Perfect Competition in the Long-Run
Use the graph below to answer questions 1-2. The figure
shows a perfectly competitive firm that faces demand curve d,
has the cost curves shown, and maximizes profit.
Use the graph below to answer questions
Unit 4: Modules 52-57, 72 Behind the S Curve
15% of the AP Micro Exam
Vocabulary: The acronym chapter!
A list of Key Terms can be found on page 578.
Most important vocabulary: from the table below, be able to define or provide an equatio
Unit 7: Modules 69-73 Factor Markets
10-18% of the AP Micro Exam
Vocabulary: A list of Key Terms can be found on page 719
Most important vocabulary: Derived Demand, VMPL, MRP, MFC, Unions, Monopsony,
marginal productivity theory of incom
Directions: Each of the questions or incomplete statements below is followed by five suggested answers or
completions. Select the one that is best in each case and then fill in the corresponding oval
Microeconomics Review Study Guide
Draw the Following:
1. Perfectly competitive industry. Label equilibrium.
and consumers and producers surplus
2. Perfectly competitive industry. Label price and
quantity for a price floor and a price ceiling.
100 Practice Micro Questions
Which of the following is NOT a characteristic of
perfectly competitive industry?
(A) Free entry into the industry.
(B) Product differentiation.
(C) Perfectly elastic demand curve.
(D) Homogeneous products.
(E) Many sellers
AP Exam/Final Exam Review
The following questions are taken from the first two mid-terms in the 1993 Principles
of Microeconomics course at William and Mary.
Question #1 (12 points)
Briefly answer any three (3) of the following questions. Brie
Midterm Review Sheet
1. Draw the AD-AS model in an inflationary gap.
2. Give three fiscal policies and two monetary policies
that will bring the economy into long-run equilibrium.
3. Draw the AD-AS model in a recessionary gap.
4. Give three
Macroeconomics Key Graphs
The Business Cycle
Short-Run Aggregate Supply
Keynesian Range: Sticky wages make AD perfectly elastic
Intermediate Range: Upward sloping portion
Classical Range: At or near full employment and increase in
AD results in hig
AP US Government
Chapter 1 Constitutional Democracy
Instructions: Answer the questions below. (24 points)
is a government govern by the people, both directly and indirectly, with free and frequent
11.1 What does it take to be a candidate for Congressional Elections and how long are the
House members must be 25 years old when they take office, and citizen for 7 years.
Senators must be 30 and citizen for 9. Also must be resident of
Chapter 3 American Federalism
3-1 Define federalism
Is a form of government in which a constitution distributes authority and powers
between a central government and smaller regional governments.
What are some alternatives to federalism?
Chapter 2 Constitutional Foundation
Describe the structure of the Constitution? country from enemies. In the case the
Constitution is sought out not to provide what the people feel necessary amendments could fill
The Constitution is made up o
civil rights: the rights of all people to be free from irrational discrimination such as that based on
race, religion, gender, or ethnic origin
If it wasnt for civil rights I wouldnt be able to go to school with my friend Tyler.
natural rights: the rights
AP US GOVERNMENT & POLITICS
UNIT ONE: CONSTITUTIONAL UNDERPINNINGS (10-15%)
Define democracy. What makes a society democratic? government by the people; a form
of government in which the supreme power is vested in the people and e
Leadership in Congress
Speaker of the house is john boehner .his job entails him to recognize members,
who rise to speak, rule on the questions of parliament procedures,and appoint
members to contemporary committee .
Majority leader is Eric Cantor. His jo
Human Origins in Africa
I. Scientists search of human origins
Prehistory = No writing
Archaeologists study past cultures
Anthropologists study current cultures
Paleontologists study fossils
Donald Johnson found a complete skeleton 3.
Pyramids on the Nile
a. Nile River source of agriculture, transportation, and water regular flooding
b.i. When floodwaters were low not enough silt was made
b.ii. When floodwaters were high it destroyed buildings
Planned Cities on the Indus
I. The geography of the Indian Subcontinent
a. Called a subcontinent because it is blocked off from the rest of Asia by the
HINOU KOSH to the west & HIMALAYAS to the north
a.i. Large desert in the east that protected the
River Dynasties in China
1. The Geography of China
1. Many natural barriers, water, mountains, and deserts
2. 2 river, Huang (the yellow river) and Chang Jiang (Yangtze)
a. Environmental Challenges
a.i. Dangerous floods
a.ii. Isolated people had to