Macroeconomics

Macroeconomics
The quiz is untimed and open book. You must complete it by Sunday November 22 at 11 PM. Please let me know if you have any questions.
Each question is worth 25 points. Some questions have multiple parts so make sure you fully address each issue. Please check your grammar and spelling, as they will make up 5 of the possible points. Another 15 points is made up of showing the knowledge gained from the text and class discussion. The final 5 points is for the precision of your explanations.
1. Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. What motivated the producers of those individual products to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? Who decides whether these particular hardware products should continue to be produced and offered for sale?
2. How does an increase in imports impact US National Income, all other things being equal?
3. The formula for calculating Gross Domestic Product is C+I+G+(X-M). Please explain each component sufficiently to highlight the differences among the items.