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Question 7 Which component of GDP will be affected by each of the following transactions? If you believe that none of the components of GDP will be affected by the transactions, briefly explain why

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Question 7 Which component of GDP will be affected by each of the following transactions? If you believe that none of the components of GDP will be affected by the transactions, briefly explain why. You purchase a new apartment. You purchase a second-hand car An overseas person studies a degree at an Australian university A dairy farmer in Victoria produces milk which is shipped to Singapore A Bakers Delight store purchases a new oven The government builds new roads to help improve access to mine sites in Western Australia WWDOPJ? Question 8 "GDP is a useful indicator of a nation's economic performance, however it does not fully measure the scope of the economy and the well-being of a society". Explain whether you agree or disagree with this statement? Question 9 Distinguish between ongoing demand pull and ongoing cost push inflation. Carefully draw them. Which type of inflation is harder to deal with? Explain your reason? Question 10 Economics say 'full employment' does not mean that the rate of unemployment is not zero. Explain why there is a contradict in this statement?