Scribd Logo
Unggah

Selamat datang di Scribd!

  • Assignment Economics

    Diunggah oleh

    LInda
    3 tayangan36 halaman
    Assignment

    Hak Cipta

    © © All Rights Reserved

    Format Tersedia

    PDF atau baca online dari Scribd

    Apakah menurut Anda dokumen ini bermanfaat?

    Apakah konten ini tidak pantas?

    Laporkan Dokumen Ini
    Assignment

    Hak Cipta:

    © All Rights Reserved
    Unduh sebagai PDF atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    3 tayangan36 halaman

    Assignment Economics

    Diunggah oleh

    LInda
    Assignment

    Hak Cipta:

    © All Rights Reserved
    Unduh sebagai PDF atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 36
    Ecst60tv101 790019 4 August 2016 LLearing units 4 and 2 of the study guide and the relevant chapters ofthe prescribed book 46 questions 20% of the somestor mark ‘Through myUnisa or on a markreading sheet _Anawor this assignment onthe prescribed answer sheet or euitton mya, 14 14 ‘The twee major lows in any economy a [1 Income, spenting and saving [2] Income, goverment spending and consumption. [8] _ spending, production and investment [6] production, income and spending, {5} _ production, exports and government spending, hich one af the flowing statements is correct? [1] Flows can only change asa rest of stocks [2] A-stock has atime dimension and it can be measured over a period [3]. stock has atime dimension and it can thus only be measizod ata particular noment. [4] Aiow has a ime eimension and ican be measured over a pecod, [5] _noame and production ae examples of stock variables “The two mjc markets nthe circular flow a income and expenditure are the 11] foreign exchange market and factor markt [2] 900ds market an factor marke. [8] 900s markot and sores market. lub market and private market, 15] factor market ana production markt Which one of the folowing statements on the factors of production is rue? 11] Money isthe most important factor of production, as one cannot afford any of th ether factors of producton without it [2] AI natural resources are renewable and can thus be re-used al ferent Sages of the production procoss. [51 Labour incides gold miner, civil servants, bank tellers and fleet managers, (6) Entrepreneurship is classifed under labour ap a facor of production, a5 entepreneure are ‘usually refered to as "managers" and are part ofthe ergansatons labour fore. [5]. Capta ers othe avalabe nana resources tata business has for investmont purposes 55 18 16 18 18 56 Which one ofthe folowing statements on the remuneration othe facars of production is tue? [1] The remuneration for capital's profi, ab the business aims to ear a proft on Ks franca [2] he remuneration fr labours rent, a8 workers ave ble to pay thelr rent wih the money they [3]. “he remuneration fr entreprensurship i a salary, a8 entrepreneurs ore aso rewarded for their fonts. {41 “he remuneration for money i inleres, 98 businesses depest their money into interest-bearing [5] “he remuneration for natural resources i ren, as natural resourses consist ofa gs of nature. In the orcular ow of income and spending in South Altea fis in the factor market ocares households, while Tousoholds i the goods. markol becomes ‘ems. Expenditure by foreigners on South Alcan procucts constitutes the area Tow. [11 heamet; spancing by income to; spending by: a leakage rom [2] home ta; ineame to: spending by: spending by, an injection into [8]. spending by income to: spending by; income to; an jection into [4] spending by: spending by; income to: income to: a leakage fom [5] reduction of spending by; production of: ncame to; a leakage fom ‘The diferent components of income are (1! wages, ren, natura resources and household consumption [2] _iestment, government spending, household consumption and export. [5] natural resources, entrepreneurship, capital and money [6] wages, rent, interest and prot [5, natural resources, ettepteneurship, labour and capt In the streularfow f income and spending, government [1] _hjets goverment spending int the factor market and collects taxes fom the goods market. [2]. vihraws taxes trom fms and households. [5] provides pube goods and services to the factor market and receves labour from the goods rarket [4] wihcraws government spending by proving Ito fms and withiraws taxes trom househokis [5] provides pubic goods and services lo households ana wihdravs taxos trom the goods marke. In the seule fow of incon spending, nancial insttions 10) act a8 an intermediary between those who have surplus funes and those who have deficit funds. [2] are not aways uso, as households generally spond al ther avallabe funds. [3]. create an injection ino the flaw by colecing savings from parcipants wih surplus units only therefore, there is no nood to provide funds to deft units. [4] generally ext to colect investment spending and transform tints savings. [5] donot provide the goods market with any sorvies at al, Eos 601/101 1110 Which ofthe folowing is leakage rom the ercula flow of income and spending in Sout Acs? 112 148 114 [1] dofence expenditure bythe South Atiean government, vs contact with local itary suppers 12) government purchases of textbooks for salon schools [3] the sale of export fuito the Eurepean Union [8] investment by South Afcan Breweries in anew brewery n South Africa [5] _adecsion by a majr supermarket chain to sell Danish beer ‘The labour market isan example ofa [1] factor market. [2] goods market [3] foreign exchange market. [4] financial market [5] money mart Wich one of the foiowing statements I false? [61 Wihout exchange, specialised producers cannot sais ther wants from their own production. [2] The division oflbour takes place in production processes where each stage ofthe process is performed by an individual worker oF groups of workrs [5] Workers who specialise in the production process wil ony do sin parts of the process whore thay have an absolute advantage [4] The three main economic activities ar production, consumption and exchange. [5] | Aperson should specialise where the opportunity costs are the lowest Ifthe Minister of Finance wanted to withdraw funds from tke economy using the flows of income, spenting and production, you would ace him 0. [1] increase government spending o fms. [2] decrease government spenaing to firms. [3] _nerease spending on pubic goods and series. [a] increase taxes received from households. [5] increase consumer spending on goods and services by promoting the goods market, Money overcomes the prablem of 8 double exincidence of wants inherent in the barter system [1] medium of exchange 2] unit of account. [3] standard of dotered payment. (2) store of valve. (5) tnancial intermediary 115 116 Which one of he folowing statomenis is true? [1] Properties of money include durability, vabilly an nvnsc value. {2]__ Won and copper make good coins today, due tothe scarce nature of the [3] | Cerieates of doposit were th rst for of paper money. [4] Fiducary money refers to money that is completly backed by gol [5] Due to South Africa's abundance of gle, South Aican paper money is backed by gold held at the South ican Reserve Bank ‘Tne most comprehensive measure of money is equalto [11 M2 plus al short-term and medium-term deposits of the domestic prvate sector with monetary instittons. [2] Mi plus al sorter and medium-term deposi of the domestic private sector ity manotary insttuons. [3] M2plus all longterm deposts ofthe domestic private sector with monetary instutlons [6] M2plus all meckum-term deposi ofthe domestic private sector wit monetary insttutons [5]__Mr plus all meckum-term deposis ofthe domestic private sector with monotaryinstutons, 4.17 asad on your answer ta question 16, use the table below to fnd the total comprehensive measure of money forthe year 2013. ~ crevaton | “Sopot epaat = on ‘Source: South Ahican Reserve Bank Quartaty Buletin, December 2014, Statistical ables 198 se [R47 014 milon (2) R548 323 milion [3] R96 337 milion [4] 2513 855 milion [5] R1132039milion Which of the folowing statements i tue regarding te fancial sector? [1] In most counties, governments are general net dorowers and thereforo not Included among surplus uns, 1P1._ Financial intermardares make drectfhancing posse by ating 36 @ Ink between surplus and deft units, [2] In South Aftca, household savings are low and therefore, commercial banks generaly do not rant oans to big businesses. 4) Most transactions inthe South African financial markt involve goods, as South Afica has an abundance of natural resources. [5] Entrepreneurs who neod funds to start up a business are not classified as deft unit by the goverment, and are thus encouraged to raise their own funds. 1.19 Which one of te folowing sa function ofthe South Acan Reserve Bank? 1 2 6) 4) 8 “Tofomuate and imploment fecal pokcy ‘Tomalian financial sabity Tofisance government expenditure ‘Toprovide pubic goods and services TToact a a banker fo foreign counties tha wish to borrow funds 1.20 The uncion ofthe South Atican Reserve Bank as bank supersor ental. t el 8 “4 1 providing approval to banks when they apply to provide personal loans to their cents, reducing interbank settement risks by reducing the potental for setement defaut by one or more banks. ‘making, isting and destroying banknotes ana coin, lactiovng @ sound, aflent barking system in the intrest of depositors of banks and the economy a8 whole. ferridating an exchange rate poly. 1.21 Which one ofthe folowing statements incorrect? a a 1 1 fe) ‘The opportunity cost of holding money balances isthe intrest that could have been earned it themaney had boon used to purchase interestearing asses Instead, ‘Anyone who wishes to ener into transactions in a monetary economy has to Noid maney a8 @ radium of exchange “Te quantity of money demanded for ransacton purposes depends on the eve of income “The domand ix money as an 9580 aso called the speculative demand fr money. “The quanity f money demanded for speculative purposes is negatively related 16 tho interost sate 1.22 Which one of the folowing statements i incorect? Oo fal a 8) 5 As terest ales increase, bord pris dace ‘As interest rates decroase, bond prices increase ‘Thereis a positive relationship between intrest ates and bond pices. meres rates ae high, the quantty of money demanded will end to be low. ingrest rats ae low, the quant of money demanded wil tnd tobe nigh 4.28 The flqure below nceates that Quantity of money [1] both the kxorest rate and the level of income are Important in determining the demand for ‘mony, which fs versely oiatedt the interest rato [2]. oniy the interest rte i important in determining the demand for money, and therefore, the demand for menay curve is negatively sloped [3]. an increase in the lave of income inthe econemy wil rutin a movement along the cure, as Indeated by th change in equilibrium trom Esto E; [4 the postion ofthe demand curve for money is determined by the demand for passive b ‘thio Is determined by the lave of income [5] the demand for money is rot a function of income, as the South African Reserve Bank can provide people with loans should they have a shortage of income, and therfore, income is nok indicate on the raph 1.24 Which one of the flowing statements is Incorrect? [11 The ont important at inthe economy isthe ropo rat. (2] Tho interbank lensing rate an example ofan interest rate that I used inthe South Afican economy. [9] Intrastate can generally be thought of as the price that consumers pay fr loans. (2) Interest rates in an economy generally tend to move in harmony, {5} Interest rates re the rates that banks earn on funds let. 1.25 The independent money supply cure [1] is determined by the South Afican Reserve Bank, 35 ths Inttutlon has tke authory 10 print ‘and ditbute money. [2] is determined by tho government, as they have the authority to make ical decisions [3] doas not ist [4] Ie determined by commercial banks that provide loans to cant. [5]. Is an upward-sioping cure independent of money demand, 60 126 tar Ecste0t101 ‘The quantity of money n an economy is [1] cetermined by the interaction between tne costo ero andthe damand for money. [2]. fined bythe South Atican Reserve Bank [3] _doperdont onthe money supplied [6] determined by the Minstor cf France. (5) decided jonty by the Ressevn Bank and the goverment, as it hes important impications for inftaon targeting, ‘nen one ofthe folowing statements on monetary poly is Incorect? [1] Monetary poy In South tics implemented by the South Arican Reserve Bank (SARB). [2] The key decision-making unt isthe Monetary Poley Commitee of the SARE, [8] The key instrument of monetary poly isthe repurchase rate ((ep0 rate). (4) The SARE's main objactive to contra the growth of tho money stock, [5] _ The SARB pursues a formal inflaon target, st by the Minstor of Finance, in conjunction wit the SARB, Which one of he flowing statements is ncorect? [11 In South Aca, money i crested exclusively by the South African Reserve Bank [2] The stock of money consists largely of bark doposis and barks create these doposts by ‘making loans, [31 Monay creation by banks is constrained bythe demand for bark loans. [6] The South Aican Reserve Sank uses changes In intrest rates as an attempt to regulate tha rate at which new money is coated. {5} The stock (quantiy) of money in the economy is exsentaty determined by te teraction of he intoost ato ord tho demand for meney. Thera i¢ no independent supply of wonoy Uso the information below to answer questions 1.29 and 1.30: ‘Afr the implementaion of @ new government polcy 10 increase spending on infrastructure, the employment Yevels winin the county ere at an slltme high. As a resul, tho county Is curren ‘experiencing inflation ovals of 7% per annum. 129 130 How would the South African Reserve Bank approach monetary policy i terns of Ms intiaton- ‘argetng mandato? [1] Implement poticy med at increasing the loves of ination, Implement policy aimed at decreasing the levels of ination [5] _ Implement poy aimed at keepng the ination levels constant (4) _ Refrain from implementng poy, as it cannot contal the levels of infiaion, [5] _ Advise government onthe type of fiscal poly that can help with the ination evels. ‘Which tol wou the South African Reserve Bank use to achleve these targets? [1] Decrease the repo rate [2] Increase the repo rate [3] Keep the repo rate constant. [4] Watto see what government wil do about [5]. Adviee the government oneresse income taxes, ‘As pat of cur crive to improve our sence, the need arose to gota carer pectureof our student profes. ‘Tothis onda 86 of questions (134 101.46) wore developed, which you must please answer. 1.31, How do you usualy access the nierne for studying purposes? [11 Laptop 2] Computer [9] Smartphone {6} Teblet (5) donot have access. 1.82. Where do you usualy acco the internet for studying purpose [1] From wor 2) Fromhome. [3] Someone else's home, [4)_Unisa computer laboratory (8) omer, 183 How much of you data bundle per month do you have avalate for studying purposes? [1] Ihave united acces to the intorel [2] Less man 500 Ma, [5] Between 500MB ane 168. Is] Between 168 and 268. {5} More tan 268 41.34 Tho seins of th loaning unt that had o study to comple tis assignment [1] helped moto work through he textbook systomaticaly. [2] didnot help me to understand the study material inthe textbook beter. [3] vas totaly ireievantto the assignment questions. [4] {oc not use the fearing units at al although have acco tot [5] Ihave not received a study guide, 1.38 Indicate the value being added by thé DVD during your completion ofthis assignment [1] hwas vor hept [2] was fait hep [3] not add any value Is] not use it [5] Ici rot use a8 not part oft preserve sei [36 Indicate the value boing added by the CD-ROM curing your completion of tis assignment, [11 bas very hall 2) was fairy helpful [3] eld not add any va FA) tid nt ust [5] Idi ot useit es itis not part of the proscribed materia. Ecs1601/101 4137 id you make use of ether resources onthe WWW apart for myUisa? Hn) Yes. [2] No, because Ido not hove access to the Iiemet [3] No, Bacause of th cot of using he internet |] No, because the printed stucy material was suliont for me to understané the work, [5] _ No, because Ici not have the time to dot 1.38 Conceening the module website on myUnis. [1] am not aware of the website. 2] 1am aware of the webslte but hve not vskod it [3] visited the website once but al no find It hep [8] vit tho website regulary and fin help [5] _visithe website ony when Ioceive an announcement that theres something new. 1.39 Which one of te folowing best describes your use ofthe e-utor ste on myUnisa? 11] 16d not ws iat 2] ony vistea it once or twice. [3] 1Mited occasionally. (2) sisted i rogulary. (5) lvistod extensively. 4149. Concoming the discussion forum on the eutor webp con myUnisa: [1] Lam not eware ofthe dacussion forum, [2]__ lam aware ofthe escussion forum, but donot use it [3] visited the discussion frum atleast once, but dé not find itintrestng. [a] _Ivisitthe eiscussion forum regularly and take part TS]. woud ike to takepart inthe discussion frum, but do not know how to 1.41 Which one of ne flawing best describes your experience wih the services ofthe etutor? [fait extremely help fat fay lp 1B] Ife it heipta, [a] 16 not find it very hela [5] 16 not fini hel at al 1.42 Which ofthe folowing describes your experience vith the Powerpoi: sis for each learing unt ‘hat re supped on myUnisa bes? [1] am not aware of the Powerpoint lées, [2] am aware of the sides but have not used [3] am aware ofthe sis and have used it sometimes. [5] lam aware of the sides and use it regulary 33 143 Which ofthe folowing deserbes your experiance with the Powerpoint sides foreach lasing init ‘hat a suppked on myUnisa best? [ind extremely hou 2]. ting fay help [3] fed hep [4] [dnt fr very het [5] |i not rd i het at a 1.44 Which ofthe folowing desorba your experiance with the qui for eae earring unt that are supplied ‘on myUnisa best? [1] lam not aware ofthe quizes (2) lam aware ofthe quizzes but have not used [3] lam aware ofthe quzzes and have used it sometimes. [4] lam aware ofthe quzzee and use it regulary 1.45 Wich ofthe folowing deserbes your experience wih the quiz for each earring unt hat are supplied con mybnisa best? [11 find it onremely help [2]. find it faty olp [3] fed it helpful [41 id not ft very het [5] ld not fhe tal 1.48 Do you etond te tutor cassas offered atthe learning centres? [1] Yes, tho tutorials help mo understand the wor better. [2] Yes, but to tutorial dé not help me. [3] _ No, prefer to work by myset [4] No, thre sno ttonavalale fo thie module atthe laaming oni elosset nme [5] _ No, for any ner rason. Ecere0101 8.8.2Assignment oz ‘Unique number: 795480 Closing data 22 August 2016, Content: Learning units 3 to of the study guide and the relevant chapters of the prescribed book Questions: 80 questions 2002 of tha neeactar mark ‘Through myUnisa or on a mark-reading shest Please answer this assignment on the prsctbed answer sheet or submit on myUnisa, aa 23 24 ‘The policy that comprises the compesiion and level of public expenditure, taxation and berrowing is commonly refered © a8 [1] monetary potey 2] government poley [5] taxation poey [a] Asal potey Which ofthe flowing is nota way of financing government expenditure? 11) foreign baring [2]. taxes trom households and fms TS) domestic sortowing [4]. borrowing om goverment itself The public sector in South Aca complses [1] _contal government, the South Aican Reserve Bank, local goverment and publ corporations [2] central goveramery, regional government, local government and pubic corporations [3] the treasuy, central government, local government and pubic corporations {4] the South Atcan Reserve Bank, the treasury, conrl goverment and oal government \Which ofthe flbwing correct explains the intoracton between government, households and fee in ‘an economy? [1] _ Government receives taxes fom fms and spends only on households. [2] Government receivs taxes from both households and fms and in relum provides both role- players win public goods [8]. _The goverment purchases factors from the goods market and goods rom the factor market [a]. The government produces goods which are sold In the factor market to both frms and houssholes. 65 26 28 28 210 an oe In the past two years, the sue of naonaisaton versus pivatisaton has become signicant polical debates in South Area In ts context, what does natenasaton refer to? [1] the changing ofa street names to Indigenous names [2]. the process ofthe change of ownership from private entepise to government [3] the process ofthe change of onrarthip frm govemmento the prvato sector [4] the transference of nership of your small Toyota Cool to your younger sing ‘Which of the following does nt form pat fiscal pokey? [1] achango in value-added tax [2] achange inthe repo rate [3] a change in personal income tax i4] change inthe administration of national pensions [Ate end of Fabrusry 2015, the Minstr of France announced inthe budget speech tat income tx ‘ate would increase by 1 percent. The planned poy is an example of [1] _expansienary monetary poley [2]. contactionary monetary policy [3]. expansionary fiscal potcy (8) _contractonary fiscal policy Fiscal poly refers to movements in... almed at iuencing... [1] government spending the interest rate level [2] taxes and goverment spending; the rate of nflation [5] government spending and taxes: aggregate output [4] the Interest rate level and government borrowing: the defi of the goverment Which one ofthe flowing correctly indicates the appropriate plc action for government? [1] Inorderto simulate econamie activity, government increases the tx ral. [2]. Inorder to “dampen dom or reduce econamie actly, goverment increases ts spending [3] order to stimulate econamic activity, government reduces the tax rat, [8] lrorder to “dampen down” or reduce éconamic actly, goverment decreases the tax rate, In the event ofa recession, what wil be the appropiate fiscal poley action and how does this affect tho budget deficsurpus? [1] Decrease government expanse: large ial seit [2] _ Increase govemmentexpendture; larger budget surplus [3] _norease government expenditure; larger budget deft [8] Decrease government expenditure; larger budget deficit Nouralty of tax systom implies that [7] _texes should have a significant effect on relative prices [2] texes should have minimal efect on relative pcos [5] _texes ehoulé be convenient [2] the tax burden must be spread as fay as possible 212 213 016011101 ‘Which one of he flowing statomons regarding government aur is comact? [1] Goverment may fai due to the actions of bureaucrats whe put he interest of he general pub ‘iret. [2] Government ight fll due to actions of vote-seeking politicians [3] _ The dea tata government isnot subject to competition prevens government rom failing, [4] Rent-seeking benaviour implies thatthe interests of Irtrest groups come only stor the interests of sosiely at rg ‘A primary factor crving interatonal ade is [1] theneed fo poltical ies [2]. tector endowment or natural resource diferances [3] taste and preferences [8] geographical proximity of trading partners Answer questions 2.14 and 2.18 below based on the nfarmation inthe following taba. where the numbers represen the numberof uns of each goed produced, ‘South Aiea Boswana Grapes 3 6 Textiles 4 2 2.14 Sout Aftica has an absolute advantage inthe production of While Botswana has an 218 216 absolute advantage inte production of OT 2) [5] South Africa doos not have an absolute advantagein the producion of grapas or texts. {8} Botswana does not nave an absolute advandage in the production of grapes or texts. SeuthAtica has a comparative advantage nthe production of, [1 grapes 2) toxtios [3] grapes and textes [4] neta grapes nor textes ‘According to the theory of comparative advantage, @ necessary condo fora county to export a (000 shat [1] the county can produce it using less labour than its tracing partrers [2] the wage rate in producing the good slower in the country compared tts tading partners [3] the county has an absolute advantage in producing the good compared ts trading partners [a] the cost of producing the good relative to thor goed is lower compared to that ofthe country's trading parners or 2.17 Which ofthese statements is corect? [1] The exchange rat is 2 pie. [2] The exchange rate cannct be supply. [51 tfmore South Afican rands are needed to buy one Bish pound string this month than last ‘month thon the rand is sai to have appreciated against the pound string, |] fewer South Afican rands are needed to buy one pound stern tis month than last month, ‘hon the rand sad to have deprecated agains the pound stern, 7 a8 a price because iti not detained by demand and se the table below showing the exchange rates between various currencies andthe South ican rad to ‘anower question 2:18 2014 exchange rate (per South | 2018 exchange rate (per South Currency ‘African rand) ‘African rand) Botswana pula 099 TT Namibian dollar 356 4 (Ghanaian cod 3 = 2.18 Botwoon 2014 and 2016, the rand codi and ‘against he Nai against the puia and against the Ghanaian ela. 11) depreciated, deprecated and depreciated [2 spprecated, appreciated and appreciates (8) deprecated. appreciated and appreciated |) appreciated, coprecated and appreciated 2.19 In the South Atican foreign exchange marke [1] an appreciation of the rand relative to the US dollar wil resuk in an ineease Inthe amount of South Afican exports tothe US [21 _ an appreciation ofthe rand rlatve to the US dollar wil result in an inerase inthe amount of South Afican imports fom the US [918 depreciation ofthe ran celativ tothe US dollar wil result in a decrease. in South African [6] deprecation of the rand elave to the US doliar wil resultin an isrease in South Alcan imports trom he US 2.20 The quanity of South Aean rand supplied wil nerease I) the interact rate in South Aca rises [2] _ South Aican impo rom the US Inerease [3] theres an expectation of a future appreciation of the rand [6] _fewor Sout Aficans travel overseas 221 Ecste01101 tho hrtrost ate on South Aican asses increases, [1] he quantity of dors cupped wil crease [2] he quantty of dolars supplied wil decrease [8] he supply of dlrs wilincrease [4] the suppl of doles wil decrease Us tho fgue below of a hypothetical forekg exchange market to answer ueston 2.22, 22 2a wes N oA and pe dear ‘Guantiy of ols por day ‘The shit inthe demand curve rom D2 to DS canbe atibuted to [1] sn increase in South Acan tourists tothe US [2] anexpectation ofa decrease in value ofthe US dollar [3] a decreasein the purchase of American assets by Scuth Aican investors [4] a decreasein the purchase of South African assels by Amercaninvestrs ‘Assure atte rand-dllar exchange rae ie above the equitbrium exchange ate. One would expect ‘at here wil bo ‘of colre and the exchange rae wi tothe equlbrum level (1) septs, fa (2) splus, rise 21 storage a (a) sortage, rise hit ofthe folowing cannot be found under he balance of payments accounts? (1) caren account [2 capt ransfer account [2] rational get [a] rvocorded transactions 6 225 226 In the balance of payment account, records of payments fr imported goods and services as well as, ‘Of exported goods and servieas are recorded inne [1] capital account 2) carrent account [3] import account [4] export account Lest year inthe Zamunda Kingdom, 59 milan people worked, and 1¢ milion people wore looking for employment but id not find anything. further 8 milion peop were nt looking fer work and dd not 941 pal 25 millon people are under the age of 16 years. According t the st defiation, the Unemployment rate in Zamunda ast year wa im 167% (2) 20% (3) 55.5% (a) 80% Use the table below showing a representative basket of goods used fo ealouate the CP to answer the {question that follows. T | auanminv oF G00 G50) {QUANTITYOF GOOD 50 | QUANTITY OF GOOD B=50 2013 pies m2 [oe —— 227 2016 prices Re 0 “The consumer price index (CP) fr 2014s tm 20 200 (a) 00 (a) 1800 228 m0 (Gross domestic product (GDP) measures [1] tncome and expenaure in an economy within a given tine pers [2] tal value ofall final goods and services produced in an econo aver a porod of tine [9] total value of intermediate and final goods and services produced "an economy over a poiod [4]. ttal value ofall alsin an economy over given me peviod In 2019, Mr Joubert bought @ used 2012 Kia Rio fom his colleague for his wif. radon, he bought a new 2013 South Aiican produced Ford Ranger for himseif and sold the 2008 Ford Figo he w Using ois brotern-law, Which of these purcnases wil be included h the GDP in 2013? [1] purchase ofthe Kia Rio [2] purchase ofthe Ford Ranger [3] sale ofthe Ford Figo (5) _allof he sales and purchases above Ecst6o1/i01 230 In Economics, tis important that ha dstneion ehwean ras and nominal GOP be made in order to determine 11] wheter economic welfare hs changed [2] whether real proaucton has changes [8]. which sector ofthe economy is growing faster [4] whether goods are more excensive inthe curent year n 8.3Assignmant 03 Unique number: 646207 Ciosing date: '5 September 2016 Content: Learning units 6 and 7 of the study gulde and the relevant chapters of the presertbed book Questions: 50 questions Weight: 30% of the somostor mark To submit: ‘Through myUnisa or on a mark-roading sheet Please answer tis assignment onthe prescribed answer sheet or bysubeiting ton myUrisa, 3.4. Which one ofthe following statements is tue? 1 Impl that spending is equal o production and iname but disequilibrium exists 2] > Y implies that ne level of production and income wil creas. F3]__&. Y implies that the lvel of production and income wil decrease 342 Which ofthe folowing statements fare correct? In the simple Keynesian model, the assumption thatthe ecanomy consists of households and fms ha whieh mpeatons)? (@) Total spending consists of consumpton and investment ssencing, (©) Total spending consist of ony consumption spending (@) Total spencing consists of ony investment spending. [1] Ath statomonts are corect. 2 Onyals core. [5] Onybis corer. [4] Only cis corect, [5] _ None ofthe above s corect 135. Which one ofthe following Is NOT a characteste of consumption function? [11 Consumption has a postive relationship with income, [2] _ Consumption is postive regerless ofthe amount of incone. [3]. When income increases, the Increase in consumption is ess thax tho increas income. [4] Consumption has an inverse relatonship wih income. 84 Given an autonomous spending of R100 and A marginal propensty to save of 0,36, what is tho eonsumption function? I) 100 +035 Pe) 1000.65 ) -100+ 035" 4 -100+ 0.857 n 435. Which ofthe folowing statements isare trv in the Keynesian model? (@) An lovestment deciion inves the cost of capital goods, the inert rato and expected (©) Investments inversalyrlated to the intorest rato. (©) ewostmentis aso related to expectations and the love of national income. [1] _ Alte statements are correct [2] Oniya.and are comec. [3] Only sand are corect. [a] Only band are corect [5] _ None ofthe statoments is crack ‘Question 3.6 is based onthe siagram below ” Ageeorig > 3.6. Whichof the following tatemens isare comect? (@) A> Y shows excess demand, (b) A> ¥ shows excess suppy (0) Y>Ashows excess demand. (d) >A shows excoss supply {9} Onya.andb are conc [2] Only and care corec. [8] Only and dare comect [4] Oniyb and dar corect. 3 {Questions 37 and 3.8 ae based onthe following information “The saving Ninoton iS = -1000 + 0.25Y and autonomous invostment spending = 100 ar ae as whats the agaregate spending equation? (1) A=1000+028¥ 2] A= 1000+0,78 ia] A=1 100+ 025y HW] A=1 100+ 0,76 What isthe equlbum lve of income? I) Y= 1 000025 B) Y= 1000075 [3] ¥=1 100025 I) Y= toae7s Which ofthe folowing statements) sare true? (@) The mati the rato between a change Income and a change In autonomous spending (b) The maltipir isthe rato between a change in income and a change in induced spending AY A (@) Mathematical tbe matiporis expressod as ‘/[1-< = 11) Only a.andb are comec. {2} Only a.nd c ae corect. [3] Only band c are conect. (4) _ None ofthe statomonts is cored Question 3.1018 based onthe alagram below ” Ecste01/101 ‘310 Which ofthe folowing factors wil be tlustated by the upward si ofthe aggregate spending curve? [1] Halt households increase their marginal propensiy to corsume and this the paradox ofthe [2] Mall housebolds reduce their saving at every income lvel and this isthe paradox of tt [3] fan individual household reduces is saving rate and thisis regarded as the paradox oft, [Hall households incase ter marginal propensty to save and this the paradox of ht. (Questions 2.11 to 3.15 are based onthe diagram below: 7 . | 11. What function may be iustrated by A? [1] the consumption function [2] the saving function [3] aggregate expenditure [a] the investment function 3.42 What function may be ilstratod by 87 1) the consumption unetion [2] the ving functon [3] eqgrepate expendiue [a] the invoetment function 3.43. Suppose in the aforomantionad diagram, C= 1500 + 0,8. “Themarginal propensity to save willbe, and muliplior wil be 1) 09; 10 Bonita B) 04; 10, 0:11 $4.14 Given the above, what the saving function? iy ss 2] 500+0,t¥ [3] $=1500+ 097 4) $=150040,1¥ Is] S=-1500+09¥ v 15 316. Suppose autonomous invertment increases from 100 to 200/n the diagram, what wil he change in atonal income 967 i) 220 21 1000 (3) 1500 (3) 2220 3.16 Suppose government spencing (wih no taxes) is introduced tothe simple Keynosien model, what would happen to tre multplir erect? [1] The muti effect wll tay th same, [2] The multipier etect wildecrease. [3] The multipior elect wilincrease. {4} The change in the muti wil be ambiguous 3.17 Suppose taxes are introduced as an endogenous variable in our model, what wihappon tothe sk-pe ‘ofthe consumption function? {1} Mtl become tattr. [2] twibecome steeper [3] ttwistay the same. [4] Consumption and taxes ae not related, 2.18 Again sxppose an endogenous tax variable in ow model, what wal happen to to cize of the ‘mutioer? [1] Itwlromain the same, 2] Mvilinctease [3] twat decrease. [8] The'sze of ro mutiper and the tax rate are not related 119. Given a consumption function C = 1 000 + ,4Y with a propertonal Income tax rate of 40%, what Is ‘the mulicier? Round off your arswor to two digit after the decimal ty 132 e170 3) 250 ) 278 3.20 Given the folowing functions: © = 1 000 + 0.4, = 400 and I= 100, suppose ther isa change in ‘Government expenditure ram R400 to RSOO bu the proportona income tx rate romans 40%. What ‘nil the equlibrum level of Income Y be? (Hint Round of the answer in quoston 19 totwo digits ater the decimal to abla the anower for question 3.20), iy 202 [a] 2000 (1848 wy) 1482 % Ecsteo%rie1 3.21 Suppose the government implomonts an expansionary fiscal poley to finance e-toll ganties. Reguied aY = Ri 000, the maranal propensity ta consume is 50% and the proportional ax rate 220% Whats the sizeof the mulher? Round of you answer to fwo Ogi ser the daca! (1°00 By t32 By) tas (a) 250 3.22 How much wal goverment expendture have to change fo reach the required change in euibrum Income given the nfrmation in question 3.247 1) R898 2) R800 [Rt 000 fa) R120 3.28 Suppote sanctons ae Imposed on a small open economy which leads oa decrease in autonomous imports, What wll happen to the aggregate expondtue cura exports remain unchanged? [11 hwil stay ne same, [2 iwi shit vows, [a] wi shi Sowrmards. [4] The slope becomes ater. ‘3.24 Suppose the sanctions mentioned in question 3.23 also decreased the marginal propensity to import, how wl tho sizoof tho muti be affected? (1) Mtay (2) vtinerease 13) wildecrease, ‘3.25. Given he fotownglxormation for a smal open economy: C=R1000+ 02%. ‘Tho governmentsponding is R300 “Tho proportional tax ats 28% Exports are R10) Z=R2+01Y Tnvestment is R200 Calculate the mutipfer and equbrium level of income (Note: Round the mutipor of to two dls after the decimal before calcusting the equllrium income level and round fe equitxum income lave ff tote closest ul rand) [1] 108and Ft 659 respectively [2] 132 and 2 086 respectively [3] 188 and R2 923 respectively [4] 180and R2 $28 respectively 7 ‘3.25 Wnicr one ofthe flowing Is net tre wth regard to an incase in proportional tax inthe Keynesian model? [1] threduces the mute. [2] _Itreduces the egulirium income level, ceteris parbus. [3] _Iteaves autonomous spending unchanged. [4] _Ithas the same effect asa decrease in goverment spending 5327 Which one of the folowing is true with regard to an increase in government expznture in the Keynesian model? [1] 1 dscreases the aggregate sponding [2] iverases the mutter. [3] raises the equlrium lvel of income {¢] _ttdseeases the mune. ‘Questions 3.2810 3.30 are based onthe flowing diagram and te information provided below: “arene cee Goverment spending = R500 Exports = R300 ‘Aulonoreus consumption = R200 ‘Aulonorious imports Investment expenditure = R100 Margin propensity to consume Margin propensity to impor = 0.1 Proportional ax rate = 0.25, 3.28 Autonomous expenditure (A) is equal to (1) R00 2] Ro00 [3] R00 i Reco ig} Ri 100, 7 ‘3.29 Whats the equltvium level of income Yin tho given model? 330 Ecsto011101 (tint f you use tha mutipier to calculate the equllrium income level, round of to three igs ator {he decimal. Round the fal ancwar of fo the closest ful rand) Is the government running # budget deft or surplus and by how much (ound it off tothe closest fl ‘aeict of R77 aeupus of R77 a dafict of R128 a surplus of R128 i] R106 fa) Rt692 [9] Rt7e7 la) Rt 800 [5] 2000 randy? m @ 3) is] oy 10 £4 Assignment 04 Unique number: 584187 Closing date 26 September 2016 Content: ‘Learning units 8 to 11 of the study guide and the relevant chapters ofthe ‘prescribed book Questions: 45 questions 30% of the semester mark ‘Through myUnisa or on a markreading shoot Weight: To submit: Please answer tis assignment on the prescribed answer shee or by sbmiting ton my/Unis. 4.1. Which ofthe folowing statements isfare correct? (a) Prices are variable in the AD-AS model (b) An upward shit of the AS curve and a rightward shit othe AD curve wil efnitely increase production and income. (6) Staton refers to @ stuation of high unemployment conbined with a ow infition rte. (3) When the AS curve is vary steep, 2 rightward shit ofthe AD curve wil lead to an increase in produeton and income wt ite ono inereasein te prin level I] abcanad 2] onlyaanda 5] onlybande (4) only anga (©) onya 4.2. Acontractionary Fecal pocy combined with an inexease Inthe ol pice wil cause [1] downward sit ofthe AS curve and a lafvard shit ofthe AD curve. [2 an upward sift ofthe AS cure and a rightward shit ofthe AD curve [S) downward aft ofthe AS cure and a rightward shi of he AD cure [6] anupward shit of the AS curve and leftward shit of the AD curve 4.3. tf income ls below the fulhemployment level, what would be the resuit cf contractionary monotary poly? [3] aninerease in total production and an increase inthe pris level [2] _ a docroase in total production and an increase inthe pice level [3] a decrease in otal production and a decease in tho pricelevel [4] _ an inerase in ttal postion and a decrease inthe pie level 4.4 HF income is below the ful-employment love, what would be tho resul of an expansionary fiscal paloy? [1] an inerease in total production and decrease inthe price level [2] adecraase in total production and an ineroase inte pice level [3] _adecrease in total production and a decrease in the pricelevel [6] _anincrease in ttal production and an incoase inthe pie level a 45 47 48 ecsten1i101 ‘Which one of the fotowing statements i cores? [1] The Keynesian model can bo used to study the impact of changes in monetary pole. [2] The AD-AS model can bo used to study the impact of changes in the gonerallovel of wages on prodton, income, employment and ition, {21 Interest ate are gven nthe AD.AS model, [s! The interaction of agoregate supply and aggregate demand determines tre level of sconomig ‘activity in the Keyposian model \wnich ofthe flowing statements isle corect? Aleftard shift ofthe AD curve could be caused by (2) an increase in government spending anda decreas (b)anincrease in net expors. ()_a deterioration in weather condltons. (d)_ ar inerwase inthe interest ate It) abande 2 oayaandd [3] oayaande [4] onlybande 5} enya hich ofthe folowing statements isle corer? An upwardefward shit of he AS curve could be caused by (@) 2 decrease in wages. (0) _anirerease ia investment spending (©) a deteoraton of weather conditions. (@)_aninerease inthe price of lt br] abeandd 2 onlya and [3] onlyb anda 4) onlycanda [5] one Wich one ofthe flowing statements is incorrect? [1] Acontractionary monetary policy wil ead to an increase investment spending, [2] Theres aninvorse (nogatve) relationship between the interest rate and ivestment spending. [5] Monetary policy in South Aca i conducted by the SAR. [4] _Anincrease in investment spending wil increase aggregate demand, at 49 410 4a ra Which of the following chain of evens correctly represents the monatay transmission mechanism, assuming xed pres? [aad Aauy spo Bl tapos I) ist tAsly Which othe following statements isfare corect? (0) When tis assumed that prices and wages are not xt, the mulipor Increases in size. {b) Investment spending can change cue to @changesn ie nterest rat, Dut cer factors may iso ‘cause a shit ofthe investment curv, resulting in @ changein investment without a prior change inthe interest rate ove. (©) A-decreaes in the interest rate wil lead Io en increase in production and income as well as & decroase in prices inthe AD-AS mos it) abande (2) onlyaandb [2] only and a oniya [1 ony Witch one ofthe flowing statements coerect? [1] Monetary and fiscal ples are collectvely known as supply management pocies, [2] The lags associated wih monetary and lca polcy make these policies more effective [8] _ The implementation agi shorter for monetary policy than for iscal plc. [4]. practice, facal and monetary polices ae conducted independent of one anather. With one ef the following statements i incorrect? [11 A stuaton in whieh growth is constrained by a deft on the curtent account is refered to as 8 botonce of payments constraint [2]. South Afca follows a poly of autarky, meaning itis cosod to itornational trade. [3] Exports are exogenous whilst mpots are endogenous. [4] Acurrent account surplus implies that exports are lager than import. ecer601/101 Question 4.13 refers to figure 19-9 (a) and figure 19-10 on page 375 of Mohr, P and associates. 201 Economies for South Atncan studerts. Sh exon. Pretoria: Van Schak, § Gon be s aan ° 7 , Figure 19-9) Figure 19-10 4.13 Which ofthe folowing stataments islare orect? (@) Atpoint Ye there is defi onthe current account and the lve of production and income is at the ful employment eve (0) An increase in exports would shit te exports curve upwards In figure 19-9 (a) and ave point Ye closer o point Yin gure 1940. {e) there isan inflow of foreign capital, South Africa can afford to move oa pont othe righ of Ye in figure 19-10. (4) Atpoint Yoin gue 19-10 thes a curert account deft but no unemployment 1) abcansa (2) onlya and [3] onty bande [a] onlyeanda 4.4 Which one ofthe folowing statements is corect? [1] The defnton oFinfition doesnot atom to Wentty its causes [2]__bfiation i continuous and considerable rise in prices. [9] A once-ff increase nthe price of os called ination. {495 Wich one ofthe following etatoments Is corect? [1] Capital and intermestte goods are excluded from the CPI but included in the PP. [2] PPI ceates tothe cost of ving [3] _Aninfation rate of 3% implies that the cost of goods and services increases by 3% monthly, [4] To calculate the implct GOP delta, divide the real GDP by the nominal GOP and multiply by 100 to gota percentage, 30 416 a7 418 419 Which of he folowing statements islare corect? (2) _Ifation benefits landers atthe expense of berowers, which means tht the young benef a the expense of the oldery and government benefits at tho expense ofthe private sector, (©) Leni sai tha nfatin isthe best way to destoy capitalism because It causes icon in society ‘and encourages speculalve activity at the expense of productive activ (©) Expectations about ilaton can be inlatonary (@) How the inflaton rate ofthe domestic economy compares wih that of is trading partners does rot affect trace. [1 9,b,eenda [2] entye andb [3] eniyb and {4 oniye (51 oniybenda Which one ofthe folowing statements is correct? [1] Deman:pulnfiaon creates astuton known as stagflation. [2] Cost pushifation ie described as ‘1oo much monay chasing too few goods. [B] Cost push inflation is tigger by an increase in corsumotion spending [6] _ An earthquake can tigger cast-push iefaton. [Which ofthe folowing statements isfae coroct? (a) The AS cures vaca tthe lvelof ull employment because the total evalable werkore Is employed, (b) Both cost push and demand pul ination resullin lower level of ttl production and income. (6) A the full employment level of total production and income, a contactonary fiscal poly will Shite AD euve tothe ight and cause inflate, (@) tthe proft margin is flexible, higher wage demands can heinflaionary, 1] abeanda 2] enlyaand [3] enlyaanda (4) ona (9) onlybandd Which one of the following statements is coeract? [1] The unemployment rate Is messured by dicing the aumber of unemployed persons by tho umber of people waking, 12] According to the sit definition of unemployrent, person who dé not actively sas workin the four weeks preceding the interview, I not unemployed. [8] The expanded defniion i the offal measurement of unemployment used by Statistics SA, [4] The informal sectors measured nthe expanded detnton of unemployment ce1601/101 4.20 Wich of te foloing statements isfare correct? (@) Higher unemployment has social cost, fr example it could lead te nereased criminal actly (©) A porson who has been unemployed for too long might lose their ekils and become unemployed (6) Social welfare programmes place nancial burden on soctey (1) abonde (2) onlye and B] onlysande I] cay 4.21 Frank was lid of from his job becauso ofa recession. Ho i .. unemployed. Susan works ata surt shop in Durban, but only forthe months a year, forthe rest ofthe year sho. unemployed [1] structurally: seasonally 2] oyclcaly fiona (3) structurally ctonaly [4] cycle, seasonally (5) yell, structurally 4.22 Which one of he following statements is corect? [1] South Aica’s unemployment problem stoms frm tha demand side only. [2] In general, labour lagiation in South Aiea protects the employer at the expense of the employee. [5] The informal sector comprises of only ilogal bobaviour [4] Domand-

    Anda mungkin juga menyukai