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首页 5 Steps to a 5 - AP Economics

5 Steps to a 5 - AP Economics.pdf

5 Steps to a 5 - AP Economics

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2009-11-24 0人阅读 举报 0 0 暂无简介

简介:本文档为《5 Steps to a 5 - AP Economicspdf》,可适用于其他资料领域

FIVESTEPSTOAAPMicroeconomicsMacroeconomicsOtherbooksinMcGrawHill’sSTEPSTOAseriesinclude:APBiologyAPCalculusABBCAPChemistryAPComputerScienceAPEnglishLanguageAPEnglishLiteratureAPPhysicsBandCAPPsychologyAPSpanishLanguageAPStatisticsAPUSGovernmentandPoliticsAPUSHistoryAPWorldHistoryWritingtheAPEnglishEssayFIVESTEPSTOAAPMicroeconomicsMacroeconomicsEricRDodgeMCGRAWHILLNewYorkChicagoSanFranciscoLisbonLondonMadridMexicoCityMilanNewDelhiSanJuanSeoulSingaporeSydneyTorontoCopyright©byTheMcGrawHillCompanies,IncAllrightsreservedManufacturedintheUnitedStatesofAmericaExceptaspermittedundertheUnitedStatesCopyrightActof,nopartofthispublicationmaybereproducedordistributedinanyformorbyanymeans,orstoredinadatabaseorretrievalsystem,withoutthepriorwrittenpermissionofthepublisherThematerialinthiseBookalsoappearsintheprintversionofthistitle:AlltrademarksaretrademarksoftheirrespectiveownersRatherthanputatrademarksymbolaftereveryoccurrenceofatrademarkedname,weusenamesinaneditorialfashiononly,andtothebenefitofthetrademarkowner,withnointentionofinfringementofthetrademarkWheresuchdesignationsappearinthisbook,theyhavebeenprintedwithinitialcapsMcGrawHilleBooksareavailableatspecialquantitydiscountstouseaspremiumsandsalespromotions,orforuseincorporatetrainingprogramsFormoreinformation,pleasecontactGeorgeHoare,SpecialSales,atgeorgehoaremcgrawhillcomor()TERMSOFUSEThisisacopyrightedworkandTheMcGrawHillCompanies,Inc(“McGrawHill”)anditslicensorsreserveallrightsinandtotheworkUseofthisworkissubjecttothesetermsExceptaspermittedundertheCopyrightActofandtherighttostoreandretrieveonecopyofthework,youmaynotdecompile,disassemble,reverseengineer,reproduce,modify,createderivativeworksbasedupon,transmit,distribute,disseminate,sell,publishorsublicensetheworkoranypartofitwithoutMcGrawHill’spriorconsentYoumayusetheworkforyourownnoncommercialandpersonaluseanyotheruseoftheworkisstrictlyprohibitedYourrighttousetheworkmaybeterminatedifyoufailtocomplywiththesetermsTHEWORKISPROVIDED“ASIS”McGRAWHILLANDITSLICENSORSMAKENOGUARANTEESORWARRANTIESASTOTHEACCURACY,ADEQUACYORCOMPLETENESSOFORRESULTSTOBEOBTAINEDFROMUSINGTHEWORK,INCLUDINGANYINFORMATIONTHATCANBEACCESSEDTHROUGHTHEWORKVIAHYPERLINKOROTHERWISE,ANDEXPRESSLYDISCLAIMANYWARRANTY,EXPRESSORIMPLIED,INCLUDINGBUTNOTLIMITEDTOIMPLIEDWARRANTIESOFMERCHANTABILITYORFITNESSFORAPARTICULARPURPOSEMcGrawHillanditslicensorsdonotwarrantorguaranteethatthefunctionscontainedintheworkwillmeetyourrequirementsorthatitsoperationwillbeuninterruptedorerrorfreeNeitherMcGrawHillnoritslicensorsshallbeliabletoyouoranyoneelseforanyinaccuracy,errororomission,regardlessofcause,intheworkorforanydamagesresultingtherefromMcGrawHillhasnoresponsibilityforthecontentofanyinformationaccessedthroughtheworkUndernocircumstancesshallMcGrawHillandoritslicensorsbeliableforanyindirect,incidental,special,punitive,consequentialorsimilardamagesthatresultfromtheuseoforinabilitytousethework,evenifanyofthemhasbeenadvisedofthepossibilityofsuchdamagesThislimitationofliabilityshallapplytoanyclaimorcausewhatsoeverwhethersuchclaimorcausearisesincontract,tortorotherwiseDOI:WehopeyouenjoythisMcGrawHilleBook!Ifyou’dlikemoreinformationaboutthisbook,itsauthor,orrelatedbooksandwebsites,pleaseclickhereProfessionalWanttolearnmoreABOUTTHEAUTHOREricRDodgewasborninPortland,OregonandattendedhighschoolinTigard,OregonHereceivedabachelor’sdegreeinBusinessAdministrationfromtheUniversityofPugetSoundinTacoma,WashingtonbeforeattendingtheUniversityofOregonforhismaster’sanddoctoraldegreesinEconomicsWhileattheUniversityofOregonhereceivedtwograduatestudentawardsforteachingandbecameadiehardfanoftheDucksSincehehasbeenteachingeconomicsatHanoverCollegeinHanover,Indiana,theoldestprivatecollegeinthestateTheauthorteachesprinciplesofmicroeconomicsandmacroeconomics,intermediatemicroeconomictheory,laboreconomics,environmentaleconomics,industrialorganization,statistics,andeconometricsSincehehasservedasafacultyconsultantfortheEducationalTestingServicereadingAPfreeresponseexamsHelivesinMadison,Indianawithhiswife,MollyandsonEliCopyright©byTheMcGrawHillCompanies,IncClickherefortermsofuseThispageintentionallyleftblankCONTENTSPreface,ixAcknowledgments,xiIntroduction:TheFiveStepProgram,xiiiSTEPSetUpYourStudyProgram,WhatYouNeedtoKnowAbouttheAPEconomicsExams,HowtoPlanYourTime,STEPDetermineYourTestReadiness,TakeDiagnosticExams,DiagnosticExam:APMicroeconomics,DiagnosticExam:APMacroeconomics,STEPDevelopStrategiesforSuccess,HowtoApproachEachQuestionType,MultipleChoiceQuestions,FreeResponseQuestions,STEPReviewtheKnowledgeYouNeedtoScoreHigh,FundamentalsofEconomicAnalysis,ScarceResources,ProductionPossibilities,FunctionsofEconomicSystems,Demand,Supply,MarketEquilibrium,andWelfareAnalysis,Demand,Supply,MarketEquilibrium,WelfareAnalysis,Elasticity,MicroeconomicPolicy,andConsumerTheory,Elasticity,MicroeconomicPolicyandApplicationsofElasticity,ConsumerChoice,TheFirm,Profit,andtheCostsofProduction,Firms,OpportunityCosts,andProfits,ProductionandCost,MarketStructures,PerfectCompetition,Monopoly,andThingsBetween,PerfectCompetition,Monopoly,MonopolisticCompetition,Oligopoly,Formoreinformationaboutthistitle,clickhereFactorMarkets,FactorDemand,LeastCostHiringofMultipleInputs,FactorSupplyandMarketEquilibrium,ImperfectCompetitioninProductandFactorMarkets,PublicGoods,Externalities,andtheRoleofGovernment,PublicGoodsandSpilloverBenefits,PollutionandSpilloverCosts,IncomeDistributionandTaxStructures,MacroeconomicMeasuresofPerformance,TheCircularFlowModel,AccountingforOutputandIncome,InflationandtheConsumerPriceIndex,Unemployment,Consumption,Saving,Investment,andtheMultiplier,ConsumptionandSaving,Investment,TheMultiplierEffect,AggregateDemandandAggregateSupply,AggregateDemand,AggregateSupply,MacroeconomicEquilibrium,TheTradeoffBetweenInflationandUnemployment,FiscalPolicy,EconomicGrowth,andProductivity,ExpansionaryandContractionaryFiscalPolicy,DifficultiesofFiscalPolicy,EconomicGrowthandProductivity,Money,Banking,andMonetaryPolicy,MoneyandFinancialAssets,FractionalReserveBankingandMoneyCreation,MonetaryPolicy,InternationalTrade,ComparativeAdvantageandGainsfromTrade,BalanceofPayments,ForeignExchangeRates,TradeBarriers,STEPBuildYourTestTakingConfidence,APMicroeconomicsPracticeExam,APMacroeconomicsPracticeExam,APMicroeconomicsPracticeExam,APMacroeconomicsPracticeExam,Appendixes,Bibliography,WebSites,Glossary,ImportantFormulasandConditions,viii❯ContentsPREFACESo,you’vedecidedtobitethebulletandinvestinabookdesignedtohelpyouearnaonyourAPMicroeconomicsandMacroeconomicsexamsCongratulations!YouhavetakenthefirstofmanysmallstepstowardthisgoalAnimportantquestionremains:WhythisbookPrioritynumberone,bothforyourAPcourseandforthisbook,istoprepareyoutodowellenoughontheAPMicroeconomicsandMacroeconomicsexamstoearncollegecreditIfirmlybelievethatthisbookhasacomparativeadvantageoveryourotheroptionsFirst,Ihavewrittenthistextwithacertainconversationalapproach,ratherthanaflurryofformulasanddiagramsthatyoumustrememberSure,somememorizationisrequiredforanystandardizedtest,butamemorizerofformulasisindeeptroublewhenaskedtoanalyzetherelativesuccessofseveralpossibleeconomicpoliciesortodrawfinedistinctionsbetweencompetingeconomictheoriesUsingthisbooktosupplementandreinforceyourunderstandingofthetheoriesandrelationshipsineconomicswillallowyoutoapplyyouranalyticalskillstotheexam,andthisgivesyouasignificantadvantageovertheformulamemorizingexamtakerIfyouspendlesstimememorizingformulasandtaketheextratimetounderstandthebasics,youwillgetalongjustfinewiththisbook,andyouwilldoextremelywellontheAPEconomicsexamsSecond,asacollegeprofessorwhohastaughteconomicstothousandsofstudents,IhaveastrongunderstandingofwherethelearninghappensandwherethemistakesaremadeThird,asareaderofAPexams,IcantellyouwherepointsarelostandwhereaismadeonthefreeresponsequestionsMostimportantly,IamarealistYouwanttoknowwhatittakestoearnaandnotnecessarilythefinerpointsoftheFederalReserveSystem,theShermanAntitrustAct,ortheNAFTATakethetimetoreadthefirstfourchaptersofthisbook,whicharedesignedtohelpyouunderstandthechallengethatliesaheadandtoprovideyouwithtipsforsuccessontheexamTakeeachdiagnosticexamtoseewhereyoustandbeforebeginningyourreviewThebulkofthisbookisacomprehensivereviewofeconomicswithpracticequestionsattheendofeachchapterThesequestionsaredesignedtoquicklytestyourunderstandingofthematerialpresentedineachchapter,notnecessarilytomirrortheAPexamsForexamquestionsthataremoretypicalofwhatyouwillexperienceinMay,IhaveprovidedyouwithtwopracticeexamsinbothmicroeconomicsandmacroeconomicsThesearepracticeexamscompletewithessayquestions,sampleresponses,andscoringguidelinesThereareacoupleofimportantupdatesinthiseditionIhaveexpandedcoverageofgametheorybecausethereisagrowinguseofgametheoryintheAPMicroeconomicscurriculum,inintroductorytextbooks,andcollegecoursesForseveralyears,thepeoplewhodeveloptheAPexamhavebeenurginghighschoolteacherstodevotemoretimetogametheoryThisisusuallyastronghintofafuturefreeresponsequestion,andinthetestdevelopmentcommitteeincluded,fortheveryfirsttime,agametheoryquestioninthefreeresponsesectionoftheMicroeconomicsexamOneofthepracticeCopyright©byTheMcGrawHillCompanies,IncClickherefortermsofusex❯PrefaceMicroeconomicsexamsinthisbookprovidesyouwithagametheoryfreeresponsequestionthatwillhelpyoutoprepareforatopicthatwillsurelyappearagainIntheMacroeconomicscurriculum,IhavemadeimportantchangesinthetreatmentofthemoneymarketandmarketforloanablefundsIhavealso,basedupontheinputofrespectedhighschooleconomicsteachers,triedtoincreasethedegreeofdifficultyonthemacroeconomicsfreeresponsequestionstogiveyouabettersenseofwhatawaitsyouinMayIdon’tseeanyreasontocontinuetalkingaboutthebookwhenwecouldjustdiveinIhopethatyouenjoythisbook,andthatyoufinditausefulresourceGoodluck!ACKNOWLEDGMENTSTheeditionofthisbookwasgreatlyimprovedbyinputfromthefollowingoutstandingteachersofeconomics:MichaelBrodyattheMenloSchoolinAtherton,CaliforniaLeahKilfoyleatMountainBrookHighSchoolinMountainBrook,AlabamaMatthewPedlowatChelseaHighSchoolinChelsea,MichiganMargaretRayattheUniversityofMaryWashingtoninFredericksburg,VirginiaandStevenReffatPuebloHighSchoolinTucson,ArizonaDonReiscontributedvaluableeditorialsuggestionsand,perhapsmoreimportantly,brokeredafewdealsalongthewayMysonEliprovidedcomicrelief,inspiration,andjoythroughoutthisprojectThankyouforallofthoselongnapssoDaddycouldfinishFinally,IamverythankfultomywifeMolly,whocontinuestowonder,occasionallyaloud,howshecouldhavemarriedthewrongkindofdoctorCopyright©byTheMcGrawHillCompanies,IncClickherefortermsofuseThispageintentionallyleftblank❮xiiiKEYIDEAINTRODUCTION:THEFIVESTEPPROGRAMTheBasicsNottoolongago,youagreedtoenrollinAPMicroeconomicsorMacroeconomicsMaybeyousawaflyerandtheallureofeconomicknowledgewasjusttoomuchtoresist,ormaybearespectedteacherencouragedyoutochallengeyourselfandyoutookthebaitEitherway,youfindyourselfhere,flippingthroughabookthatpromisestohelpyouculminatethislifechangingexperiencewiththehighestofhonors,ainAPEconomicsCanitbedonewithoutthisbookSure,therearemanyexcellentteachersofAPEconomicsouttherewhoteach,coax,andcajoletheirstudentsintoaeveryyearButforthemajorityofstudentsinyourshoes,themarginalbenefitsofbuyingthisbookfaroutweighthemarginalcostsIntroducingTheFiveStepPreparationProgramThisbookisorganizedasafivestepprogramtoprepareyouforsuccessontheexamsThesestepsaredesignedtoprovideyouwiththeskillsandstrategiesvitaltotheexamandthepracticethatcanleadyoutothatperfectEachofthefivestepswillprovideyouwiththeopportunitytogetcloserandclosertothatprizetrophyHerearethefivestepsStep:SetUpYourStudyProgramInthisstepyou’llreadabriefoverviewoftheAPEconomicsexamsbothinmicroeconomicsandinmacroeconomics,includinganoutlineoftopicsandtheapproximatepercentageoftheexamthatwilltestknowledgeofeachtopicYouwillalsofollowaprocesstohelpdeterminewhichofthefollowingpreparationprogramsisrightforyou:•Fullschoolyear:SeptemberthroughMay•Onesemester:JanuarythroughMay•Sixweeks:BasictrainingfortheexamStep:DetermineYourTestReadinessInthisstepyou’lltakediagnosticexamsinmicroeconomicsandmacroeconomicsThesepretestsshouldgiveyouanideaofhowpreparedyouaretotakebothoftherealexamsbeforebeginningtostudyforthem•Gothrougheachdiagnosticexamstepbystepandquestionbyquestiontobuildyourconfidencelevel•ReviewthecorrectanswersandexplanationssothatyouseewhatyoudoanddonotyetfullyunderstandTherearetwoAPexamsineconomics:MicroeconomicsandMacroeconomicsWhenIrefertobothexams,IjustcallthemtheAPEconomicsexamsCopyright©byTheMcGrawHillCompanies,IncClickherefortermsofuseStep:DevelopStrategiesforSuccessInthisstepyou’lllearnstrategiesthatwillhelpyoudoyourbestontheexamThesestrategiescoverboththemultiplechoiceandfreeresponsesectionsoftheexamSomeofthesetipsarebaseduponmyunderstandingofhowthequestionsaredesigned,andothershavebeengleanedfrommyyearsofexperiencereading(grading)theAPEconomicsexams•Learntoreadmultiplechoicequestions•Learnhowtoanswermultiplechoicequestions,includingwhetherornottoguess•LearnhowtoplanandwritethefreeresponsequestionsStep:ReviewtheKnowledgeYouNeedtoScoreHighInthisstepyou’lllearnorreviewthematerialyouneedtoknowforthetestThisreviewsectiontakesupthebulkofthisbookItcontains:•Acomprehensivereviewofmicroeconomics•AcomprehensivereviewofmacroeconomicsStudyingforoneexamisdauntingenough,butstudyingfortwoexams,inonesubjectarea,canbeunsettlingThereisalotofmaterialhere,enoughtosummarizeayearlongexperienceinAPMicroeconomicsandMacroeconomicsandhighlightthe,well,highlightsSomeAPcourseswillhavecoveredmorematerialthanyours,somewillhavecoveredless,butthebottomlineisthatifyouthoroughlyreviewthismaterial,youwillhavestudiedallthatistestedontheexam,andyouwillhavesignificantlyincreasedyourchancesofscoringwellThis–editiongivesnewemphasistosomeareasofthemicroeconomicandmacroeconomiccontenttobringyourreviewmoreinlinewithrecentexamsForexample,thereismorediscussionofefficiencyandgametheoryinthemicroeconomicsreviewandmorediscussionofthemarketforloanablefundsinthemacroeconomicsreviewStep:BuildYourTestTakingConfidenceInthisstepyou’llcompleteyourpreparationbytestingyourselfonpracticeexamsThissectioncontainstwocompleteexamsinmicroeconomicsandmacroeconomics,solutions,and,sometimesmoreimportantly,adviceonhowtoavoidthecommonmistakesOnceagain,the–editionofthisbookhasupdatedthefreeresponseexamstomoreaccuratelyreflectthecontenttestedonrecentAPexamsBeawarethatthesepracticeexamsarenotreproducedquestionsfromactualAPEconomicsexams,buttheymirrorboththematerialtestedbyAPandthewayinwhichitistestedLastly,atthebackofthisbookyou’llfindadditionalresourcestoaidyourpreparationTheseinclude:•AsummaryofformulasrelatedtotheAPEconomicsexams•AglossaryoftermsrelatedtotheAPEconomicsexams•AlistofWebsitesrelatedtotheAPEconomicsexams•Abriefbibliographyxiv❯Introduction:TheFiveStepProgramIntroductiontotheGraphicsUsedinthisBookToemphasizeparticularskillsandstrategies,weuseseveraliconsthroughoutthisbookAniconinthemarginwillalertyoutopayparticularattentiontotheaccompanyingtextWeusethesethreeicons:ThisiconindicatesaveryimportantconceptorfactthatyoushouldnotpassoverThisiconcallsyourattentiontoastrategythatyoumightwanttotryThisiconalertsyoutoatipthatyoumightfindusefulBoldfacedwordsindicatetermsthatareincludedintheglossaryattheendofthisbookThroughoutthebookyouwillalsofindmarginalnotes,boxes,andstarredareasPaycloseattentiontotheseareasbecausetheycanprovidetips,hints,strategies,andfurtherexplanationstohelpyoureachyourfullpotentialIntroduction:TheFiveStepProgram❮xvKEYIDEASTRATEGYTIPThispageintentionallyleftblankFIVESTEPSTOAAPMicroeconomicsMacroeconomicsThispageintentionallyleftblankSetUpYourStudyProgramCHAPTERWhatYouNeedtoKnowAbouttheAPEconomicsExamsCHAPTERHowtoPlanYourTimeSTEPCopyright©byTheMcGrawHillCompanies,IncClickherefortermsofuseThispageintentionallyleftblank❮WhatYouNeedtoKnowAbouttheAPEconomicsExamsINTHISCHAPTERSummary:Learnwhattopicsaretested,howthetestisscored,andbasictesttakinginformationKeyIdeas✪Mostcollegeswillawardcreditforascoreofor✪Multiplechoicequestionsaccountfortwothirdsofyourfinalscore✪Onequarterofapointisdeductedforeachwrongansweronmultiplechoicequestions✪Freeresponsequestionsaccountforonethirdofyourfinalscore✪Yourcompositescor

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5 Steps to a 5 - AP Economics

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