It is my last test. So I need a tutor is well conversant with the questions to answer them appropriately.

1. What is the definition of the GDP?

2. What items are not included in the calculation of GDP?

3. How is it calculated using the expenditure approach?

4. How is it calculated using the income approach?

5. How is it calculated using the value added approach?

6. Why are money prices used in calculating GDP?

7. Explain the problem of "double-counting" and how it can be avoided.

8. Discuss the strengths and weaknesses (i.e., problems) of using GDP data to measure the social well being of a nation,

9. What is the business cycle?

10. Draw a hypothetical graph of a business cycle labeling the four phases of the cycle.

11. Explain what is happening during each phase of the cycle with:

a. output,

b. employment,

c. and inflation.

12. Discuss the advantages anddisadvantages of the payback and accounting rate of return methods ofinvestment appraisal. Note: you are not required to perform anycalculations for these two methods; if you do, you will not score anymarks for it.

13. Identify and discuss any likely limitations in the evaluation of the proposed investment in Alpha and Beta.

14. If Ceder Co were offered theopportunity to lease the standard model machine over a four-year periodat a rental of $15,000 per year, not including maintenance costs,evaluate whether the company should lease or purchase the machine.

15. What financial and non-financial criteria will need to be considered when deciding whether the investment should be made.