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AP Macroeconomics

AP · College BoardMacroeconomics1173 cards

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Flashcards for AP Macroeconomics, split into the course's six units and then by numbered topic in the course and exam description's order. Covers definitions, formulae with worked numbers, graphs described in words, fiscal and monetary policy, and the balance of payments. Follows the course and exam description effective Fall 2026.

Adding it gives you your own copy, with every subdeck below. Each card then comes back just before you would forget it, and every one you get right or wrong counts towards your mastery of its topic. You can delete or suspend the parts you are not studying once it is yours.

What is inside (48 subdecks)

  • Unit 1 Basic Economic Concepts163 cards
    • 1.1 Scarcity23 cards
    • 1.2 Graphing and Opportunity Cost and the Production Possibilities Curve (PPC)34 cards
    • 1.3 Comparative Advantage and Gains from Trade30 cards
    • 1.4 Graphing and Demand29 cards
    • 1.5 Graphing and Supply23 cards
    • 1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium24 cards
  • Unit 2 Economic Indicators and the Business Cycle224 cards
    • 2.1 The Circular Flow and GDP39 cards
    • 2.2 Limitations of GDP20 cards
    • 2.3 Unemployment49 cards
    • 2.4 Price Indices and Inflation38 cards
    • 2.5 Costs of Inflation20 cards
    • 2.6 Real v. Nominal GDP29 cards
    • 2.7 Business Cycles29 cards
  • Unit 3 National Income and Price Determination227 cards
    • 3.1 Aggregate Demand (AD)28 cards
    • 3.2 Multipliers40 cards
    • 3.3 Short-Run Aggregate Supply (SRAS)24 cards
    • 3.4 Long-Run Aggregate Supply (LRAS)22 cards
    • 3.5 Equilibrium in the Aggregate Demand-Aggregate Supply (AD-AS) Model20 cards
    • 3.6 Changes in the AD-AS Model in the Short Run27 cards
    • 3.7 Long-Run Self-Adjustment19 cards
    • 3.8 Fiscal Policy25 cards
    • 3.9 Automatic Stabilizers22 cards
  • Unit 4 Financial Sector250 cards
    • 4.1 Financial Assets30 cards
    • 4.2 Nominal v. Real Interest Rates22 cards
    • 4.3 Definition, Measurement, and Functions of Money35 cards
    • 4.4 Banking and the Expansion of the Money Supply47 cards
    • 4.5 The Money Market25 cards
    • 4.6 Monetary Policy62 cards
    • 4.7 The Loanable Funds Market29 cards
  • Unit 5 Long-Run Consequences of Stabilization Policies168 cards
    • 5.1 Fiscal and Monetary Policy Actions in the Short Run20 cards
    • 5.2 The Phillips Curve35 cards
    • 5.3 Money Growth and Inflation25 cards
    • 5.4 Government Deficits and the National Debt20 cards
    • 5.5 Crowding Out19 cards
    • 5.6 Economic Growth28 cards
    • 5.7 Public Policy and Economic Growth21 cards
  • Unit 6 Open Economy: International Trade and Finance141 cards
    • 6.1 Balance of Payments Accounts39 cards
    • 6.2 Exchange Rates23 cards
    • 6.3 The Foreign Exchange Market20 cards
    • 6.4 Effect of Changes in Policies and Economic Conditions on the Foreign Exchange Market24 cards
    • 6.5 Changes in the Foreign Exchange Market and Net Exports16 cards
    • 6.6 Real Interest Rates and International Capital Flows19 cards

Some of its cards

  • Exchange rate
    The price of one currency in terms of another
  • The market value of all final goods and services produced within a country in a given period
    Gross domestic product (GDP)
  • Law of supply
    The positive relationship between the price of a good and the quantity supplied, other things equal
  • A price index that measures the cost of a fixed basket of goods and services in a given year relative to a base year
    Consumer price index (CPI)
  • What happens in the long run to a recessionary gap if there is no government action?
    Wages and prices fall, short-run aggregate supply shifts right and output returns to full employment
  • What are examples of factors that shift the demand for a currency?
    Demand for the country's goods, services or assets, and interest rates and expectations
  • Any asset that is accepted as a means of payment
    Money
  • Government budget deficit
    The amount by which government purchases plus transfer payments exceed tax revenue in a year
  • What is the long run in the aggregate demand and aggregate supply model?
    A period in which all prices and wages are fully flexible
  • An increase in an economy's real output over time
    Economic growth

And 1163 more once you add the deck.