A.P. Macroeconomics 2021 - 2022

AP Macroeconomics Homework 2021 - 2022

All of the reading assignments are to be read for the day in class for which they are assigned. The teacher may assign other readings and questions from the text.

Unit V: Inflation, Unemployment, and Stabilization Policies

1/10 296 – 299
1/11 300 – 305
1/12 Readings as assigned
1/13 Readings as assigned and Pg. 363 1 and 2
1/14 FRQ
1/18 307 – 313
1/19 No HW
1/20 Bring Chrome Book to Class
1/21 Quiz on Modules 30 and 31
1/24 315 – 319
1/25 – 1/28 Midterm Period
1/31 AP Long FRQ in class
2/1 321 – Top of 325
2/2 325 – 329
2/3 Pg. 363 8 and 9
2/4 331 – 335 Mid
2/7 335 – 341
2/8 No HW
2/9 Prep for Phillips Curve Activity
2/10 Quiz on Modules 32 – 34
2/11 343 – Top 347
2/14 347 – 353
2/15 FRQ in Class and Pg. 365 13, 15, 16
2/16 No HW
2/17 Bring Chrome Book to class

2/19 – 2/27 February Break

2/28 355 – 359
3/1 Review Sheet for Unit V Exam
3/2 Exam on Unit V: Inflation, Unemployment, and Stabilization Policies

Inflation, Unemployment, and Stabilization Policies

Government Budget Balance
Expansionary Fiscal Policies
Budget Surplus
Budget Deficit
Cyclically Adjusted Budget Balance
Government Borrowing in the Financial Markets to pay for Budget Deficits
Public Debt
Recessionary Gap
Expansionary Gap
Fiscal Policy
“Crowding Out”
Role of the Federal Reserve
Effects of an Open Market Sale of Bonds
Effects of an Open Market Purchase of Bonds
Effects of an Increase in the Money Supply
Effects of a Decrease in the Money Supply
Money Neutrality
Seignorage
Inflation Tax
Positive Output Gap
Negative Output Gap
Impact of Inflation on Money Holdings
Short Run Phillips Curve
Stagflation
Long Run Phillips Curve
Disinflation, and costs of
Deflation
Liquidity Trap
Classical Model of Economics: Assumptions and Beliefs
Keynesian Model of Economics: Assumptions and Beliefs
Monetarist Model of Economics: Assumptions and Beliefs
“Animal Spirits” of Keynes
Modern Consensus of Macroeconomists

Unit VI: Economic Growth and Productivity
3/8 - Module 37: 368 – 373
3/9 - Module 38: 376 – 385
3/10 - Module 39: 387 – 395
3/11 - Long and Short FRQ Quiz
3/14 - Module 40: 398 – 402
3/15 - Review
3/16 - Exam

Unit VI: Economic Growth and Productivity Review

GDP per Capita
Real GDP per Capita
The Rule of 70
Long Run Economic Growth
Productivity
Diminishing Returns to Physical Capital
Increase in Savings and the impact on Long Run Growth
Human Capital
Physical Capital
Technological Progress
Aggregate Production Function
Growth Accounting
Shifts of the Production Function
Importance of Banks to Long Run Growth
Infrastructure
Role of Incentives in Long Run Growth
Higher Growth Rates and Property Rights, Infrastructure, and Natural Resources
Sustainable Development Hypothesis
Convergence Hypothesis
Negative and Positive Externalities