US College AP Economics Macro Test 2

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20 questions · All questions on one page

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College Entrance — Test 2 (Ap Economics Macro) 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 2 (Ap Economics Macro) · Education: High School (College Prep) · Part: College Entrance — Test 2 (Ap Economics Macro) · 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 monetary policy?

A) Fed money control

B) Congress taxes

C) Courts fine

D) States borrow

Question 2

What is real GDP?

A) Nominal only

B) Inflation-adjusted

C) Debt total

D) Trade total

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 opportunity cost?

A) Next-best given up

B) Money spent

C) No cost

D) Total cost

Question 6

What best defines oligopoly?

A) One seller

B) Few sellers

C) Many sellers

D) No sellers

Question 7

Which term means "Tax-spend management"?

A) scarcity

B) opportunity cost

C) fiscal policy

D) equilibrium

Question 8

Which of the following best defines the national debt?

A) Yearly deficit

B) State debts

C) Bank loans

D) Owed total

Question 9

Which of the following best defines a bank run?

A) Panic withdrawals

B) Long lines

C) New deposits

D) Calm day

Question 10

Which of the following best defines profit?

A) Loss

B) Gain over cost

C) Break even

D) No sales

Question 11

Which of the following best defines competition?

A) One seller

B) No sellers

C) Rival sellers

D) Government only

Question 12

Which of the following best defines interest?

A) Free money

B) Savings gift

C) Tax refund

D) Borrowing cost

Question 13

Which term means "Jobless seeking"?

A) unemployment

B) scarcity

C) opportunity cost

D) equilibrium

Question 14

Which of the following best defines perfect competition?

A) One seller

B) Many sellers same good

C) Few sellers

D) No sellers

Question 15

Which of the following best defines a surplus?

A) Deficit

B) Debt

C) Revenue over spending

D) No money

Question 16

Which of the following best defines exchange rate?

A) Stock price

B) Wage rate

C) Tax rate

D) Currency price

Question 17

Which of the following best defines stagflation?

A) Slow plus prices

B) Fast growth

C) Falling prices

D) Boom

Question 18

Which of the following best defines the money multiplier?

A) Tax rate

B) Deposit expansion

C) No expansion

D) Interest only

Question 19

Which of the following best defines a stock?

A) Bond

B) Loan

C) Company share

D) Bill

Question 20

Which term means "Output value total"?

A) scarcity

B) opportunity cost

C) equilibrium

D) GDP

US College AP Economics Macro Test 2

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