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Advanced Placement (AP) exams are given each May to qualified secondary school students who wish to complete coursework equivalent to a one-semester college introductory class.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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total spending line, recessionary gap, minimum average total cost, socially optimal price, long run aggregate supply curve, marginal factor cost, monopoly pricing power, aggregate demand curve shifts, fundamental economic questions, official reserve position, demand for francs, aggregate supply curve shifts, equilibrium price level, appropriate fiscal policy, price level quantity, zero economic profits, kinked demand curve, unregulated monopolist, marginal physical product, minimum average cost, private marginal benefits, degree ray, equilibrium quantity, average total cost curve, wage elasticity
Key Phrases - Capitalized Phrases (CAPs):
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United States, Multiple-Choice Review Questions, Great Depression, Free-Response Review Questions, Board of Governors, Say's Law, Department of Commerce, New York, Nobel Prize, World War, Fisher's Hypothesis, General Motors, Bank Reserves Change, Firm Market, Item Price Amount Cost Cheese, Price of Francs
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