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AP Macroeconomics Module 1 Exam Questions and Answers
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AP Macroeconomics Module 1 Exam Questions and Answers
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AP Macroeconomics Module 1 ExamQuestions and Answers
Provide iian iiexample iiof iia iiresource iifrom iieach iiof iithe iifour iicategories iiof iiresources. ii-
iiAnswers ii--Land-water, iisea iietc.
-Labor-power iiof iiworkers.
-Capital-buildings, iicars iietc. ii
-Enterpreneurship-risk
What iitype iiof iiresource iiis iieach iiof iithe iifollowing?
a. iitime iispent iiflipping iihamburgers iiat iia iirestaurant
b. iia iibulldozer
c. iia iiriver ii- iiAnswers ii-A) iilabor
B) iicapital
C) iiland
You iimake ii$45,000 iiper iiyear iiat iiyour iicurrent iijob iiwith iiWhiz iiKids iiConsultants. iiYou
iiare iiconsidering iia iijob iioffer iifrom iiBrainiacs, iiInc., iiwhich iiwould iipay iiyou ii$50,000 iiper
iiyear. iiIs iieach iiof iithe iifollowing iielements iian iioppor- iitunity iicost iiof iiaccepting iithe iinew
iijob iiat iiBrainiac, iiInc.?
Answer iiyes iior iino, iiand iiexplain iiyour iianswer.
a. iithe iiincreased iitime iispent iicommuting iito iiyour iinew iijob
b. iithe ii$45,000 iisalary iifrom iiyour iiold iijob
c. iithe iimore iispacious iioffice iiat iiyour iinew iijob ii- iiAnswers ii-1) iiyes, iibecause iiif iiI
iiaccept iisecond iioffer iimy iicommuting iitime iiwill iiincrease, iidifference iibetween iiold iiand
iinew iicommuting iitimes iiwill iibe iiopportunity iicost
2) iiyes, iiopportunity iicost iiwill iibe ii45000 iidollar iibecause iiin iiorder iito iiwork iifor
iiBrainiacs, iiI iihave iito iiquit iifrom iiWhiz iiKids, iialso iiI iihave iito iirefuse ii45000 iisalary
iiwhich iiis iiopportunity iicost.
3) iiSpacious iioffice iiis iinot iian iiopportunity iicost, iiit iiis iiadditional iiutility.
Identify iieach iiof iithe iifollowing iistatements iias iipositive iior iinormative, iiand iiexplain iiyour
iianswer.
a. iiSociety iishould iitake iimeasures iito iiprevent iipeople iifrom
engaging iiin iidangerous iipersonal iibehavior.
b. iiPeople iiwho iiengage iiin iidangerous iipersonal iibehavior iiimpose iihigher iicosts iion
iisociety iithrough iihigher iimedical iicosts. ii- iiAnswers ii-A) iinormative iistatement-this iiis
iisome iikind iiof iigood iiidea, iisuggestion iior iiadvice.
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