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Assignment one Due at the beginning of class on next week Instruction: Answer all questions Question one What component of GDP (if any) will each of the following transactions affect? Explain. a) A family buys a new refrigerator. b) Aunty Jane buys a new house. c) KinaPharma sells drugs from its inventory. d) Emmanuel buys a pizza. e) The government builds a new Motorway from Accra to Kumasi f) You buy a battle of California wine. g) Samsung build an assembly plant in Ghana. Question two Consider an economy that produces only four types of fruit: apples, oranges, pineapples and bananas. In the base year (2017), the production and price data were as follows: Fruit Quantity Price Apples 3,000 bags $2 per bag Bananas 6,000 bunches $3 per bunch Pineapples 4,000 $1.5 per Oranges 8,000 bags $4 per bag In the current year (2020), the production and price data are as follows: Fruit Quantity Price Apples 4,000 bags $3 per bag Bananas 14,000 bunches $2 per bunch Pineapples 7,500 $2 per Oranges 32,000 bags $5 per bag