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2024 AP Macroeconomics Exam Guide

7 min read • august 18, 2023

Your Guide to the 2024 AP Macroeconomics Exam

We know that studying for your AP exams can be stressful, but Fiveable has your back! We created a study plan to help you crush your AP Macroeconomics exam. This guide will continue to update with information about the 2024 exams, as well as helpful resources to help you do your best on test day.  Unlock Cram Mode  for access to our cram events—students who have successfully passed their AP exams will answer your questions and guide your last-minute studying LIVE! And don't miss out on unlimited access to our database of thousands of practice questions.

Format of the 2024 AP Macroeconomics Exam

This year, all AP exams will cover all units and essay types. The 2024 AP Macroeconomics exam format will be:

Section I: Multiple Choice —66% of score 

You will have an hour and ten minutes to answer 60 questions. 

Section II: Free Response—33% of score 

1 hour to respond to three FRQs

1 long free response question (50% of section score) 

2 short free response questions (50% of section score) 

When is the 2024 AP Macroeconomics exam and how do I take it?

You will have 2 hours and 10 minutes to take the exam. Unlock Cram Mode to get updates on the latest 2024 exam news. 

How Should I Prepare for the Exam?

First, download the AP Macroeconomics Cheatsheet PDF - a single sheet that covers everything you need to know at a high level. Take note of your strengths and weaknesses! 

We've put together the study plan found below to help you study between now and May. This will cover all of the units and essay types to prepare you for your exam. Pay special attention to the units that you need the most improvement in.

Study, practice, and review for test day with other students during our live cram sessions via  Cram Mode . Cram live streams will teach, review, and practice important topics from AP courses, college admission tests, and college admission topics. These streams are hosted by experienced students who know what you need to succeed.

Pre-Work: Set Up Your Study Environment

Before you begin studying, take some time to get organized.

🖥 Create a study space.

Make sure you have a designated place at home to study. Somewhere you can keep all of your materials, where you can focus on learning, and where you are comfortable. Spend some time prepping the space with everything you need and you can even let others in the family know that this is your study space. 

📚 Organize your study materials.

Get your notebook, textbook, prep books, or whatever other physical materials you have. Also, create a space for you to keep track of review. Start a new section in your notebook to take notes or start a Google Doc to keep track of your notes. Get yourself set up!

📅 Plan designated times for studying.

The hardest part about studying from home is sticking to a routine. Decide on one hour every day that you can dedicate to studying. This can be any time of the day, whatever works best for you. Set a timer on your phone for that time and really try to stick to it. The routine will help you stay on track.

🏆 Decide on an accountability plan.

How will you hold yourself accountable to this study plan? You may or may not have a teacher or rules set up to help you stay on track, so you need to set some for yourself. First, set your goal. This could be studying for x number of hours or getting through a unit. Then, create a reward for yourself. If you reach your goal, then x. This will help stay focused!

AP Macroeconomics 2024 Study Plan

💸 unit 1: basic economic concepts , big takeaways .

Unit 1 is an introductory unit that delves into basic economic concepts such as equilibrium, supply and demand, and opportunity costs. Additionally, this unit introduces models and graphs that come up often in FRQs and will prepare students for further analysis in the later units! 

Definitely do this: 

📚 Read these study guides:

1.0 Unit 1 Overview

1.1 Scarcity

1.2 Opportunity Cost and the Production Possibilities Curve (PPC)

1.3 Comparative Advantage and Trade

1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium

🎥 Watch these videos:

Complete Unit 1 Review by Jacob Clifford

How to Draw a PPC by Khan Academy: learn how to draw production possibility curves

Opportunity Cost Tables by Khan Academy: learn how to use production possibility curves to create a table and determine comparative advantage 

📰 Check out these articles:

Unit 1 Basic Economic Concepts

✍️ Practice:

Unit 1 Video Quiz by Jacob Clifford

2019 Free-Response Questions : Question 3, parts a-d address unit 1 topics 

Unit 1 Practice FRQs by Ms. Lopiccolo and key

If you have more time or want to dig deeper: 

Check out this Quizlet for vocab review!

📈 Unit 2: Economic Indicators and the Business Cycle

The majority of this unit deals with how economic phenomena are measured. In this unit, students will be exposed to topics such as GDP, unemployment, inflation, and business cycles. Finally, students will learn how to differentiate between real and nominal GDP.

2.0 Unit 2 Overview

2.1 Circular Flow and GDP

2.2 Limitations of GDP

2.3 Unemployment

2.4 Price Indices and Inflation

2.5 Costs of Inflation

2.6 Real vs Nominal GDP

2.7 Business Cycles

Complete Unit 2 Review by Jacob Clifford

Unit 2 FRQ Video Quiz by College Board: review key terms and practice unit 2 FRQs 

Unit 2: Economic Indicators and the Business Cycle

Unit 2 Practice FRQs by Ms. Lopiccolo and key

If you have more time or want to dig deeper:

Unemployment Rate by Year : dig into how recessions and business cycles impact unemployment rates.

💲 Unit 3: National Income and Price Determination

This unit focuses on the concepts of aggregate demand , short and long-run aggregate supply, and how changes in the economy can affect employment and national income. This unit contains a lot of important concepts that will show up on the FRQ section of the AP exam! 

3.1 Aggregate Demand

3.2 Multipliers

3.3 Short-Run Aggregate Supply (SRAS)

3.4 Long-Run Aggregate Supply (LRAS)

3.5 Equilibrium in Aggregate Demand-Aggregate Supply (AD-AS) Model

3.6 Changes in the AD-AS Model in the Short Run

3.7 Long-Run Self-Adjustment

3.8 Fiscal Policy

3.9 Automatic Stabilizers

Complete Unit 3 Review by ReviewEcon

Aggregate Demand Models by Jacob Clifford 

Unit 3: National Income and Price Determination

Lesson summary: aggregate demand (Khan Academy)

Unit 3 Practice FRQs by Ms. Lopiccolo and key

2019 Free Response Questions : Question 1 addresses unit 3 topics 

💰 Unit 4: Financial Sector 

This unit dives into the financial sector which encompasses financial assets, interest rates, monetary policies, banking, and the loanable funds market . 

4.0 Unit 4 Overview

4.1 Financial Assets 💰

4.2 Nominal vs. Real Interest Rates

4.3 Definition, Measurement, and Functions of Money

4.4 Banking and the Expansion of the Money Supply

4.5 The Money Market

4.6 Monetary Policy

4.7 The Loanable Funds Market

Complete Unit 4 Review by ReviewEcon

Functions of Money by Jacob Clifford

Unit 4: Financial Sector

Unit 4 Practice by Jacob Clifford

⚖️ Unit 5: Long-run Consequences of Stabilization Policies 

Learn how economic conditions can be improved through fiscal policies. Students will also learn how to examine the Phillips Curve , money growth, and other types of economic growth . 

5.0 Unit 5 Overview

5.1 Fiscal and Monetary Policy Actions in the Short-Run

5.2 The Phillips Curve

5.3 Money Growth and Inflation

5.4 Deficits and the National Debt

5.5 Crowding Out

5.6 Economic Growth

5.7 Public Policy and Economic Growth

Complete Unit 5 Review by ReviewEcon

Phillips Curves by Khan Academy: learn how to draw and interpret Phillips Curves.

Unit 5: Long-Run Consequences of Stabilization Policies 

Unit 4/5 Practice FRQs by Ms. Lopiccolo 

🏗 Unit 6: Open Economy- International Trade and Finance 

Building on concepts from units 1-5, this unit dives into the idea of an open economy which is when one country interacts with other countries. Additionally, this unit introduces the concept of foreign exchange markets. 

6.0 Unit 6 Overview

6.1 Balance of Payments Accounts

6.2 Exchange Rates

6.3 Foreign Exchange Market

6.4 Effect of Changes in Policies & Economic Conditions on the Foreign Exchange Market

6.5 Changes in the Foreign Exchange Market and Net Exports

Complete Unit 6 Review by ReviewEcon

Unit 6: Open Economy- International Trade and Finance

2019 Free Response Questions : Question 2 addresses unit 6 topics 

Key Terms to Review ( 20 )

Aggregate demand

Aggregate Demand-Aggregate Supply (AD-AS) Model

Balance of Payments Accounts

Crowding Out Effect

Deficits and National Debt

Economic Growth

Exchange Rates

Fiscal Policy

Foreign exchange market

Free Response Questions (FRQs)

Loanable Funds Market

Long-Run Aggregate Supply (LRAS)

Monetary Policy

Money Growth and Inflation

Money Market

Money Supply

Multiple Choice

Nominal vs. Real Interest Rates

Phillips Curve

Short-run Aggregate Supply (SRAS)

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AP®︎/College Macroeconomics

Unit 1: basic economics concepts, unit 2: economic indicators and the business cycle, unit 3: national income and price determination, unit 4: financial sector, unit 5: long-run consequences of stabilization policies, unit 6: open economy: international trade and finance, unit 7: ap®︎ macroeconomics standards mappings, unit 8: resources and exam preparation.

AP Macroeconomics Free Response Questions

Ap macroeconomics free response.

All the resources that you need to succeed on the AP Macro FRQ section. Be sure to review the prior year questions along with the solutions videos. This will teach you how to approach these questions.

Prior Year Questions

How to answer macro question 1, how to answer macro questions 2 & 3, frq topic analysis, explanation for 2018 frq, explanation for 2017 frq, explanation for 2016 frq.

AP Macroeconomics | Practice Exams | Free Response | Notes | Videos |  Study Guides

Tools & Calculators

Ap® macroeconomics score calculator.

• The Albert Team
• Last Updated On: January 29, 2024

If you’re looking for an AP® Macroeconomics score calculator, you’ve come to the right place. See how you would score on the AP® Macroeconomics exam if you were to use previously released exam curves.

Looking for extra help in preparing for AP® Macroeconomics? Check out our AP® Macroeconomics section for tons of review articles or explore The Best AP® Macroeconomics Review Guide for 2022 .

If you’re an educator interested in boosting your AP® Macroeconomics student outcomes, let us know and we’ll tell you how you can get started on Albert for free!

How are you projecting the 2021 scoring curve?

At this time, the College Board has not officially released a scoring worksheet that reflects the latest changes in AP® Macroeconomics. In order to create our projected curve, what we have done is taken the relative percentages of the MCQ and FRQ as well as the point values of each question as outlined In the scoring guidelines released for 2019-2020 here .

AP® Macroeconomics

Enter your scores.

Section I: Multiple-Choice

Section II: Free Response - Q1 - Long

Section II: Free Response - Q2 - Short

Section II: Free Response - Q3 - Short

Section II: Free Response - Question 1

Section II: Free Response - Question 2

Section II: Free Response - Question 3

Choose your score curve

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Did you find this helpful? Click here to share this calculator on Twitter .

Looking for ap® macroeconomics study materials .

Also, check out this reference for the best AP® Macroeconomics review books .

What is a good AP® Macroeconomics score?

For all the Advanced Placement exams, a score of 3 or higher is a passing score. Specifically, the College Board defines a 3 as “qualified”, a 4 as “well qualified” and a 5 as “extremely well qualified.” The “qualified” in these scores refers to whether or not a student is qualified to receive college credit for taking the exam. A majority of colleges award credit for a passing score on any AP® exam. You can check the specific policy of a school on the College Board website here .

It is also important to note the pass rate. In 2020, 122,639 students took the AP® Macroeconomics exam and 63.2% of them passed, with the largest percent of students achieving a 4. You can reference the latest 2020 student score distributions here .

What is the average AP® Macroeconomics score?

Since the exam is curved, the average score changes year by year. This is due to a number of factors, including a revised exam format, a different student population taking the exam, and different questions. For example, in recent years the average scores were 2.89 in 2014, 2.79 in 2015, 2.89 in 2016, 2.89 in 2017, 2.96 in 2018, 2.94 in 2019 and 3.07 in 2020. So, the average score over the past 7 years was around 2.92.

Why are AP® Macroeconomics scores curved?

The main reason why the Advanced Placement exams are curved is to maintain consistency over the years. Since the specific test questions change year by year, curving the test allows the College Board to normalize the raw scores. Theoretically, the same student should get the same score, no matter which version of the test he or she takes. Also, the Advanced Placement program as a whole is designed to model college courses, many of which are curved.

How do I get a 5 on AP® Macroeconomics?

Great question! First, it is important to note that on average, around 17% of test takers achieve the top score. It is definitely challenging, but by no means impossible. There isn’t a magic secret to getting a 5. It takes careful content knowledge, targeted practice and dedication to studying, but it can be done.

Albert provides a large collection of resources for this exam. Here are a few general resources to guide your revision:

• How to Study for AP® Macroeconomics
• One Month AP® Macroeconomics Study Guide
• 6 Ways to Score Big on the AP® Macroeconomics Multiple Choice

There are also topic specific review guides to help you. Search the website to find various Crash Course AP® Microeconomics pages. Here’s an example;

Production Possibilities Curve .

Finally, for multiple choice question practice, access Albert’s study guide page. Here, multiple choice questions are broken up based on topic, so you can target your revision to the subjects you need the most help on.

Why should I use this AP® Macroeconomics score calculator?

Our Advanced Placement Macroeconomics score calculator uses the official College Board score calculation worksheets from previously released exams, so it is highly accurate and up-to-date. Grading any practice exams that you take will also give you a general idea of what to expect on exam day. Finally, knowing roughly how well you have to do in order to get the score you want can be a great confidence booster, which can actually help you do better on the exam overall.

Looking for AP® Macroeconomics practice?

Kickstart your AP® Macroeconomics prep with Albert. Start your AP® exam prep today .

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Choose Your Test

Sat / act prep online guides and tips, the ultimate ap macroeconomics cheat sheet (graphs included).

Advanced Placement (AP)

Each year, around 20% of test takers score a 5 on the AP Macroeconomics exam. (no pressure, right?) If you want to be one of those top scorers, you need to really understand the graphs and equations that will help you make tough calculations during the exam. 

To help you with that, we’ve put together a complete AP Macroeconomics cheat sheet that you can use to prepare for the exam! In this article, we’ll tell you everything you need to know about our AP Macroeconomics cram sheet, including the following: 

• A quick refresher on what the AP Macro exam covers 
• A full overview of what’s included in the AP Macro cheat sheet (graphs, equations, and key terms are all covered!)
• An explanation of how to use the AP Macro cheat sheet
• Our four best tips for how to study for the AP Macro exam

There’s a lot to cover, so let’s get started!

The AP Macroeconomics Exam

The AP Macro exam runs for a total of two hours and 10 minutes (130 minutes) and is divided into two sections. Section I consists of 60 multiple choice questions and lasts for one hour and 10 minutes. This section makes up 66% of your overall exam score. Section II is made up of three free response questions. You’ll get one hour to complete Section II, including a 10 minute reading period. Section II makes up 33% of your total exam score. 

The AP Macro exam is notoriously tough. It tests your knowledge of economic principles and models to describe economic situations and predict and explain economic outcomes. On the exam, you’ll be tasked with showing your knowledge of how to use graphs, charts, and data to analyze and describe economic concepts.  

Specifically, the AP Macroeconomics exam tests you over the following course topics (called “ Big Ideas ” by the College Board). Here’s how the College Board explains them:  

Big Idea 1: Economic Measurements (MEA) — Economists contrast measurements to monitor the state of an economy and evaluate its performance over time. Governments, firms, and citizens often use these measurements to help inform policy, business, and personal decisions. 

Big Idea 2: Markets (MKT) — Competitive markets bring together buyers and sellers to exchange goods and services for mutual gain. The simple model of supply-demand can be applied in different market contexts. 

Big Idea 3: Macroeconomic Models (MOD) — Macroeconomic models are simplified representations that depict basic economic relationships and can be used to predict and explain how those relationships are affected by economic shocks. 

Big Idea 4: Macroeconomic Policies (POL) — Government taxation and spending policies and central bank monetary policy can affect an economy’s output, price level, and level of employment, both in the short run and the long run. 

Many of the questions on the AP Macro exam ask you to explain economic concepts and outcomes, perform numerical analyses, and create graphs or visual representations…which is why you need an AP Macroeconomics cheat sheet! Keep reading to learn more about what’s on our AP Macro cram sheet and how you can use it in your exam prep. 

The AP Macro formulas might seem like gibberish, but we're here to give you clarity. (See what we did there?) 

The AP Macroeconomics Cheat Sheet

Now, we’ve got some good news and some bad news. Here’s the bad news first: you won’t be provided with an official AP Macroeconomics cheat sheet during the exam. In fact, the College Board doesn’t provide an AP Macroeconomics equations sheet of any kind, online or otherwise. On test day, you’ll have to have everything memorized in order to do well on the test. 

But here’s the good news: we’ve put together an AP Macroeconomics cheat sheet for you! We know that it can be tough to keep up with all of the key terms and equations, but our AP Macro cheat sheet is designed to help you master all that tough content by laying out the core equations, graphs, and concepts that you need to know to succeed on the AP Macro exam. 

Before you read further: go ahead and download our cheat sheet so you can follow along below! 

Got it? Okay--let’s continue. To put together our AP Macroeconomics cram sheet, we combed through every unit of the AP Macro course and identified the most important calculations you need to know for the exam . Making calculations based on economic principles and graphical representations is a big part of this test, so this cram sheet will be your best friend as you start preparing.

Once we added the essential equations, graphs, and formulas to our AP Macroeconomics cram sheet, we checked Khan Academy’s AP Macroeconomics course content to ensure our information is accurate, up-to-date, and easy to use! 

Finally, we included a section of crucial terms and definitions that you need to know for the AP Macro exam . Knowing these terms and definitions will actually help you use the equations and graphs included on our cram sheet correctly, so be sure to keep reading all the way to the end!

While you won’t have access to any AP Macroeconomics cheat sheet, graphs, or equations during the exam, you can use our cheat sheet to focus your study time on the concepts and formulas you’ll be tested on! Read on to learn more about the specific content we include on our AP Macro cheat sheet. 

Not sure how to use the cheat sheet to study for AP Macro? We'll give you the recipe for success.

How to Use the Equations on the AP Macroeconomics Cheat Sheet

Graphs and balance sheets and curve models, oh my! At first glance, our 15-page AP Macroeconomics cram sheet may seem a bit intimidating. But keep in mind that AP Macro is a very visual exam: it includes many charts and graphs in addition to long equations, which can take up a lot of space!

On top of that, we wanted to make sure that our AP Macro cheat sheet is comprehensive. If you’re going to snag a top score on this AP exam, you need to give your studying your best effort--and that includes brushing up every equation you may encounter. 

Since our AP Macro cram sheet is a bit long, we’ll explain how to navigate it here. The formula sheet is divided up based on the six units of study in the AP Macro course . The six units of study are as follows: 

• Unit 1: Basic Economic Concepts
• Unit 2: Economic Indicators and the Business Cycle
• Unit 3: National Income and Price Determination
• Unit 4: Financial Sector
• Unit 5: Long-Run Consequences of Stabilization Policies
• Unit 6: Open Economy—International Trade and Finance

If you’re looking for an equation or graph that belongs to a specific course unit, just scroll through the cram sheet and search for the big, bold “Unit” headings! 

In addition to organizing the cram sheet around the AP Macro course units, we also indicate which part of each unit the formulas correspond with. We do this so you can anticipate when each formula and graph will be relevant and useful to you during your AP Macro course. For instance, say you’re studying real GDP and the GDP deflator in class, and you want to use our cheat sheet for some guidance on your homework. You can find this info by looking for Unit 2, section 2.6 in the cheat sheet, like so: 

See? In the image above, taken straight from our AP Macro cram sheet, you’ll see that real GDP and the GDP deflator are covered in Unit 2.6 of the AP Macro course. These unit markers will help you stay on track with what you’re studying in class, and you can use them as a shortcut to look back at course content when you’re prepping for the AP exam. 

For each equation and graph, we state the specific type of calculation you’ll be tested on, then we provide the equation you’ll need to use to make that calculation . When applicable, we also provide the graph(s) you’ll need to use in conjunction with certain equations in order to make correct calculations. 

Let’s take a brief look at each section of the formula sheet to get a better sense of what equations are on the exam next. 

Unit 1 Equations: Basic Economic Concepts

Unit 1 of AP Macro gets you started with the basics. You’ll gain a thorough understanding of basic economic concepts so you can apply them in increasingly advanced ways in successive units of study in this course. Specifically, Unit 1 will show you how graphs can be used as tools to make sense of economic situations and predict economic outcomes. 

With that in mind, our cheat sheet gives you the equations and graphs you’ll need to calculate the following: 

• Opportunity cost
• Mutually beneficial terms of trade
• The surplus or shortage in the market experience as an imbalance
• Graph demonstrating the relationship between demand and supply

Unit 2 Equations: Economic Indicators and the Business Cycle

In Unit 2 of AP Macro, you’ll build on the basic concepts you learned in Unit 1 by examining key measures of economic performance , such as gross domestic product (GDP), unemployment, and inflation. You’ll learn to fully explain these indicators in different contexts, including what they measure and how they are calculated. 

The Unit 2 equations and graphs that you’ll find calculations for on our cheat sheet include: 

• Nominal GDP
• Unemployment rate and labor force participation rate (LFPR)
• CPI, inflation rate, and changes in real variables
• Real GDP and GDP deflator
• Graph demonstrating the business cycle
• Graph demonstrating the circular flow model

Economic multipliers help a country's GDP grow. You'll need to know about them before you take the AP Macro exam! 

Unit 3 Equations: National Income and Price Determination

Unit 3 of AP Macro helps you hone your quantitative skills in the context of learning about multipliers , looking back to interpret economic outcomes, and looking forward to anticipate the effects of policy and other changes. You’ll practice calculating multipliers and explaining how changes in spending and taxes lead to real changes in GDP. 

Our cheat sheet includes the calculations for the following Unit 3 concepts and principles: 

• How changes in spending and taxes lead to changes in real GDP, which includes
• Marginal propensity to consume (MPC)
• Marginal propensity to save (MPS)
• Expenditure multiplier and tax multiplier
• Final impact on GDP
• The short-run effects on a fiscal policy action using the Aggregate Demand-Aggregate Supply (AD-AS) Model (graph included)

Unit 4 Equations: Financial Sector

In Unit 4, you’ll practice describing the workings of the financial sector . Interpreting bank balance sheets and calculating changes in demand deposits, loans, and reserves in the banking system as a result of deposits, withdrawals, and monetary policy will help build your quantitative skills during this unit. 

On our AP Macro cheat sheet, you’ll find the correct calculations and graphs for the following concepts: 

• Nominal interest rate
• Real interest rate
• Measures of money
• The effects of changes in the banking system, including
• The money multiplier
• Excess reserves
• Maximum new loans from a deposit
• Graph demonstrating the Loanable Funds Market
• The effects of a monetary policy action

Economic decisions can cause a ripple effect--just like dominoes. You'll need to understand cause-and-effect relationships in economics...and how to manage them.

Unit 5 Equations: Long-Run Consequences of Stabilization Policies

Unit 5 of AP Macro covers each step in the chain of cause-and-effect relationships so you learn to explain how monetary policy affects interest rates and how interest rates affect household and firm spending. By the end of this unit, you should have a strong understanding of the long-run consequences of stabilization policies undertaken by a central bank. 

The following Unit 5 calculations and graphs are covered on our AP Macro cheat sheet: 

• The quantity theory of money
• The equation of exchange
• Per capita GDP and economic growth
• Graph demonstrating the Aggregate Production Function
• Graph demonstrating the Phillips Curve Model

Unit 6 Equations: Open Economy--International Trade and Finance

Unit 6 of AP Macro hones your ability to interpret and manipulate economic models in the context of an open economy. To succeed on questions pertaining to this unit on the AP exam, you’ll need to be able to explain changes in net exports, financial capital flows, and policy actions in the foreign exchange market. You’ll also need to be able to show your understanding of these concepts through graphical representations. 

Our AP Macro cheat sheet covers the following Unit 6 calculations and concepts: 

• The current account (CA)
• The capital and financial account (CFA)
• The balance of payments
• Exchange rates
• Graph demonstrating the foreign exchange market

Key Terms and Definitions

We know that keeping up with all of the symbols and terms used in the calculations you’ll need to do for AP Macro can make your head spin, so we’ve included a list of key terms and definitions you can use at the end of the cheat sheet. 

Here’s a taste of the key terms and definitions that are included in the final section of our AP Macroeconomics cheat sheet:  

In total, you’ll find 22 key terms that you need to know for the AP Macroeconomics exam on our cheat sheet. Brush up on these so that working with AP Macro equations and graphs will get easier and easier!

4 Tips for Using the AP Macroeconomics Cheat Sheet to Study for the Exam

While you can’t use an equations cheat sheet of any kind during the actual exam, you can use one to improve your AP Macro study plan. Below, we give you four tips for preparing for the AP Macro exam so you’ll get the score you’re hoping for. 

Tip 1: Work on Key Terms

AP Macro is a deep dive into complicated economic concepts and principles. If you want to succeed on the AP Macro exam, you need to not only memorize the key terms that pop up throughout the course, but know when to use those terms to explain, describe, and calculate various economic scenarios and outcomes. 

You can use our AP Macro cram sheet to work on memorizing these terms, then practice using those terms in different contexts. By the time you take the AP exam, you won’t have any trouble interpreting tough questions and using the right concepts to get the right answers. 

Tip 2: Get Familiar With Graphs

One of the most important skills you need in order to score well on AP Macro is the ability to interpret graphical representations and use them to make calculations. 

Our AP Macro cheat sheet will help you practice applying graphical data in context, such as the Phillips Curve Model and the Aggregate Demand-Aggregate Supply Model. These graphs are certain to pop up on the AP exam, and you need to know exactly how you can use them to explain, describe, or calculate various concepts and outcomes during the exam. 

Tip 3: Do Your Homework

Homework is one of the best avenues for practicing the tough concepts you’re learning in your AP Macro class. To get the most out of your homework practice, you can use our AP Macro cheat sheet as an analysis tool to determine which concepts, equations, and graphs you need to really hammer home in order to do well on the AP exam. 

As you complete your AP Macro homework, pay close attention to the types of questions you find yourself consulting the cheat sheet for. Each time you use an equation or graph from the cheat sheet, put a tally mark next to it. After a few weeks of using the cheat sheet on your homework practice, you should get a sense of which equations and graphs are most crucial to memorize. After a while, you’ll be able to do your homework all on your own! 

Tip 4: Take a Practice Exam

Taking a practice exam is the only way to truly get a sense of what the real AP Macro exam will be like. You can find reliable AP Macro practice exams online through the College Board . 

Since you won’t be supplied with a cheat sheet when you take the real AP Macro exam, we don’t recommend using our cheat sheet when you take practice exams. However, you can take stock of all of the questions you get wrong on your practice exam and use our cheat sheet to brush up on your weaker areas before it’s time for the real deal. 

What's Next? 

Some AP exams give test takers formula sheets to help them on test day. We have expert explanations for how to use them! Don't miss our breakdown of the AP Physics 1 , AP Statistics , and AP Biology formula sheets on our blog. 

Getting ready for AP exams involves more than just reading your class notes. Use our free AP test study guide to get the most out of your study time ...and boost your AP scores. 

Taking practice tests is a great way to get ready for your AP exam, but they can be hard to find. We'll walk you through how to find practice tests for every AP test you're planning to take. 

Ashley Sufflé Robinson has a Ph.D. in 19th Century English Literature. As a content writer for PrepScholar, Ashley is passionate about giving college-bound students the in-depth information they need to get into the school of their dreams.

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Book Review: Memoirist Lilly Dancyger’s penetrating essays explore the power of female friendships

This cover image released by Dial Press shows “First Love” by Lilly Dancyger. (Dial Press via AP)

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Who means more to you — your friends or your lovers? In a vivid, thoughtful and nuanced collection of essays, Lilly Dancyger explores the powerful role that female friendships played in her chaotic upbringing marked by her parents’ heroin use and her father’s untimely death when she was only 12.

“First Love: Essays on Friendship” begins with a beautiful paean to her cousin Sabina, who was raped and murdered at age 20 on her way home from a club. As little kids, their older relatives used to call them Snow White and Rose Red after the Grimm’s fairy tale, “two sisters who are not rivals or foils, but simply love each other.”

That simple, uncomplicated love would become the template for a series of subsequent relationships with girls and women that helped her survive her self-destructive adolescence and provided unconditional support as she scrambled to create a new identity as a “hypercompetent” writer, teacher and editor. “It’s true that I’ve never been satisfied with friendships that stay on the surface. That my friends are my family, my truest beloveds, each relationship a world of its own,” she writes in the title essay “First Love.”

The collection stands out not just for its elegant, unadorned writing but also for the way she effortlessly pivots between personal history and spot-on cultural criticism that both comments on and critiques the way that girls and women have been portrayed — and have portrayed themselves — in the media, including on online platforms like Tumblr and Instagram.

For instance, she examines the 1994 Peter Jackson film, “Heavenly Creatures,” based on the true story of two teenage girls who bludgeoned to death one of their mothers. And in the essay “Sad Girls,” about the suicide of a close friend, she analyzes the allure of self-destructive figures like Sylvia Plath and Janis Joplin to a certain type of teen, including herself, who wallows in sadness and wants to make sure “the world knew we were in pain.”

In the last essay, “On Murder Memoirs,” Dancyger considers the runaway popularity of true crime stories as she tries to explain her decision not to attend the trial of the man charged with killing her cousin — even though she was trained as a journalist and wrote a well-regarded book about her late father that relied on investigative reporting. “When I finally sat down to write about Sabina, the story that came out was not about murder at all,” she says. “It was a love story.”

Readers can be thankful that it did.

AP book reviews: https://apnews.com/hub/book-reviews

Home News Highlights Best of the Week AP offers all-formats look at the affirmative action ruling’s impact on college essays

Best of the Week

AP offers all-formats look at the affirmative action ruling’s impact on college essays

Hillary Amofa listens to others member of the Lincoln Park High School step team after school, March 8, 2024, in Chicago. When she started writing her college essay, Amofa told the story she thought admissions offices wanted to hear. She wrote about being the daughter of immigrants from Ghana, about growing up in a small apartment in Chicago. She described hardship and struggle. Then she deleted it all. “I would just find myself kind of trauma-dumping,” said the 18 year-old senior, “And I'm just like, this doesn't really say anything about me as a person.” AP PHOTO / CHARLES REX ARBOGAST

By COLLIN BINKLEY, ANNIE MA AND NOREEN NASIR

The Supreme Court ruling that ended affirmative action left the college essay as one of the few places where race can play a role in admissions decisions. To capture the impact on the ruling for students applying to college, Collin Binkley, Annie Ma and Noreen Nasir interviewed several students who spoke of how much was riding on the writing assignment.

Some changed their essays to emphasize race even if other experiences felt more central to their lives, and some described feeling pressure to exploit their hardships. Most powerfully, the students read their final essays on camera. In video shot and produced by Nasir, they shared intimate details about their relationship with their natural hair or the feeling of finding solidarity in a leadership group of students that look like them.

The story ran on front pages of newspapers in Decatur, Ill.; Mattoon, Ill.; Westerly, R.I.; and Chattanooga, Tenn., and AP member newsrooms accessed the story over 500 times.

Visit AP.org to request a trial subscription to AP’s video, photo and text services. For breaking news, visit apnews.com .

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By The Associated Press

APRIL 5, 2024

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Fed Chair’s Confidence in Slowing Inflation Is ‘Not as High’ as Before

Jerome H. Powell, the Federal Reserve chair, said the central bank was poised to leave interest rates on hold after surprisingly stubborn inflation.

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By Jeanna Smialek

Jerome H. Powell, the Federal Reserve chair, reiterated Tuesday that policymakers were poised to hold interest rates steady at a high level as they waited for evidence that inflation is slowing further.

Fed officials entered 2024 expecting to make interest rate cuts, having lifted borrowing costs sharply to a more than two-decade high of 5.3 percent between 2022 and the middle of last year. But stubbornly rapid inflation in recent months has upended that plan.

Central bankers have been clear that rate cuts this year are still possible, but they have also signaled that they are planning to leave interest rates on hold for now as they wait to make sure that inflation is genuinely coming under control.

Speaking during a panel discussion in Amsterdam, Mr. Powell said officials had been surprised by recent inflation readings. The Consumer Price Index inflation measure , which is set for release on Wednesday, came down rapidly in 2023 but has gotten stuck above 3 percent this year. The Fed’s preferred measure, the Personal Consumption Expenditures index, is slightly cooler, but it, too, remains well above the Fed’s 2 percent inflation goal.

“We did not expect this to be a smooth road, but these were higher than I think anybody expected,” Mr. Powell said on Tuesday of recent inflation readings. “What that has told us is that we will need to be patient and let restrictive policy do its work.”

Mr. Powell said that he expected continued growth and a strong labor market in the months ahead, and that he believed inflation would begin to slow again.

But, he said, “my confidence in that is not as high as it was, having seen these readings in the first three months of the year.”

The Fed chair made clear that further interest rates increases are not expected, though not impossible. He said that there was a “very small probability” that the Fed would need to entertain lifting again , but that he did not think that was the most likely outcome.

“It is really a question of keeping policy at the current rate for a longer time than had been thought,” Mr. Powell said. “The question is: Is it sufficiently restrictive? And I think that’s going to be a question that time will have to tell.”

The Fed chair said he still expected rent, a major driver of the recent inflation, to eventually pull down price increases. But he acknowledged that the cool-down was taking longer than expected.

He also noted that it could be taking longer for policy to work this time around, in part because homeowners and businesses locked in very low interest rates when borrowing costs were at rock bottom in the 2010s and in 2020.

“The U.S. economy is different this time,” Mr. Powell said.

Still, he said repeatedly that he thought interest rates were high enough to gradually weigh on growth and eventually bring inflation down the rest of the way.

“At the beginning, we were very concerned that the very high inflation we saw might be quite difficult to bring down without a very significant decline in employment and weakening economic activity — that didn’t happen, that’s just a great result,” Mr. Powell said.

Even though inflation has come down substantially from its highs in 2022, Americans are unhappy with the state of the economy, a fact that is clear in low consumer confidence levels. Mr. Powell attributed that dissatisfaction to continued high price levels.

Because inflation measures changes in price, slower inflation just means that prices are no longer going up as quickly, not that they are coming down after their rapid 2021 and 2022 run-up.

“You tell people, ‘Inflation is coming down,’ and they think, ‘I don’t understand that,’” Mr. Powell said. “Particularly people at the lower end of the income spectrum are very hard hit by inflation, from the start, which is why we’re so committed to restoring price stability and keeping it in place.”

Jeanna Smialek covers the Federal Reserve and the economy for The Times from Washington. More about Jeanna Smialek