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The whole of “Nearly three teaspoons of sugar” is a noun phrase and acts as subject of the sentence. Please also note three teaspoons of sugar is plural as:
one grain of wheat (singular) three grains of wheat (plural)

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I once heard someone remark "Australia has no real culture", in this context I took it to mean they lacked a history of "high Culture", or perhaps they were putting down enthnic values/lifestyle of Australians. In this case I guess there might be an ambigious overlap.

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