US College AP Economics Advanced Test 5

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20 questions · All questions on one page

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College Entrance — Test 5 (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 5 (Ap Economics Advanced) · Education: High School (College Prep) · Part: College Entrance — Test 5 (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 equilibrium?

A) Supply meets demand

B) Shortage

C) Surplus

D) No trade

Question 2

What is monetary policy?

A) Congress taxes

B) Fed money control

C) Courts fine

D) States borrow

Question 3

What is crowding out?

A) More investment

B) Lower rates

C) Govt borrowing raises rates

D) No effect

Question 4

What is a monopoly?

A) Many sellers

B) No sellers

C) Buyer group

D) Single seller

Question 5

What is FDIC?

A) Deposit insurance

B) Farm agency

C) Dam builder

D) Art fund

Question 6

Which of the following best defines stagflation?

A) Fast growth

B) Slow plus prices

C) Falling prices

D) Boom

Question 7

Which of the following best defines a tariff?

A) Export gift

B) Income tax

C) Import tax

D) No tax

Question 8

What best defines interest?

A) Free money

B) Savings gift

C) Tax refund

D) Borrowing cost

Question 9

What best defines a surplus?

A) Revenue over spending

B) Deficit

C) Debt

D) No money

Question 10

Which of the following best defines a stock?

A) Bond

B) Company share

C) Loan

D) Bill

Question 11

What best defines real GDP?

A) Nominal only

B) Debt total

C) Inflation-adjusted

D) Trade total

Question 12

What best defines the Phillips curve?

A) No tradeoff

B) Same direction

C) Flat line

D) Inflation jobless tradeoff

Question 13

What best defines a bank run?

A) Panic withdrawals

B) Long lines

C) New deposits

D) Calm day

Question 14

Which of the following best defines a budget deficit?

A) Extra savings

B) Spending over revenue

C) Balanced books

D) No taxes

Question 15

What best defines the money multiplier?

A) Tax rate

B) No expansion

C) Deposit expansion

D) Interest only

Question 16

What best defines monopolistic?

A) One seller

B) Few sellers

C) No sellers

D) Many sellers varied

Question 17

What best defines a quota?

A) Import limit

B) Export gift

C) No limit

D) Tax rate

Question 18

Which of the following best defines the multiplier?

A) Tax hike

B) Spending ripple

C) No effect

D) Savings only

Question 19

What best defines comparative advantage?

A) Absolute best

B) No trade

C) Lower opportunity cost

D) Tariffs

Question 20

Provide the definition of oligopoly:

A) One seller

B) Many sellers

C) No sellers

D) Few sellers

US College AP Economics Advanced Test 5

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