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AP Macroeconomics – UNIT 1 Basic Economic Concepts What is economics? • A social science that studies how resources are used (often concerned with how they are used to their full potential). Macroeconomics • involves economic problems encountered by the nation as a whole. Macroeconomic Concepts: Financial Sector Unit Test AP Macroeconomics Chastain Multiple Choice: Choose the letter of the BEST answer for each question. There is only one possible answer for each question. Do not write on the test! 1. Which of the following is NOT a type of financial asset? a. Bonds b. Stocks c. Bank deposits d. Loans e. Houses 2.