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Principles of Macroeconomics CLEP Test
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CLEP (College Level Examination Program) There are 226 multiple-choice practice questions and detailed explanations contained in the Practice Tests and Study Guides below. The ACE (American Council on Education) recommends 3 lower level college credits for this exam. Studying, and passing, the practice tests below will allow you to confidently take and pass your Principles of Macroeconomics CLEP test. The overall key concepts, and specific individual points, that will allow you to pass your test are within the practice questions and detailed explanations contained in the materials below.
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| CLEP Practice Test and Study Guides - Begin your studies here | # of questions |
Course Information and Overview
This
Principles of Macroeconomics CLEP Test consists of material typically taught in an
introductory-level college course. The actual CLEP Test is 80 questions and
allows 90 minutes to complete.
Successfully passing this CLEP test requires knowledge and understanding of important economic concepts and terms, understanding and interpretation of economic graphs, evaluation and interpretation of economic data, and application of simple economic models.
Knowledge in the key areas of monetary policies and tools, the structure of the Federal Reserve Bank and the strategies it utilizes to stabilize the economy, foreign exchange markets, imports and exports, and appreciation and depreciation may be covered as well.
According to the official College Board site the Principles of Macroeconomics CLEP test contains questions from the following topics:
- Basic Economic Concepts (8-12%)
Production Possibilities Curve (PPC)
Comparative advantage
Supply and demand and natural market equilibrium
Opportunity costs including choice and scarcity of resources
Business cycles including unemployment, growth and inflation - Measurement of Economic Performance (12-16%)
National income accounts
Gross Domestic Product (GDP) and it's components
Real and nominal GDP and the differences between them
Circular flow
Measuring inflation and it's costs
Price Indices
Unemployment, definition and types
Rate of natural unemployment - National Income and Price Determination (10-15%)
Aggregate Supply and Demand, and it's determining factors
Short and long run analyses
Macroeconomic equilibrium
Fluctuations in the economy
Outputs and price levels - Financial Sector (15-20%)
Money and banking Defining terms: money, stocks, bonds
Money supplies, creation of money and measurements
Money demand
Central bank and monetary controls
Quantity theory of money
Interest rates - Inflation, Unemployment, and Stabilization Policies (20-30%)
Fiscal and monetary policies
Supply-side and demand-side effects
Government debt and deficits
Inflationary effects and types
Cost-push inflation, demand-pull inflation
The Phillips curve - Economic Growth and Productivity (5-10%)
Human and physical capital investments
Research and development, roles and definitions
Growth policies - Open Economy: International Trade and Finance (10-15%)
Balance of payments accounts
Capital and current accounts
Balance of trade
Foreign exchange markets
Supply and demand of currency, exchange rates, and appreciation and depreciation
Net exports
Capital flows in international markets
CLEP Principles of Macroeconomics information is available at The College Board.
