Ap macro Study guides, Class notes & Summaries

This document is a summary of each unit from 1 to 6 in AP Macroeconomics and has a short course summary at the end of the document. It has definitions and graphs but does not cover criticisms or shortcomings, and it should not be used as the sole study material for the AP exam but as a supplement.

AP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progress Check MCQAP Macroeconomics Scoring Guide Unit 6 Progr...

society's virtually unlimted wants paired our scarce and limited resources create this problem CORRECT ANSWER the "economizing problem" usefulness or satisfaction CORRECT ANSWER utility all natural, human, and manufactured items that go into the production of goods and services CORRECT ANSWER economic resources they are the four factors of production (AKA economic resources) CORRECT ANSWER land, labor, capital, entrepreneurship all gifts of nature CORRECT ANSWER land manufactur...

society's virtually unlimted wants paired our scarce and limited resources create this problem - correct answer the "economizing problem" usefulness or satisfaction - correct answer utility all natural, human, and manufactured items that go into the production of goods and services - correct answer economic resources they are the four factors of production (AKA economic resources) - correct answer land, labor, capital, entrepreneurship all gifts of nature - correct answer...

AP MACRO UNIT 2 REVIEW QUESTIONS (COLLEGE BOARD) WITH COMPLETE SOLUTIONS 100%AP MACRO UNIT 2 REVIEW QUESTIONS (COLLEGE BOARD) WITH COMPLETE SOLUTIONS 100%

Scarcity exists because - correct answer A. human wants exceed the resources available to satisfy them An opportunity cost is - correct answer C. the benefits of the highest-valued alternative forgone You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is - correct answer E. We cannot determine what the opportunity cost is without knowing which alternative,...

AP Macroeconomics Ultimate Guide 2023 with complete solution

Movement on Short-Run Phillips Curve CORRECT ANSWER Shift in AD (graph movement is in opposite direction) Shift of Short-Run Phillips Curve CORRECT ANSWER Shift in SRAS (shift is in opposite direction) Factors of Production CORRECT ANSWER 1. Land 2. Labor 3. Capital 4. Technology Shifters of Demand for Loanable Funds CORRECT ANSWER 1. Incentive to Invest 2. Contractionary Fiscal Policy (to the right) Shifters of Supply of Loanable Funds CORRECT ANSWER 1. Incentive to Save 2. Mon...

aggregate demand curve CORRECT 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 CORRECT ANSWER a curve defining the relationship between real production and price level. business cycles CORRECT ANSWER fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus CORRECT ANSWER the differen...

AP Macro Unit 3 Questions and Answers Solved 100% Correct

aggregate demand curve - correct 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 - correct answer a curve defining the relationship between real production and price level. business cycles - correct answer fluctuations in real GDP around the trend value; also called economic fluctuations. consumer surplus - correct answer the ...

What is the most fundamental issue that economics addresses? - correct answer Use of scarce resources Inflation occurs when there is a sustained increase in - correct answer average price level An increase in spending in an economy will cause a multiplied increase in GDP because - correct answer consumption increases as income increases A contraction in the money supply will most likely change the nominal interest rate and aggregate demand in what way in the short run? - correct ...