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AP Macroeconomics flashcards

3 decks · 204 cards · built into Willys · free samples below

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Written against: College Board AP Macroeconomics Course and Exam Description (six units). Updated 2026-10-10.

What's in it

Every deck follows the course outline, with tags you can study or suspend topic by topic. Open a deck to study its free sample right here.

Learn · 2 decks · 144 cards

Concepts, mechanisms and the questions a course or exam asks about them.

Concepts and Models Units 1–3: scarcity and the PPC, GDP, unemployment, price indices and inflation, the business cycle, aggregate demand and supply, multipliers, output gaps and fiscal policy, with graph-shift scenarios in the style of the AP exam. 10 free · 70 cards in the app Policy and Graphs Units 4–6: money, banking and the money multiplier, the money market and monetary policy, loanable funds, the Phillips curve, money growth, deficits and crowding out, growth, the balance of payments and the foreign exchange market, with graph shifts described in words. 10 free · 74 cards in the app

Practice · 1 deck · 60 questions

Multiple-choice practice questions, one best answer each, with the reasoning.

Practice Questions Multiple-choice practice questions, one best answer each, on GDP, inflation, unemployment, AD–AS, multipliers, banking, monetary and fiscal policy, loanable funds, growth and trade. 6 free · 60 questions in the app

Study guide

Topics covered

The decks follow the order of the course outline. Numbers are cards per topic.

  • Basic Economic Concepts 12
  • Economic Indicators and the Business Cycle 43
    • Business Cycle 4
    • GDP 16
    • Price Indices and Inflation 13
    • Unemployment 10
  • National Income and Price Determination 44
    • AD–AS Equilibrium 11
    • Aggregate Demand and Multipliers 13
    • Aggregate Supply 9
    • Fiscal Policy 11
  • Financial Sector 44
    • Financial Assets and Interest Rates 8
    • Loanable Funds 8
    • Money Market and Monetary Policy 14
    • Money and Banking 14
  • Long-Run Consequences of Stabilization Policies 35
    • Deficits and Crowding Out 7
    • Economic Growth 8
    • Money Growth and Inflation 7
    • Phillips Curve 13
  • Open Economy 26
    • Balance of Payments 7
    • Capital Flows and Policy 7
    • Foreign Exchange Market 12

A study plan

  • 8 new cards a day covers everything in a month, leaving the last weeks for review.
  • 5 new cards a day covers everything in two months, leaving the last weeks for review.

Willys schedules reviews for you (FSRS spaced repetition), so the daily number above is only for new cards; reviews of what you have learned come back on their own. Study a topic's cards right after you meet it in class, suspend topics you have not reached yet, and use the app's quiz mode in the final two weeks.

How to get these decks

  1. Install Willys on your iPhone, iPad or Mac — App Store. 14-day free trial, then $14.99 a year.
  2. In Willys, tap Exam Library at the top of your Decks (or Browse Exam Library… under the + button), find the exam on its shelf or by search, tick it and tap Add.
  3. Study. The exam comes in as its own collapsible folder, every card scheduled by FSRS spaced repetition. Nothing you already have is changed.

Every deck is built into Willys

All 3 AP Macroeconomics decks (204 cards), with FSRS spaced repetition, quizzes and mock tests, on iPhone, iPad and Mac. 14-day free trial, then $14.99 a year.

Get the app

In Willys, tap Exam Library at the top of your Decks (or Browse Exam Library… under the + button), find the exam on its shelf or by search, tick it and tap Add.

About these cards

Review status: Second-reader reviewed, with corrections applied.

Checked against:

  • Topic outline follows the College Board AP Macroeconomics Course and Exam Description (effective Fall 2026), Units 1–3 (used as an outline only; no text copied).
  • OpenStax Principles of Economics 3e, consulted as a reference; no text copied.
  • Checked against Mankiw, Principles of Macroeconomics (reference only; no text copied).
  • Topic outline follows the College Board AP Macroeconomics Course and Exam Description (effective Fall 2026), Units 4–6 (used as an outline only; no text copied).
  • Facts also checked against Federal Reserve Board pages (Reserve Requirements, Interest on Reserve Balances, H.6 Money Stock Measures) and the U.S. Bureau of Economic Analysis International Transactions Accounts methodology summary (public domain; reference only; no text copied).
  • Topic outline follows the College Board AP Macroeconomics Course and Exam Description (effective Fall 2026), Units 1–6 (used as an outline only; no text copied).
  • Checked against Mankiw, Principles of Macroeconomics (reference only; no text copied). Every numerical answer was recomputed by script.
  • Facts also checked against Federal Reserve Board pages (Reserve Requirements, Interest on Reserve Balances) and the U.S. Bureau of Economic Analysis NIPA Handbook, Chapter 2, and glossary (public domain; reference only; no text copied).

These are independent study notes written for Willys. They are not official exam material, may contain mistakes, and are no substitute for your course, your teacher or the exam owner's own publications. Found an error? Tell us — corrections ship as a new version of the deck.

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