GDP, economic growth, unemployment and inflation
1. What is the gross domestic product of a country? What is meant by 'intermediate goods' and are they included in the measure of GDP? Give an example of a good that could be an intermediate good or a final good depending on the situation. Explain your answers.- Maximum number of words 120
2. A 45-year-old person who has been made redundant in their current position, is looking for work and is able to start immediately, but does not have the skills required by industry and needs retraining. - Maximum number of words 40
3. A person who is working for 10 hours a week paid work in a supermarket while studying full time. The person is looking for full time work but cannot start until they finish their study in 3 months time. - Maximum number of words 40