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AP Macroeconomics Tests Questions
and Answers 100% Pass
A theory is not: - ✔✔something that models every aspect of reality at once
Which of the following is not true about markets - ✔✔The product market is also called the resource
market
The force that Adam Smith felt drove any economic system was: - ✔✔The invisible hand
The scientific method is: - ✔✔a four-step process; requires certain assumptions and simplifications; is
used in economics
People pursuing their own self-interest are: - ✔✔perhaps selfish, but perhaps not, depending on their
values and point of view
Taxes are an example of ______ elements in our economic system - ✔✔command
When we talk about the slope of a line we mean: - ✔✔the rise over the run
In the Wealth of Nations, Adam Smith advocated all of the following except - ✔✔abolishing laissez-faire
policies
Traditional economies - ✔✔Base their economic decisions on the customs or religious practices of
ancestors
Which of the following is not one of the four goals typically pursued by policy makers in economic
systems - ✔✔zero poverty
Emily Charlene © 2025, All Rights Reserved.
, 2|Page
Four goals typically pursued by policy makers in economic systems - ✔✔full employment; efficient use of
resources; stable prices; economic growth
A country with a pure capitalist economy is - ✔✔none
Which of the following would be the focus of a macroeconomics study - ✔✔economy as a whole
Capitalist economies depend on which of the following to allocate resources and finished goods and
services - ✔✔price system
Resources are typically divided into three types. These are: - ✔✔land, labor, and capital
The human resource involved in the production of any good is called - ✔✔labor
Some economists believe there should be four categories of resources, in addition to land, labor, and
capital. What is the name of that category? - ✔✔entrepreunership
When developing theories, a scientist: - ✔✔thinks logically and collects evidence
Which of the following is true?
- a free good is not valued
- something that is rare is necessarily scarce
- a free good is scarce
- something is scarce if the quantity people want exceeds the resources available to make that
- something is necessarily scarce if people place value on it - ✔✔Something is scarce if the quantity people
want exceeds the resources available to make that amount
Which of the following would a government operating in a laissez-faire economist not do - ✔✔set prices
Emily Charlene © 2025, All Rights Reserved.
AP Macroeconomics Tests Questions
and Answers 100% Pass
A theory is not: - ✔✔something that models every aspect of reality at once
Which of the following is not true about markets - ✔✔The product market is also called the resource
market
The force that Adam Smith felt drove any economic system was: - ✔✔The invisible hand
The scientific method is: - ✔✔a four-step process; requires certain assumptions and simplifications; is
used in economics
People pursuing their own self-interest are: - ✔✔perhaps selfish, but perhaps not, depending on their
values and point of view
Taxes are an example of ______ elements in our economic system - ✔✔command
When we talk about the slope of a line we mean: - ✔✔the rise over the run
In the Wealth of Nations, Adam Smith advocated all of the following except - ✔✔abolishing laissez-faire
policies
Traditional economies - ✔✔Base their economic decisions on the customs or religious practices of
ancestors
Which of the following is not one of the four goals typically pursued by policy makers in economic
systems - ✔✔zero poverty
Emily Charlene © 2025, All Rights Reserved.
, 2|Page
Four goals typically pursued by policy makers in economic systems - ✔✔full employment; efficient use of
resources; stable prices; economic growth
A country with a pure capitalist economy is - ✔✔none
Which of the following would be the focus of a macroeconomics study - ✔✔economy as a whole
Capitalist economies depend on which of the following to allocate resources and finished goods and
services - ✔✔price system
Resources are typically divided into three types. These are: - ✔✔land, labor, and capital
The human resource involved in the production of any good is called - ✔✔labor
Some economists believe there should be four categories of resources, in addition to land, labor, and
capital. What is the name of that category? - ✔✔entrepreunership
When developing theories, a scientist: - ✔✔thinks logically and collects evidence
Which of the following is true?
- a free good is not valued
- something that is rare is necessarily scarce
- a free good is scarce
- something is scarce if the quantity people want exceeds the resources available to make that
- something is necessarily scarce if people place value on it - ✔✔Something is scarce if the quantity people
want exceeds the resources available to make that amount
Which of the following would a government operating in a laissez-faire economist not do - ✔✔set prices
Emily Charlene © 2025, All Rights Reserved.
