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AP Macroeconomics Tests with 100% correct Answers
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AP Macroeconomics Tests
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AP Macroeconomics TestsA iitheory iiis iinot: ii- iiAnswers ii-something iithat iimodels iievery iiaspect iiof iireality iiat iionce
Which iiof iithe iifollowing iiis iinot iitrue iiabout iimarkets ii- iiAnswers ii-The iiproduct iimarket iiis
iialso iicalled iithe iiresource iimarket
The iiforce iithat iiAdam iiSmith iifelt iidrove iiany iieconomic iisystem iiwas: ii- iiAnswers ii-The
iiinvisible iihand
The iiscientific iimethod iiis: ii- iiAnswers ii-a iifour-step iiprocess; iirequires iicertain
iiassumptions iiand iisimplifications; iiis iiused iiin iieconomics
People iipursuing iitheir iiown iiself-interest iiare: ii- iiAnswers ii-perhaps iiselfish, iibut
iiperhaps iinot, iidepending iion iitheir iivalues iiand iipoint iiof iiview
Taxes iiare iian iiexample iiof ii______ iielements iiin iiour iieconomic iisystem ii- iiAnswers ii-
command
When iiwe iitalk iiabout iithe iislope iiof iia iiline iiwe iimean: ii- iiAnswers ii-the iirise iiover iithe
iirun
In iithe iiWealth iiof iiNations, iiAdam iiSmith iiadvocated iiall iiof iithe iifollowing iiexcept ii-
iiAnswers ii-abolishing iilaissez-faire iipolicies
Traditional iieconomies ii- iiAnswers ii-Base iitheir iieconomic iidecisions iion iithe iicustoms
iior iireligious iipractices iiof iiancestors
Which iiof iithe iifollowing iiis iinot iione iiof iithe iifour iigoals iitypically iipursued iiby iipolicy
iimakers iiin iieconomic iisystems ii- iiAnswers ii-zero iipoverty
Four iigoals iitypically iipursued iiby iipolicy iimakers iiin iieconomic iisystems ii- iiAnswers ii-full
iiemployment; iiefficient iiuse iiof iiresources; iistable iiprices; iieconomic iigrowth
A iicountry iiwith iia iipure iicapitalist iieconomy iiis ii- iiAnswers ii-none
Which iiof iithe iifollowing iiwould iibe iithe iifocus iiof iia iimacroeconomics iistudy ii- iiAnswers ii-
economy iias iia iiwhole
, Capitalist iieconomies iidepend iion iiwhich iiof iithe iifollowing iito iiallocate iiresources iiand
iifinished iigoods iiand iiservices ii- iiAnswers ii-price iisystem
Resources iiare iitypically iidivided iiinto iithree iitypes. iiThese iiare: ii- iiAnswers ii-land, iilabor,
iiand iicapital
The iihuman iiresource iiinvolved iiin iithe iiproduction iiof iiany iigood iiis iicalled ii- iiAnswers ii-
labor
Some iieconomists iibelieve iithere iishould iibe iifour iicategories iiof iiresources, iiin iiaddition
iito iiland, iilabor, iiand iicapital. iiWhat iiis iithe iiname iiof iithat iicategory? ii- iiAnswers ii-
entrepreunership
When iideveloping iitheories, iia iiscientist: ii- iiAnswers ii-thinks iilogically iiand iicollects
iievidence
Which iiof iithe iifollowing iiis iitrue?
- iia iifree iigood iiis iinot iivalued
- iisomething iithat iiis iirare iiis iinecessarily iiscarce
- iia iifree iigood iiis iiscarce
- iisomething iiis iiscarce iiif iithe iiquantity iipeople iiwant iiexceeds iithe iiresources iiavailable
iito iimake iithat ii
- iisomething iiis iinecessarily iiscarce iiif iipeople iiplace iivalue iion iiit ii- iiAnswers ii-
Something iiis iiscarce iiif iithe iiquantity iipeople iiwant iiexceeds iithe iiresources iiavailable
iito iimake iithat iiamount
Which iiof iithe iifollowing iiwould iia iigovernment iioperating iiin iia iilaissez-faire iieconomist
iinot iido ii- iiAnswers ii-set iiprices
Which iiof iithe iifollowing iiis iian iieconomist's iidefinition iiof iieconomics? ii- iiAnswers ii-A
iisocial iiscience iithat iiexamines iihuman iibehavior iiin iithe iiface iiof iiscarcity
The iibasic iiassumption iiin iieconomics iiis iithat ii____ iiare iilimited iiand ii______ iiare
iiunlimited ii- iiAnswers ii-resources, iiwants
In iithe iifactor iimarket, iiresource iiowners iireceive ii- iiAnswers ii-rent iifor iitheir iiland,
iiwages iifor iitheir iilabor, iiand iiinterest iifor iitheir iicapital
One iithing iigoods iiand iiservices iihave iiin iicommon iiis: ii- iiAnswers ii-they iiboth iisatisfy
iiwants
Money iiacts iias iia iirationing iidevice iifor iigoods iiand iiservices iiin iia iimarket iieconomy.
iiThis iimeans ii- iiAnswers ii-consumers iiwho iiare iiwilling iiand iiable iito iipay iifor iia iigood
iiare iiusually iiable iito iiget iithe iigood
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