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CRW1501 ASSIGNMENT 2 SEMESTER 1&2 FOR 2021 CORRECT ANSWERS[FROM THE STUDY GUIDE AND TEXTBOOK]
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CRW1501 ASSIGNMENT 2 SEMESTER 1&2 FOR 2021 CORRECT ANSWERS[FROM THE STUDY GUIDE AND TEXTBOOK]
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2021Ecs1500 assignment
03 2021:semester 1 &
2
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, For Questions 3.1 to 3.5 you need to indicate whether the statement is true or false. If
the statement is true, choose [1] and if the statement is false, choose [2].
3.1 The role of the public sector is to control the money supply and interest rates to
achieve economic stability.
[1] True
[2] False
Government includes all politicians, civil servants, government agencies and
other bodies belonging to or under the control of government. It therefore
includes the President, cabinet ministers, provincial premiers, mayors, everyone
working for central government, provincial governments and municipalities, and
public corporations such as Eskom, Transnet and the South African Reserve
Bank. Page 48 Philip mohr
3.2 Public enterprises such as Eskom and PRASA are a component of the South
African public sector.
[1] True
[2] False
These are included in institutions covered above.
3.3 The distribution function of government refers to the government promoting
efficiency by implementing legislation to ensure certain minimum standards.
[1] True
[2] False
By definition, a socially undesirable income distribution is one with which society
is unhappy. Government, as the representative of society, must therefore take
steps to achieve a more acceptable (or more equitable) distribution. The
measures that governments usually take in this regard include progressive
income taxation (which means that the greater your income, the greater the
percentage tax you pay), free or subsidised provision of certain goods and
services (eg primary health care and primary education) to those who can least
afford it, cash transfer payments to the needy (eg old-age pensioners and very
poor families that have to raise children) and legislation and other forms of
regulation (eg labour laws)
3.4 Uniformity and durability are functions of money.
[1] True
[2] False
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