Macro Unit 1- Practice Questions #2

This is a practice quiz for Macroeconomics Unit 1. The questions are designed for AP and college introductory economics. Do your best and feel free to click on the "learn more" link next to each question to go back and rewatch a part of the Unit Summary video. Please subscribe

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Unit 1- Practice Questions #1

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[kevinhoward]

Thank you for being an amazing professor. The world truly needs more people like you.

[deannasmith]

Wish I would have found you when my class first started! I was getting so frustrated because I was going along thinking a lot of MACRO was so easy ( common sense right?), then BAM! I was confused and couldn't wrap my head around a concept.You have helped me understand them in seconds! Never to late to start, hoping to finish this class strong and with less frustration thanks to ACDC Econ! Thanks Jacob!

[simulatrix]

That ending was the best ending to a video I've ever seen!

[rachaelmacleod]

You are great. Thank you so much, I do not know what I would do without your videos! Exam is in 3 weeks.

[leapofaithgaming]

Now this might be going into excessive details, but there are better ways to answer question four. It depends how we measure the time. My first method uses the total time each of them spends and adds them together. My second method uses a single timer and assumes both of them work start working when the timer starts.

If Kevin did both jobs (option b or e), it would take 10 minutes less than the "correct" answer (option d). This method only counts the number of minutes spent working per person.

There is another way to look at it, and it would determine the minimum time required to finish both tasks if they are working simultaneously. Option d suggests Hannah does dishes the whole time and Kevin vacuums for 15 minutes and just chills for 25 and would mean the jobs wouldn't be done for at least 40 minutes. Option C would suggest they both finish both jobs in only 30 minutes. There is an even faster way, but it would involve Hannah vacuuming and Kevin does the dishes until he's done, and helps Hannah vacuum until thats done too. It would take less time than Hannah doing them alone.

[n]

The last one question does not specify whether it is a quantity of demand or supply so it could be increase or decrease right?

[adiarama]

you manage to combine working with having fun! Big thumbs up!!
Also, the "learn more" button is not active for this video

[johnreagan]

The video was extremely helpful and the Wicker Man reference was great. Thanks a bunch!

[whoisit]

I'll keep saying it... YOU ARE THE BESTTT

[adisasinani]

Very helpful!!!I would want to have a profesor like you!!

[joshr]

Is this based on this textbook?: Principles of Macroeconomics by Case, Fair, Oster

[Zoe-kudl]

The "Learn More" buttons aren't working in this one :(((

[jordanmasterson]

@ACDCLeadership was there a #7? I think i am going crazy cause if there was i didn't see it :( Thank you for all your incredible help!! I am taking the AP test tomorrow and thanks to you i am so much better off than i was before watching these videos

[Patronus-tmdj]

would you please explain to me why did you say in the third number that Kevin has an absolute advantage in vacuuming? isn't it about input? which you said the fewer number is the better? Kevin obviously spent less time in both of duties. so I don't understand how would he have an absolute advantage in vacuuming?

[adeebadnan]

there is a mistake in 5:53. The range should be between 2/3 and 1/2 because we are trading sugar not wheat.

[daviddorough]

Answer Key:
🐝🐝🐝🐝







1. B
2. B
3. B
4. D
5. E
6. C
8. B
9. B
10. B
11. B

[zachgoldstein]

You should fix the thumbnail; it says microeconomics instead of macroeconomics.

[FrancescoBosco]

I don't think I understand question 11, or rather, I don't understand why it talks about "quantity" in general, without specifying if we're talking about quantity demanded or quantity supplied. When we remove the price ceiling, obviously price goes up, so the quantity supplied increases, however the quantity demanded decreases right ? So how can we say B is the correct answer without differentiating the two types of quantities ?

[davecullins]

Who cares if it's ugly - as long as the point gets across :)

[maplestage]

Hi Mr.Cliff, I have a question, In question 10. the correct answer is that price increases, demand decreases, and quantity supplied increases. While it makes sense that producers would like to supply more in response in an increase in price, SHOULD they ? If the demand decreases in response to the increase in price, won't increasing quantity supplied mean a surplus ? Thank you for the help as always Mr.Cliff, the practice was useful :)