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AP Macro: MEA‑1 (EU), MEA‑1.A (LO), MEA‑1.A.1 (EK), MEA‑1.A.2 (EK), MEA‑1.A.3 (EK)
In this lesson summary review and remind yourself of the key terms and calculations used in describing the output of an economy. Key topics include the expenditures approach, income approach, and value added approach to calculating GDP and why imports are subtracted from GDP.