Ap microeconomics practice exam 2012

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Microeconomics Practice Exam

####### From the 2012 Administration

  • This practice exam is provided by the College Board for AP Exam preparation.

  • Exams may not be posted on school or personal websites, nor electronically redistributed for any reason.

  • Teachers are permitted to download the materials and make copies to use with the students in a classroom setting only.

Contents

Exam Instructions

Student Answer Sheet for the Multiple-Choice Section

Section I: Multiple-Choice Questions

Section II: Free-Response Questions

Multiple-Choice Answer Key

Free-Response Scoring Guidelines

Scoring Worksheet

Note: This publication shows the page numbers that appeared in the 2011−12 AP Exam Instructions book and in the actual exam. This publication was not repaginated to begin with page 1.

© 2012 The College Board. College Board, Advanced Placement Program, AP, SAT and the acorn logo are registered trademarks of the College Board. All other products and services may be trademarks of their respective owners. Permission to use copyrighted College Board materials may be requested online at: collegeboard/inquiry/cbpermit.html.

68 © 2012 The College Board. Visit the College Board on the Web: collegeboard.

Section I: At a Glance

Section II: At a Glance

AP® Microeconomics Exam

Regularly Scheduled Exam Date: Thursday afternoon, May 17, 2012

Late-Testing Exam Date: Wednesday afternoon, May 23, 2012

Total Time: 1 hour, 10 minutes Number of Questions: 60 Percent of Total Score: 66% Writing Instrument: Pencil required

Total Time: 1 hour Number of Questions: 3 Percent of Total Score: 33% Writing Instrument: Pen with black or dark blue ink Reading Period Time: 10 minutes Use this time to read the questions and plan your answers. Writing Period Time: 50 minutes Question 1 Suggested Time: 25 minutes Percent of Section II Score: 50% Question 2 Suggested Time: 12 minutes Percent of Section II Score: 25% Question 3 Suggested Time: 12 minutes Percent of Section II Score: 25%

Section I: Multiple Choice Booklet Instructions

Section II: Free Response Booklet Instructions

Section I of this exam contains 60 multiple-choice questions. Fill in only the circles for numbers 1 through 60 on your answer sheet. Indicate all of your answers to the multiple-choice questions on the answer sheet. No credit will be given for anything written in this exam booklet, but you may use the booklet for notes or scratch work. After you have decided which of the suggested answers is best, completely fill in the corresponding circle on the answer sheet. Give only one answer to each question. If you change an answer, be sure that the previous mark is erased completely. Use your time effectively, working as quickly as you can without losing accuracy. Do not spend too much time on any one question. Go on to other questions and come back to the ones you have not answered if you have time. It is not expected that everyone will know the answers to all of the multiple-choice questions. Your total score on the multiple-choice section is based only on the number of questions answered correctly. Points are not deducted for incorrect answers or unanswered questions.

The questions for Section II are printed in this booklet. You may use page 3 of this booklet to organize your answers and for scratch work, but you must write your answers on the lined pages provided for each question. The proctor will announce the beginning and end of the reading period. You are advised to spend the 10-minute period reading all the questions, and to use page 3 to sketch graphs, make notes, and plan your answers. Do NOT begin writing on the lined pages until the proctor tells you to do so. Write clearly and legibly. Do not skip lines. Cross out any errors you make; crossed-out work will not be scored. Manage your time carefully. You may proceed freely from one question to the next. You may review your responses if you finish before the end of the exam is announced.

69 © 2012 The College Board. Visit the College Board on the Web: collegeboard.

AP Exam Instructions

ECONOMICS

What Proctors Need to Bring to This Exam

  • Exam packets

  • Answer sheets

  • AP Student Packs

  • 2011-12 AP Coordinator’s Manual

  • This book — AP Exam Instructions

  • School Code and Home-School/Self- Study Codes

  • Pencil sharpener

  • Extra No. 2 pencils with erasers

  • Extra pens with black or dark blue ink

  • Lined paper

  • Stapler

  • Watch

  • Signs for the door to the testing room

  • “Exam in Progress”

  • “Cell phones are prohibited in the testing room”

SECTION I: Multiple Choice

!

Do not begin the exam instructions below until you have completed the appropriate General Instructions for your group. Make sure you begin the exam at the designated time.

Macroeconomics If you are giving the regularly scheduled exam, say: It is Thursday morning, May 17, and you will be taking the AP Macroeconomics Exam.

If you are giving the alternate exam for late testing, say: It is Wednesday morning, May 23, and you will be taking the AP Macroeconomics Exam. Microeconomics If you are giving the regularly scheduled exam, say: It is Thursday afternoon, May 17, and you will be taking the AP Microeconomics Exam.

If you are giving the alternate exam for late testing, say: It is Wednesday afternoon, May 23, and you will be taking the AP Microeconomics Exam.

In a moment, you will open the packet that contains your exam materials. By opening this packet, you agree to all of the AP Program’s policies and procedures outlined in the 2011-12 Bulletin for AP Students and Parents. You may now remove the shrinkwrap from your exam packet and take out

71 © 2012 The College Board. Visit the College Board on the Web: collegeboard.

AP Exam Instructions

ECONOMICS

Collect an answer sheet from each student. Check that each answer sheet has an AP number label and an AP Exam label. Then say:

Now you must seal your exam booklet. Remove the white seals from the backing and press one on each area of your exam booklet cover marked “PLACE SEAL HERE.” Fold each seal over the back cover. When you have finished, place the booklet on your desk, face up. I will now collect your Section I booklet….

Check that each student has signed the front cover of the sealed Section I booklet. There is a 10-minute break between Sections I and II. When all Section I materials have been collected and accounted for and you are ready for the break, say:

Please listen carefully to these instructions before we take a 10-minute break. Everything you placed under your chair at the beginning of the exam must stay there. Leave your shrinkwrapped Section II packet on your desk during the break. You are not allowed to consult teachers, other students, or textbooks about the exam during the break. You may not make phone calls, send text messages, check email, use a social networking site, or access any electronic or communication device. Remember, you are not allowed to discuss the multiple-choice section of this exam. Failure to adhere to any of these rules could result in cancellation of your score. Are there any questions?… 12 963 You may begin your break. Testing will resume at.

SECTION II: Free Response After the break, say:

May I have everyone’s attention? Place your Student Pack on your desk…. You may now remove the shrinkwrap from the Section II packet, but do not open the exam booklet until you are told to do so…. Read the bulleted statements on the front cover of the exam booklet. Look up when you have finished…. Now place an AP number label on the shaded box. If you don’t have any AP number labels, write your AP number in the box. Look up when you have finished…. Read the last statement….

Using your pen, print the first, middle and last initials of your legal name in the boxes and print today’s date where indicated. This constitutes your signature and your agreement to the statements on the front cover…. Turn to the back cover and read Item 1 under “Important Identification Information.” Print the first two letters of your last name and the first letter of your first name in the boxes. Look up when you have finished…. In Item 2, print your date of birth in the boxes….

72 © 2012 The College Board. Visit the College Board on the Web: collegeboard.

Economics

In Item 3, write the school code you printed on the front of your Student Pack in the boxes….

Read Item 4…. Are there any questions?… I need to collect the Student Pack from anyone who will be taking another AP Exam. You may keep it only if you are not taking any other AP Exams this year. If you have no other AP Exams to take, place your Student Pack under your chair now…. While Student Packs are being collected, read the information on the back cover of the exam booklet. Do not open the booklet until you are told to do so. Look up when you have finished….

Collect the Student Packs. Then say:

Are there any questions?… Section II begins with a 10-minute reading period. During the reading period, you will read and plan what you will write. Are there any questions?… You may now begin the 10-minute reading period. 12 963 Note Start Time here. Note Stop Time here. Check that students are

writing any notes in the appropriate areas in the Section II booklet. If any students begin writing their responses during this time, remind them that the reading period is not yet over, and that the reading period is designed to provide students with time to develop better organized, higher scoring responses. If the students choose to continue writing responses, take no further action. After 10 minutes, say:

Stop. The reading period is over. You have 50 minutes to complete Section II. You are responsible for pacing yourself, and may proceed freely from one question to the next. You must write your answers in the Section II booklet using a pen. You are not permitted to use other colored pens or pencils to draw graphs or diagrams. If you need more paper during the exam, raise your hand. At the top of each extra piece of paper you use, be sure to write only your AP number and the number of the question you are working on. Do not write your name. Are there any questions?…

You may begin. 12 963 Note Start Time here. Note Stop Time here. Check that students are

using pens and that they are writing their answers in their exam booklets. After 40 minutes, say:

There are 10 minutes remaining.

After 10 minutes, say:

Stop working and close your exam booklet. Place it on your desk, face up….

GO ON TO THE NEXT PAGE.

B

####### Student Answer Sheet for

####### the Multiple-Choice Section

Use this section to capture student responses. (Note that the following answer sheet is a sample, and may differ from one used in an actual exam.)

S. LANGUAGE — Do not complete this section unless instructed to do so.

1 2 3

4 5 6

7 8 9

A B C D E F G H I A B C D E F G H I A B C D E F G H I

A B C D E F G H I A B C D E F G H I A B C D E F G H I

A B C D E F G H I A B C D E F G H I A B C D E F G H I

If this answer sheet is for the French Language and Culture, German Language and Culture, Italian Language and Culture, Spanish Language, or Spanish Literature Exam, please answer the following questions. Your responses will not affect your score.

  1. Have you lived or studied for one month or more in a country where the language of the exam you are now taking is spoken?

  2. Do you regularly speak or hear the language at home?

Yes No Yes No

Indicate your answers to the exam questions in this section. If a question has only four answer options, do not mark option E. Your answer sheet will be scored by machine. Use only No. 2 pencils to mark your answers on pages 2 and 3 (one response per question). After you have determined your response, be sure to completely fill in the corresponding circle next to the number of the question you are answering. Stray marks and smudges could be read as answers, so erase carefully and completely. Any improper gridding may affect your score. Answers written in the multiple-choice booklet will not be scored.

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

1 2 3 4 5 6 7 8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75

ETS USE ONLY

48, 55, 62, 75, 87

R W O OTHER R W O PT02 TOTAL PT PT

DO NOT WRITE IN THIS AREA

R. SURVEY QUESTIONS — Answer the survey questions in the AP Student Pack. Do not put responses to exam questions in this section.

PAGE 2

PAGE 3

DO NOT WRITE IN THIS AREA

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E A B C D E

76 77 78 79 80 81 82 83 84 85 86 87 88 89 90

91 92 93 94 95 96 97 98 99 100 101 102 103 104 105

106 107 108 109 110 111 112 113 114 115 116 117 118 119 120

Be sure each mark is dark and completely fills the circle. If a question has only four answer options, do not mark option E.

QUESTIONS 76–

© 2011 The College Board. College Board, AP, Student Search Service and the acorn logo are registered trademarks of the College Board.

GO ON TO THE NEXT PAGE.

B

####### Section I: Multiple-Choice Questions

This is the multiple-choice section of the 2012 AP exam. It includes cover material and other administrative instructions to help familiarize students with the mechanics of the exam. (Note that future exams may differ in look from the following content.)

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The inclusion of source material in this exam is not intended as an endorsement by the College Board or ETS of the content, ideas, or values expressed in the material. The material has been selected by the economics faculty who serve on the AP Microeconomics Development Committee. In their judgment, the material printed here reflects various aspects of the course of study on which this exam is based and is therefore appropriate to use to measure the skills and knowledge of this course.

Unauthorized copying or reuse of any part of this page is illegal. GO ON TO THE NEXT PAGE. -3-

MICROECONOMICS Section I Time —70 minutes 60 Questions

Directions: Each of the questions or incomplete statements below is followed by five suggested answers or completions. Select the one that is best in each case and then fill in the corresponding circle on the answer sheet.

  1. Which of the following best defines opportunity cost? (A) It is the cost of producing those goods most desired by a given economy. (B) It is the cost of the input mix that will lead to the greatest rate of growth for a given company. (C) It is the amount of one product that must be given up in order to produce an additional unit of another product. (D) It is the use of the least-cost method of production. (E) It is the cost of labor used in the production process.

  2. Which of the following explains why a production possibilities curve is often represented as concave (bowed out) from the origin? (A) The law of demand (B) The law of supply (C) Constant returns to scale (D) Decreasing opportunity cost (E) Increasing opportunity cost

  3. Assume that consumers consider popcorn and pretzels to be substitutes. A significant decrease in the supply of popcorn will affect the pretzel market by (A) increasing the demand for pretzels and therefore the supply of pretzels (B) increasing the demand for pretzels and therefore the price of pretzels (C) decreasing the demand for pretzels and therefore the price of pretzels (D) increasing the supply of pretzels and therefore the price of pretzels (E) decreasing the supply of pretzels and therefore the price of pretzels

Ap microeconomics practice exam 2012

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