AP Macroeconomics Semester Exam Review

The equilibrium price isthe price at which 

The board of directors of acorporation is selected by and accountable to the 

Which event inTexas and Alaska would most likely shift the supply curve for oil to the left? 

A market form in which amarket or industry is dominated by a small number of sellers. 

The characteristics describes 

According to the graph, what is the equilibrium pricce? 

A business owned by two or more people who share profits and liabilities

In a command economy- What to Produce? How to Produce? How Much to Produce?

illustration isdemonstrating 

A business owned and managed by one person 

Who hasthe most responsibility for monetary policy? 

What is the elasticity of the demand 

What is Free Enterpriseto Socialism ?

the role of government inthe economy of a nation is to 

If  the country is producing 55 clothing units and 10 food units. What conclusion can you draw

People’s wants areunlimited. 

Fill in the missing pat of the elasticity of demand formaula

What is market regulation 

What historical periodbrought the greatest increase in government involvement in the economy

Use  the information to explain why 1 country has the absoluteadvantage for freezer production

property rights, incentives, economic freedom, competition define what in economics?

The image show what economic term?

a supplier introduces a new product with a successful advertising&an low price,what will result

a supplier introduces a new product with an high price,what will result

According to the graph, what is theequilibrium quantity? 

Unemployment rate may be overstated because it ignores – 

If govt control the growth of the money supply, then should be able to bring ___under control.

Accroding to the graph if a nation produces 20 clothing how much food production can occur?

Single company or group owns all/nearly all of the market for a given type of product/service.

The factors listed affect 

A business owned by group of shareholders  whoshare profits and liabilities

Land, labor, capital and entereneurship are

The right for a business toadvertise is protected by the