AP Macroeconomics

Module 1

D:

Module 5

Market A group of producers and consumers who exchange a good or service for payment. Com...

Warm-Ups

Warm-up One: What does scarcity mean? Something is scarce when it is desirable and limited. Sca...

Module 6

Supply The amount of a good or service people are willing to sell at a specific price. ...

Module 7

Price Floor An established price which is above the equilibrium. Results in a surplus. Calculat...

Module 10-11

National Accounts National accounts are responsible for keeping track of the flow of money among...

Module 12

Labor Force The sum of employed, and unemployed. Employed Working part time or full time that ...

Module 13

Types of Unemployment 1. Frictional Unemployment Workers engaged in job search. 2. Structural ...

Module 14

Inflation General rise in prices over time. Inflation has an effect on wages, income, and borro...

Module 15

Price Index Measures the cost of purchasing a market basket. Calculate the price of market ba...

FRQs (Mod. 11-15)

Which statement is true about the circular flow diagram of an economy? ...

Module 16-17

Multiplier When there is an increase in the CIGXn, it is going to have a multiplying effect on t...

Module 18-19

Short-run Aggregate Supply Curve Upward sloping because nominal wages are sticky. Thus, a h...

Module 20-21

Automatic stabilizers will reduce the multiplier and swings in the business cycle. Non-discr...

Module 22-23

Assets, Wealth, & Liabilities A household’s wealth is the value of its accumulated savings...

Module 24-27

Time Value of Money \( FV = PV\times(1+i)^n\) \(PV = \frac{FV}{(1+i)^n}\) Where: FV = Futur...

Module 30-41

Budget Balance Difference between what the government spends and what the government brings in. ...