AP Macroeconomics Practice Test 4

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Question 12 questions

Time 14 minutes

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1. In order to go from national income to GDP, one must

2. Which of the following creates the trade-offdepicted by the Phillips curve?

3. The natural rate of unemployment

4. According to Say's law,

5. A budget deficit exists when

6. The money supply will increase as a result of which of the following?

7.

According to the aggregate expenditure graph above, what is the value of the expenditure multiplier?

8. A dark room technician who develops film into photographs loses his job because few people use film cameras any more. This is an example of which of the following?

9. Country A has a current account surplus; this means that

10. Which of the following is the most likely to be a deterrent to growth in the economy?

11. The domestic purchasing power of a currency

12. Julia would spend $30 per week even if she made no income. Her weekly income is $1,000 and her marginal propensity to consume is 0.5. How much does Julia save per week?