US College AP Economics Advanced Test 3

College Entrance » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

College Entrance — Test 3 (Ap Economics Advanced) High School (Grades 11-12, College Entrance, USA) USA College Board (SAT/ACT/AP) — USA

What is this test? for College Entrance prep (SAT/ACT/PSAT/AP), USA — high school to college transition — High School (Grades 11-12, College Entrance, USA) level, USA.
Is this for you? For High School students (grades 11-12) preparing for SAT, ACT, PSAT or AP in the USA
Section: College Entrance — Test 3 (Ap Economics Advanced) · Education: High School (College Prep) · Part: College Entrance — Test 3 (Ap Economics Advanced) · Country: USA

Economics is a fundamental social science examining the relationship between unlimited wants and scarce resources.

This test will help you assess your knowledge of micro- and macro-economics.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What shifts demand?

A) Tastes income prices

B) No factors

C) Supply only

D) Weather only

Question 2

What is perfect competition?

A) One seller

B) Many sellers same good

C) Few sellers

D) No sellers

Question 3

What is a bond?

A) Share

B) Bill

C) Lent money paper

D) Coin

Question 4

What is scarcity?

A) Endless goods

B) No wants

C) Free all

D) Limited resources

Question 5

What is a trade deficit?

A) Imports over exports

B) Extra savings

C) Balanced books

D) No trade

Question 6

What best defines exchange rate?

A) Stock price

B) Currency price

C) Wage rate

D) Tax rate

Question 7

Provide the definition of competition:

A) One seller

B) No sellers

C) Rival sellers

D) Government only

Question 8

Which term means "Borrowing cost"?

A) scarcity

B) opportunity cost

C) equilibrium

D) interest

Question 9

Provide the definition of money supply:

A) Cash plus deposits

B) Gold only

C) Stocks

D) Bonds

Question 10

Which term means "Company share"?

A) scarcity

B) a stock

C) opportunity cost

D) equilibrium

Question 11

Which term means "Inflation-adjusted"?

A) scarcity

B) opportunity cost

C) real GDP

D) equilibrium

Question 12

Which term means "Inflation jobless tradeoff"?

A) scarcity

B) opportunity cost

C) equilibrium

D) the Phillips curve

Question 13

Provide the definition of the Fed:

A) Central bank

B) Treasury office

C) Private bank

D) World bank

Question 14

Which term means "Spending over revenue"?

A) scarcity

B) a budget deficit

C) opportunity cost

D) equilibrium

Question 15

Which term means "Deposit expansion"?

A) scarcity

B) opportunity cost

C) the money multiplier

D) equilibrium

Question 16

Which term means "Many sellers varied"?

A) scarcity

B) opportunity cost

C) equilibrium

D) monopolistic

Question 17

Provide the definition of inflation:

A) Rising prices

B) Falling prices

C) Flat wages

D) High taxes

Question 18

Which term means "Spending ripple"?

A) scarcity

B) the multiplier

C) opportunity cost

D) equilibrium

Question 19

Which term means "Lower opportunity cost"?

A) scarcity

B) opportunity cost

C) comparative advantage

D) equilibrium

Question 20

Provide the definition of GDP:

A) Debt total

B) Tax total

C) Trade total

D) Output value total

US College AP Economics Advanced Test 3

Test Complete

About This Test