My Reports highlights progress for every student and class across AP units. a. A) there are a large number of rival firms producing very similar products 27 terms. The AP Microeconomics exam includes 60 MCQs and 3 FRQs. Which of the following is an example of a scarce factor of production? C) Art will charge the same prices, and Zeb will lower prices. Explain your reasoning.Based solely on the information given, do you have reason to question the results of the following hypothetical studies? The AP Microeconomics framework is organized into six commonly taught units of study that provide one possible sequence for the course. D) Jan's real wages are equal to the nominal wages. natelewis_ English Vocab Final. D) Both Amy's and Sam's will charge the same prices. 2011 Real GDP in 1984 dollars = 2011 Nominal GDP/GDP deflator in hundredths = $15 billion/(200/100) or $7.5. The letters in the graph represent the enclosed areas. C. dividend payout ratio 3.8 Multiple Choice Questions. answer choices. D) The dominant strategy for Zeb's is to charge the same prices. government regulation increases. The first section has 60 multiple-choice questions (MCQs). Based on the information and assuming Amy's and Sam's do not cooperate, which action will each pursue? Unit 1 Progress Check - AP Macro. track to see which students are watching each video in each class. Liza0554. Model economic situations using graphs or visual representations. This is the core document for this course. Determine the branding strategy that Campbell's and the NFL used. Speculation ensued among researchers and government officials about what caused the die-off. The first entry in each cell indicates the profits for Art, and the second entry in each cell indicates the profits for Zeb. The relatively healthy breeding population on the Chambal is precisely why the massive 2008 die-off here caused such alarm. : They dont currently have anything for Macroeconomics, but this site features chapter outlines from Barrons review book. Ready to practice for you next free response exam? C) The market for factors of production connects spending by firms to household income. On 4/22 EARTH DAY!! D) Consumer surplus and deadweight loss will be zero because all the surplus will be transferred to producer surplus. Based solely on the information given, do you have reason to question the results of the following hypothetical studies? E) The average total cost decreases throughout the entire effective demand. The framework specifies what students must know, be able to do, and understand, with a focus on big ideas that encompass core principles and theories of the discipline. In 1984 nominal GDP was $10 billion. Pollination, decomposition, and water purification. Nominal GDP = Real GDP GDP Deflator, Suppose Miguel wants to know the value of real gross domestic product (GDP) for 2011 in terms of the base year 1984 dollars. When the actual inflation rate exceeds the expected inflation rate, lenders will receive lower real interest rates than expected. D) The dominant strategy for Zeb's is to charge the same prices. Use the following list to make sure you are prepared for any topic that may show up on your particular exam! The graph shows the cost and revenue curves for a monopoly that produces teddy bears. If the price of an apple is $0.50, how many. In years with less rainfall, there are fewer grasses to feed on and the finches rely more on seeds for food. What type of unemployment describes the situation of factory workers displaced by automation? Yukai Resort in the famous Gero Onsen hot spring area of Japan is part of a luxury Japanese hotel chain which performs lean hotel . Why do you think the government considers as unemployed only those who are without employment but are looking for work? unit 4 macro. Excerpted from the AP Microeconomics Course and Exam Description, the Course at a Glance document outlines the topics and skills covered in the AP Microeconomics course, along with suggestions for sequencing. The collapse of local fisheries, because of the damage to coral reefs from ocean acidification. C) Amy's will charge the same prices, and Sam's will lower prices. E) the horizontal axis, Which of the following Gini coefficients indicates that a country has an equal distribution of income? A) a large number of firms What Units are on the 2022 AP Microeconomics Exam? Test. A) $5 billion View Answer Key Unit 5 Progress Check MCQ.pdf from ECON 1302 at The Woodlands High School. for two generations under three different water temperatures, up to 3 degrees Celsius warmer than current-day ocean temperatures. When a manufacturer of pain medication reduced the price of the medication by 30%, profits declined by almost exactly 30%. B) Nominal GDP uses current prices to measure the value of final output, while real GDP uses constant prices. Same Prices $100; $700 $400; $500 RowenAntony5. The percentage of moths with light colored bodies and the percentage of moths with dark bodies is shown on the graph above. 27 terms. If unregulated, the monopolist operates to maximize its profit. Unit guides clearly lay out suggested thematic course content and skills and recommend sequencing and pacing for them throughout the year. AP Calculus BC Scoring Guide Unit 3 Progress Check: FRQ Part B Copyright 2017. In this study, when both parent and offspring experienced the same elevated water temperatures, responsive changes . D) mutual interdependence Art Lower Prices $300; $400 $600; $200 21 terms. AP Macroeconomics: Unit 3 Progress Check MCQ, Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. I would like to acknowledge the work of Dick Brunelle and Steven Reff from Reffonomics.com whose work inspired many of the review games on this site. Correct. Lower Prices Same Prices The die-off . An increase in the price of cameras results in a decrease in the demand for film. course to see if you truly understand each of the units: Examples of Short Free-Response Questions, For more examples of previous FRQs, check out the College Board archive for, Get FRQs with included sample responses with a license to, To stay up to date and adjust your study plan accordingly, read our. When a customer's need for a product is not urgent, demand tends to be. 21 terms. Explain. C) 2013 This is the core document for this course. 12 terms. The letters in the graph represent the enclosed areas. What is the firm's profit-maximizing quantity of output? Based on the theory of island biogeography, which of the following best predicts the effect of the introduction of an invasive species on Easter Island compared to Madagascar? 22 terms. Each owner has the choice to lower prices for early bird customers or keep prices the same. D) there are a small number of rival firms producing more differentiated products AP Microeconomics Test. ea1104. C) Myron gains, while the bank loses. AP Macroeconomics Scoring Guide Unit 2 Progress Check: MCQ 1. They agreed to a 3 percent per year increase in pay over the 3 years. i. C) Jan's real wage is 25% higher because the CPI increased from 100 to 125. The 2022 AP Microeconomics exam will be given in person using paper-and-pencil tests. 27 terms. Ill be adding new videos as often as I can, so check back regularly! Which statement is true about the circular flow diagram Birds prey on the moths that are easily visible on trees. AP Macroeconomics Unit 2 Progress Check: MCQ. katelyn-7-AP Macroeconomics Unit 3 Progress Check. Lower Prices Same Prices You can: Learn how to get started in AP Classroom. A) Both Amy's and Sam's will lower prices. Same Prices $100; $700 $400; $500 Even if the five banks provided the same effective annual rate, would a rational investor be indifferent between the banks? Correct. Which of the following is true of a natural monopoly? The purchase price is $1,100,000. Share. B) $2.00 Learning Opportunities for AP Coordinators. Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. If you have any questions, ask them in the video comments. apples would Johnny have to consume before he considers purchasing another orange? A team of ecologists are studying four different ecosystems with varying levels of biodiversity. This playlist includes 122 videos breaking down many core topics covered on both the AP Macroeconomics and AP Microeconomics exams. Does a firm's price equal marginal cost in the short run, in the long run, or both? Based on the theory of island biogeography, which of the following islands would most likely have the highest number of species living on it? Determine outcomes of specific economic situations. Which of the following describes the most immediate effect if an invasive generalist species is introduced to the island? Suppose that last year is the base year for the Consumer Price Index (CPI). If, The graph above shows the cost and revenue curves for a natural monopoly that provides electrical power to the town of Fanaland. Based on the information and assuming Amy's and Sam's do not cooperate, which action will each pursue? C) Art will charge the same prices, and Zeb will lower prices. I would also like to thank Francis McMann, James Chasey, and Steven Reff who taught me how to be an effective AP Economics teacher at AP summer institutes; as well as the countless high school teachers, and college professors from the AP readings, economics Facebook groups, and #econtwitter. define resources and the cause(s) of their scarcity, define how resource allocation is influenced by the economic system adopted by society, define (using graphs as appropriate) the production possibilities curve (PPC) and related terms, explain (using graphs as appropriate) how the production possibilities curve (PPC) illustrates opportunity costs, trade-offs, inefficiency, efficiency, and economic growth or contraction under various conditions, calculate (using data from PPCs or tables as appropriate) opportunity cost, define absolute advantage and comparative advantage, determine (using data from PPCs or tables as appropriate) absolute and comparative advantage, explain (using data from PPCs or tables as appropriate) how specialization according to comparative advantage with appropriate terms of trade can lead to gains from trade, calculate (using data from PPCs or tables as appropriate) mutually beneficial terms of trade, define opportunity cost and explain or calculate the opportunity costs associated with choices, explain a decision by comparing total benefits and total costs (using a table or a graph when appropriate), calculate total benefits and total costs (using a table or graph where appropriate), define the key assumptions of consumer choice theory, explain (using a table or graph as appropriate) how a rational consumers decision making involves the use of marginal benefits and marginal costs, calculate (using a table or a graph when appropriate) how a rational consumers decision making involves the use of marginal benefits and marginal costs, define marginal analysis and related terms, explain a decision using marginal analysis (using a table or a graph when appropriate), define (using graphs as appropriate) key terms and factors related to consumer decision making and the law of demand, explain (using graphs as appropriate) the relationship between price and quantity demanded and how buyers respond to incentives and constraints, explain (using graphs as appropriate) buyers responses to changes in incentives and constraints, define (using graphs as appropriate) the law of supply, explain (using graphs as appropriate) the relationship between price and quantity supplied, explain (using graphs as appropriate) producers (sellers) responses to changes in incentives and technology, explain (using graphs where appropriate) measures of elasticity and the impact of a given price change on total revenue or total expenditure, calculate (using data from a graph or a table as appropriate) measures of elasticity, define (using graphs as appropriate) market equilibrium, consumer surplus, and producer surplus, explain (using graphs as appropriate) how equilibrium price, quantity, consumer surplus, and producer surplus for a good or service are determined, calculate (using data from a graph or table as appropriate) areas of consumer surplus and producer surplus at equilibrium, explain (using graphs where appropriate) how changes in underlying conditions and shocks to a competitive market can alter price, quantity, consumer surplus, and producer surplus, calculate (using data from a graph or table as appropriate) changes in price, quantity, consumer surplus, and producer surplus in response to changes in market conditions or market disequilibrium, define forms of government price and quantity intervention, explain (using graphs where appropriate) how government policies alter consumer and producer behaviors that influence incentives and therefore affect outcomes, calculate (using data from a graph or table where appropriate) changes in market outcomes resulting from government policies, explain (using graphs where appropriate) how markets are affected by public policy related to international trade, calculate (using data from a graph or table as appropriate) changes in market outcomes resulting from public policy related to international trade, Unit 3: Production, Cost, and the Perfect Competition Model, define (using graphs where appropriate) key terms and concepts relating to production and cost, explain (using graphs where appropriate) how production and cost are related in the short run and long run, calculate (using data from a graph or table as appropriate) the various measures of productivity and short-run and long-run costs, explain how firms respond to profit opportunities, define (using graphs or data as appropriate) the profit-maximizing rule, explain (using a graph or data as appropriate) the profit-maximizing level of production, explain (using graphs or data where appropriate) firms short-run decisions to produce positive output levels, or long-run decisions to enter or exit a market in response to profit-making opportunities, define (using graphs as appropriate) the characteristics of perfectly competitive markets and efficiency, explain (using graphs where appropriate) equilibrium and firm decision making in perfectly competitive markets and how prices in perfectly competitive markets lead to efficient outcomes, calculate (using data from a graph or table as appropriate) economic profit (loss) in perfectly competitive markets, define (using graphs where appropriate) the characteristics of imperfectly competitive markets and inefficiency, explain (using graphs where appropriate) equilibrium, firm decision making, consumer surplus, producer surplus, profit (loss), and deadweight loss in imperfectly competitive markets and why prices in imperfectly competitive markets cannot be relied on to coordinate the actions of all possible market participants and can lead to inefficient outputs, calculate (using data from a graph or table as appropriate) areas of consumer surplus, producer surplus, profit (loss), and deadweight loss in imperfectly competitive markets, define (using tables as appropriate) key terms, strategies, and concepts relating to oligopolies and simple games, explain (using tables as appropriate) strategies and equilibria in simple games and the connections to theoretical behaviors in various oligopoly market and non-market settings, calculate (using tables as appropriate) the incentive sufficient to alter a players dominant strategy, define (using graphs where appropriate) key terms and concepts relating to factor markets, explain (using graphs where appropriate) the relationship between factors of production, firms, and factor prices, calculate (using data from a graph or table where appropriate) the marginal revenue product and marginal resource cost, explain (using graphs where appropriate) firms and factors responses to changes in incentives and constraints, define (using graphs as appropriate) the characteristics of perfectly competitive factor markets, explain (using graphs where appropriate) the profit-maximizing behavior of firms buying labor (with other inputs fixed) in perfectly competitive markets, calculate (using data from a graph or table where appropriate) measures representing the profit-maximizing behavior of firms buying labor (with other inputs fixed) in perfectly competitive markets, define (using graphs as appropriate) the characteristics of monopsonistic markets, explain (using graphs where appropriate) the profit-maximizing behavior of firms buying labor (with other inputs fixed) in monopsonistic markets, calculate (using data from a graph or table where appropriate) measures representing the profit maximizing behavior of firms buying labor (with other inputs fixed) in monopsonistic markets, Unit 6: Market Failure and the Role of Government. A range of factors, including disease, famine, or in the case of this research, heat stress, can stimulate these subtle changes. In a rapidly changing climate, the decline of animal populations is a very real concern. AP Macroeconomics Unit 2 Progress Check: MCQ. ECON. The percentage of dark colored moths increased in the population and the percentage of light-colored moths decreased in the population. Free-Response Question and Scoring Archive. B) there are a large number of rival firms producing more differentiated products The research team set up tanks of salt water with three different pHpH levels: today's current average Puget Sound pHpH, the predicted average 5050 years from now, and the predicted average 100100 years in the future. Same Prices $100; $700 $400; $500 B) 2010 A) a large number of firms Each restaurant has the choice to lower prices for early bird customers or keep prices the same. The 2022 AP Microeconomics exam will cover topics from across all 6 units from the course and exam description. Would you rather start with one penny ($0.01)(\$ 0.01)($0.01) and double your wealth every day or start with $1000\$ 1000$1000 and double your wealth every two days (assuming you want to get rich in the long run)? Disinflation refers to a slowdown in the rate of increase in the consumer price index or inflation. Would you rather start with one penny ($0.01)(\$ 0.01)($0.01) and double your wealth every day or start with one dime ($0.10)(\$ 0.10)($0.10) and double your wealth every five days (assuming you want to. practice questions for hw ap microeconomics unit supply, demand and consumer choice practice questions the demand curve for normal good slopes down for which of. the process of confirming members of the president's Cabinet can lead to conflict with members of the Senate. The short-run aggregate supply curve will shift to the right when. Q. Tamra Carl, York Community High School, Elmhurst, Ill. Sonia Dalmia, Grand Valley State University, Joyce Jacobsen, Hobart and William Smith Colleges, Gerry Simons, Grand Valley State University, Rebecca Stein, University of Pennsylvania. C. Dominos Pizza. Lexie_Vanderloo. How would each group be affected by an actual inflation rate of 4% next year? Fun fact, before Albert, we were called Learnerator. E) 0, The higher wages college graduates receive are primarily due to B. dividend yield Which of the following best describes the change in Antarctic temperature from about 440,000 years ago to about 340,000 years ago? D) Consumer surplus equals area (a+b), producer surplus equals area (c+d), and deadweight loss equals area (e). These committees, made up of an equal number of college faculty and experienced secondary AP teachers from across the country, are essential to the preparation of AP course curricula and exams. Fish were placed in a holding tank and exposed to the smell of salmon-skin extract, which indicates a predator attack and usually prompts the fish to hide or swim away. Based on the Understanding by Design (Wiggins and McTighe) model, the course framework provides a clear and detailed description of the course requirements necessary for student success. They exposed juvenile coho salmon to these three different pHpH levels for two weeks. When is the 2022 AP Microeconomics exam? Video tutorials reviewing concepts can be helpful to supplement your learning and review. A) a horizontal line These videos are still very much relevant today. E) Neither owner has a dominant strategy. C) reduce monopoly profits Recent flashcard sets. The question bank is a searchable database of real AP questions. If so, please click the button below to share it on Twitter, or e-mail this link to your friends! Its low habitat diversity indicates that Ecosystem C most likely has a low number of specialist species and few species that utilize large territories. His local print shop charges $91.50 for the first 200 copies and$420 for every 100 additional copies. How long will it take for the population to double? A) Workers would be better off, and the employers would be worse off. The next generation appeared to be advantaged by parental exposure to elevated temperatures. Which of the following best identifies the author's claim? Each owner has the choice to lower prices for early bird customers or keep prices the same. The economy of Fisherland is at full employment for which year in the above diagram? Lower Prices Same Prices And conversely, the money that the bank pays back to Myron when the certificate of deposit matures is worth more than that money was worth during the time the bank had this money. C) standardized products After two weeks, the team ran a series of tests to see whether the fishes' sense of smell was affected. Based on the graph above, which of the following tree species would be the predominant species found during the intermediate stage of succession? You plan to make a series of depositsannually for A, semiannually for B, quarterly for C, monthly for D, and daily for Ewith payments beginning today. Your students can look up credit and placement policies for colleges and universities on theAP Credit Policy Search. D) the vertical axis Zeb AP Psychology Practice Test: Sensation & Perception pdf download. D. dividend portion AP Psychology Practice Test: Biological Bases of Behavior pdf download. Progress checks help you gauge student knowledge and skills for each unit through: multiple-choice questions with rationales explaining correct and incorrect answers, and; free-response questions with scoring guides to help you evaluate student work. D) 0.2 Simulate how different MCQ and FRQ scores translate into AP scores. E) There is insufficient information to answer the question. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. What is the annuitys FV? Which of the following best explains why individuals and societies must make choices when presented with. below. ECON 202. Question 12. The above payoff matrix illustrates the daily profit for two restaurants, Amy's and Sam's. The AP Program is unique in its reliance on Development Committees. Download free-response questions from past exams along with scoring guidelines, sample responses from exam takers, and scoring distributions. A schedule showing the relationship between inputs and outputs. If the number of sets of 100 resumes is represented by x, express the cost of the resumes, r(x), as a piecewise function of x. It is the only population large enough to be stable. Based on the information, does either firm have a dominant strategy? bircanaydn1206. The loans annual interest rate is 8%, and it requires four equal end-of-year payments. Uni 3 Progress Check: MCQ. f. Find the PV of an ordinary annuity that pays $1,000 each of the next 5 years if the interest rate is 15%. RowenAntony5. 13 terms. Given the labor market data above, what are the labor-force participation rate (LFPR) and the unemployment rate (UR) ? Students cultivate their understanding of the principles that apply to the functions of individual economic decision-makers by using principles and models to describe economic situations and predict and explain outcomes with graphs, charts, and data as they explore concepts like scarcity and markets; costs, benefits, and marginal analysis; production choices and behavior; and market inefficiency and public policy. Unit 5 Progress Check: MCQ. B) Disinflation c. Find the PV of$1,000 due in 5 years if the discount rate is 10%. Which of the following is true about gross domestic product (GDP)? "We reared spiny chromis damselfish . j. Each restaurant has the choice to lower prices for early bird customers or keep prices the same. Finches with larger beaks were more likely to survive in 1980 because they were able to feed primarily on seeds and nuts during the drought. Images. A) There is a recessionary gap. B) Art will lower prices, and Zeb will charge the same prices. AP Psychology Downloads. A) prevent the entry of firms into imperfectly competitive markets Among the largest crocodilians in the world, gharials have long, heavy bodies and relatively small heads with bulging eyes and skinny snouts. AP Microeconomics Course and Exam Description.