AP Microeconomics Practice Test: Discipline of Economics

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Question 15 questions

Time 18 minutes

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1. Economics is a social science that

2. Macroeconomics focuses on

3. Given the table below what is the opportunity cost of wheat in France?

4. Given the table below, which statement is true?

5. Which of the following statements is positive?

6. The primary focus of microeconomics is

7. Economists use the term "capital" to mean

8. Land refers to

9. What you give up to pursue another alternative is known as

10. Given the following table,(combinations that can be produced using resources fully and efficiently)

the opportunity cost of apples is

11. Given the following table,(combinations that can be produced using resources fully and efficiently)

the opportunity cost of soup is

12. Production possibilities frontiers are concave to the origin because

13. When opportunity cost is constant across all production levels, the productions possibilities frontier is

14. When an economy produces a combination of goods that lies on the production possibilities frontier,

15. The law of increasing costs