In this episode of Full AP Course Review, we dive into essential macroeconomics concepts starting with the circular flow model and GDP calculation, then explore its limitations. Perfect for AP students prepping for Unit 2, we break down the expenditure approach, real vs. nominal GDP, leakages and injections, and why GDP doesn't capture everything about well-being. Get clear explanations, mnemonics, and exam tips to master these foundational topics.

• The circular flow model: households, firms, factor markets, and product markets
• Full circular flow with government and foreign sectors: leakages (savings, taxes, imports) and injections (investment, government spending, exports)
• GDP definition: market value of final goods and services produced domestically
• Expenditure approach formu ...