Practice by Topic
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Unit 1: Basic Economic Concepts (60)
  • Scarcity (20)
  • Opportunity cost and the Production Possibilities Curve (10)
  • Comparative advantage and gains from trade (20)
  • Supply and demand (10)
Unit 2: Economic Indicators and the Business Cycle (50)
  • The circular flow and GDP (10)
  • Unemployment (10)
  • Price indices and inflation (10)
  • Real vs. nominal GDP (10)
  • Business cycles (10)
Unit 3: National Income and Price Determination (30)
  • Aggregate demand (0)
  • Short-run and long-run aggregate supply (10)
  • Equilibrium and changes in the Aggregate Demand-Aggregate Supply Model (10)
  • Fiscal policy (10)
Unit 4: Financial Sector (40)
  • Financial assets (10)
  • Definition; measurement and functions of money (10)
  • Banking and the expansion of the money supply (10)
  • Monetary policy (10)
Unit 5: Long-Run Consequences of Stabilization Policies (50)
  • The Phillips Curve (10)
  • Money growth and inflation (10)
  • Government deficits and national debt (10)
  • Crowding out (10)
  • Economic growth (10)
Unit 6: Open Economy—International Trade and Finance (50)
  • Balance of payments accounts (10)
  • Exchange rates and the foreign exchange market (10)
  • Effects of changes in policies and economic conditions on the foreign exchange market (10)
  • Changes in the foreign exchange market and net exports (10)
  • Real interest rates and international capital flows (10)