AP Macroeconomics

Measuring national output, GDP components, and real vs. nominal.

Expansions, peaks, contractions, troughs, and economic indicators.

Types of unemployment, CPI, and the Phillips curve.

AD/AS model, macro equilibrium, output gaps, and macro shocks.

SRAS vs. LRAS and the long-run adjustment process.

Government spending, taxation, multipliers, and budget deficits.

The Federal Reserve, interest rates, and money supply tools.

Saving, investment, real interest rates, and crowding out.

Long-run growth, productivity, and expanding the PPC.

Comparative advantage, tariffs, quotas, and trade effects.

Foreign exchange markets, appreciation, and depreciation.