Exam (elaborations)
AP Macro Unit 2 Review Questions (College Board) with correct Answers
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AP Macro Unit 2 Review Questions (College Board) with correct Answers
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AP Macro Unit 2 Review Questions(College Board) with correct Answers
Which iiof iithe iifollowing iiis iitrue iiaccording iito iithe iicircular iiflow iimodel?
A. iiFirms iiare iisuppliers iiin iiboth iithe iiproduct iiand iifactor iimarkets.
B. iiFirms iiare iidemanders iiin iithe iiproduct iimarkets iiand iisuppliers iiin iithe iifactor
iimarkets.
C. iiHouseholds iiare iidemanders iiin iiboth iithe iiproduct iiand iifactor iimarkets.
D. iiHouseholds iiare iidemanders iiin iithe iiproduct iimarkets iiand iisuppliers iiin iithe iifactor
iimarkets.
E. iiThe iigovernment iiis iia iidemander iiin iithe iiproduct iimarket iionly. ii- iiAnswers ii-D
Which iiof iithe iifollowing iigroups iiof iipeople iiwould iibenefit iifrom iiunanticipated iiinflation?
1. iiSavers
2. iiBorrowers
3. iiLenders
A. ii1 iionly ii
B. ii2 iionly ii
C. ii3 iionly ii
D. ii1 iiand ii2 iionly ii
E. ii1 iiand ii3 iionly ii- iiAnswers ii-B
The iitable iibelow iishows iia iicountry's iimacroeconomic iidata iiin ii2013.
Consumption iiSpending ii($175 iibillion) ii
Individual iiincome iitaxes ii($32 iibillion) ii
Private iiinvestment iispending ii($30 iibillion) ii
Corporate iiTaxes ii($25 iibillion) ii
Exports ii($75 iibillion) ii
Government iipurchases ii($40 iibillion) ii
Imports ii($100 iibillion
The iicountry's iigross iidomestic iiproduct iiis
A. ii$220 iibillion
, B. ii$282 iibillion
C. ii$304 iibillion
D. ii$309 iibillion
E. ii$347 iibillion ii- iiAnswers ii-A
If iiin iia iispecified iiyear iinominal iigross iidomestic iiproduct iigrew iiby ii11 iipercent iiand iireal
iigross iidomestic iiproduct iigrew iiby ii4 iipercent, iiinflation iifor iithis iiyear iiwould iibe
A.-7% ii
B. ii7% ii
C. ii8%
D. ii11%
E. ii15% ii- iiAnswers ii-B
In ii2007, iithe iinominal iigross iidomestic iiproduct ii(GDP) iiwas ii$50 iibillion iiand iithe iiGDP
iideflator iiwas ii200. iiThus iireal iiGDP iiwas
A. ii150 ii
B. ii100
C. ii50
D. ii25
E. ii4 ii- iiAnswers ii-D
If iia iiworker's iinominal iiwage iirate iiincreases iifrom ii$10 iito ii$12 iiper iihour iiand iiat iithe
iisame iitime iithe iigeneral iiprice iilevel iiincreases iiby ii10 iipercent, iithe iiworker's iireal
iiwage iihas
A. iiapproximately iidecreased iiby ii10%
B. iiapproximately iidecreased iiby ii20%
C. iiapproximately iiincreased iiby ii10%
D. iiapproximately iiincreased iiby ii20%
E. iinot iichanged ii- iiAnswers ii-C
The iivalue iiof iiwhich iiof iithe iifollowing iiis iicounted iiin iithe iiUnited iiStates iigross iidomestic
iiproduct?
A. iiClean iiair ii
B. iiChild iicare iia iifather iiprovides iifor iihis iichild
C. iiAn iiautomobile iiproduced iiin iiSweden iiby iia iiUnited iiStates iifirm
D. iiA iicar iiproduced iiin iithe iiUnited iiStates iiand iisold iiin iiEurope
E. iiMedical iiservices iinot iiprovided iidue iito iipreventative iihealth iicare ii- iiAnswers ii-D
Which iiof iithe iifollowing iiwould iicause iithe iiofficial iiunemployment iirate iito iiunderstate
iithe iiproblem iiof iiunemployment?
A. iiWorkers iireceiving iiunemployment iicompensation
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