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These problem sets are handouts that you can give to students to ensure they know the material required on the AP Macro Exam.
Unit 1 Basic Economic Concepts (9 Problem Sets, 17 pages)
Normative vs Positive, Macro vs Micro, Opportunity Cost, Production Possibilities Frontiers, Increasing vs Constant Opportunity Costs, Adaptable vs Unadaptable Goods, Comparative and Absolute Advantage, Input vs Output Questions, Demand Practice, Supply Practice, Supply and Demand, Double Shifting, Elasticity , Inelastic, elastic, unit elastic, perfectly elastic, perfectly inelastic, elasticity coefficient
Unit 2 Measuring the Economy (7 Problem Sets, 10 pages)
Nominal GDP, Real GDP, Per Capita GDP, GDP Deflator, Real vs Nominal, Components of GDP, Included not included, Unemployment Rate, Labor Force Participation Rate, Labor Force, Natural Rate of Unemployment, Frictional, Structural, Cyclical, Consumer Price Index, Unanticipated Inflation, Calculating CPI
Real vs Nominal Interest Rates, Quantity Theory of Money
Unit 3 AD, AS, and Fiscal Policy (5 Problem Sets, 10 pages)
Aggregate Demand Shifters, Aggregate Supply Shifters, AD-AS &, Phillips Curve Short Run-Long Run, Spending Multiplier, Taxing Multiplier, Graphing Practice, Inflationary and Recessionary Gaps, Long Run Equilibrium
Unit 4 Monetary Policy (6 Problem Sets, 10 pages)
Monetary Policy, Money Supply, Investment, Interest Rates, Inflation, Functions of Money, Commodity Money, Fiat Money, Time Value of Money, Present Value, Future Value, Bank Balance Sheets, Liablities, Assets, Reserve Requirement, Required Reserve Ratio, Required Rerves, Excess Reserves, Measures of Money Supply, M1, M2, Money Market, Money Supplied, Money Demanded, Time Value of Money, Open Market Operations, Bonds, Phillips Curve, AD-AS Model, Recessionary Gap, Inflationary Gap, Discount Rate, Federal Funds Rate, Unemployment Rate, Loanable Funds, Supply of Loanable Funds, Demand for Loanable Funds
Unit 5 FOREX (4 Problem Sets, 8 pages)
Balance of Payments, Balance of Trade, Current Account, Financial Account, Foreign Exchange, Shifters of Foreign Exchange, Appreciation and Depreciation, Calculating Currency Exchange Rates, Trade Deficit, Trade Surplus