The question bank is a searchable database of real AP questions. Master supply and demand in these Unit 2 AP Micro resources. AP Econ Micro Unit 6 Test. What are the variance and standard deviation for the number of people with at least a two-year college degree? The first entry in each cell indicates the profits for Amy's, and the second entry in each cell indicates the profits for Sam's. B) Disinflation B) $7.5 billion Find the PV and the FV of an investment that pays 8% annually and makes the following end-of-year payments.1,000iftheinterestrateis8, 0123$100$200$400\begin{matrix} Whats the Format of the AP Microeconomics Exam? U6 MCQ. An island off the coast of Africa contains a larger percentage of specialist species than generalist species. AP Calculus BC Scoring Guide Unit 3 Progress Check: FRQ Part B Copyright 2017. C) Nominal GDP measures how much output is produced within the borders of a country, while real GDP measures how much output is produced around the world by domestic companies. One difference between monopolistic competition and oligopoly is that firms in monopolistic competition are assumed to, B) act independently in setting price and output. D) This will harm borrowers with fixed-interest rate loans. the process of confirming members of the president's Cabinet can lead to conflict with members of the Senate. Roger is a graphic artist, so his resume is several pages long and includes an artistic portfolio. The first entry in each cell indicates the profits for Art, and the second entry in each cell indicates the profits for Zeb. E) The bank gains, while Myron remains unaffected. Which of the following can be concluded as a result of this transaction? ea1104. Although their rows of pointy teeth look menacing, they are specialized for catching and holding onto fish, and pose little danger to people. These videos are still very much relevant today. C) reduce monopoly profits Correct. B) there are a large number of rival firms producing more differentiated products C. Dominos Pizza. Based on the graph above, which of the following years postdisturbance did sweetgum experience the greatest biomass? illustrates the potentially catastrophic consequences that disruptions to water bodies can have on aquatic species that are close to the brink. B) Real GDP = GDP deflator/Nominal GDP The ability to smell is critical for salmon. Lower Prices Same Prices Explain your reasoning. By mid-January, the dead reptilessome the length of two tall men, lined up end to endnumbered in the dozens. . Art Lower Prices $300; $400 $600; $200 Then youve come to the right place! 62 terms. Which of the following is a Nash equilibrium? Unit 5 Progress Check: MCQ. What operations strategies are important at Girlfriend Collective? This is the core document for this course. that prepares students for advanced economics coursework. Expert AP teachers across the country can support your course virtually: Supplement your instruction with 30-minute videos on each unit hosted by college or university professors. D) there are a small number of rival firms producing more differentiated products Criticize the following D) control monopolies and maintain a competitive market environment 18 terms. Unit guides clearly lay out suggested thematic course content and skills and recommend sequencing and pacing for them throughout the year. Click on the question, try it out, then watch the review video to walk you through it! When the actual inflation rate exceeds the expected inflation rate, lenders will receive lower real interest rates than expected. Verified questions. find topic questions and practice exam questions, indexed by content and skills. Course & Exam Pages . If you deposit$5,000 in each bank today, how much will you have in each bank at the end of 1 year? Birds prey on the moths that are easily visible on trees. Section. A) discrimination 21 terms. Assuming the government of a country imposes a tariff on its imports of foreign goods, what is the likely effect on the country's currency in foreign exchange markets? Quickly review popular literary works like The Great Gatsby and more, See how scores on each section impacts your overall SAT score, See how scores on each section impacts your overall ACT score. assign to students before or after class to maximize time for discussion. AP at a Glance; Start and Expand Your AP Program; Explore AP by Role; AP 2022-23 School Year Timeline; AP Collaborations and Outreach; What AP Stands For; AP Data and Research; AP Courses & Exams. free time. AP resources are designed to support all students and teacherswith daily instruction, practice, and feedback to help cover and connect content and skillsin any learning environment. A firm with market power engages in price discrimination in order to, For the monopolistically competitive firm represented by the graph above, the allocatively efficient quantity of output is, A monopolistically competitive firm's demand curve will be least elastic if For more examples of previous FRQs, check out the College Board archive for AP Microeconomics. TESTS. AP Macroeconomics Unit 2 Progress Check: MCQ, Don Herrmann, J. David Spiceland, Wayne Thomas, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams. AP Microeconomics Exam Free-Response Questions and Scoring Information Archive. Correct. This check on presidential power illustrates that. PBS News Hour reported in 2014 that 39.4%39.4 \%39.4% of Americans between the ages of 25 and 64 have at least a two-year college degree (PBS website). The above payoff matrix illustrates the daily profit for two restaurant owners, Art and Zeb. e. Suppose Californias population is 36.5 million people and its population is expected to grow by 2% annually. U2 MCQ. The AP Microeconomics Exam includes two sections. Correct. Back in the day, we recorded walkthroughs of some of the past released FRQs to help students understand each question, piece-by-piece. A) $5 billion Images. Which of the following explains why imperfectly competitive markets are inefficient? E) Calculations of GDP include the unsold inventories of goods produced within the borders of the country. Answer Key Unit 4 Progress Check MCQ.pdf. As always, you have the flexibility to organize the course content as you like. When is the 2022 AP Microeconomics exam? Course Hero is not sponsored or endorsed by any college or university. C) on-the-job training On February 13, 2016, following the death of Supreme Court Justice Antonin Scalia, Senate Majority Leader Mitch McConnell issued a statement that the Supreme Court vacancy should be . Acidic water affects the salmon's ability to sense danger from attacking predators by their sense of smell. (a) Using the numerical values above, draw a correctly labeled graph of the. ap macro unit 3. jferr15. 22 terms. E) the horizontal axis, Which of the following Gini coefficients indicates that a country has an equal distribution of income? C) Amy's will charge the same prices, and Sam's will lower prices. kenken165. E) positive economic profit in the long run. The offspring's altered gene expression, also referred to as 'acclimation,' allowed them to maximize oxygen consumption and energy use." A) Both Amy's and Sam's will lower prices. By March, more than 110 of the skinny-snouted creatures had been found dead, most along a 30-kilometer (18-mile) stretch of river. E) Stagflation. The AP Microeconomics framework included in the course and exam description outlines distinct skills that students should practice throughout the yearskills that will help them learn to think and act like economists. What will the payments be if this is an annuity due? Researchers examined the effect of industrialization and increased pollution (soot) in London on the coloration in a single species of moths. Use Albert or a comparable practice tool to check your understanding of the key concepts that will appear on this years test. Fun fact, before Albert, we were called Learnerator. AP Macroeconomics Unit 2 Progress Check: MCQ. C) Myron gains, while the bank loses. D) The dominant strategy for Zeb's is to charge the same prices. These materials are part of a College Board program. # of Questions. Based on the information, does either firm have a dominant strategy? D) The dominant strategy for Zeb's is to charge the same prices. E) There is no Nash equilibrium. This is the core document for this course. Higher education professionals play a key role in developing AP courses and exams, setting credit and placement policies, and scoring student work. Which of the following is an example of a scarce factor of production? Ecosystem A, because its low genetic diversity could have resulted from an event that reduced the variation in the gene pool. Uni 3 Progress Check: MCQ. multiple-choice questions with rationales explaining correct and incorrect answers, and. One difference between monopolistic competition and oligopoly is that firms in monopolistic competition are assumed to, B) act independently in setting price and output. AP Micro Unit 3 Progress . A) Workers would be better off, and the employers would be worse off. 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. A range of factors, including disease, famine, or in the case of this research, heat stress, can stimulate these subtle changes. Natalie_Vissman. When you feel confident, use past FRQs to practice your free-response answers. Zeb C) The difference between the expenditure side of GDP and the income side of GDP. 2011 Real GDP in 1984 dollars = 2011 Nominal GDP/GDP deflator in hundredths = $15 billion/(200/100) or $7.5. This is an excerpt of the article originally appearing in bioGraphic, an online magazine about nature and sustainability powered by the California Academy of Sciences. D) Consumer surplus and deadweight loss will be zero because all the surplus will be transferred to producer surplus. 27 terms. Natalie_Vissman. . Lexie_Vanderloo. The next generation appeared to be advantaged by parental exposure to elevated temperatures. Requirement. Cells (terms and definitions ) 39 terms. search for any question, passage, or stimulus by text or keyword. AP Microeconomics Unit 4 Progress Check: FRQ 1. The first entry in each cell indicates the profits for Art's, and the second entry in each cell indicates the profits for Zeb's. In this problem we are asked for 2011 Real GDP converted into 1984 dollars. A) Jan's real wage at the end of this year is $10 an hour because the base year equals 100. 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. AP Psychology Practice Test: History, Approaches, & Research Methods pdf download. Which of the following is true of a natural monopoly? Zeb 17 terms. C) Myron gains, while the bank loses. 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. The graph shows the cost and revenue curves for a monopoly that produces teddy bears. Which basic economic. 29 . nouns-4. Progress Check MCQ MCQ Key. Skip to document. What were her average earnings per hour? In a study of obesity among children, researchers monitor the eating and exercise habits of the participating children, carefully recording everything they eat and all their activity. Labor unions negotiated a 3-year contract with employers in the automobile industry. Zeb Use the following links to Alberts AP Microeconomics course to see if you truly understand each of the units: There are two types of FRQs on the AP Micro exam: short answers and long answers. Be sure to check your responses against the Scoring Guidelines for feedback. If you have any questions, ask them in the video comments. The native species on Madagascar are more likely to survive because the island is larger and provides a greater diversity of habitats and resources. AP Macroeconomics Scoring Guide Unit 2 Progress Check: MCQ 1. Not all free-response questions on this page reflect the current exam, but the question types and the topics are similar, making them a valuable resource for students. Explain. 22 terms. If the price of an apple is $0.50, the marginal utility per dollar spent for the fifth apple is: The marginal utility per dollar spent on the last orange consumed is 75. B) There is an inflationary gap. The percentage of dark colored moths increased in the population and the percentage of light-colored moths decreased in the population. A) The dominant strategy for Art's is to lower prices. A) a large number of firms The temperature increases by about 12C and then decreases by about 12C. Jan works a 30-hour week for a minimum wage of $10 an hour. C) Immunizations that prevent the spread of diseases, An example of a good that is nonrival and nonexcludable is. IB is a registered trade mark of International Baccalaureate Organization which was also not involved in the production of and does not endorse this material.**. In 1977, 1980, and 1982, there were droughts, and the area experienced significantly less rainfall than average. B) there are a large number of rival firms producing more differentiated products Same Prices $100; $700 $400; $500 Sample Free Response. Which of the following is an example of a nonrival resource? Year Question CED Topics Video Question/Rubric; 2019 Set1 #1: Unit 4: Monopoly, Deadweight Loss, Shut Down, Fixed Costs: Question/Rubric: 2019 Set1 #2: Unit 2: Marginal Analysis, Consumer Surplus, Cross-Price Elasticity : Question/Rubric: 2019 Set1 #3 . Time Limit. Unit 5 Progress Check: MCQ. \text{0} & \text{1} & \text{2} & \text{3}\\ We cover the important vocabulary, skills, and concepts you need to understand for the exam. Which of the following best identifies the author's claim? They agreed to a 3 percent per year increase in pay over the 3 years. Determine the branding strategy that Campbell's and the NFL used. E) There is no Nash equilibrium. A) Myron loses, while the bank gains. A defense of multiple-choice tests, explaining how they are good for assessment, good for research, and good for teaching. . Explain. The die-off . b. We cover the important vocabulary, skills, and concepts you need to understand and master. They exposed juvenile coho salmon to these three different pHpH levels for two weeks. The diagram describes conditions for a natural monopoly. Americans with at Least a Two-Year Degree. A) 2009 . l. Suppose you borrow$15,000. B) 2010 Both atmospheric CO2 concentration and Antarctic temperature have remained about the same over the past 800,000 years. 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. AP Macroeconomics: Unit 3 Progress Check MCQ. Correct. c. Which is more important in determining how fast exponential growth occurs: the doubling time or the initial amount? C) standardized products The letters in the graph represent the enclosed areas. Based on the graph above, which of the following tree species would be the predominant species found during the intermediate stage of succession? Zeb As competition for resources increases, the population size of the island's specialist species will decrease. Anthropogenic disruptions to Earth's resources can have sudden and severe negative consequences to the health of native species, specifically those whose populations are already threatened. 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. 15 terms. B) a good is nonexcludable in consumption. Article Information: Sohn, E. (2018, June 5). PDF. Explain the tendency towards break-even in the long-run in perfect competition. C) $10 billion List and analyze the differences between the four major market structures.
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