AP- Circular Flow, GDP & Business Cycle

Multiple Choice

Ecotopia uses all their resources to only make YACHTS.

Last year they made 100 boats and sold them for $1 million each. What was their GDP?

• $10 million

• $100 million

• $1 million

• $1 billion

Multiple Choice

Oliverland makes two products: spoons and knives.

They made 100 spoons and sold each one for $1. They also made 10 knives and sold those for $10. What is their GDP?

• $200

• $150

• $1000

• $100

Open Ended

What lead to China's decline from the top GDP in 2019 to being in 3rd place by 2020 and 2nd place in 2022? Do you believe they will eventually overtake the USA again? Why or Why not?

​Expansion

Multiple Choice

1920s: Expansion or Recession

• Expansion

• Recession

Multiple Choice

1930s: Expansion or Recession

• Expansion

• Recession

Multiple Choice

Early 1950s: Expansion or Recession

• Expansion

• Recession

Multiple Choice

Late 1950s: Expansion or Recession

• Expansion

• Recession

Multiple Choice

1990s: Expansion or Recession

• Expansion

• Recession

Multiple Choice

2008/2009: Expansion or Recession

• Expansion

• Recession