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SECTION A QUANTITATIVE ECONOMICS [22 MARKS] QUESTION 1 [5 Marks] 1.1 1.1.1 1.1.2 1.1.3 1.2 Briey describe each of the following concepts: Gross Geographic Product.

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SECTION A QUANTITATIVE ECONOMICS [22 MARKS] QUESTION 1 [5 Marks] 1.1 1.1.1 1.1.2 1.1.3 1.2 Briey describe each of the following concepts: Gross Geographic Product. [1] Seasonal adjustment of data. [1] Reference cycle. [1] Briey describe two advantages of implicit price deators compared to explicit price indices such as the CPI and PPI. [2]

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