AP Macroeconomics Section 1 Exam Review

AP Macroeconomics Section 1 Exam Review

12th Grade - University

31 Qs

quiz-placeholder

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AP Macroeconomics Section 1 Exam Review

AP Macroeconomics Section 1 Exam Review

Assessment

Quiz

Other, Other Sciences

12th Grade - University

Medium

Created by

Elizabeth C.

Used 37+ times

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31 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a typical business cycle model, which stage immediately follows a trough?
Expansion
Contraction/recession
Peak

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The factors of production is / are ___________ needed to produce goods and services.
things
resources
energy
people

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If you live on a fixed income, how will you be affected by inflation.
You are hurt because your purchasing power has decreased.
You are helped because your purchasing power has increased.
You are helped because interest rates rise.
You are hurt because interest rates rise.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would NOT be considered part of the labor force?
Tyler, a banker who feels he is overqualified for his job.
Savana, who is unemployed but has attended  three job interview in the last month.
Ricky, who has a part-time job but wants a full-time job.
Garrett, a stay-at-home dad.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

During a recession, which of the following is likely to occur?
an increase in real wages
an increase in production
and increase in the GDP growth rate
an increase in the unemployment rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the size of the Labor Force?
Unemployed (Looking for job) = 20
Retired = 5
Prison = 2
School (full time, not looking for job) = 10
Employed = 180
Unemployed (not looking for job) = 20
180
200
220
237

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The unemployment rate is calculated as the number of
unemployed persons divided by number of employed persons
persons in the labor force divided by the number of unemployed
unemployed divided by size of the labor force
employed persons divided by number of unemployed persons

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