5 Steps to a 5 AP Microeconomics, 2014-2015 Edition

know some students who always seem to ace the multiple-choice questions and some stu-

dents who would rather set themselves on fire than sit for another round of “bubble trou-

ble.” I hope that, with a little background and a few tips, you might improve your scores

in this important component of the AP Microeconomics exam.

First, the background. Every multiple-choice question has three important parts:

1. Thestemis the basis for the actual question. Sometimes this comes in the form of a
   fill-in-the-blank statement, rather than a question.

Example

Average fixed cost is computed by dividing total fixed cost by

Example

If the economy is operating below full employment, which of the following fiscal

policies is most likely to decrease the unemployment rate?

2. Thecorrect answer option.Obviously, this is the one selection that best completes the
   statement, or responds to the question in the stem. Because you have purchased this
   book, you will select this option many, many times.


3. Distractor options.Just as it sounds, these are the incorrect answers intended to dis-
   tract the person who decided not to purchase this book. You can locate this person in
   the exam room by searching for the individual who is repeatedly smacking his or her
   forehead on the desktop.

Students who do well on multiple-choice exams are so well prepared that they can easily

find the correct answer, but other students do well because they are savvy enough to iden-

tify and avoid the distractors. Much research has been done on how to best study for, and

complete, multiple-choice questions. You can find some of this research by using your

favorite Internet search engine, but here are a few tips that many economics students find

useful.

1. Let’s be careful out there. You must carefully read the question. This sounds pretty obvi-
   ous, but you would be surprised how tricky those test developers can be. For example,
   rushing past and failing to see the use of a negative can throw a student.

Example

Which of the following is nottrue of firms in perfect competition?

A. Firms produce a homogenous good.

B. Firms engage in price discrimination.

C. Firms earn a normal profit in the long run.

D. Firms have no ability to influence the market price.

E. Firms produce the output where price is equal to marginal cost.

A student who is going too fast and ignores the negative notmight select option

(A) because it is true of perfectly competitive firms, and it was the first option

that the student saw.

2. See the answer, be the answer. Many people find success when they carefully read the
   question and, before looking at the alternatives, visualize the correct answer. This allows
   the person to narrow the search for the correct option and identify the distractors.
   Of course this visualization tip is most useful for students who have used this book to
   thoroughly review the economic content.

34 › Step 3. Develop Strategies for Success

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