AP MACRO
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AP Macro Unit 2 Review Questions (College Board) ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS Which of the following is true according to the circular flow model? A. Firms are suppliers in both the product and factor markets. B. Firms are demanders in the product markets and suppliers in the factor markets. C. Households are demanders in both the product and factor markets. D. Households are demanders in the product markets and suppliers in the factor markets. E. The government ...
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AP Macro•AP Macro
AP MACRO UNIT 3 QUIZ WITH 100% CORRECT ANSWERS { GRADED +} Progressive tax - A tax for which the percentage of income paid in taxes increases as income increases Regressive tax - A tax for which the percentage of income paid in taxes decreases as income increases Proportional and flat tax - a tax in which people pay an identical rate regardless of income or economic transaction Interest rate effect - When price level increases, lenders need to change higher interest rates to get a ...
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AP MACRO•AP MACRO