American School of Guatemala

economics unemployment inflation economic growth monetary policy minimum efficiency scale elasticity demand fiscal policy aggregate supply aggregate demand microeconomics ap exam scarcity rational behavior positive economics choice normative economics appreciation depreciation foreign exchange market purchasing power parity production function productivity monopolistic competition famous economists nairu phillips curve inflation targeting the taylor rule price discrimination profit maximizing pure monopoly liquidity preference model loanable funds market loanable funds model fisher effect equilibrium interest rate profit maximization pure competion equilibrium output money supply interest rate money demand money market open market operations federal reserve system marginal product variable cost short run costs fixed cost long run costs marginal cost total product production costs ap economics exam overview economies of scale long run production costs costs of production economic costs profit bonds stocks financial institutions financial intermediaries saving financial system banks investment utility maximization consumer behavior supply automatic stabilizers taxes discretionary fiscal policy international trade exchange rate price level long run equilibrium equilibrium in the short run long run aggregate supply full employment eductation