AP Macroeconomics Module 10 Quiz

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Mr. Weathers AP Econ 2025

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7 Terms

1
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Know the definition of GDP

The total market value of all final goods & services produced in a country over 1 year

2
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Know the equation of GDP

C+I+G+(X-M)

3
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What is the name of & all parts of the first variable in the GDP equation?

Consumer Spending: consumption & household spending on goods & services

4
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What is the name of & all three parts of the second variable in the GDP equation?

Investment Spending: business purchases of tools/machinery, new construction, changes in business inventory

5
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What is the name of & all parts of the third variable in the GDP equation?

Government Spending: government spending at all levels on goods & services

6
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What is the name of the last group of variables in the GDP equation?

Net Exports: exports minus imports

7
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What are six things not included in GDP

  1. Intermediate goods & services

  2. Black market transactions

  3. Imports

  4. Used goods

  5. Transfer payments

  6. Stocks & bonds