1. What is the composition problem? A. The problem affecting CPI calculation since the bundle changes over time. B. The problem affecting GNP calculation since everyone buys different bundles of goods. C. The problem affecting CPI calculation since everyone buys different bundles of goods. D. The problem affecting GDP calculation since everyone buys different bundles of goods. 2. Which example below is an example of the quality problem? A. Toasters 40 years ago lasted longer than toasters do today B. People begin consuming more steak and less burgers C. Computers are invented. D. The price of all goods has increased so prices today cannot be compared to prices earlier without calculating inflation. 3. Which of the choices below is not a problem with calculating CPI? A. Quality B. Non-market production C. Composition D. Weighting 4. Which example below is not counted in GDP? A. Mom buys gasoline B. Mom is the chef of the household C. Mom buys groceries D. Mom is paid for being a chef at a restaurant 5. Which example below is not counted in GDP? A. A factory spills pollutants into a river nobody owns B. Jerry sues the factory for polluting his property and wins C. The environment is never counted in GDP D. The price of a property falls when an airport is built next door