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It specifies required responses for graphs and economic explanations, including the short-run and long-run Phillips curve intersection, foreign exchange market shifts for the Vortanian crown, effects on net exports and employment, and balance of payments outcomes. It also includes scoring for reserve-market and aggregate demand-aggregate supply representations, plus calculations tied to real GDP and government spending.",{"@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-scoring-guidelines-set-1/444592/",{"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-scoring-guidelines-set-1/444592.png","ImageObject",300,407,{"name":92,"@type":93},"Elsa","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-04","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 graph elements are required for Question 1, part A?","Question",{"text":112,"@type":113},"A correctly labeled short-run Phillips curve graph is required, including a correctly labeled long-run Phillips curve and a point P at the intersection of the two curves.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"How should the foreign exchange market be shown for the Vortanian crown in Question 1, part C?",{"text":117,"@type":113},"Draw a correctly labeled foreign exchange market for the Vortanian crown showing a leftward shift in the supply curve that results in an appreciation of the Vortanian crown.",{"name":119,"@type":110,"acceptedAnswer":120},"What does Question 3 require for the calculation and graphing components?",{"text":121,"@type":113},"It includes calculating real GDP using the provided consumption components and drawing an AD-AS graph with PL1 and Y1 at the AD and SRAS intersection, plus a vertical LRAS left of Y1 labeled YF.","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},444592,1790853196,{"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":29,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":144},137455077381,"https://ap-avatar.wpscdn.com/davatar_994ba38a5ba835b3df7d355c54d3ed8d","2025   \nAP® Macroeconomics Scoring Guidelines  \nSet 1  \n© 2025 College Board. College Board, Advanced Placement, AP, AP Central, and the acorn logo are registered trademarks of College Board. Visit College Board on the web: [collegeboard.org](collegeboard.org).  \n[AP Central is the official online home for the AP Program: apcentral.collegeboard.org](AP Central is the official online home for the AP Program: apcentral.collegeboard.org).  \nAP® Macroeconomics 2025 Scoring Guidelines  \n\n| Question 1: Long 10 points |  |  |\n| --- | --- | --- |\n|  |  |  |\n| A\u003Cbr>Point 1 | Draw a correctly labeled graph of the short-run Phillips curve (SRPC) . | 1 point |\n| Point 2 | |  |\n|  | The graph must include a correctly labeled long-run Phillips curve (LRPC) and show a point labeled P at the intersection of the short-run and long-run Phillips curves.\u003Cbr>| 1 point |\n\nB (i)  \nPoint 3  \n(ii)  \nPoint 4  \nState that real output will increase and explain that the new residential construction projects increase investment spending, which increases aggregate demand.  \n1 point  \nOn the graph from part A, show a point labeled S on the SRPC to the left of point P.  \n1 point  \nC  \nPoint 5  \nPoint 6  \nDraw a correctly labeled graph of the foreign exchange market for the Vortanian  \ncrown.  \n1 point  \nThe graph must show a leftward shift in the supply curve of the Vortanian crown, resulting in an appreciation of the Vortanian crown.  \n1 point  \n| D\u003Cbr>Point 7 | State that Vortania’s net exports will decrease. | 1 point |\n| --- | --- | --- |\n| E (i) | State that the capital and financial account (CFA) balance in Vortania will move into | 1 point |\n| Point 8 | surplus and explain that the current account (CA) moved into deficit and the balance |  |\n| (ii) | of payments must balance (CA+CFA=0) . |  |\n|  | State that employment in Vortania will decrease. | 1 point |\n| Point 9 |  |  |\n| F\u003Cbr>Point 10 | State that the central bank of Vortania would sell Vortanian crowns in the foreign exchange market and explain that the increased supply of the Vortanian crown will cause it to depreciate. | 1 point |\n\n© 2025 College Board  \nAP® Macroeconomics 2025 Scoring Guidelines  \n\n| Question 2: Short |  | 5 points |\n| --- | --- | --- |\n|  |  |  |\n| A\u003Cbr>Point 1 | State that the central bank of Country L would buy bonds. | 1 point |\n| B\u003Cbr>Point 2 | State that the central bank of Country A would decrease its administered interest rates or decrease interest on reserves. | 1 point |\n| C\u003Cbr>Point 3\u003Cbr>Point 4 | Draw a correctly labeled graph of the reserve market with the supply curve intersecting the demand curve in the range of ample reserves. | 1 point |\n|  | |  |\n|  | The graph must show a decrease in the administered interest rates, resulting in a decrease in the policy rate. | 1 point |\n|  | \u003Cbr>OR\u003Cbr>The graph must show a decrease in the lower bound of the demand curve for reserves, resulting in a decrease in the policy rate.\u003Cbr>|  |\n\n© 2025 College Board  \nD  \nPoint 5  \nState that short-run aggregate supply will increase until it reaches full employment and explain that the increase in short-run aggregate supply in the long run will be caused by a decrease in input prices (e.g., nominal wages) and/or inflationary expectations.  \n1 point  \n© 2025 College Board  \nAP® Macroeconomics 2025 Scoring Guidelines  \n\n| Question 3: Short |  | 5 points |\n| --- | --- | --- |\n|  |  |  |\n| A\u003Cbr>Point 1 | State that the real GDP in 2021 was equal to the nominal GDP in 2021 and explain that because 2021 is the base year, no price level changes have occurred, and real values always equal nominal values in the base year. | 1 point |\n| B\u003Cbr>Point 2 | Calculate the real GDP in Middleland in 2022 as $1,190 and show your work. Real GDP = ($11 × 50) + ($4 × 70) + ($12 × 30) = $1, 190 | 1 point |\n| C\u003Cbr>Point 3 | Draw a correctly labeled aggregate demand–aggregate supply graph that shows PL1 and Y1 at the intersection of the aggregate demand (AD) and short-run aggregate supply (SRAS) curves. | 1 ","cbCaikY234kKbrjD","https://ap.wps.com/l/cbCaikY234kKbrjD","pdf",379010,"English","# Question 1\n## A\n## B\n## C\n## D\n## E\n## F\n# Question 2\n## A\n## B\n## C\n## D\n# Question 3\n## A\n## B\n## C\n## D","[{\"question\":\"What graph elements are required for Question 1, part A?\",\"answer\":\"A correctly labeled short-run Phillips curve graph is required, including a correctly labeled long-run Phillips curve and a point P at the intersection of the two curves.\"},{\"question\":\"How should the foreign exchange market be shown for the Vortanian crown in Question 1, part C?\",\"answer\":\"Draw a correctly labeled foreign exchange market for the Vortanian crown showing a leftward shift in the supply curve that results in an appreciation of the Vortanian crown.\"},{\"question\":\"What does Question 3 require for the calculation and graphing components?\",\"answer\":\"It includes calculating real GDP using the provided consumption components and drawing an AD-AS graph with PL1 and Y1 at the AD and SRAS intersection, plus a vertical LRAS left of Y1 labeled YF.\"}]","AP Macroeconomics Scoring Guidelines - Set 1 | PDF",1790708580,15]