between Year 3 and Year 4 is (150-125)/125 x 100 = 20%. For Increase in government exports. This includes the sale and purchase of goods/services and assets. For examples. For example, if a Swedish firm buys a manufacturing facility in Idaho, this is considered in the capital account. AP Macroeconomics Free-Response Practice Test 1. A leftward shift of the aggregate demand curve B. rather just money. Explain the connections between macroeconomic variables and the international movement of goods, services, and financial capital. Youll spend more time exploring the effects of fiscal and monetary policy actions and examine the concept of economic growth. So, CPI may suggest that prices stay the A. Decreasing taxes Define and give examples of the determinants of aggregate supply. Make sure you have mastered the concepts and problem solving techniques from the following sessions before attempting the problem set: Preferences and Utility. A. You would also include the purchases made by Chinese tourists and money spent by American tourists but since those amounts are both $1000 they cancel each other out. Write one sentence for the following vocabulary terms. E. Private investment, AP Macroeconomics Unit 2 Progress Check: MCQ, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Don Herrmann, J. David Spiceland, Wayne Thomas. IN THIS UN. money on a fixed interest rate would benefit because they are paying back Which of the following is the best measure of economic growth? LAST UNIT! Fill ap microeconomics problem set 6 answers: Try Risk Free Comments and Help with unit 6 market failures and the role of the government problem set 6 answers Preview of sample ap microeconomics unit 6 frq If you believe that this page should be taken down, please follow our DMCA take down process here. Youll explore how changes in aggregate spending and production, economic fluctuations, and policy actions affect national income, unemployment, and inflation. This course contains problem sets that accompany each module. Join your class in My AP. Watch: Watch the lecture videos related to the chapter and "fish" for a. If we have a, With a few exceptions, the US dollars sent to foreigners should be equal to the US dollars that foreigners send to Americans. GEORGIA . The four components are Consumption (ex. E. shifts as a result of productivity increases, Natural resources are must learn new skills to get a job. Be sure to show work or justify your answer for each problem. An example of financial account is the sale of United States High tax rates EXPENDITURES APPROACH If you are using assistive technology and need help accessing these PDFs in another format, contact Services for Students with Disabilities at 212-713-8333 or by email at ssd@info.collegeboard.org. example, cashiers after self-checkout started spreading. Sign in to access them. To get an AP score calculator, first talk to your teacherAP teachers often have a formula they use for grading practice tests. UNIT 6 . 3. ( /10) b. Your teacher may choose to organize the course The value of the financial account for the United States is a surplus of $600. Due next class. Decrease in government exports. Explain two negative externalities associated with SUVs. We cover the vocabulary, skills, and concepts you need to master. C. Political stability Learn how how economic activity between nations must be facilitated by complex currency exchange markets. Free-Response Question and Scoring Archive. It also shows investments made by foreigners and by Americans on American assets and foreign assets, respectively. Unemployment Rate= Ignore taxes. 3. a. No forfeitures are anticipated. American Optical Corporation provides a variety of share-based compensation plans to its employees. https://whs-pajaro-ca.schoolloop.com/pf4/cms2/view_page Macro Unit 2 Practice Questions (Free Download) - YouTube If you demand In the case that you've, Please consider a market served by a monopolist. Assuming that the study is not taking an explicit position about whether soft drink consumption is good or bad, but just reporting the science, it would be considered positive. Investment in human capital have transferrable skills and theses jobs will never come back, so workers. d. C. cannot be increased in the long run Decrease in consumer spending. AP Macroeconomics Practice Test: 6. E. Regulating businesses, Economic growth occurs when Oliver discusses how to determine area under a normal curve and whether a result is surprising. We can use this to illustrate phases of the business cycle and how different events can lead to changes in two of our key macroeconomic indicators: real GDP and inflation. income earned in a year. It is not adjusted for inflation An decrease in AD? It % Consumer Price Index measures changes in the price level of a market basket If the MPC in an economy is 0.8, (Advanced analysis) Assume the following consumption schedule: C = 20 + 0.9 Y , where C is consumption and Y is disposable income. Unit 6 . Define. Define and give examples of the determinants of aggregate demand. YouTube Video: Production Possibilities Curve Click below for Study Guide directions: https://www.murrieta.k12 . AP Macroeconomics Review - with Answers Page 15 62. As a result of the negative externality, for every given output level Marginal Social Cost ( MSC ) is now higher than Marginal, In this question, you will discuss the general case of negative externalities and an interesting outcome of a monopolist's presence in a market with a negative externality. Explore the principles of economics that apply to an economic system as a whole. This is calculated by adding the -$600 spent on the U.S. business, -$200 spent on the purchase of U.S. bonds, and the $200 they received from the investment by the U.S. in the Chinese stock market. appreciating, and a good that loses its worth is depreciating. 2. who supplies currency and who demands it. Assignment: Problem Set Economic Thinking, Assignment: Problem Set Choice in a World of Scarcity, Assignment: Problem Set Supply and Demand, Assignment: Problem Set Applications of Supply and Demand, Assignment: Problem Set GDP and Economic Growth, Assignment: Problem Set Unemployment and Inflation, Assignment: Problem Set The Aggregate Demand-Aggregate Supply Model, Assignment: Problem Set Keynesian and Neoclassical Economics, Assignment: Problem Set The Income-Expenditure Model, Assignment: Problem Set Money and Banking, Assignment: Problem Set Monetary Policy, Assignment: Problem Set Policy Applications, Assignment: Problem Set Globalization and Trade, Assignment: Problem Set Exchange Rates and International Finance, https://thenounproject.com/term/puzzle-pieces/963732/. B. For example, a movie could have a Dig deeper into the different forms of energy in unit 4 of AP Physics 1. This is explained though the. b. Students should check the list of approved graphing calculators; they may bring only approved models. relative to the base year and cannot be compared to other years. Which of the following is true of the long-run aggregate supply curve? A simulation is the imitation of the operation of a real-world process or system over time. Decrease in resource prices 2. Your real income would stay the same if, for example, your nominal interest Read through them and be able to do them. The value of the financial account for China is a deficit of $600. In these problem sets, students are given an opportunity to apply the quantitative-reasoning skills they learned throughout the module. Structural You would also include the purchases made by Chinese tourists and money spent by American tourists but since those amounts are both $1000 they cancel each other out. D. has no effect on an economy's standard of living consignment, memorandum buying, and reverse auction. buy German products, then they supply dollars to pay for euros. C. Airports 3. . If you are using assistive technology and need help accessing these PDFs in another format, contact Services for Students with Disabilities at 212-713-8333 or by email at [emailprotected]. Prepare the appropriate journal entry to record the award of options on January 1, 2018. rightward by $30 billion at. These questions remain available because teachers indicate that imperfectly aligned questions still provide instructional value. one currency, you need to supply your own currency. YouTube Video: Circular Flow Model, UNIT 3 Aggregate Demand & Aggregate Supply: Fluctuations in Outputs and Prices, AD/AS Website with great interactive feature, UNIT 4 Money, Monetary Policy, and Economic Stability, Money, Monetary Policy, and Economic Stability, UNIT 5 Monetary and Fiscal Combination: Economic Policy in the Real World, Economic Schools of Thought Transperencies used in class, Activty 52 Answer Key Sorting Out Macroeconomic Theories, UNIT 6 The United States in a Global Economy, International Trade, Absolute/Comparative Advantage, Balance of Payments, and Exchange Rates, Absolute/Comparative Advantage Visuals Transperencies used in class, interactive website for further practice, LEXC Top 10 Performances in Meets by Grade, LEXC Top 25 Performances on Various Courses, YouTube Video: Crash Course Economics #1: Intro to Economics, YouTube Video: Production Possibilities Curve, YouTube Video: Production Possibilities Curve Shifts, YouTube Video: Crash Course Economics #3: Economic Systems. They hold some foreign currency which is called the, It's kinda like the concept of using money from your savings account to save your negative checkings account. E. Schools, Which of the following is not rue of the LRAS curve? example, your nominal interest rate was 5% and the rate of inflation was 10%. What is a futures contract? B. AP Statistics Unit 2 Progress Check 1(c). US sent more USD abroad then receiving foreign currency, more foreign capital investment within the US than American investments abroad, If the money for the transaction is flowing out of the country it is negative. If the US sent more USD abroad then receiving foreign currency, the balance of the current account would be, The capital account, looks at real estate or financial assets of another nation. inventory are not counted for GDP. endobj A. the economy recovers from a recession endobj The value of the current account for China is a surplus of $600. YouTube Video: Crash Course Economics #3: Economic Systems A t2`F0Ow0X3.5[]UU(sgONo,@pffhr={'Prn/Kzw{s~A0BP 6a\({p1nO;y0K@,ZE,BA|@JoV Hyyy%9*GiY=R,%:`S2QPs1~]gAd0pRcr1V/%o/dz`(f^)Y6;I"q1GIfHZZ5 9xL^Y#b&h 8P` p9L)cA"!godKmw4\Wgc*bzmA#3Kn`lO|3X`1uBN6FPr&w6nS]gV,Gb +>39tGt#~&)Xp_\Kz\{5mis+|Sb}!G}aLRx8O)9Kj6]lBa-t4BiSwb?4Bg!C. example of current account is the money earned by an American who rents out Maybe a Ford car. E. phase of the business cycle, Which of the following is true regarding productivity? Balance of Payments . The Unemployment Rate is calculated using this equation: must learn new skills to get a job. France 40 80. that inflation increased by 25% from the base year to Year 3. Homework Packets . At a(n) $1,100 level of disposable income, the level of, If investment increases by $30 billion and the economy's MPC is 0.8, the aggregate demand curve will shift Multiple Choice rightward by $150 billion at each price level. $2 billion B. reasons. This amount is set by the Fed and guarantees that banks won't loan out everything in deposit. The CED was updated in the summer of 2022 to incorporate new monetary policy content and the updated calculator policy. A. can be increased by human capital investment in the short run paying. What is the reserve ratio? AP Macroeconomics About the Course About the Exam Go to My AP About the Course About the Exam About the Course Explore the principles of economics that apply to an economic system as a whole. Youll use graphs, charts, and data to analyze, describe, and explain economic concepts. that inflation did not change from the base year to Year 2. D. Education c. If actual inflation is greater than the anticipated inflation, then borrowers of means that inflation increased by 50% from the base year to Year 4. The problem set is comprised of challenging questions that test your understanding of the material covered in the course. from year to year. Your real income would fall if, for arent working. School San Juan Hills High Course Title ECON 101 Type Homework Help Uploaded By paigekoritz Pages 3 Ratings 88% (8) This would result in dollars leaving the country, with the US current account as a negative entry. Price of Market BasketCurrent Year A. expenditure approach where you add up all spending on final goods and Trade market basket, consumers buy less of these products and more substitutes that Which of the following would best portray long-run economic growth? KRUGMANS ECONOMICS for AP TEXTBOOK in PDF Format, Supply & Demand Notes Rough notes from teachers lecture, Interactive Supply & Demand Graphs interactive website for further practice Addeddate 2022-04-10 18:44:43 Identifier amsco-ap-world. D. represents a point on the PPC AP Stats Unit 2 Progress Check Answers. Based on the dividend growth model, what are the two components of the total return on a share of stock? Those bonds are a future liability as they can be sold again. Appreciation and depreciation occur when a currency experiences an increase Corporate income tax on his profits, individual income tax on his salary, and payroll tax taken out of the wages he pays himself. AP Exams are regularly updated to align with best practices in college-level learning. Intermediate goods, non-production This means dollars leaving the US would end up coming back to the US. Workers do not Economics Schools of Thoughts Unit 5. none . 2023 Fiveable Inc. All rights reserved. A CPI of 125 means E. increasing if there is economic growth in the economy, Which of the following is a government policy to promote growth? Decrease in investments. $80 billion C. $10 billion D. $20. 1. Increase in Productivity A decrease in AS? <>/Metadata 304 0 R/ViewerPreferences 305 0 R>> Explain why the public sector and not the private sector provides public goods. B. If the production possibilities curve of an economy shifts from AB to CD, it most likely is caused by. Youll start the course with an introduction to economic concepts, principles, and models that will serve as a foundation for studying macroeconomics. Students will also be introduced to the use of microeconomic applications to address . 1. The euro, Unit 6 Macroeconomic Indicators & Foreign Exchange Problem Set #6, Copyright 2023 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, transactions, illegal or black-market activities, household production, and, expenditure approach where you add up all spending on final goods and, services produced in a year or using the income approach where you add up all. b. Chemistry: The Central Science (Theodore E. Brown; H. Eugene H LeMay; Bruce E. Bursten; Catherine Murphy; Patrick Woodward), Psychology (David G. Myers; C. Nathan DeWall), Forecasting, Time Series, and Regression (Richard T. O'Connell; Anne B. Koehler), Principles of Environmental Science (William P. Cunningham; Mary Ann Cunningham), Business Law: Text and Cases (Kenneth W. Clarkson; Roger LeRoy Miller; Frank B. content differently based on local priorities and preferences. 5. It is MACROECONOMICS. D. subject to depreciation UNIT 6 AP MACROECONOMICS From Simple Studies, https://simplestudies.edublogs.org & @simplestudiesinc on Instagram UNIT 6: Open Economy- International Trade and Finance BALANCE OF PAYMENTS: The balance of payments is the difference between all international purchases and sales in a period of time. A. services produced in a year or using the income approach where you add up all It Determine outcomes of specific economic situations, Model economic situations using graphs or visual representations. Wed love your input. Think about it. hodgetwins names We come up with the money for Ap Macroeconomics Unit 3 Test Answers and numerous book collections from fictions to scientific research in any way. The money he receives is not a future liability, but C. fiscal policy increases aggregate demand Use the term in context. AP Macroeconomics can lead to a wide range of careers and college majors, Opportunity cost and the Production Possibilities Curve, Comparative advantage and gains from trade, Market equilibrium, disequilibrium, and changes in equilibrium, Unit 2: Economic Indicators and the Business Cycle, Unit 3: National Income and Price Determination, Unit 5: Long-Run Consequences of Stabilization Policies, Unit 6: Open EconomyInternational Trade and Finance, Equilibrium and changes in the Aggregate Demand-Aggregate Supply Model, Definition, measurement, and functions of money, Banking and the expansion of the money supply, Exchange rates and the foreign exchange market, Effects of changes in policies and economic conditions on the foreign exchange market, Changes in the foreign exchange market and net exports, Real interest rates and international capital flows. may not be in the market basket. AP Macroeconomics Free-Response Practice Test 3. MACROECONOMICS PART. b. Nominal GDP is measured in current prices. Who pays the external. The AD-AS (aggregate demand-aggregate supply) model is a way of illustrating national income determination and changes in the price level. OF EXCELLENCE . A. France has the absolute advantage in both products. . imports. An example for depreciation is a car. amsco answer key Ap world history unit 6 amsco reading guide by olivia jacobson. Everything you need to learn and practice for your introductory college, AP, A-Level, or CLEP microeconomics course and exams. C. slope of the PPC have transferrable skills and theses jobs will never come back, so workers Under its executive stock option plan, the company granted options on January 1, 2018, that permit executives to acquire 4 million of the company's $1 par common shares within the next five years, but not before December 31,2019 (the vesting date). came out, they werent calculated at all, since CPI is a fixed that changes If an American firm buys a shipbuilding firm in Sweden, it would be an outflow of American assets and investments to foreign nations. 6. individual income taxes 7. 6 Macroeconomics LESSON 2 UNIT Introduction and Description The last lesson demonstrated the benefits of trade among nations, showing that total output increased. 50 PDF Chapter by chapter quizzes for Amsco's AP Human Geography books. Find colleges that grant credit and/or placement for AP Exam scores in this and other AP courses. The monopolist has a linear marginal cost (shown here as Marginal Private Cost, MPC M ) and a downward-sloping demand curve D 0 . reflect the standard of living. Skills You'll Learn Define economic principles and models Prepare the appropriate journal entry to record compensation expense on December 31, 2019. adjusted for inflation, and its better. A rightward shift of the aggregate demand curve C. A leftward shift of the production possibilities curve D. C. Depreciation of capital stock Money, Monetary Policy, and Economic Stability UNIT 5 - Monetary and Fiscal Combination: Economic Policy in the Real World Economic Schools of Thought - Transperencies used in class Activty 52 Answer Key - Sorting Out Macroeconomic Theories UNIT 6 - The United States in a Global Economy Since an op-ed makes a case for what should be, it is considered normative. 7. Which do you think is typically bigger? The CPI Real GDP is expressed in constant, unchanging dollars. stream For. 1. Students also viewed Not all free-response questions on this page reflect the current exam, but the question types and the topics are similar, making them a valuable resource for students. endobj $4000000 in 2010. The value of the current account for the United States is a deficit of $600. C. equal to LRAS bonds to China. AP Exams are regularly updated to align with best practices in college-level learning. CPI= 0% unemployment is impossible and undesirable. 4. appreciation is a house. The tax is regressive because wealthy income earners are not taxed at all on income above $113,000. The fair value of the 4 million options, estimated by an appropriate option pricing model, is $3\$ 3$3 per option. example, cashiers after self-checkout started spreading. Unemployment results from economic downturns (recessions). Increase in positive government actions 3. 4 0 obj Your real income would increase if, Unemployed C. measures productive capacity B. never renewable This test contains 12 AP macroeconomics practice questions with detailed explanations, to be completed in 14.4 minutes. AP Macro Economics - Watsonville High School 1. why we trade. Labor Force. Unit 3 Numbers that make the news . An Labor hours needed to produce a unit of: Country Wine Cheese. a. Review your notes periodically. of consumer goods and services purchased by households. Cyclical 1 0 obj Roads Financial account measures the purchase and sale of assets abroad. Here is a, Please code in Python SAMPLE_DATA = { "West Humber-Clairville": { "id": 1, "hypertension": [703, 13291, 3741, 9663, 3959, 5176], "total": 33230, "low_income": 5950, }, "Mount. A. slope of the LRAS curve Excessive government intervention There are two accounts within the balance of payments: (1) the current account, and (2) the capital account. D. Common property same, though the economic well-being has improved significantly. Give and explain examples. Unit 6 Macroeconomic Indicators & Foreign Exchange Problem Set #6 Macroeconomic Indicators & Foreign Exchange Problem Set SchoolHigh School - USA CourseAP Macroeconomics (AP History and Social Science) Academic year 2017/2018 Helpful?00 Share Comments Please sign in or register to post comments. Budget Constraints. . <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 12 0 R 15 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Key Features of the AD-AS model B. less than LRAS If the MPC is 0.8 and the equilibrium GDP is $10 billion below the full-employment GDP, then the size of the recessionary expenditure gap is A. countrys borders in one year. This is calculated by adding the +$600 they receive for the purchase of a U.S. business by the Chinese, the +$200 they received from the Chinese government purchase of U.S. bonds, and the -$200 spent on the American investment in the Chinese stock market ($600+$200-$200). Moles and molar mass: Atomic structure and properties AP Chemistry Homework Answer Key AP Chemistry First Semester Week 0 (Aug 10-12) AP Chem - Week 0 - Lab Safety Test(Due on 8/11) Week 1 (Aug 15-19) AP Chem - Week 1 - Atomic Structure(Due on 8/18) Week 1 Answer Sheet Photoelectric Effect Practice Problems Photoelectric Effect Practice . E. part of physical capital, Governments can promote economic growth by providing which of the following? Problem Sets | Macroeconomics Problem Sets This course contains problem sets that accompany each module. A. is vertical Demand, however, is virtually unlimited. company builds new factory), Government (ex. d. The first problem is Substitution Bias where as prices increase for the fixed Then these dollars would return as a positive entry in either the current or capital account. military buys new equipment), and Net Exports (ex. for example, your nominal interest was 10% and the rate of inflation was 5%. For example, gas prices going up, causing people to switch to a The course content outlined below is organized into commonly taught units of study that Money Multiplier = 1 / Reserve Requirement = 1/ RR Example) If RR = 20%, the Money Multiplier = 1 / (1/5) = 5 E. can increase in the long run, Which of the following will not increase productivity? A CPI of 100 means AP Macroeconomics Exam Free-Response Questions and Scoring Information Archive Download free-response questions from past exams along with scoring guidelines, sample responses from exam takers, and scoring distributions. AP Macro > Unit 6 6.1 Balance of Payments Accounts 5 min read january 7, 2023 J Jeanne Stansak H Haseung Jun Share Balance of Payments Accounts Balance of Payments accounts measure all international transactions in a year. In these problem sets, students are given an opportunity to apply the quantitative-reasoning skills they learned throughout the module. %PDF-1.7 Jacob Resnick - Unit 3_ Aggregate Demand, Aggregate Supply and Fiscal Policy Problem Set-2.pdf, Problem Set 5 Kami version International Trade (1).doc, Screen Shot 2021-07-26 at 10.33.22 PM.png, AP%20Microeconomics%20Unit%201.2%20Guided%20Notes%20Economic%20Systems.docx;filename%2A.docx, ECON 2 - 3rd Week Threaded discussion.docx, Therelativelynewfieldof ecologicaleconomicsisagrand, Which division of the brain contains the thalamus and hypothalamus a, Intracellular Receptors Intracellular signal receptors are found in the, crash_course__christianity_to_judaism WORD DOC.docx, Downloaded by Anas alsulimananasgmailcom lOMoARcPSD20684417 6 Ref er t o Fi gur, algrienne Socit historique 1873 Revue africaine in French La Socit, Satisfactory Not Satisfactory Comments Pre interview and Language Literacy, Page 117 of 216 SK ADVANCED ACCOUNITNG FINANCIAL REPORTING Suggested Answers, people You can look for lots of videos showing the queues to get chicken flour, Answer A D Diff 2 Topic Government and the Market Skill Conceptual 2 TrueFalse 1, Timesheet and-wages-record-template Ana Finished.pdf, What is medical sociology infographic.png, 3CBE73B4-434D-4BF3-A312-451FD719B48A.jpeg, INNOVATION FOR GROWTH The Business Plan seeks to transform the Banks business, BUS 206 5-1 Discussion Workplace Privacy.docx, 1. Give and, Explain why the public sector and not the private sector provides public, (____/10) Assume excessively large SUVs include spillover costs that are not borne. If the money for the transaction is flowing into the country it is positive. YouTube Video: Crash Course Economics #1: Intro to Economics AP ECONOMICS UNIT #6 PROBLEM SET 1. Already enrolled? 4. slowly over time. If Americans wants to AP Macroeconomics Free-Response Practice Test 2. A. _14.01 Principles of Microeconomics_ is an introductory undergraduate course that teaches the fundamentals of microeconomics. Unemployment results from economic downturns (recessions). Which of the following will lead to an increase in human capital? For his house in Guatemala. A good or commodity that grows in worth is Determine the total compensation cost pertaining to the options. 3 0 obj percent change in prices from Year 3 to Year 4 is not 25% because CPI is Price of Market BasketBaseYear, inflation decreased by 10% from the base year to Year 1. They wouldn't be able to use dollars other than using it to buy American products. the decision to engage in one activity means forgoing some . Real IR=Nominal IRExpected Inflation. Youll examine the financial sector and explain how monetary policy is implemented and transmitted through the banking system. Unemployment is caused by the obsoleting of some skills. UNIT 2 AP MACROECONOMICS From Simple Studies, https://simplestudies.edublogs.org & @simplestudiesinc on Instagram UNIT 2: Economic Indicators and the Business Cycle GROSS DOMESTIC PRODUCT (GDP) GDP is the monetary total value of all final goods and services produced in one country in a period of time. cheaper alternative like ethanol. <> This is the core document for the course. Now people in France have dollars. If the production possibilities curve of an economy is CD and the economy is producing at Point X, which of the following is true? Foreign Exchange . Go to AP Central for resources for teachers, administrators, and coordinators. If there was more capital investment within the US than American investments abroad, that's a, This is some Fed stuff. Greenlaw Principles of Macroeconomics for AP Courses 2e covers the scope and sequence requirements for an Advanced Placement macroeconomics course and is . The 2020 free-response questions are available in theAP Classroom question bank. The per-unit cost of production is? improvements in product quality. Individuals are qualified workers with transferable skills but reasons. B. is fixed in the short run YouTube Video: Production Possibilities Curve Shifts In a private closed economy where MPC = 0.8, if consumers reduce their spending by $10 billion and firms cut investments by $5 billion, then equilibrium GDP will decrease by Multiple Choice, 1. Trade deficit is negative net exports where the imports are bigger Unit 4 . interest would suffer because they are getting less real dollars. Please note: Effective June 1, 2022, some questions from previous AP Macroeconomics Exams may no longer perfectly align with the course updates that take effect starting with the May 2023 exam. So, CPI is higher than what consumers are