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|\n\nSocial Studies Scope and Sequence  \n\n|  |  | ● Define (using graphs as appropriate) the law of demand\u003Cbr>● Explain (using graphs as appropriate) the relationship between the price of a good or service and the quantity demanded.\u003Cbr>● Explain (using graphs as appropriate) the determinants of demand.\u003Cbr>● Define (using graphs as appropriate) the law of supply.\u003Cbr>● Explain (using graphs as appropriate) the relationship between the price of a good or service and the quantity supplied.\u003Cbr>● Explain (using graphs as appropriate) the determinants of supply.\u003Cbr>● Define (using graphs as appropriate) market equilibrium.\u003Cbr>● Define a surplus and shortage.\u003Cbr>● Explain (using graphs as appropriate) how prices adjust to restore equilibrium in markets that are experiencing imbalances.\u003Cbr>● Calculate (using graphs as appropriate) the surplus or shortage in the market experience an imbalance.\u003Cbr>● Explain (using graphs as appropriate) how changes in demand and supply affect equilibrium price and equilibrium quantity. |  |\n| --- | --- | --- | --- |\n\nSocial Studies Scope and Sequence  \n\n| 8-12 | Unit 2: Economic Indicators and the Business Cycle | ● Define (using the circular flow diagram as appropriate) how GDP is measured and its components.\u003Cbr>● Calculate nominal GDP.\u003Cbr>● Define the limitations of GDP.\u003Cbr>● Define the labor force, the unemployment rate, and the labor force participation rate.\u003Cbr>● Explain how changes in employment and the labor market affect the unemployment rate and the labor force participation rate.\u003Cbr>● Calculate the unemployment rate and the labor force participation rate.\u003Cbr>● Define the limitations of the unemployment rate.\u003Cbr>● Define the types of unemployment and the natural rate of unemployment.\u003Cbr>● Explain changes in the types of unemployment.\u003Cbr>● Define the consumer price index (CPI), inflation, deflation, disinflation, the inflation rate, and real variables.\u003Cbr>● Explain how price indices can be used to calculate the inflation rate and to compare nominal variables over time periods.\u003Cbr>● Calculate the CPI, the inflation rate, and changes in real variables.\u003Cbr>● Define the shortcomings of the CPI as a true measure of inflation. | ● How is one person’s spending another person’s income?\u003Cbr>● How do we know if an economy is doing well or poorly? |\n| --- | --- | --- | --- |\n\nSocial Studies Scope and Sequence  \n\n|  |  | ● Explain the costs that unexpected inflation (deflation) imposes on individuals and the economy.\u003Cbr>● Define nominal GDP and real GDP.\u003Cbr>● Calculate real GDP and the GDP deflator.\u003Cbr>● Define (using graphs and data as appropriate) turning points and phases of the business cycle.\u003Cbr>● Explain (using graphs and data as appropriate) turning points and phases of the business cycle. |  |\n| --- | --- | --- | --- |\n| 8-12 | Unit 3: Na","cbCaimBB3KhPNXga","https://ap.wps.com/l/cbCaimBB3KhPNXga","pdf",157613,11,"English","# Unit 1: Basic Economic Concepts\n# Unit 2: Economic Indicators and the Business Cycle\n# Unit 3: National Income and Price Determination","[{\"question\":\"What topics are included in Unit 1 of the AP Macroeconomics scope and sequence?\",\"answer\":\"Unit 1 focuses on scarcity and economic resources, PPC and opportunity cost, absolute and comparative advantage, and specialization leading to gains from trade. It also includes terms-of-trade related calculations.\"},{\"question\":\"How does the document describe what determines market price?\",\"answer\":\"It links market price to the relationship between price and quantity demanded and supplied. It also covers market equilibrium, surplus and shortage, and how prices adjust to restore equilibrium.\"},{\"question\":\"What does Unit 3 cover regarding national income and price determination?\",\"answer\":\"Unit 3 addresses aggregate demand, the slope and determinants of AD, multipliers and marginal propensities, and short-run aggregate supply. It further covers short-run vs long-run equilibrium, aggregate shocks, and fiscal policy and its effects.\"}]","AP Macroeconomics Scope and Sequence - Course/Grade Level | PDF",1789894548,28]