AP Macro Unit 1 review

Quiz
•
Social Studies
•
12th Grade
•
Medium
Scott Ruane
Used 163+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Allie is shopping when she finds a pair of running shoes priced at $90. When Allie uses her debit card to pay, it is declined because her balance is insufficient to cover the cost of the running shoes. Allie’s situation best illustrates which economic concept?
Opportunity cost
Scarcity
Trade-offs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following contributes to the economic problem of scarcity?
Resources have alternative uses.
Resources are unlimited.
Human wants are limited.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following illustrates the effect of a decrease in an economy’s resources using a production possibilities curve (PPC)?
The economy’s PPC will shift outward and to the right.
The economy’s PPC will shift inward and to the left.
The economy’s PPC will remain the same.
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A city government received a $1 million grant to build swimming pools and skating rinks for youth. Based on the data provided in the graph, what is the opportunity cost of building one swimming pool?
0.50 skating rink
2 skating rinks
2 swimming pools
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The shape of a PPC illustrates the type of opportunity costs involved in production. What type of costs do PPC1 and PPC2 illustrate?
PPC1 illustrates constant opportunity costs and PPC2 illustrates increasing opportunity costs.
PPC1 illustrates increasing opportunity costs and PPC2 illustrates decreasing opportunity costs.
PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs.
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Based on the data provided, which of the following terms of trade are mutually beneficial for the two countries?
1 ton of coffee for 3 trucks
1 ton of coffee for 4 trucks
1 ton of coffee for 5 trucks
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following describes the relationship between price and quantity demanded according to the law of demand?
Negative relationship, illustrated by a horizontal demand curve
Positive relationship, illustrated by a downward-sloping demand curve
Negative relationship, illustrated by a downward-sloping demand curve
Create a free account and access millions of resources
Similar Resources on Wayground
10 questions
Equilibrium

Quiz
•
12th Grade
10 questions
Demand & Supply

Quiz
•
11th - 12th Grade
20 questions
ECON - Unit 3 Practice Test

Quiz
•
12th Grade
15 questions
Determinants of Demand

Quiz
•
9th - 12th Grade
15 questions
Demand & Law of Demand

Quiz
•
9th - 12th Grade
15 questions
Unit 2 Microeconomics

Quiz
•
12th Grade
10 questions
1.5 & 1.6 - Supply and Market Equilibrium

Quiz
•
9th - 12th Grade
18 questions
Economics: Supply an Demand

Quiz
•
9th - 12th Grade
Popular Resources on Wayground
18 questions
Writing Launch Day 1

Lesson
•
3rd Grade
11 questions
Hallway & Bathroom Expectations

Quiz
•
6th - 8th Grade
11 questions
Standard Response Protocol

Quiz
•
6th - 8th Grade
40 questions
Algebra Review Topics

Quiz
•
9th - 12th Grade
4 questions
Exit Ticket 7/29

Quiz
•
8th Grade
10 questions
Lab Safety Procedures and Guidelines

Interactive video
•
6th - 10th Grade
19 questions
Handbook Overview

Lesson
•
9th - 12th Grade
20 questions
Subject-Verb Agreement

Quiz
•
9th Grade
Discover more resources for Social Studies
40 questions
Algebra Review Topics

Quiz
•
9th - 12th Grade
19 questions
Handbook Overview

Lesson
•
9th - 12th Grade
62 questions
Spanish Speaking Countries, Capitals, and Locations

Quiz
•
9th - 12th Grade
20 questions
First Day of School

Quiz
•
6th - 12th Grade
6 questions
Maier - AMDM - Unit 1 - Quiz 1 - Estimation

Quiz
•
12th Grade
21 questions
Arithmetic Sequences

Quiz
•
9th - 12th Grade
21 questions
9th Grade English Diagnostic Quiz

Quiz
•
9th - 12th Grade
7 questions
Characteristics of Life

Interactive video
•
11th Grade - University