AP Economics & Government Flashcards
6 cards from real AP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 AP Economics & Government flashcards as text
In AP Macroeconomics, what does the Phillips Curve illustrate?
Answer: A short-run trade-off between inflation and unemployment
The Phillips Curve shows an inverse short-run relationship between inflation and unemployment rates.
In the U.S. government, what is a filibuster?
Answer: A prolonged speech or tactic used in the Senate to delay or block a vote
A filibuster is a legislative tactic used in the U.S. Senate where a senator speaks at length to delay or prevent a vote on a bill.
What is the concept of 'supply-side economics'?
Answer: Stimulating growth by reducing taxes and regulations on producers
Supply-side economics argues that cutting taxes and reducing regulations on businesses will stimulate investment and economic growth.
What is the role of the Electoral College in the United States?
Answer: To formally elect the President and Vice President
The Electoral College is the constitutionally established body of electors who formally cast votes to elect the U.S. President and Vice President.
In economics, what is a monopoly?
Answer: A market dominated by a single seller with no close substitutes
A monopoly exists when a single firm is the only seller in a market, giving it significant control over price and output.
What is the difference between a recession and a depression?
Answer: A recession is a mild, shorter decline; a depression is a severe, prolonged economic downturn
A recession is typically defined as two consecutive quarters of negative GDP growth, while a depression is a far deeper and longer-lasting economic collapse.