AP Macroeconomics
GDP, monetary policy, fiscal policy, and international trade.
AP Macroeconomics is about the economy as a whole — GDP, unemployment, inflation, and the policy tools governments and central banks use to manage them. The exam format mirrors AP Micro: 60 multiple choice questions plus 3 free-response questions, with heavy emphasis on the AD/AS model and monetary/fiscal policy graphs.
The modules below cover every topic on the exam in the order most classes teach them. Each one has written content, practice questions with full explanations, and flashcards. Several modules include interactive graphs — especially useful for AD/AS, monetary policy, and exchange rates.
Basic Macroeconomic Concepts
Circular flow, economic systems, and macroeconomic goals.
GDP
Measuring national output, GDP components, and real vs. nominal.
The Business Cycle
InteractiveExpansions, peaks, contractions, troughs, and economic indicators.
Unemployment & Inflation
InteractiveTypes of unemployment, CPI, and the Phillips curve.
Aggregate Demand & Supply
InteractiveAD/AS model, macro equilibrium, output gaps, and macro shocks.
Aggregate Supply
SRAS vs. LRAS and the long-run adjustment process.
Fiscal Policy
InteractiveGovernment spending, taxation, multipliers, and budget deficits.
Monetary Policy
InteractiveThe Federal Reserve, interest rates, and money supply tools.
The Loanable Funds Market
InteractiveSaving, investment, real interest rates, and crowding out.
Economic Growth
Long-run growth, productivity, and expanding the PPC.
International Trade
InteractiveComparative advantage, tariffs, quotas, and trade effects.
Exchange Rates
InteractiveForeign exchange markets, appreciation, and depreciation.