10- Q1 Describe(in one para) the two approaches to computing GDP?

Q2 What is value added? In what way it can overcome the problem of double counting.

Q3 Define GNP? How does it differ from GDP?

11-

a) Explain two methods of measuring inflation (b) Describe different types of unemployment (c) What is Okun's Law?

12-

(a) Why does aggregate demand slope downward?

(b) What factors change Aggregate Demand?

(c) What factors change Aggregate supply?

(d) Define inflationary and recessionary gaps

13-

Q1 What is fiscal policy? Q2 Explain expansionary fiscal policy and contractionary fiscal policy Q3 What are automatic stabilizers? Q4 Explain expenditure multiplier.