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Overview
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Everything you need to prepare for the Advanced Placement® exam, in a study system built around you!
There are many different ways to prepare for an Advanced Placement® exam. What's best for you depends on how much time you have to study and how comfortable you are with the subject matter. To score your highest, you need a system that can be customized to fit you: your schedule, your learning style, and your current level of knowledge.
This book, and the free online tools that come with it, will help you personalize your Advanced Placement® Micro & Macroeconomics prep by testing your understanding, pinpointing your weaknesses, and delivering flashcard study materials unique to you.
The REA AP® All Access system allows you to create a personalized study plan through three simple steps: targeted review of exam content, assessment of your knowledge, and focused study in the topics where you need the most help.
Here's how it works:
Review the Book:
Study the topics tested on the AP® Micro & Macroeconomics exams and learn proven AP® strategies that will help you tackle any question you may see on test day.
Test Yourself and Get Feedback:
As you review the book, test yourself with 7 end-of-chapter quizzes, plus 2 mini-tests (1 for each exam). Score reports from your free online tests and quizzes give you a fast way to pinpoint what you really know and what you should spend more time studying.
Improve Your Score:
Armed with your score reports, you can personalize your study plan. Review the parts of the book where you are weakest, and use the REA Study Center to create your own unique AP® Micro & Macroeconomics e-flashcards, adding to the 100 free cards included with this book.
Visit The REA Study Center for a suite of online tools:
The best way to personalize your study plan is to get frequent feedback on what you know and what you don't. At the online REA Study Center, you can access three types of assessment: topic-level quizzes, mini-tests, and 2 full-length practice tests (1 for AP® Microeconomics and 1 for AP® Macroeconomics). Each of these tools provides true-to-format questions and delivers a detailed score report that follows the topics set by the College Board®.
Topic-Level Quizzes
Short, 18-minute online quizzes are available throughout the review and are designed to test your immediate grasp of the topics just covered.
Mini-Tests
Two online mini-tests cover what you've studied in each half of the book. These tests are like the actual AP® Micro & Macroeconomics exams, only shorter, and will help you evaluate your overall understanding of the subject.
2 Full-Length Practice Tests
After you've finished reviewing the book, take 2 full-length practice tests (1 for AP® Microeconomics and 1 for AP® Macroeconomics) to practice under test-day conditions. Available both in the book and online, these tests give you the most complete picture of your strengths and weaknesses. We strongly recommend that you take the online versions of the exams for the added benefits of timed testing, automatic scoring, and a detailed score report.
Improving Your Score: e-Flashcards
With your score reports from the quizzes and tests, you'll be able to see exactly which topics you need to review. Use this information to create flashcards for the areas where you are weak. Because you will create these flashcards through the REA Study Center, you can access them from any computer or smartphone. Not sure what to put on your flashcards? Start with the 100 free cards included when you buy this book.
Product Details
| ISBN-13: | 9780738610856 |
|---|---|
| Publisher: | Research & Education Association |
| Publication date: | 09/23/2013 |
| Series: | Advanced Placement (AP) All Access |
| Edition description: | First |
| Pages: | 444 |
| Product dimensions: | 8.40(w) x 10.90(h) x 1.30(d) |
| Age Range: | 16 - 18 Years |
About the Author
Mr. Smith earned his B.A. in Philosophy and his M.A. in Social Studies Education from the University of Iowa, Iowa City, Iowa. He has also completed post-graduate work in economics and social studies education at several universities.
Mr. Smith has been honored as a Claes Nobel Educator of Distinction by the National Society of High School Scholars has also been named an Educational Leader and Mentor by the National Youth Leadership Forum on National Security.
Read an Excerpt
Welcome to REA’s All Access for AP Microeconomics and Macroeconomics
A new, more effective way to prepare for your AP exam
There are many different ways to prepare for an AP exam. What’s best for you depends on how much time you have to study and how comfortable you are with the subject matter. To score your highest, you need a system that can be customized to fit you: your schedule, your learning style, and your current level of knowledge.
This book, and the free online tools that come with it, will help you personalize your AP prep by testing your understanding, pinpointing your weaknesses, and delivering flashcard study materials unique to you.
Let’s get started and see how this system works.
How to Use REA’s AP All Access
The REA AP All Access system allows you to create a personalized study plan through three simple steps: targeted review of exam content, assessment of your knowledge, and focused study in the topics where you need the most help.
Here’s how it works:
Review the Book:
Study the topics tested on the AP exam and learn proven strategies that will help you tackle any question you may see on test day.
Test Yourself & Get Feedback:
As you review the book, test yourself. Score reports from your free online tests and quizzes give you a fast way to pinpoint what you really know and what you should spend more time studying.
Improve Your Score:
Armed with your score reports, you can personalize your study plan. Review the parts of the book where you are weakest, and use the REA Study Center to create your own unique e-flashcards, adding to the 100 free cards included with this book.
Finding Your Weaknesses: The REA Study Center
The best way to personalize your study plan and truly focus on your weaknesses is to get frequent feedback on what you know and what you don’t. At the online REA Study Center, you can access three types of assessment: topic-level quizzes, mini-tests, and a full-length practice test. Each of these tools provides true-to-format questions and delivers a detailed score report that follows the topics set by the College Board.
Topic-Level Quizzes
Short, online quizzes are available throughout the review and are designed to test your immediate grasp of the topics just covered.
Mini-Tests
Two online mini-tests (one for microeconomics and one for macroeconomics) cover what you’ve studied in the book. These tests are like the actual AP exam, only shorter, and will help you evaluate your overall understanding of the subject.
Full-Length Practice Test
After you’ve finished reviewing the book, take our full-length exam for microeconomics or macroeconomics (or both) to practice under test-day conditions. Available both in this book and online, these tests give you the most complete picture of your strengths and weaknesses. We strongly recommend that you take the online version of the exam for the added benefits of timed testing, automatic scoring, and a detailed score report.
Improving Your Score: e-Flashcards
Once you get your score reports from the online quizzes and tests, you’ll be able to see exactly which topics you need to review. Use this information to create your own flashcards for the areas where you are weak. And, because you will create these flashcards through the REA Study Center, you’ll be able to access them from any computer or smartphone.
Not quite sure what to put on your flashcards? Start with the 100 free cards (50 for AP Microeconomics and 50 for AP Macroeconomics) included when you buy this book.
After the Full-Length Practice Test: Crash Course
After finishing this book and taking our full-length practice exam, pick up REA’s Crash Course for AP Microeconomics and REA’s Crash Course for Macroeconomics. Use your most recent score reports to identify any areas where you are still weak, and turn to the Crash Course for a rapid review presented in a concise outline style.
Table of Contents
About Research & Education AssociationAcknowledgments
About Our Author
Chapter 1: Welcome to REA’s All Access for AP Microeconomics and Macroeconomics
Chapter 2: Strategies for the Exams
What Will I See on the AP Economics Exams?
Strategies for the Multiple-Choice Section of the Exam
Strategies for the Free-Response Section of the Exam
Chapter 3: Basic Economic Concepts
Economics and Economic Questions
Economic Systems and Fields of Economics
Scarcity, Factors of Production, and Opportunity Cost
The Production Possibilities Curve and Productive Efficiency
Comparative Advantage and Trade
Marginal Thinking and Allocative Efficiency
The Circular Flow Model
Demand, Supply, and Market Equilibrium
Practice, Practice, Practice
Economic Cycles and Thinking Across Time
Quiz 1.................................................... available online at www.rea.com/studycenter
AP Microeconomics
Chapter 4: The Nature and Function of Product Markets
A Closer Look at Demand, Supply, and Equilibrium
Households: Consumer Choice and Utility Maximization
Firms: Costs of Production and Profit Maximization
Four Product Market Structures: An Overview
Quiz 2.................................................... available online at www.rea.com/studycenter
Chapter 5: Factor Markets
New Roles in the Circular Flow
Demand and Supply of Resources
How Firms Maximize Profit
Factor Market Graphical Analysis
Quiz 3.................................................... available online at www.rea.com/studycenter
Chapter 6: Market Failure and the Role of Government
What Is Market Failure?
Externalities
Government Provision of Goods
Taxes
Income Distribution
Quiz 4.................................................... available online at www.rea.com/studycenter
Mini-Test 1............................................ available online at www.rea.com/studycenter
AP Macroeconomics
Chapter 7: Measuring Economic Performance
Gross Domestic Product and National Income
Inflation
Unemployment
Chapter 8: The Aggregate Demand and Aggregate Supply Model
Goal of the Aggregate Demand and Aggregate Supply Model:
Income and Price Determination
Aggregate Demand as a Concept
Net Export Effect
Aggregate Demand’s Components and Their Behavior
Aggregate Supply
Aggregate Supply in the Short Run and the Long Run
Short- and Long-Run Equilibrium in the AD-AS Model
Quiz 5.................................................... available online at www.rea.com/studycenter
Chapter 9: Banking and the Financial Sector
Money and the Money Supply
The Banking Process
Interest Rates, Money Demand, and the Money Market
The Federal Reserve
Chapter 10: Fiscal and Monetary Policies in Action
Fiscal Policy Explained
Fiscal Policy and Interest Rates
Combinations of Fiscal and Monetary Policy
Unemployment and Inflation: The Phillips Curve
Quiz 6 ................................................... available online at www.rea.com/studycenter
Chapter 11: Economic Growth
The Concept of Growth
Determinants of Growth
Growth Policy
Chapter 12: The International Sector, Trade Accounting, and Exchange Markets
Trade Accounting and Balance of Payments Accounts
Foreign Exchange Markets and Exchange Rates
Quiz 7.................................................... available online at www.rea.com/studycenter
Mini-Test 2 ........................................... available online at www.rea.com/studycenter
AP Microeconomics Practice Exam (also available online at www.rea.com/studycenter )
Answer Key
Detailed Explanations of Answers
AP Macroeconomics Practice Exam (also available online at www.rea.com/studycenter )
Answer Key
Detailed Explanations of Answers
Appendices
Key Graphs
Key Formulae
Glossary of Key Economic Terms
Index