. Can these activities be considered part of GDP? Answer the following statements by indicating Yes or No. 1 mark each a. John sells fruits in the market in town. b. Two (2) were hurt in car accident and were treated in their local hospital. c. A garage buys spare tyres to sell to customers next year. d. If a Jamaican citizen works temporarily in St. Lucia. e. A Barbadian owns a firm in Haiti. 2. Suppose you are given the following information: Qs = 200 + 3P Qd = 400 – P where Qs is the quantity supplied, Qd is the quantity demanded and P is price. a. From this information compute equilibrium price and quantity. 6 marks b. Now suppose that a tax is placed on buyers so that Qd = 400 – (2P + T) where T is taxes. If T = 20, solve for the new equilibrium price and quantity. (HINT: Note: You are solving for the equilibrium price for sellers and buyers and the equilibrium quantity).