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A.P. ECONOMICS EXTRA CREDIT ASSIGNMENT The following questions are similar to some of the questions you could potentially see as part of the A.P. Macroeconomics test in May, 2013, and will be part of your final exam. You may use your textbook, your notes, assignments, and past homework to prepare responses to the following questions. As usual, emphasize the line of reasoning that generated your results, and use correctly labeled diagrams, with clearly marked axes and directional changes, if necessary. The questions are due Monday, January 7, 2013, and are worth 20 points. OUTPUTS AND PRICES IN GALA LAND This Year?s output This Year?s price 400 loaves of bread $6 per loaf 1,000 gallons of water $2 per gallon 800 pieces of fruit $2 per piece

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