
AP MACRO FINAL EXAM
Authored by Charlotte Anderson
Social Studies
10th Grade
Used 3+ times

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63 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a mixed economy, what to produce and how much to produce are determined by
A private planning agency
An international planning agency
Markets and the government
Large corporations and the government
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The major difference between real and nominal gross domestic product is that real GDP
Excludes imports
Is adjusted for price-level changes using a price index
Measures only final goods and services that are consumed
Measures how successful we are with international trade
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements exemplifies the concept of structural unemployment
New entrants into the labor force have trouble finding jobs
Workers leave their current jobs to find better jobs
Workers are fired because consumers have reduced their total expenditures
Workers are fired because their skills are no longer in demand
4.
OPEN ENDED QUESTION
3 mins • 1 pt
Assume that for consumers, pears and apples are substitutes. It is announced that pesticides used on apples may be dangerous to consumers’ health. As a result, which of the following market changes is most likely to occur in the pear market?
Evaluate responses using AI:
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5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Federal budget deficits occur when
More money is being spent on entitlement programs than has been allocated
The Internal Revenue Service spends more than it collects in taxes in a given year
The federal government spends more than it collects in taxes in a given year
High levels of unemployment use up tax collections
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under which of the following conditions would consumer spending most likely increase?
Consumers have large unpaid balances on their credit cards
Consumers' wealth is increased by changes in the stock market
The government encourages consumers to increase their savings
Consumers believe they will not receive a pay increase next year
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Crowding out is best described as which of the following?
The decreases in full employment output caused by an increase in taxes
The decrease in consumption or private investment spending caused by an increase in government spending
The decrease in government spending caused by a decrease in taxes
The increase in the amount of capital inflow caused by the increase in government spending
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