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Tasks include drawing an AD-AS graph identifying long-run equilibrium at Y1=YF, analyzing effects of decreased consumer spending, explaining changes in input prices and inflationary expectations, and describing how monetary policy works in a reserve market with ample reserves. It also addresses implications for national savings, unemployment, and aggregate demand through interest-rate changes.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/ap-macroeconomics-sample-student-responses-and-scoring-commentary-set-2-question-1/444593/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/ap-macroeconomics-sample-student-responses-and-scoring-commentary-set-2-question-1/444593.png","ImageObject",300,407,{"name":92,"@type":93},"Aran","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-01","2026-09-29",true,{"@type":102,"interactionType":103,"userInteractionCount":81},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What does part (a) require students to draw on the AD-AS graph?","Question",{"text":112,"@type":113},"Students must draw a correctly labeled aggregate demand-aggregate supply graph showing point Y1 at the intersection of AD and short-run aggregate supply (SRAS), with a vertical long-run aggregate supply (LRAS) curve at equilibrium where real output is Y1=YF.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How should students respond to the decrease in consumer spending in part (b)?",{"text":117,"@type":113},"Students calculate the marginal propensity to consume, then show the short-run effect of lower consumer spending as a leftward shift of the AD curve, leading to a lower price level (PL2) and lower real output (Y2).",{"name":119,"@type":110,"acceptedAnswer":120},"What monetary policy actions are described in parts (d) and (e) with ample reserves?",{"text":121,"@type":113},"Part (d) states the central bank would decrease administered interest rates or decrease interest on reserves. Part (e) requires a reserve market graph where the supply curve intersects the demand curve in the ample reserves range, showing a decrease in administered interest rates (or the lower bound of the demand curve for reserves) that results in a lower policy rate.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},444593,1790816244,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":81,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":41},137455076865,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","# APMacroeconomicsSample Student Responsesand Scoring CommentarySet 2\n\nInside:  \nFree-Response Question 1  \n☑ Scoring Guidelines  \n☑ Student Samples  \n☑ Scoring Commentary  \n◎2024 College Board.College Board,Advanced Placement,AP,AP Central,and the acorm logo are registeredtrademarks of College BoardVisit College Board on the web:collegeboard.org.AP Central is the official online home for the AP Program:apcentral.collegeboard.org.  \nQuestion 1:Long  \n(a)   Draw a correctly labeled aggregate demand-aggregate supply graph that shows PL₁and1 pointY₁at the intersection of the aggregate demand(AD)and short-run aggregate supply(SRAS)curves.  \nFor the second point,the graph must show a vertical long-run aggregate supply(LRAS)1 pointcurve at equilibrium real output Y₁=YF.  \nTotal for part(a)2 points  \n(b)(i)Calculate the marginal propensity to consume as 0.4 and show your work.  \n1 point  \n(ii)On the graph from part (a),show the short-run effect of the decrease in consumerspending as a leftward shift of the AD curve,resulting in a decrease in the price level toPL2 and a decrease in real output to Y₂.  \nTotal for part(b)2 points  \n(c)   Explain that input prices(e.g.,nominal wages)and/or inflationary expectations will1 pointdecrease,causing SRAS to increase until it reaches full employment.  \n(d)State that the central bank would decrease its administered interest rates or decrease1 pointinterest on reserves.  \n(e)Draw a correctly labeled graph of the reserve market with the supply curve intersecting1 pointthe demand curve in the range of ample reserves.  \nReserves  \nFor the second point,the graph must show a decrease in the administered interest rates,   1 pointresulting in a decrease in the policy rate.  \nReserves  \nOR  \nFor the second point,the graph must show a decrease in the lower bound of the demandcurve for reserves,resulting in a decrease in the policy rate.  \nReserves  \n\n|  | Total for part(e)   | 2 points   |\n| --- | --- | --- |\n| (f)   | For the first point,state that the quantity of national savings would decrease and the   | 1 point   |\n|  | unemployment rate would decrease.   |  |\n|  | For the second point,explain that the decrease in nominal interest rates willincrease   | 1 point   |\n|  | interest-sensitive spending (consumption,investment,or net exports),causing an  \u003Cbr>increase in aggregate demand and real output.   |  |\n|  |  |  |\n|  | Total for part(f)   | 2 points   |\n|  | Total for question 1   | 10 points   |\n\nQ1 Sample A Page 1 of 2  \nImportant:Completely fill in the circle  \nQuestion 1 Question 2 Question 3  \nthat corresponds to the question you  \nO  \nare answering on this page.  \n\n| Begin your response to each question at the top of a new page.  \u003Cbr>北nuw  \u003Cbr>wil odyu   o Yl Chouye in     l⁰rg  O  \u003Cbr>d)wiY amPll (e&rveS九  \u003Cbr>coold decreae admMikre rfes+a+es,  \u003Cbr>Page 2  \u003Cbr>Qof ReseveS  \u003Cbr>R2↓  \u003Cbr>Steuy  \u003Cbr>epomar  \u003Cbr>Cenhal banl of MonuyLoul  \u003Cbr>As,becosse prces aul ages  \u003Cbr>otl   \u003Cbr>n  n oinoo a y cons  SRAs  \u003Cbr>MPC=0.4  \u003Cbr>i)  \u003Cbr>b)  \u003Cbr>y,  \u003Cbr>Y²YF  \u003Cbr>AD₂  \u003Cbr>AD  \u003Cbr>↓  \u003Cbr>SS  \u003Cbr>a  \u003Cbr>LBAS   |\n| --- |\n\nUse a pen with black or dark blue ink only.Do NOT write your name.Do NOT write outside the box.  \nQ5383/02  \nQ1 Sample A Page 2 of 2  \n●Important:Completely fill in the circleQuestion 1 Question 2 Question 3that corresponds to the question youO  \nare answering on this page.  \n\n| Begin your response to each question at the top of a new page.  \u003Cbr>)MemPloywenH will decceage  \u003Cbr>Oud inerut SPely,hurefoe AD  \u003Cbr>and a Shifryiv AD′will CaUSe Hh  \u003Cbr>MenN810Yam+fa+e locf,  \u003Cbr>Page 3  \u003Cbr>u  \u003Cbr>shi o u s   pnle oe,masyy  \u003Cbr>十 十  \u003Cbr>will inceuje  \u003Cbr>pend inessesitvgodsil wcease  \u003Cbr>belcuse consune/  \u003Cbr>decreose  \u003Cbr>)aional avings  \u003Cbr>)   |\n| --- |\n\n111111111111111111111111111111  \nUse a pen with black or dark blue ink only.Do NOT write your name.Do NOT write outside the box.  \nQ1 Sample B Page 1 of 2  \nImportant:Completely fllin the circleQuestion 1 Question 2 Question 3that correspond","cbCaiepub4ILmcaJ","https://ap.wps.com/l/cbCaiepub4ILmcaJ","pdf",1573262,12,"English","# Question 1\n## Scoring Guidelines\n## Student Samples\n## Scoring Commentary\n## Part (a) Aggregate demand-aggregate supply graph\n## Part (b) Marginal propensity to consume and AD shift\n## Part (c) Input prices, expectations, and SRAS adjustment\n## Part (d) Central bank administered interest rates / interest on reserves\n## Part (e) Reserve market graph with ample reserves\n## Part (f) National savings, unemployment, and aggregate demand","[{\"question\":\"What does part (a) require students to draw on the AD-AS graph?\",\"answer\":\"Students must draw a correctly labeled aggregate demand-aggregate supply graph showing point Y1 at the intersection of AD and short-run aggregate supply (SRAS), with a vertical long-run aggregate supply (LRAS) curve at equilibrium where real output is Y1=YF.\"},{\"question\":\"How should students respond to the decrease in consumer spending in part (b)?\",\"answer\":\"Students calculate the marginal propensity to consume, then show the short-run effect of lower consumer spending as a leftward shift of the AD curve, leading to a lower price level (PL2) and lower real output (Y2).\"},{\"question\":\"What monetary policy actions are described in parts (d) and (e) with ample reserves?\",\"answer\":\"Part (d) states the central bank would decrease administered interest rates or decrease interest on reserves. Part (e) requires a reserve market graph where the supply curve intersects the demand curve in the ample reserves range, showing a decrease in administered interest rates (or the lower bound of the demand curve for reserves) that results in a lower policy rate.\"}]","AP Macroeconomics Sample Student Responses and Scoring Commentary - Set 2 - Question 1 | PDF",1790708582]