AP Released Macro Exam

Go to the following link  https://apcentral.collegeboard.org/pdf/ap-macroeconomics-practice-exam-2012.pdf to the 2012 AP Macro Released Exam. Select a question that no one has done yet, copy the question, answer, and your rationale for why it is correct. There is an answer key at the end of the MC section. Once all of the MC questions have been taken, use a section of one of the FRQ questions.

AP Economics Exam Review

From the OG Grand Puba himself, Steve Reff. Pick one of the topics from this site. Check out the video. Give us a synopsis of the lesson. Answer the question "Would it help to look over this prior to the AP Exam.

Planet Money’s t-shirt, comparative advantage and protectionism. A lesson in International Trade

introduction: The purpose of this activity is to reflect on the principle of comparative advantage and better understand how the patterns of global trade are shaped by this fundamental concept. You will watch and read the story of a t-shirt that was manufactured using resources from four separate countries. Next, you will respond to an essay prompt.
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Steps:

1. Read the page that tells the backstory to the Planet Money t-shirt project.
2. Watch the five part documentary 
3. Read the stories behind the t-shirt’s different stages of production:

• Cotton
• Machines
• People
• Boxes

Essay prompt:

A comparative advantage exists when a particular task can be done or a good can be produced at a lower opportunity cost by one nation than by a potential trading partner. When countries specialize in the goods for which they have a comparative advantage, the allocation of resources (land, labor and capital) between nations is more efficient, allowing for a greater level of overall production and income than what is possible without trade.

Carefully explain how the the story of the production of the Planet Money t-shirt demonstrates the principle of comparative advantage.

The Fed Chairman Game

Check out this game created by the Federal Reserve. It deals with exactly what we are studying right now, monetary policy. The game puts you in the position of the Fed Chairman, and you must manipulate interest rates in order to balance unemployment and inflation. Click on the learn more button before playing. Investigate the Fed Toolkit and the other items in the help section. After this play the game. Give me a short summary of your strategy and how it went.