By Eric Dodge
For the multiple million scholars taking the AP assessments every one year
* Boxed prices supplying recommendation from scholars who've aced the assessments and from AP academics and school professors * pattern exams that heavily simulate genuine checks * evaluation fabric in response to the contents of the latest exams * Icons highlighting vital proof, vocabulary, and regularly requested questions * web content and hyperlinks to precious on-line try out assets, in addition to writer email addresses for college students with follow-up questions * Authors who're both AP direction teachers or examination builders
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Extra resources for 5 Steps to a 5 AP Microeconomics and Macroeconomics
The substitution effect is larger than the income effect. A. the total utility from eating cookies is equal to zero. B. the substitution effect outweighs the income effect from eating cookies. C. the ratio of marginal utility divided by total utility is equal to one. D. the marginal utility from eating the next cookie is zero. E. the marginal utility from eating the next cookie is increasing at a decreasing rate. 12. In the short run, a firm employs labor and capital to produce gadgets. If the annual price of capital increases, what will happen to the shortrun cost curves?
23. 28. 4. 9. 14. 19. 24. 29. 5. 10. 15. 20. 25. 30. Macroeconomics—Section I 1. 6. 11. 16. 21. 26. 2. 7. 12. 17. 22. 27. 3. 8. 13. 18. 23. 28. 4. 9. 14. 19. 24. 29. 5. 10. 15. 20. 25. 30. 24 • What You Need to Know About the AP Economics Exams DIAGNOSTIC EXAM: AP MICROECONOMICS Section I Time—35 Minutes 30 Questions For the following multiple-choice questions, select the best answer choice and record your choice on the answer sheet provided. 1. Scarcity is best defined as A. the difference between limited wants and limited economic resources.
Fiscal and monetary policies 1. Demand-side effects 2. Supply-side effects 3. Policy mix 4. Government deficits and debt B. Inflation and unemployment 1. Types of inflation a. Demand-pull inflation b. Cost-push inflation 2. The Phillips Curve: short run versus long run 3. Role of expectations VI. Economic Growth and Productivity A. Investment in human capital B. Investment in physical capital C. Research and development, and technological progress D. Growth policy VII. Open Economy: International Trade and Finance A.
5 Steps to a 5 AP Microeconomics and Macroeconomics by Eric Dodge