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Test Corrections: *Test Corrections count as mandatory HW's *ADD 1/2 credit per question for each row of Test Correction Sheet you complete *Due 1 week after test is given Test Correction Sheet Important Files: Test Correction Sheet AP Economic Syllabus AP Economics Semester Project Previous handouts: REVIEW QUESTIONS This grid shows one way to analyze a decision by identifying the opportunity costs and benefits at the margin. Alternatives Benefit Opportunity Cost 1st hour of extra study time Grade of C on test 1 hour of sleep 2nd hour of extra study time Grade of B on test 2 hours of sleep Macro Test Review Notes #3 . Special Reports. Video Lectures Economics, 1 & 2 Econometrics Economic Thought, History of Educational Audio, Videos Environmental Economics . Subject Crib Notes. Political Economy Book Summaries. Economics. Political Economy. Pre Algebra. Statistics Accounting. Finance . 2. Capitalism Caused Middle-Class Plight. 3 ... ap macroeconomics unit 2 adam smith and the free market. 1/20 - 2/9. unit 2 content map. unit 2 review notes. unit 2 review powerpoint. vocabulary: traditional. barter . coincidence of wants. cascade failure. comparative advantage. absolute advantage. gains from trade. capitalism. invisible hand. specialization. consumer sovereignty. demand ... Unit 1 Test: Introduction to Economics _____ 15 A state government uses federal grant money to build a dam to supply electricity to local citizens. This is an example of A a free rider. B a positive externality. C a negative externality. D a public good. Content Review. Please review the content from the units covered before attempting the exam. The summary notes below are concise outlines of the main points covered in each session, but are presented only as a study aid in reviewing for the exam. They do not provide the in-depth knowledge needed to successfully complete the exam problems. AP Macroeconomics Review - with Answers Page 3 7. Derivation of long-run aggregate supply (LRAS) from short-run aggregate supply (SRAS) curves. 8. Extended AS-AD model with a recession. 9. Extended AS-AD model with a short-run inflationary gap. MyLab™ Economics engages students with real time data, current micro/macro news, adaptive learning, and experiments. Learn more 100% Free AP Test Prep website that offers study material to high school students seeking to prepare for AP exams. Enterprising students use this website to learn AP class material, study for class quizzes and tests, and to brush up on course material before the big exam day. ap macroeconomics unit 2 adam smith and the free market. 1/20 - 2/9. unit 2 content map. unit 2 review notes. unit 2 review powerpoint. vocabulary: traditional. barter . coincidence of wants. cascade failure. comparative advantage. absolute advantage. gains from trade. capitalism. invisible hand. specialization. consumer sovereignty. demand ... 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This book is intended for a one-semester Principles of Macroeconomics course taught out the social sciences or business school. Econ 101 Exam Review Answers: Define: 1. Economics Economics is the study of choice under conditions of scarcity. 2. Opportunity Cost The opportunity cost of any choice is what we must forego when we make that choice.