AP Macroeconomics Practice Test 11

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Question 12 questions

Time 14 minutes

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1. Which of the following is an example of capital as an economic resource?

2. Question below is based on the production possibilities of two nations that can produce both crepes and paper.

Which of the following statements is true of these production possibilities?

3. Using Figure below , which of the following movements would be described as economic growth?

4. Suppose DVD players are a normal good and are exchanged in a competitive market. All else equal, an increase in household income will

5. An American firm moves a manufacturing plant from the United States to Brazil. How will this affect gross domestic product (GDP) in the United States and in Brazil?

6. For years you work as a grocery checker at a supermarket, and one day you are replaced by self-serve checkout stations. What type of unemployment is this?

7. If the consumer price index (CPI) increases by 2 percent and your nominal income increases by 8 percent, your real income has approximately

8. To deflate nominal gross domestic product (GDP), you must

9. A stronger stock market is likely to cause which of the following changes in the consumption function and aggregate demand?

CONSUMPTION FUNCTION     AGGREGATE DEMAND

10. An increase in corporate optimism will have which of the following effects in the market for loanable funds?

11. If the economy is operating below full employment, which of the following will have the greatest positive impact on real gross domestic product?

12. Suppose the economy is operating beyond full employment. Which of the following is true at this point?