Aggregate Demand and
Supply and Fiscal Policy
Demand and Supply Review
1. Define Demand and the Law of Demand.
2. Identify the three concepts that explain
why demand is downward sloping.
3. Identify the difference between a change in
The questions contained in this AP Macroeconomics Practice Exam are written to the content
specifications of AP Exams for this subject. Taking this practice exam should provide students with an
Name/Pa: Mr. Davey
Tes’r #3: lndicaTors of Economic Performance
. The major difference beTween real and nominal gross domesTic producT (GDP) is
ThaT real GDP
Excludes governmenT Transfer paymenfs
ls adjusTed for price—level changes using