AP®︎ Macroeconomics: Topic 2.6 Practice Test
Prepare for your quiz, test, or the AP exam with focused practice questions on Topic 2.6 of AP Macroeconomics – Real v. Nominal GDP.
Questions List
Topic 2.6
Question 1 Easy
This question tests the following: MEA-1.I
What does GDP stand for?
What You’re Being Tested On:
Explore the learning objectives taken directly from the College Board’s AP® Macroeconomics Curriculum. Ensure you’re prepared for the exact topics covered on the AP® exam, in-class tests, and quizzes, and gain confidence in your mastery of the material.
Topic 2.6: Real v. Nominal GDP
Learning Objective: MEA-1.I
Define nominal GDP and real GDP.
Essential Knowledge: MEA-1.I.1
Nominal GDP is a measure of how much is spent on output. Real GDP is a measure of how much is produced.
Essential Knowledge: MEA-1.I.2
Nominal GDP measures aggregate output using current prices. Real GDP measures aggregate output using constant prices, thus removing the effect of changes in the overall price level.
Learning Objective: MEA-1.J
Calculate real GDP and the GDP deflator.
Essential Knowledge: MEA-1.J.1
One way of measuring real GDP is to weigh final goods and services by their prices in a base year. Because this can lead to overstatement of real GDP growth, statistical agencies actually use different methods.
Essential Knowledge: MEA-1.J.2
Nominal GDP can be converted to real GDP by using the GDP deflator.
