1. Vladimir,afirst-yearbusinessstudentremarks:'Itdoesn'tmakesensethatintermediate goods are not counted in GDP. A computer chip is an intermediate good, and without it, a PC won't work. So why don't we count the computer chip in GDP?'

Provide an answer for the Vladimir's question.

2. Refer to the Gapminder website (https://www.gapminder.org/tools/#$chart-type=bubbles) to

1. a)plot income (as measured by GDP) against life expectancy for US, China, India and Australia to show that GDP and life expectancy are positively related.
2. b)Using the site to plot alternative variables against income to find another relationship which supports the use of GDP as a suitable measure of well-being.
3. You should identify the variables, the trend you observe and include the link to your animations in your response.
4. c)Plot a different variable against income which shows that GDP is not a suitable measure of well-being. You should identify the variables, the trend you observe and include the link to your animations in your response