AP Macroeconomics

The fundamental concepts of scarcity, opportunity cost, and economic systems. How GDP, unemployment, and inflation are measured — and what they reveal about economic health. How aggregate demand and aggregate supply determine national output and price levels. How fiscal policy and monetary policy work, and how they stabilize or stimulate the economy. The role of the banking system, financial markets, and the money creation process. Long-run economic growth, productivity, and policy trade-offs. How international trade, exchange rates, and capital flows affect an open economy.