By Brian Reddington
Organized for simple reference and an important perform, assurance of the entire crucial themes offered as 500 AP-style questions with specific solution explanations
5 Steps to a five: 500 AP Microeconomics/Macroeconomics inquiries to be aware of through attempt Day is adapted to fulfill your research needs—whether you have left it to the final minute to organize otherwise you were learning for months. you are going to make the most of going over the questions written to parallel the subject, structure, and measure of hassle of the questions inside the AP examination, observed via solutions with accomplished explanations.
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Extra info for 500 Must-Know AP Microeconomics/Macroeconomics Questions
A price ceiling is usually set (A) above the equilibrium price and quantity (B) at the intersection of the supply and demand curves (C) by subtracting the highest price for supply and the lowest point for demand on their respective curves (D) below the equilibrium price (E) none of the above 55. Which factor contributes to price elasticity of supply? (A) Time (B) Inflexibility of sellers (C) Consumer expectations regarding future prices (D) Producer tastes and preferences (E) The availability of a producer surplus 56.
C) Both the marginal benefit and marginal cost are always equal in this scenario. (D) The marginal benefit of the second hour is less than the marginal benefit of the additional hour. (E) The marginal cost of the second hour is greater than the marginal cost of the additional hour. Brooks Industries is a leading producer of guitars and stereos. Use the following production possibilities curve for questions 4 and 5. 4. Which two points would best represent economic growth? (A) From A to D (B) From D to C (C) From A to B (D) From E to C (E) From E to B 5.
A) principal-agent problem (B) free-rider problem (C) limited liability problem (D) marginal utility problem (E) rationing problem 78. The idea of limited liability is a significant factor to which type of business organization? (A) Sole proprietorships (B) Monopolies (C) Corporations (D) Partnerships (E) All of the above 79. If a business owns plants at various stages of production, this is known as (A) a vertically integrated firm (B) a multiplant firm (C) a conglomerate (D) a sole proprietorship (E) an oligopoly 80.
500 Must-Know AP Microeconomics/Macroeconomics Questions by Brian Reddington
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