AP Macroeconomics 5
12 December, 2016
All Jobs Matter (the Globalization of America)
Globalization is defined as a process of interaction and integration among the
people, companies, and governments of different nations, a
AP ECONOMICS GLOBALIZATION ESSAY RESOURCES
Collins, Mike. "The Pros and Cons of Globalization." Forbes. Forbes Magazine, 6 May 2015.
Web. 01 Dec. 2016
Law of supply
Change in quantity
Change in supply
What is supply?
Supply is the different quantities of a good that se
1. Explain relationship between scarcity and choices
2. Differentiate between positive & normative
3. Give examples of each of the 4 Factors of
4. Define tradeoffs
5. Define opportunity cost
6. Name 2 different teachers at PMHS?
THE CLASSICAL ECONOMICS
There are circumstances which make up the present condition of human knowledge,
more unlike what have been expected, or more significance of the backward state in which
speculation on the most important subjects still
Circular flow model
The Three Fundamental Questions.
1. What will be produced with our scarce resources?
The Three Basic Questio
Putting Supply and
1. Explain the Law of Demand
2. Explain the Law of Supply
3. Explain why price DOESNT shift the
Rationing function of
Unit 2: Supply, Demand,
and Consumer Choice
Connection to Circular Flow Model
Do individuals supply or demand?
Do business supply or demand?
Who demands in the product market?
Who supplies in the product market?
Economic Schools of Thought: Keynesian Theory
There are 3 theories we focused on for our economic schools of thought. The most
prominent and useful of the these is the Keynesian way of economics.
Keynesian economists are named after John Maynard Keynes, t
Problem Set: Fiscal Policy and graphing practice
Discretionary Fiscal policies involve congress making a new bill that is meant to change
the aggregate demand by increasing or decreasing government spending and taxes. NonDiscretionary Fiscal Policies take
Problem Set: Key Concepts
Marginal Propensity to Consume is defined as the fraction of any change in disposable
income that is consumed. Marginal Propensity to Save is defined as the fraction of any change
that is consumed. You either save or spend, then
Problem Set: Economic Growth
Capitol stock is the combination of common and preferred stock a company is allowed to
issue according to the corporate charter.
Low interest rates make it cheaper to buy more capital goods, and shift the aggregate
Aggregate Demand and
Supply and Fiscal Policy
ACDC Leadership 2015
1. Define Aggregate.
2. Define Aggregate Demand.
3. Explain and give an example of the Real Balances
4. Explain and give an example of the Foreign Trade
functional distribution of income
the manner in which national income is divided among the functions
performed to earn it (or the kinds of resources provided to earn it);
the division of national income into wages and salaries, proprietors'
Macro Unit 2: Macro Measures
1. a.) GDP is the monetary value of all goods and services produced within a nations geographic
borders over a specific amount of time. Consumption involves things consumers buy (ex. durable
goods). Government E