Nervous about macro- and microeconomics CLEPs

[ryoder]

Macro was my first clep test ever and I used the REA book for it and passed with a 72. It is very important to understand how to read an aggregate supply and gag demand curve. You have to understand what forces can push the curve to the left or right in both cases and why the intersection point is important. Also know how to calculate CPI and that minimum wage laws and unions create unemployment just like price floors on produce create a surplus of expensive products that the market does not pick up.
Really know what marginal utility is, nominal versus real GDP, the role of the federal reserve, what happens to the dollar when the fed lowers the reserve rate or buys govt bonds.