AP Macro Final Exam Review

AP Macro Final Exam Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

Used 1+ times

FREE Resource

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119 questions

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1.

FLASHCARD QUESTION

Front

What does point Y represent on the PPC?

Media Image

Back

Unattainable / impossible

2.

FLASHCARD QUESTION

Front

What does point B represent?

Media Image

Back

Productive efficiency

3.

FLASHCARD QUESTION

Front

Which point represents "resources are not being used efficiently, or resources are being wasted or idle"? Options: Point A, Point Y, Point X, All of the above

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Back

Point X

4.

FLASHCARD QUESTION

Front

The opportunity cost of a good is

Back

the alternative goods forgone.

5.

FLASHCARD QUESTION

Front

What is the opportunity cost of the Welch family's decision to spend money on a swimming pool instead of a vacation to the Grand Canyon?

Back

vacation

6.

FLASHCARD QUESTION

Front

Countries will export goods and services that they can produce at lower costs. This is called —

Back

comparative advantage

7.

FLASHCARD QUESTION

Front

The basis of trade based from the lowest opportunity cost is considered as ____.

Media Image

Back

Comparative Advantage

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