(b) A painter pays $500 for paint he uses to repaint a house. He then presents a bill for $1200 that covers his time and expenses to the homeowner. How much do these transactions add to GDP? (2 points) (c) A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, by how much does U.S. GDP change? (2 points) (d) If in some year nominal GDP was $18 billion and the GDP deflator was 120, what was real GDP? (2 points) (e) For an imaginary economy, the value of the consumer price index was 140 in 2013 and 146.5 in 2014. What was the economy's inflation rate for 2014? (2 points)