
AP Maco Unit 1
Authored by Patricia White
Social Studies
9th Grade - University

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46 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
An economist would probably state that in a market economy, prices are generally determined by the interaction between
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is likely to increase the demand for peanut butter?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In economics, a shortage of a product occurs when
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The US can produce 200 airplanes or 400 trucks. Japan can produce 300 trucks or 100 airplanes.
Which country has the comparative advantage in producing trucks and what is their opportunity cost?
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The US can produce 200 airplanes or 400 trucks. Japan can produce 300 trucks or 100 airplanes.
Which country has the comparative advantage in producing airplanes and what is their opportunity cost?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Suppliers often reduce prices because they
have a shortage of products
have a surplus of products to sell
want decrease consumer demand
want to increase the product supply
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When a point lies inside of the PPF it can be said that
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