1. The above represents one of the most important variables in macroeconomics. Which of the following statements is FALSE about this ?
It is equal to GDP.
It is equal to aggregate expenditure.
It is equal to consumption, investment, government purchases, and net exports for an economy.
It measures the market value of all final goods and services produced in the economy annually.
It measures economic performance.
Its components are broken down with the circular flow of income and expenditure model.
It is equal to disposable income times net taxes.