Ap macroeconomics exam - Study guides, Class notes & Summaries

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AP Macroeconomics Exam Review with Answers aggregate demand curve - 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 - Answer>> a curve defining the relationship between real production and price level. business cycles - Answer>> fluctuations in real GDP around the trend value; also called economic fluctuati...

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AP Macroeconomics Exam Correct Answers New Update (Verified A+ Pass) GDP - Answers - total value of all final goods and services produced in a year within that country What is excluded from GDP? - Answers - Intermediate goods, financial transactions, private and public transfer payments, home production Expenditure Approach of GDP - Answers - GDP=C+I+G+(X-M) C= - Answers - personal consumption by household I= - Answers - investment G= - Answers - Government purchases X= - ...

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AP Macroeconomics Exam Test Questions Verified Marking Scheme Current Update (Verified Pass) aggregate demand curve - Answers - 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 - Answers - a curve defining the relationship between real production and price level. business cycles - Answers - fluctuations in real GDP around the trend va...

AP Macroeconomics Exam Questions Complete Solutions New Update (A+ Pass) What are the components of GDP - Answers - Consumption, investment, government spending, and net exports (exports minus imports). What is "C" in the GDP equation? - Answers - Consumption which is done by households. It is all of the goods and services we spend our money on. What is GDP (besides Gross Domestic Product)? - Answers - The total value of goods and services produced in a country over a given period...

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