Course Course Summary Section 1 Content Section 1 Content Left Section 1 Content Right Credit Type: Exam ACE ID: CLEP-0027 Organization: College Board's College-Level Examination Program (CLEP) Location: Certified CLEP testing centers throughout the U.S. Length: 1.5 hours Dates Offered: 1/1/2023 - 12/31/2027 10/1/2012 - 12/31/2022 7/1/2001 - 9/30/2012 3/1/1996 - 6/30/2001 Credit Recommendation & Competencies Section 2 Content Section 2 Content Left Section 2 Content Right Level Credits (SH) Subject Lower-Division Baccalaureate 3 Principles of Macroeconomics Credit is recommended for candidates scoring 50 and above. Description Section 3 Content Section 3 Content Left Section 3 Content Right Objective: The Principles of Macroeconomics exam covers material that is usually taught in a one-semester undergraduate course in this subject. This aspect of economics deals with principles of economics that apply to an economy as a whole, particularly the general price level, output and income, and interrelations among sectors of the economy. The test places particular emphasis on the determinants of aggregate demand and aggregate supply, and on monetary and fiscal policy tools that can be used to achieve particular policy objectives. Within this context, candidates are expected to understand basic economic concepts such as scarcity and comparative advantage and measurement concepts such as gross domestic product, consumption, investment, unemployment, and inflation.Candidates are also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank and the monetary policy tools it uses to stabilize economic fluctuations and promote long term economic growth, as well as the tools of fiscal policy and their impacts on income, employment, price level, deficits, and the interest rate. Basic understanding of foreign exchange markets, balance of payments, and effects of currency appreciation and depreciation on a country's imports and exports is also expected.The exam contains approximately 80 questions to be answered in 90 minutes. Skills Measured: Questions on the Principles of Macroeconomics exam require candidates to demonstrate one or more of the following abilities:• Understanding of important economic terms and concepts• Interpretation and manipulation of economic graphs• Interpretation and evaluation of economic data• Application of simple economic modelsThe subject matter of the Principles of Macroeconomics exam is drawn from the following topics. The percentages indicate the approximate percentage of exam questions on the topic.Basic Economic Concepts (12%–15%)Measurement of Economic Performance (12%–16%)• National income accounts• Inflation measurement and adjustment• UnemploymentNational Income and Price Determination (15%–20%)• Aggregate demand• Aggregate supply• Macroeconomic equilibriumFinancial Sector (15%–20%)• Money, banking, and financial markets• Central bank and control of the money supplyInflation, Unemployment, and Stabilization Policies (20%–25%)• Fiscal and monetary policies• Inflation and unemploymentEconomic Growth and Productivity (5%–10%)Open Economy: International Finance (5%-10%) Instruction & Assessment Section 4 Content Section 4 Content Left Section 4 Content Right Supplemental Materials Section 5 Content Section 5 Content Left Section 5 Content Right Section 6 Content Section 6 Content Left Section 6 Content Right Button Content Rail Content 1 Other offerings from College Board's College-Level Examination Program (CLEP) American Government (CLEP-0007) American Literature (CLEP-0010) Analyzing and Interpreting Literature (CLEP-0011) Biology (CLEP-0018) Calculus (CLEP-0038) Chemistry (CLEP-0019) College Algebra (CLEP-0013) College Composition (CLEP-0040) College Composition Modular (CLEP-0041) College Mathematics (CLEP-0004) View All Courses Page Content