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  • Welcome to Economics! AP®

  • Welcome to Economics! AP® - Final Assessment

    This is the final assessment for Welcome to Economics! AP® (Available when you subscribe.)

    • This topic

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      • Choice in a World of Scarcity AP®

        2.1 How Individuals Make Choices Based on Their Budget Constraint
        2.2 The Production Possibilities Frontier and Social Choices
        2.3 Confronting Objections to the Economic Approach
        Final Assessment

        • Demand and Supply AP®

          3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services
          3.2 Shifts in Demand and Supply for Goods and Services
          3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process
          3.4 Price Ceilings and Price Floors
          3.5 Demand, Supply, and Efficiency
          Final Assessment

          • Labor and Financial Markets AP®

            4.1 Demand and Supply at Work in Labor Markets
            4.2 Demand and Supply in Financial Markets
            4.3 The Market System as an Efficient Mechanism for Information
            Final Assessment

            • The Macroeconomic Perspective AP®

              5.1 Measuring the Size of the Economy: Gross Domestic Product
              5.2 Adjusting Nominal Values to Real Values
              5.3 Tracking Real GDP over Time
              5.4 Comparing GDP among Countries
              5.5 How Well GDP Measures the Well-Being of Society
              Final Assessment

              • Economic Growth AP®

                6.1 The Relatively Recent Arrival of Economic Growth
                6.2 Labor Productivity and Economic Growth
                6.3 Components of Economic Growth
                6.4 Economic Convergence
                Final Assessment

                • Unemployment AP®

                  7.1 How Economists Define and Compute Unemployment Rate
                  7.2 Patterns of Unemployment
                  7.3 What Causes Changes in Unemployment over the Short Run
                  7.4 What Causes Changes in Unemployment over the Long Run
                  Final Assessment

                  • Inflation AP®

                    8.1 Tracking Inflation
                    8.2 How to Measure Changes in the Cost of Living
                    8.3 How the U.S. and Other Countries Experience Inflation
                    8.4 The Confusion Over Inflation
                    8.5 Indexing and Its Limitations
                    Final Assessment

                    • The International Trade and Capital Flows AP®

                      9.1 Measuring Trade Balances
                      9.2 Trade Balances in Historical and International Context
                      9.3 Trade Balances and Flows of Financial Capital
                      9.4 The National Saving and Investment Identity
                      9.5 The Pros and Cons of Trade Deficits and Surpluses
                      9.6 The Difference between Level of Trade and the Trade Balance
                      Final Assessment

                        • The Aggregate Demand/Aggregate Supply Model AP®

                          10.1 Macroeconomic Perspectives on Demand and Supply
                          10.2 Building a Model of Aggregate Demand and Aggregate Supply
                          10.3 Shifts in Aggregate Supply
                          10.4 Shifts in Aggregate Demand
                          10.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
                          10.6 Keynes’ Law and Say’s Law in the AD/AS Model
                          Final Assessment

                          • The Keynesian Perspective AP®

                            11.1 Aggregate Demand in Keynesian Analysis
                            11.2 The Building Blocks of Keynesian Analysis
                            11.3 The Phillips Curve
                            11.4 The Keynesian Perspective on Market Forces
                            Final Assessment

                            • The Neoclassical Perspective AP®

                              12.1 The Building Blocks of Neoclassical Analysis
                              12.2 The Policy Implications of the Neoclassical Perspective
                              12.3 Balancing Keynesian and Neoclassical Models
                              Final Assessment

                              • Money and Banking AP®

                                13.1 Defining Money by Its Functions
                                13.2 Measuring Money: Currency, M1, and M2
                                13.3 The Role of Banks
                                13.4 How Banks Create Money
                                Final Assessment

                                • Monetary Policy and Bank Regulation AP®

                                  14.1 The Federal Reserve Banking System and Central Banks
                                  14.2 Bank Regulation
                                  14.3 How a Central Bank Executes Monetary Policy
                                  14.4 Monetary Policy and Economic Outcomes
                                  14.5 Pitfalls for Monetary Policy
                                  Final Assessment

                                  • Exchange Rates and International Capital Flows AP®

                                    15.1 How the Foreign Exchange Market Works
                                    15.2 Demand and Supply Shifts in Foreign Exchange Markets
                                    15.3 Macroeconomic Effects of Exchange Rates
                                    15.4 Exchange Rate Policies
                                    Final Assessment

                                    • Government Budgets and Fiscal Policy AP®

                                      16.1 Government Spending
                                      16.2 Taxation
                                      16.3 Federal Deficits and the National Debt
                                      16.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
                                      16.5 Automatic Stabilizers
                                      16.6 Practical Problems with Discretionary Fiscal Policy
                                      16.7 The Question of a Balanced Budget
                                      Final Assessment

                                      • The Impacts of Government Borrowing AP®

                                        17.1 How Government Borrowing Affects Investment and the Trade Balance
                                        17.2 Fiscal Policy and the Trade Balance
                                        17.3 How Government Borrowing Affects Private Saving
                                        17.4 Fiscal Policy, Investment, and Economic Growth
                                        Final Assessment

                                          • Macroeconomic Policy Around the World AP®

                                            18.1 The Diversity of Countries and Economies across the World
                                            18.2 Improving Countries’ Standards of Living
                                            18.3 Causes of Unemployment around the World
                                            18.4 Causes of Inflation in Various Countries and Regions
                                            18.5 Balance of Trade Concerns
                                            Final Assessment

                                            • Appendix A: The Use of Mathematics in Principles of Economics

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