US College AP Economics Advanced Test 4

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20 questions · All questions on one page

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College Entrance — Test 4 (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 4 (Ap Economics Advanced) · Education: High School (College Prep) · Part: College Entrance — Test 4 (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 is competition?

A) Rival sellers

B) One seller

C) No sellers

D) Government only

Question 2

What is a stock?

A) Bond

B) Company share

C) Loan

D) Bill

Question 3

What is a budget deficit?

A) Extra savings

B) Balanced books

C) Spending over revenue

D) No taxes

Question 4

What is the multiplier?

A) Tax hike

B) No effect

C) Savings only

D) Spending ripple

Question 5

What shifts supply?

A) Costs technology

B) Tastes

C) Income

D) No factors

Question 6

Provide the definition of exchange rate:

A) Stock price

B) Currency price

C) Wage rate

D) Tax rate

Question 7

Which term means "Supply meets demand"?

A) scarcity

B) opportunity cost

C) equilibrium

D) GDP

Question 8

Which of the following best defines interest?

A) Free money

B) Savings gift

C) Tax refund

D) Borrowing cost

Question 9

Which of the following best defines a surplus?

A) Revenue over spending

B) Deficit

C) Debt

D) No money

Question 10

Which term means "Fed money control"?

A) scarcity

B) monetary policy

C) opportunity cost

D) equilibrium

Question 11

Which of the following best defines real GDP?

A) Nominal only

B) Debt total

C) Inflation-adjusted

D) Trade total

Question 12

Which of the following best defines the Phillips curve?

A) No tradeoff

B) Same direction

C) Flat line

D) Inflation jobless tradeoff

Question 13

Which of the following best defines a bank run?

A) Panic withdrawals

B) Long lines

C) New deposits

D) Calm day

Question 14

Which term means "Govt borrowing raises rates"?

A) scarcity

B) crowding out

C) opportunity cost

D) equilibrium

Question 15

Which of the following best defines the money multiplier?

A) Tax rate

B) No expansion

C) Deposit expansion

D) Interest only

Question 16

Which of the following best defines monopolistic?

A) One seller

B) Few sellers

C) No sellers

D) Many sellers varied

Question 17

Which of the following best defines a quota?

A) Import limit

B) Export gift

C) No limit

D) Tax rate

Question 18

Which term means "Single seller"?

A) scarcity

B) a monopoly

C) opportunity cost

D) equilibrium

Question 19

Which of the following best defines comparative advantage?

A) Absolute best

B) No trade

C) Lower opportunity cost

D) Tariffs

Question 20

What best defines oligopoly?

A) One seller

B) Many sellers

C) No sellers

D) Few sellers

US College AP Economics Advanced Test 4

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