Produced goods that can be used as inputs for further production, such as factories, machinery, tools, computers and buildings Ceteris Paribus - CORRECT ANSWER - A Latin term meaning "all othe...

AP Macroeconomics Tests UPDATED ACTUAL Questions and CORRECT Answers A theory is not: - CORRECT ANSWER - something that models every aspect of reality at once Which of the following is not true about markets - CORRECT ANSWER - The product market is also called the resource marke

AP Macroeconomics Money UPDATED ACTUAL Questions and CORRECT Answers money - CORRECT ANSWER - Any asset that can be exchanged easily for a good or service what functions does money serve in an economy? - CORRECT ANSWER - - store of value - medium of exchange - unit of measure

AP Macroeconomics Module 1 UPDATED ACTUAL Questions and CORRECT Answers Command Economy - CORRECT ANSWER - --an economy where the government makes all economic decisions about how the factors of production are used. --ex: Cuba --no incentive to take risks b/c the gov't controls the econo...

Supply and Demand: AP Macroeconomics UPDATED ACTUAL Questions and CORRECT Answers competitive market - CORRECT ANSWER - a market in which there are many buyers and sellers of the same good or service, none of whom can influence the price at which the good or service is sold. supply and dema...

Section 5 WS AP Macroeconomics UPDATED ACTUAL Questions and CORRECT Answers A share in the ownership of a company held by a shareholder is considered a - CORRECT ANSWER - stock Which of the following would accurately characterize the portion of a firm's profit paid to the owner of one sh...

AP Macroeconomics Unit 2 Progress Check: MCQ UPDATED ACTUAL Questions and CORRECT Answers Which statement is true about the circular flow diagram of an economy? A) The market for goods and services connects household spending to government spending. B) The market for factors of production con...

AP Macroeconomics: Unit 2 UPDATED ACTUAL Questions and CORRECT Answers national income accounting - CORRECT ANSWER - The techniques used to measure the overall production of the economy and other related variables for the nation as a whole. gross domestic product - CORRECT ANSWER - The total...

AP Macroeconomics Unit 1 test UPDATED ACTUAL Questions and CORRECT Answers economics - CORRECT ANSWER - study of how society manages its scarce resources macroeconomics vs microeconomics - CORRECT ANSWER - macro: study of nation wide phenomena like inflation, growth and income etc. micro: c...

P Macroeconomics Exam UPDATED ACTUAL Questions and CORRECT Answers definition of economics - CORRECT ANSWER - the science of scarcity positive statements - CORRECT ANSWER - Based on facts. Avoids value judgements (what is). normative - CORRECT ANSWER - subjective and involves judgement

AP MACROECONOMICS FINALACTUAL Questions and CORRECT Answers economics - CORRECT ANSWER - ..., the study of how society manages its scarce resources scarcity - CORRECT ANSWER - ...not enough to go around resources - CORRECT ANSWER - ...simple things that satisfy human wants, used to make oth...

AP Macroeconomics: Final Exam UPDATED ACTUAL Questions and CORRECT Answers What is the most fundamental issue that economics addresses? - CORRECT ANSWER - Use of scarce resources Inflation occurs when there is a sustained increase in - CORRECT ANSWER - average price level An increase in sp...

AP Macroeconomics Exam Review UPDATED ACTUAL Questions and CORRECT Answers Movement on Short-Run Phillips Curve - CORRECT ANSWER - Shift in AD (graph movement is in opposite direction) Shift of Short-Run Phillips Curve - CORRECT ANSWER - Shift in SRAS (shift is in opposite direction)