Principles of Macroeconomics CLEP Test Description
The Principles of Macroeconomics CLEP test covers the information that
is taught in one semester introductory course at the college level in
macroeconomics. It covers all the different areas such as supply, demand,
market interactions, inflation and policy objectives.
You will be tested on measurement concepts such as GDP (gross domestic
product), investment, unemployment, scarcity, business cycle and growth.
You will also need to know about the Federal Reserve Bank, how it operates
and what it does to stimulate and regulate the economy.
It is important to understand that you do not have to answer each and
every question correct to get a passing score. You need to get 50 of 100
correct (in most cases) to pass. The people the write the CLEP tests want
you to know about half of the information to get a passing score.
Included in the Principles of Macroeconomics CLEP Study Guide
The Origin and Evolution of Money
Barter
Money as an IOU
The Basic Properties of Money
Bills of Exchange
Paper Money
Goldsmith Bankers
Virginian Tobacco
Gold Standard
Intangible Money
The Future of Money
Basic Economic Concepts
Scarcity the Nature of Economic Systems
Opportunity Costs and Productive
Possibilities
Demand, Supply and Price Determination
Measurement of Economic Performance
Gross Domestic, National Products and National Income Concepts
Inflation and Price Indices
National Income & Price Determination
Aggregate Supply and Demand
Keynesian and Classical Analysis
Money and Banking
Effectiveness of fiscal and Monetary Policy
Keynesian and other theories
Central Banking
Brief History of the U.S. Federal Reserve Bank
Structure of the Federal Reserve System
Role of the FOMC and how Fed Funds rates are established
How the Fed Funds rate affects retail loan rates
How the Fed funds rate affects Aggregate Demand for goods and services
Constant Vigilance
The U.S. dollar and the lender of last resort (LOLR)
Fed Controversy
International Finance
International Trade, Comparative Advantage and Exchange rates
Currency Exchange Rates
Foreign Investment
Balance of Payments
Balance of Payments Deficit and Surplus
The International Financial System
Monetary Policy and Globalization
Conclusion
International Economics and Growth
Comparative advantage, Trade Policy, International Finance,
and Exchange Rate
Economic Growth
Sample CLEP Test Questions
Test-Taking Strategies
What Your Score Means
Test Preparation
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Included in the Principles of Macroeconomics CLEP Study Guide