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 ...
- Exam (elaborations)
- • 22 pages's •
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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 ...
- Exam (elaborations)
- • 5 pages's •
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AP MACRO•AP MACRO