Ap Economics Chapter 10 Quiz

947 Words4 Pages
AP ECONOMICS: CHAPTER 10 QUIZ 1. A private closed economy includes: A. households, businesses, and government, but not international trade. B. households, businesses, and international trade, but not government. C. households and businesses, but not government or international trade. D. households only. 2. Refer to the above data. The MPS is: A. 7/10. B. 3/10. C. 2/5. D. 3/5. 3. Refer to the above data. At the $370 billion level of DI the APS is approximately: A. 4 percent. B. 7 percent. C. 1 percent. D. 16 percent. 4. Refer to the above data for a private closed economy. If gross investment is $12 billion, the equilibrium level of GDP will be: A. $380. B. $370. C. $360. D. $350. 5. The equilibrium level of GDP in a private closed economy is where: A. MPC = APC. B. unemployment is about 3 percent of the labor force. C. consumption equals saving. D. aggregate expenditures equal GDP. 6. Refer to the above diagram for a private closed economy. The equilibrium GDP is: A. $60 billion. B. $180 billion. C. between $60 and $180 billion. D. $60 billion at all levels of GDP. 7. At equilibrium real GDP in a private closed economy: A. the MPC must equal the APC. B. the slope of the aggregate expenditures schedule equals the MPS. C. aggregate expenditures and real GDP are equal. D. planned saving and consumption are equal. 8. If the above economy was closed to international trade, the equilibrium GDP and the multiplier would be: A. $300 and 5. B. $350 and 4. C. $400 and 4. D. $350 and 5. 9. Refer to the above table. For the open economy the equilibrium GDP and the multiplier are: A. $300 and 2.5. B. $450 and 5. C. $400 and 4. D. $400 and 5. 10. If net exports decline from zero to some negative amount, the aggregate expenditures schedule would: A. shift upward. B. shift downward. C.

More about Ap Economics Chapter 10 Quiz

Open Document