depreciation Net exports and capital flows Links to financial and goods markets Exam Multiple Choice (2/3 of Score) 60 Questions in 70 Minutes Reflects Topic Outline Above Example: 3-6 Questions on Economic Growth. Free Response (1/3 of Score) 3 Questions in 60 Minutes (with 10 minutes of recommended reading and planning time) Score distribution The exam was first held in 1989, along with Microeconomics. Grade distributions since 2011 are as follows: Criticism Tawni Ferrarini, James Gwartney, and John Morton have written that the examination does not adequately cover recent advances in the field: "The AP macroeconomics exam and resources largely reflect the simplistic Keynesian view from the 1960s and 1970s." The College Board updates the AP Macroeconomics curriculum with the guidance of college and high school economics instructors. The most recent update was published in 2019. See also Economics Economics education#Curriculum Glossary of economics References AP:Macroeconomics Study Resources Reffonomics.com Economics education Advanced Placement