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Introduction: The Five-Step Program
Step 1 Set Up Your Study Program
1 What You Need to Know About the AP Macroeconomics Exam
2 How to Plan Your Time
Step 2 Determine Your Test Readiness
3 Take the Diagnostic Exam
Diagnostic Exam: AP Macroeconomics
Step 3 Develop Strategies for Success
4 How to Approach Each Question Type
Section I: Multiple-Choice Questions
Section II: Free-Response Questions
Step 4 Review the Knowledge You Need to Score High
5 Fundamentals of Economic Analysis
5.1 Scarce Resources
5.2 Production Possibilities
5.3 Functions of Economic Systems
6 Demand, Supply, Market Equilibrium, and Welfare Analysis
6.1 Demand
6.2 Supply
6.3 Market Equilibrium
6.4 Welfare Analysis
7 Macroeconomic Measures of Performance
7.1 The Circular Flow Model
7.2 Accounting for Output and Income
7.3 Inflation and the Consumer Price Index
7.4 Unemployment
8 Consumption, Saving, Investment, and the Multiplier
8.1 Consumption and Saving
8.2 Investment
8.3 The Multiplier Effect
9 Aggregate Demand and Aggregate Supply
9.1 Aggregate Demand (AD)
9.2 Aggregate Supply (AS)
9.3 Macroeconomic Equilibrium
9.4 The Trade-Off Between Inflation and Unemployment
10 Fiscal Policy, Economic Growth, and Productivity
10.1 Expansionary and Contractionary Fiscal Policy
10.2 Difficulties of Fiscal Policy
10.3 Economic Growth and Productivity
11 Money, Banking, and Monetary Policy
11.1 Money and Financial Assets
11.2 Fractional Reserve Banking and Money Creation
11.3 Monetary Policy
12 International Trade
12.1 Comparative Advantage and Gains from Trade
12.2 Balance of Payments
12.3 Foreign Exchange Rates
12.4 Trade Barriers
Step 5 Build Your Test-Taking Confidence
AP Macroeconomics Practice Exam 1
AP Macroeconomics Practice Exam 2
5 Minutes to a 5
90 AP Macroeconomics Activities and Questions in 5 Minutes a Day
90 AP Microeconomics Activities and Questions in 5 Minutes a Day
Appendixes
Further Reading
Websites
Glossary
Important Formulas and Conditions
