AP Econ vocab. STUDY. Flashcards. Learn. Write. Spell. Test. PLAY. Match. Gravity. Created by. ytrad. vocab for ap exam for macro econ. Terms in this set (191) Absolute Advantage. The ability to produce more of a good than all other producers. Absolute prices (money) The price of a good measured in units of currency. aggregate demand curve. the negative relationship between all spending on.
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AP ECONOMICS. AP ECON VOCAB 1-2. STUDY. PLAY. Normative Statements. Claims that attempt to prescribe how the world SHOULD be. Positive Statement. Claims that attempt to describe the world AS IT IS. Microeconomics. the study of how households and firms make decisions and how they interact in markets. Macroeconomics. the study of economic phenomena including inflation, unemployment, and.
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