AP Macroeconomics Unit 2 Progress Check: MCQ Questions and Correct Answers
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Course
AP Macroeconomics
Institution
AP Macroeconomics
AP Macroeconomics Unit 2 Progress
Check: MCQ Questions and Correct
Answers
Which statement is true about the circular flow diagram of an economy?
A) The market for goods and services connects household spending to government spending.
B) The market for factors of production connects household ...
Correct. The expenditure approach to calculating GDP sums consumption spending, government
spending, investment spending, and net exports. Using the numbers provided in the table, the country's
nominal GDP for 2017 is therefore 13+3+4+(−1)=19 billion dollars.
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