Ap macroeconomics exam - Study guides, Class notes & Summaries

AP Macroeconomics Exam Review questions and answers 2024 latest update graded A+

AP Macroeconomics Terms Exam Questions and Answers

AP Macroeconomics Exam Questions Correct Answers Current Update (A+ Pass) Economics - Answers - The social science that studies how individuals, institutions, and society make the optimal best choices under conditions of scarcity Microeconomics - Answers - Specific units in the economy (ex: how prices and output are determined for products and how customers react to price changes)d Macroeconomics - Answers - the study of economy-wide phenomena, including inflation, unemployment, and eco...

AP Macroeconomics Definitions Exam Questions and Answers

AP MACROECONOMICS EXAM COMPREHENSIVE REVIEW 2024 society's virtually unlimted wants paired our scarce and limited resources create this problem - Answer>> the "economizing problem" usefulness or satisfaction - Answer>> utility all natural, human, and manufactured items that go into the production of goods and services - Answer>> economic resources they are the four factors of production (AKA economic resources) - Answer>> land, labor, capital, entrepreneurshi...

aggregate demand curve - correct answer a curve depicting the relationship between real GDP demanded (i.e., expenditures) and the price level in the economy; the aggregate demand curve slopes downward from left to right. aggregate supply curve - correct answer a curve defining the relationship between real production and price level. business cycles - correct answer fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus - correct answer the ...

AP Macroeconomics Exam Review Questions And Complete Solutions

AP Macroeconomics Exam Questions All Solved New Update (Verified A+ Pass) Circular flow - Answers - A model that shows how households and firms circulate resources, good, and incomes through the economy. This basic model is expanded to include the government and the foreign sector. Closed economy - Answers - A model that assumes there is no foreign sector (imports and exports) Aggregation - Answers - The process of summing the microeconomic activity of households and firms into a more m...

aggregate demand curve CORRECT ANSWER a curve depicting the relationship between real GDP demanded (i.e., expenditures) and the price level in the economy; the aggregate demand curve slopes downward from left to right. aggregate supply curve CORRECT ANSWER a curve defining the relationship between real production and price level. business cycles CORRECT ANSWER fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus CORRECT ANSWER the differen...

AP Macroeconomics Exam Latest Update Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt