Due date: November 8th , 10 am 1. "The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears, the Bureau of Economic Analysis reported Thursday. GDP, a sum of the value of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, according to the advance estimate. That was above against the Dow Jones forecast for 2.3%." Source: https://www.cnbc.com/2022/10/27/us-gdp-accelerated-at-2point6percent-pace-in-q3- better-than-expected-as-growth-turns-positive.html a. Describe what is meant by GDP and explain how it might be used to measure economic growth. [4 marks]. b. If there is a decrease in the rate of growth of the GDP, unemployment often increases. Identify three types/ causes of unemployment and explain them. [6 marks] c. Explain why unemployment is regarded as a serious economic problem. [4 marks] d. Discuss how (i) consumers (ii) firms and (iii) the government are affected when there is not economic growth. [6 marks)