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AP EXAM PLAYBOOK

AP Macro and Micro are 80% drawing and shifting 10 core graphs.

If you can draw AD/AS, the Phillips Curve, Monetary Policy, and Monopoly side-by-side graphs from memory with correct axis labels, a 5 is within reach.

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The 5-step AP Macro & Micro 5-score system

1

Memorize exact axis labels for all 5 Macro and 5 Micro graphs

Graders deduct the graph point if you label a Micro supply/demand graph with "PL and Real GDP" instead of "P and Q," or forget "Nominal Interest Rate" on the Money Market graph.

2

Micro Rule #1: Profit-maximizing quantity is ALWAYS where MR = MC

Whether a firm is in Perfect Competition, Monopoly, or Monopolistic Competition, find where Marginal Revenue equals Marginal Cost first, drop a dashed line to Q*, and go up to the Demand curve for P*.

3

Macro Rule #1: Mirror AD/AS shifts onto the Phillips Curve

An AD shift moves ALONG the Short-Run Phillips Curve (SRPC); an SRAS shift shifts the ENTIRE SRPC in the opposite direction. Drill this link until it is automatic.

4

Master the Spending vs. Tax Multiplier and Reserve Requirement math

Spending Multiplier = 1 / MPS, while Tax Multiplier = -MPC / MPS. Practice calculating the exact bond sale/purchase or reserve policy change needed to close a recessionary gap.

5

Solve Game Theory payoff matrices by circling best responses

On Micro FRQs, cover one player's column at a time to identify dominant strategies and Nash Equilibrium in under 45 seconds.

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🏦

Macro Policy Chain Reactions

Trace how an open-market bond purchase changes interest rates, investment, AD, price level, and forex.

🏭

Side-by-Side Perfect Competition

Connect the Market S&D graph to the Firm's horizontal MR=D=AR=P line and long-run zero economic profit.

👑

Monopoly & Deadweight Loss

Locate profit-maximizing Q (MR=MC), socially optimal Q (P=MC), and consumer/producer surplus.

🌍

Comparative Advantage & Forex

Calculate opportunity costs (Other Over / Output vs. Input) and currency appreciation.

Remember updated AP Macro Ample Reserves (Policy Rate) graphs

The College Board updated AP Macro to include banking systems with ample reserves (where the central bank adjusts the administered policy rate / IORB) alongside limited reserves (open-market operations). Know both graphs!

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Test your policy chains, multiplier math, and MR=MC rules step by step.

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