THE AP EXAM Structure and Strategies. Multiple choice Practice answering multiple choice questions. See websites for practice tests. Macroeconomics:

THE AP EXAM

Structure and Strategies

Multiple choice Practice answering multiple choice questions. See websites for practice tests.

Macroeconomics: http://www.education.com/study-help/article/ap-microeconomics-practice-exam-1/

Microeconomics: http://www.education.com/study-help/article/ap-macroeconomics-practice-exam-1/

Multiple choice section

60 questions 70 minutes

Worth 66.6%

1. Break down the question as you are reading it. Questions will be long – stop as you are reading to jot down notes, draw a graph or process the information!

1. Write in the test booklet to help you process your thinking!

3. Pick out the words you recognize! Ignore the one’s you don’t.

Multiple Choice: Tips

4. BEFORE LOOKING AT CHOICES, think about answer, look at your graphs.

5. Last, look at the answers. Find the best one that fits with your thinking, or key words. If you find one that matches your thinking or the graphs you drew, PICK IT

6. Don’t second guess yourself!

Example

• If a commercial bank has no excess reserves and the reserve requirement is 10%, what is the value of new loans this bank can issue if a new customer deposits $10,000?

• Solve first, then find answer!!!!

choices

A. $100,000

B. $90,333

C. $10,000

D. $9,000

E. $1,000

Example:

If labor costs rise in the automobile industry, which of the following will happen to car prices and the quantity of cars sold?

Draw a graph before looking at choices!

Choices

Prices Quantity sold

a. Decrease decrease

b. Decrease increase

c. Increase decrease

d. Increase increase

e. Increase not change

Free Response

Look at previous FRQ questions and practice them. Grade yourself based on the rubric given.

Sites to visit to see past FRQs and grading rubric:

Macroeconomics: https://apstudent.collegeboard.org/apcourse/ap-macroeconomics/exam-practice

Microeconomics: https://apstudent.collegeboard.org/apcourse/ap-microeconomics/exam-practice

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Free response section

Free Response Questions (60 Minutes)3 Questions

• 1 Long Response Questions • 2 Short Response Questions

10 Minute organization time 50 Minute response time

33.3% of score

• You will receive a booklet with the questions in it – this is for all of your notes. You will need to transfer your answers into the answer booklet.

• BLUE OR BLACK PENS MUST BE USED.

Free Response Tips

1. Do not restate the question.

2. Use correct terminology.

3. If the question requires you to draw a graph, you must do so to

receive full credit.

Even if a graph is not required, it may be to your advantage to draw one anyway

There are no points off for wrong answers; just points given for correct answers

4. Label graphs clearly, correctly, and fully.

label each axis and identify each curve on the graph. Changes in curves should be indicated clearly with arrows or with some clear sequencing, such as showing a change in aggregate supply with AS and AS' or AS1 and AS2.

5. Use the same outline numbers or letters from the question in

your answer

This helps the faculty consultant know where

to look for specific answers to specific parts

of the question. It also helps you remember to

include all parts of the question in your

answer.

6. Many free-response questions are divided into parts such as (a), (b), (c), and (d), with each part calling for a different response

• Credit for each of these parts is awarded independently, so you should attempt to answer them all. If the answer to a later part of a question depends on the answer to an earlier part, you may still be able to receive full credit for the later part, even if the earlier answer is wrong

7. The questions are written in logical order

Complete them in this order!

8. Emphasize the line of reasoning that generated your

answer.• If you make an assertion such as "the price

increased," explain why the price increased.

• Example: Price and quantity decrease (No credit) Aggregate demand decreases, so price and quantity decreases (use word to explain too!)

Past FRQ topics: Macro Year Question 1 Question 2 Question 3

2011 Phillips Curve (SR and LR), AD/AS, fiscal policy, OMO, money market, SR to LR in AD/AS

Loanable funds market, investment demand and real interest rates, forex market, determinant of exchange rates

RR, OMO, money multiplier, bond market

2011 form B AD/AS, determinants of AD, Phillips Curve (SR and LR), automatic fiscal policy, loanable funds market with crowding-out, SR to LR in the AD/AS model

Money market, money demand, bond market, OMO

Forex markets, impact of exchange rates on AD/AS, determinants of exchange rates

Past FRQ topics: Micro

Year Question 1 Question 2 Question 3

2011 Monopoly, profit maximization, efficiency, elasticity, price discrimination

Perfect competition, labor market, marginal cost, PC labor market, MRC and MRP

Market failure, negative externalities, lump-sum tax

2011 form B Perfect competition in the short-run and long-run

Market failure, positive externalities, price ceiling, subsidies

Labor market, monopsony, MRC and MRP, minimum wage

Section 1 is 66.6% of your grade, Section 2 is 33.3%

Scoring

Total Percent AP Grade

70% and above 5

56-69% 4

48 –55% 3

38 –47% 2

37% and below 1

Macroeconomics topics 7:30 – 10:30

Percentage of test

Topic

8-12% Basic economic concepts

12-16% Measuring econ. performance

10-15% National income and Price determination

15-20 % Financial sector

20-30% Inflation, unemployment and stabilization policies

5-10% Economic growth and productivity

10-15% International trade and finance

Microeconomics Topics 11:30 - 2:30

% of test Topic

8-14% Basic concepts

50-70% Nature and function of product markets

10-18% Factor markets

12-18% Market failure and role of government