Unit 2 macroeconomics test
Pay their employees less than other businesses. Avoid government regulation. Move their factories to other countries and cut jobs. Charge high prices for their goods. When a consumer is able and willing to buy a good or service, he or she creates which of the following?
Federal govt 3 D four E A simple majority of the U. Trending News. Photo of Ted Cruz on a plane with no mask goes viral. Hosting shakeup on 'Dancing With the Stars'.
Free AP Macroeconomics Practice Tests
States extend unemployment while Congress debates. Grant Imahara, 'Mythbusters' co-host, dies at All eyes are on Disney World following its reopening. Praising coach Nick Saban, Trump calls him 'Lou'. Trump turns focus to Obama after coronavirus question. The Law of Demand states that: As prices go down, quantity demanded goes?Double Shifts- Supply and Demand
Choose the letter of the best answer. Not all choices will be used.
Antitrust B. Corporation C. Demand D. Dividend E. Firm F. Household G. Liability H. Merger I. Monopoly J. Natural Monopoly K Patent L. Price ceiling M. Price fixing N.
Price floor O.The prospect of taking AP Macroeconomics during junior or senior year of high school is the cause of a lot of apprehension amongst high school students. Even if you consider yourself an economics expert, you may also find yourself feeling nervous upon enrolling for this class, simply because AP classes are known for being extremely demanding in terms of the amount of material they cover and the depth at which they cover that material.
When looking ahead to having to learn everything taught in AP Macroeconomics, you may find yourself wondering how this information is organized, and what you should focus on in order to adequately prepare yourself for the AP exam, not just in the weeks before it, but throughout your class experience. Armed with this knowledge and these resources, you will have no reason to be nervous about facing AP Macroeconomics—you might even find yourself excited to take the class!
Like all AP courses, AP Macroeconomics aims to replicate the experience of an introductory collegiate course for advanced high schoolers who are intellectually prepared for such a demanding course.
In the case of AP Macroeconomics, this course is an introductory collegiate macroeconomics course. As opposed to AP Microeconomics, which focuses on economic principles as they influence the decisions of producers and consumers, AP Macroeconomics takes a larger view of economics by examining how economic principles can be applied to the actions of an entire government or the interactions between various nations. Students who successfully complete an AP Macroeconomics course typically take the AP Macroeconomics exam in order to attempt to demonstrate their knowledge and earn college credit for their efforts.
The AP Macroeconomics exam consists of two sections: a multiple-choice section and a free response section. The free response section of the AP Macroeconomics exam lasts for one hour. It is recommended that students split their composition time equally between the one long and two short free-response questions. Now that you have a general sense of the topics that AP Macroeconomics expects you to learn, you may be wondering where you can find additional resources to help you make sure that you keep up with the class without accidentally leaving gaps in your AP Macroeconomics knowledge.
Each free AP Macroeconomics Practice Test consists of about a dozen AP Macroeconomics problems; think of each Practice Test as being a little quiz which you can use to test your skills. After completing an AP Macroeconomics Practice Test, you receive detailed statistics about your performance, including how you did in relation to students who answered the same problems and how long it took you to answer each problem. You also get to view full explanations of how to arrive at the correct answer for each question, so if you missed a question, you can figure out where you went wrong and not make the same mistake again later.
Subject optional. Home Embed. Email address: Your name:. Our completely free AP Macroeconomics practice tests are the perfect way to brush up your skills. Take one of our many AP Macroeconomics practice tests for a run-through of commonly asked questions.
You will receive incredibly detailed scoring results at the end of your AP Macroeconomics practice test to help you identify your strengths and weaknesses.Go to AP Central for resources for teachers, administrators, and coordinators.
See the course schedule or browse the YouTube playlist. We'll also offer at-home testing for AP Exams. Note that any related adjustments to AP Exams, such as length or content covered, may not be reflected on all AP Students pages. Explore the principles of economics that apply to an economic system as a whole. The course content outlined below is organized into commonly taught units of study that provide one possible sequence for the course.
Your teacher may choose to organize the course content differently based on local priorities and preferences. This is the core document for the course. It clearly lays out the course content and describes the exam and AP Program in general. Choosing Your AP Courses. Join Your Class Section Online. AP Students. Not a Student? Go to My AP. About the Course About the Exam.
Skills You'll Learn Define economic principles and models Explain given economic outcomes Determine outcomes of specific economic situations Model economic situations using graphs or visual representations. College Course Equivalent A one-semester, introductory college course in macroeconomics. Recommended Prerequisites None. About the Units The course content outlined below is organized into commonly taught units of study that provide one possible sequence for the course.
Course Content. Expand All Collapse All. Topics may include: Scarcity Opportunity cost and the Production Possibilities Curve Comparative advantage and gains from trade Supply and demand Market equilibrium, disequilibrium, and changes in equilibrium.
Topics may include: Financial assets Definition, measurement, and functions of money Banking and the expansion of the money supply Monetary policy. Start a Search. Course Resources resource. Explore Your Future. Career Areas Majors Additional Information. Previous Why Take the Course. Next About the Exam. Not a student? Go to AP Central for resources for educators.The full suite of questions your students received on exam day is available within AP Classroom.
Learn more. Personal progress checks are also available in AP Classroom for use throughout the year and are a great way to ensure your students build mastery of content and skills. Use the progress dashboard to view progress across units and pinpoint strengths and weaknesses to inform instructional planning and additional support. Sign In to AP Classroom.
Free AP Macroeconomics Practice Tests
Exam questions assess the course concepts and skills outlined in the course framework. Encourage your students to visit the AP Macroeconomics student page for exam information and exam practice. The AP Macroeconomics Exam includes two sections. The first section contains 60 multiple-choice questions. The second section is the free-response section, which includes one long question and two short questions.
The skills defined in the course and exam description will be assessed in the same proportions on all versions of the AP Macroeconomics Exam. The chart below provides a detailed breakdown of both the multiple choice and free-response sections. Questions require the use of economics content knowledge and reasoning across the range of course topics and skills in skill categories 1, 2, and 3. Sign in to AP Classroom to access resources including the free-response questions, personal progress checks, the question bank, and practice exams aligned to the current course.
If you are a higher education faculty member interested in seeing questions, please fill out this request form. For free-response questions FRQs from the exam, along with scoring information, check out the table below.
Be sure to review the Chief Reader Report.
In this invaluable resource, the chief reader of the AP Exam compiles feedback from members of the AP Reading leadership to explain how students performed on the FRQs, summarize typical student errors, and address specific concepts and content with which students have struggled the most that year.
Free-Response Questions - Set 1. Free-Response Questions - Set 2. For free-response questions and scoring information from the and earlier exams, visit Past Exam Questions.The final exam is cumulative and covers material from the beginning of the course. Please review all of the subject content, especially from the units which have not been covered in previous exams:. The final exam tests your conceptual, mathematical and graphical understanding of the material covered throughout the entire course.
Please review all course content before attempting the exam. The summary notes below are concise outlines of the main points covered in each session for the final third of the course. These notes are presented only as a study aid in reviewing for the exam. They do not provide the in-depth knowledge needed to successfully complete the exam problems.
Once you are comfortable with the course content, complete the following practice exams. These exams are from Professor William Wheaton's course site, The exam should be completed in 3 hours. This is a closed book exam. You are not allowed to use notes, equation sheets, books or any other aids. Don't show me this again. This is one of over 2, courses on OCW. Find materials for this course in the pages linked along the left.
No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates. Knowledge is your reward. Use OCW to guide your own life-long learning, or to teach others. We don't offer credit or certification for using OCW. Made for sharing. Download files for later. Send to friends and colleagues. Modify, remix, and reuse just remember to cite OCW as the source.
Course Home Syllabus. Unit 1: Supply and Demand. Unit 2: Consumer Theory.
Economics Test: Unit 2
Unit 3: Producer Theory. Unit 4: Welfare Economics. Unit 5: Monopoly and Oligopoly. Unit 6: Topics in Intermediate Microeconomics. Unit 7: Equity and Efficiency. Need help getting started? Don't show me this again Welcome!It allows individuals to invest their capital money in businesses of their choice. Played times. Print Share Edit Delete Report an issue.
Live Game Live. Finish Editing. This quiz is incomplete! To play this quiz, please finish editing it. Delete Quiz. Question 1. Under perfect competition. Which market structure is BEST indicated by the cell phone market? A market that has a few sellers of basically the same goods.
Perfect Competition. Pure Monopoly. Monopolistic Competition. A market where brand-name loyalty is more important than product differentiation. Which of the following best describes an oligopistic market? Many sellers with identical barriers to entry. Many sellers, each with a clearly differentiated product, and no barriers to entry.
A few competing sellers with similar products and high barriers to entry. A few competing sellers of identical products and no barriers to entry. No competition among sellers and high barriers to entry.
A barrier to entry is. A monopoly is a market with.What is the difference between Human and Physical capital? What is specialization, and how does it relate to International Trade? What motivates a country to impose a voluntary export restraint on its own products? What is a trade deficit? The result of a country importing more than it exports. What are some examples of protectionism related to national security?
In the event of a war, the US would need steel and other products from heavy industries. How do tariffs protect infant industries? It shields a young industry from the competition of its more mature rivals.
It eliminated all tariffs and other trade barriers between Canada, Mexico, and the US by What is an import quota? What is absolute advantage? The ability to produce more of a given product using a given amount of resources. What does it mean if an individual, company or country has a comparative advantage over another? That country has a lower opportunity cost in that product. What is the currency of many members of the EU?
What are the arguments in favor of protectionism? They can protect jobs, infant industries, and safeguard national security. What is the impact on the whole economy if specialization occurs? It benefits the whole country because the country produces the product efficiently and it increases trade. What is the law of comparative advantage? The idea that a nation is better off when it produces goods and services for which it has a comparative advantage.
What is the most used source of energy in terms of world economies? What is energy consumption associated with in developed countries? Fossil fuel, hydroelectricity, and nuclear energy. Low levels of energy indicate low levels of industrial activity and high levels of energy indicate high levels of industrial activity. List the indicators of a developed country. List the indicators of a developing country. What does development refer to? What are some of the positives and negatives that occur when a country transitions from a centrally planned economy to a market economy?
Positives: less government control Negatives: adjusting to new changes. What is per capita GDP? What are some countries in transition or recently transitioned from command to mixed economies? How can population be a problem for developing countries? What political factors can slow development of countries? Government corruption, political instability, and from colonial dependency to central planning. Think back to Rich Nation, Poor Nation group activity.
Why did your group pick the Richest nation and why was almost everyone wrong? Does a nation HAVE to have abundant natural resources to be wealthy? Why or why not?