9. In 2018 South African real GDP rose while real GDP per capita fell. Explain these apparently contradictory results. (3 marks) 10. Explain the significance of expectations in shaping investment spending. In your explanation, be sure to mention the different types of investment cycles discussed in lectures. (5 marks) 11. Define: 11.1. Consumer Price Index (CPI) (1 mark) 11.2. Producer Price Index (PPI) (1 mark) 11.3. GDP deflator (1 mark) 11.4. What are the key differences between the CPI and GDP deflator? (2 marks) 12. Morpheus is a Farmer who produces wheat (using own his own labour and seeds, on land that he rents), he sells it for R1000 but pays R500 rent to the land owner. Sylvester is a Miller who buys wheat for R1000, he produces flour and sells it for R3000. Labour costs are R1000 and costs (rental, interest) are R500. Bob is a Baker who buys flour for R3000, produces bread and then sells it for R5000. Labour costs are R750, overheads are R400 Use the information above to calculate GDP using 3 different methods. Replicate and complete the table below in answering the above question (6 marks) Production Income Expenditure (Value added) (Factors of production) (On final goods) Farmer Rent & interest Bread Miller Wages Baker Profit Total Total Total