Question: Question 1 (b) List and briefly explain each components of Gross Domestic Product (GDP) based on expenditure approach (4 marks) Compute how much each of

Question 1 (b) List and briefly explain each components of Gross Domestic Product (GDP) based on expenditure approach (4 marks) Compute how much each of the following items is worth in terms of today's dollars using 177 as the Consumer price index for today. 1) In 1986, the CPI was 17.7 and the price of a movie ticket was $0.25 in that year, (2 marks) ii) In 1992, the CPI was 13.1 and a cook earned S15.00 a week in that year. (2 marks) In addition to investment in physical and human capital, state TWO (2) other public policies that a country might adopt to increase productivity. (2 marks)

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