AP Macroeconomics Unit 3

AP Macroeconomics Unit 3

12th Grade

60 Qs

quiz-placeholder

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AP Macroeconomics Unit 3

AP Macroeconomics Unit 3

Assessment

Quiz

Specialty

12th Grade

Medium

Created by

Mr. Woodward

Used 449+ times

FREE Resource

60 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is true if the production possibilities curve is a curved line concave to the origin?
Resources are perfectly substitutable between the production of the two goods.
 It is possible to produce more of both products.
Both products are equally capable of satisfying consumer wants.
As more of one good is produced,more and more of the other good must be given up.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes aggregate supply?
A schedule indicating the level of real output that will be produced at each possible price level
A schedule indicating the level of real output that will be purchased at each possible price level
A schedule showing the trade-off between inflation and unemployment
A schedule showing the relationship between inputs and outputs

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The short-run aggregate supply curve will shift to the right when
energy prices increase
government regulation increases
prices of inputs decrease
productivity rates decrease

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The long-run aggregate supply curve will shift to the right when

foreign exports increase

government spending increases

investment increases

consumption increases

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A rightward shift in the aggregate demand curve with a horizontal aggregate supply curve will cause employment and the price level to change in which of the following ways?
Increase Employment; Increase Price Level
Increase Employment; No Change to Price Level
No Change to Employment, Increase Price Level
Increase Employment; Decrease Price Level

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An increase in labor productivity would most likely cause real gross domestic product and the price level to change in which of the following ways
Increase Real GDP; Increase Price Level
Increase Real GDP; Decrease Price Level
Decrease Real GDP; Increase Price Level
Decrease Real GDP; Decrease Price Level

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If Mr. Woodward's disposable income increases from $600 to $650 and her level of personal consumption expenditures increase from $480 to $520, you may conclude that her marginal propensity to

consume is 0.8

consume is 0.4

save is 0.8

save is 0.4

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