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AP Microeconomics Exam Module 4 Review questions with complete solutions
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AP Microeconomics Exam Module 4 Review questions with complete solutions
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AP Microeconomics Exam Module 4 Reviewquestions with complete solutions
Product nnMarket nn- nncorrect nnanswer-the nnmarket nnfor nnfinal nngoods nnand nnservices
Input nn- nncorrect nnanswer-a nngood nnused nnto nnproduce nnanother nngood
Factor nnMarket nn- nncorrect nnanswer-the nnmarket nnfor nnthe nnfactors nnof nnproduction nnlike nnland, nncapital nnand
nnlabor
Circular nnFlow nn- nncorrect nnanswer-a nnmodel nnshowing nnhow nngoods, nnservices, nnresources, nnand nnmoney
nneach nnflow nnthrough nnthe nneconomy nn
http://www.economicsonline.co.uk/Managing%20the%20macro-
economy%20graphs/Circular_flow_income.png
Monopsony nn- nncorrect nnanswer-the nnsingle nnbuyer nnof nnsome nngood nnor nnservice, nntypically nnthe nnsingle
nnbeer nnof nnlabor nnin nnsome nnmarket
Which nnof nnthe nnfollowing nnis nnmost nnlikely nnto nnbe nnpurchased nnin nnthe nnfactor nnmarket? nn
You nnwill nnchoose nntwo nnanswers nnfor nnthis nnquestion.
A) nnShampoo nnand nndog nnfood
B) nnCement nnand nncopper nnwire
C) nnOpera nntickets nnand nnsushi
D) nnAutomobiles nnand nndeodorant
, E) nnDirt nnand nnTimber nn- nncorrect nnanswer-B) nnCement nnand nncopper nnwire
E) nnDirt nnand nnTimber
If nnMark nnsells nncattle nnto nna nnmeat nnpacking nnplant, nnMark nnis nnpart nnof nnthe nn____________market. nn
The nnplant nnis nna nn___________. nn
This nnquestion nnwill nnhave nntwo nncorrect nnanswers.
A) nnresource, nnmonopsony nnbuyer
B) nnresource, nnhousehold
C) nnresource, nnfirm
D) nnproduct, nnfirm
E) nnresource, nnpart nnof nnthe nncircular nnflow nn- nncorrect nnanswer-C) nnresource, nnfirm
E) nnresource, nnpart nnof nnthe nncircular nnflow
In nnthe nncircular nnflow nnmodel, nnhouseholds nntend nnto nnprovide nnwhich nnof nnthe nnfollowing? nn
You nnwill nnchoose nntwo nnanswers nnfor nnthis nnquestion.
A) nnLabor, nnland
B) nnRent, nnwages
C) nnInterest, nncapital
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