<p>I think inherently they do via class rank. If you are at a great school that offers many AP classes, the top 10% of students are taking 6-7, and have a 4.0 GPA, your transcript will not look as great if you have only taken 3 AP classes, and have a GPA of a 4.0.
They have to look at things in context. Part of that is what the school offers. Part is what did other students achieve given the same opportunities and learning environment.</p>
<p>Note: this is based on personal observation, what I have learned from other parents, what I have been told by GCs and aN admissions rep on a campus visit. Nothing based on books I can reference or inside information.</p>