Hi, just wondering in regards to Written Assessment ECO10004 Economic Principles Part C. has that all been answered?

Task 5.1
1. Non-monetary economy or informal sector is not included in calculation of GDP. GDP
asically does not take into account economies where is no money involved. For
examples services provided by housewives, or yields are grown in the backyard or
garden.
2. Underground economy is not taken into account while calculating the GDP. But these
transactions contribute to production such as tax avoiding events or illegal trade. These
are often unreported as they happen behind closed doors and thus unaccountable.
Task 5.2
GDP in 2015 assuming base year as 2011= 10275
GDP = (Price of pizzas in 2011 x Quantity of pizzas in 2015) + (Price of haircut in 2011 x
Quantity of haircut in 2015) + (Price of backpackers in 2011 x Quantity of backpackers in 2015)
GDP=: (10*120) + (15*45) + (140*210) = 1200 + 675 + 8400 = 10275
Task 5.3. This person is not in labour force as he is cu
ently not looking for work
Labour force consists of working population between 16- 64 who are cu
ently employed or
seeking employment.
Task 5.4. This person is employed as he is earning living by working and hence a part of
labour force.
Task5.5. This person is not in Labour force as this individual is cu
ently not employed or
looking for work for next 3 months.
Task 5.6 Exempting land taxes, is not an advantageous situation for the poor in “Shanti Town” of
Peru. It is actually government failure for not being able to
ing regulations in the land. Yes
people are not land taxes for the houses built on these lands. But these properties are unregistered
and thus they cannot be used as an investment, and will be very difficult to sell or buy as these
lands possess no values or titles. Absence of legal documents will create difficulties for the
people of Shanti Town as they will not be able to mortgage and transfer in the event of an
emergency or any other factors. These often lead to poor economic conditions for the country as
there is no proper contribution in revenue thus hampering the development of the economy of the
country.
Task 5.7 Real estate and other businesses owned by the poor people of Peru which consist of a
large chunk of domestic assets. If these properties are actually documented legally, these would
lead to development of economy and ultimately people of Peru will be benefited by social
welfare schemes etc. Informal economy is meant for poor people, but most of the people are
above poverty line and they use it for different economic activities for earning money. They
make good amount of money by possessing “Dead capital“and using it for their own advantage.
New Growth theory states that Humans unlimited wants and desires leads to economic growth
and increase in productivity. But for poor people of Peru, this income is unaccounted and do not
contribute to economic activities. It rather leads to loss of revenue for government and there is
increase in fraud events in order to exempt from taxes.
Task 6.1
CPI= [(cu
ent quantity basket * cu
ent price) / (cu
ent quantity basket * base price)]...