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Part A: Multiple Choice

AP Macro Unit 3 Practice Test: National Income and Price Determination

This AP Macroeconomics Unit 3 practice test focuses on national income and price determination. Topics include aggregate demand, short-run and long-run aggregate supply, and macroeconomic equilibrium. It also reviews how fiscal policy shifts aggregate demand and how multipliers affect total output.

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	Price Level	Real Output
(A)	Increase	Increase
(B)	Decrease	Decrease
(C)	Increase	Decrease
(D)	Decrease	Increase
(E)	Indeterminate	Increase

Free AP Macroeconomics Tests

AP Macro Practice Tests

Full-Length AP Macro Practice Exam

AP Macro Unit 3 Practice Test: National Income and Price Determination

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1. Question

Aggregate Demand is calculated by adding together\(:\)

2. Question

A reason for the downward-sloping aggregate demand curve is that as the price level decreases what increases?

3. Question

Gross private domestic investment is

4. Question

A reason for the downward-sloping aggregate demand curve is that

5. Question

A reason for the downward-sloping aggregate demand curve is that

6. Question

An economy has a marginal propensity to consume of 0.90 and does not engage in international trade. If government spending increases by $5 million, what is the maximum potential change in gross domestic product?

7. Question

An economy has a marginal propensity to consume of 0.80 and does not engage in international trade. If the government lowers personal income tax by $20 billion, what is the maximum potential change in gross domestic product?

8. Question

An economy has a marginal propensity to consume of 0.75 and does not engage in international trade. If the government increases public transfer payments by $50 billion, what is the maximum potential change in gross domestic product (GDP)?

9. Question

What is reason for why the short-run aggregate supply curve is generally considered to be upward-sloping?

10. Question

An increase in which of the following is likely to cause the short-run aggregate supply curve to shift to the left?

11. Question

An increase in which of the following is likely to cause the short-run aggregate supply curve to shift to the right?

12. Question

A decrease in which of the following is likely to cause the short-run aggregate supply to shift to the left?

13. Question

A decrease in which of the following is likely to shift the short-run aggregate supply curve to the right?

14. Question

The long-run aggregate supply curve is

15. Question

An economy is experiencing a negative or recessionary gap when

16. Question

An economy is experiencing a positive or inflationary gap when

17. Question

If there is a positive wealth effect for consumers, what will happen to equilibrium price level and real output?

18. Question

If an economy is currently producing beyond their long-run potential real output, how will the economy self-correct to the long-run equilibrium?

19. Question

An economy currently has a negative or recessionary GDP gap. What fiscal policy should the government enact to get the economy back to full employment?

20. Question

Assume an economy is experiencing an inflationary or positive GDP gap. What fiscal policy should the government implement to lower the inflation level?

21. Question

Assume an economy is experiencing a recessionary or negative GDP gap. What fiscal policy should the government implement to increase real output?

22. Question

Which of the following is an example of an automatic stabilizer?

Next: AP Macro Unit 4 Practice Test