only question 7 and 11 with full detail

https://www.bankofengland.co.uk/knowledgebank/how-does-the-housing-market-affect- the-economy Qu.7* Vladimir, a first-year business student remarks: 'It doesn't make sense that intermediate 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. Qu. 8 Explain the difference between real and nominal GDP? Which is a better measure for considering long run growth in the economy? Qu. 9 a) Why is GDP an imperfect measure of wellbeing? b) What types of production does GDP not measure? c) Even if all production was included would GDP be a perfect measure of economic wellbeing? Qu.10 What would you expect to happen to household production as a) unemployment rises during i reces. full. b) unemployment falls during an economic expansion. C) Would you therefore expect the fluctuation in actual production i.e. "GDP plus household production" to be greater or less than the fluctuation in measured GDP? Qu.11# Refer to the Gapminder website (https://www.gapminder.org/tools/#$chart-type=bubbles) to 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. 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. You should identify the variables, the trend you observe and include the link to your animations in your response. 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