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ECS1601 Assignment 7 Semester 2 2022-Q &S distinction Guaranteed

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  • Economics Ecs1601 (ECS1601)
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  • University Of South Africa (Unisa)

Ecs1601 Assignment 7-Q & Expected solutions. Correct use of this document will obtain you a distinction. All while Helping You Sum It Up!

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  • November 10, 2022
  • 140
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ecs1601 assignment 7 s2 2022

Written for

  • University of South Africa (Unisa)
  • Economics Ecs1601 (ECS1601)
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Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 7

Started on Thursday, 10 November 2022, 11:23 AM
State Finished
Completed on Thursday, 10 November 2022, 12:16 PM
Time taken 52 mins 20 secs
Marks 26.00/30.00
Grade 86.67 out of 100.00


Question 1
Correct

Mark 1.00 out of 1.00




In the Keynesian model, government expenditure …



Select one:
a. increases with investment because investment increases the size of the tax base.
b. is determined by the level of tax revenue.
c. is undertaken solely to regulate the level of spending.
d. can be ignored because investment is taken to be the key determinant of income.
e. is taken to be autonomous because it is subject to government policy. 



The correct answer is: is taken to be autonomous because it is subject to government policy.

,Question 2
Incorrect

Mark 0.00 out of 1.00


MENU 

The question is based on the figure below:
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 7




The movement from X to X’ can result from …



Select one:
a. an increase in domestic income.

b. a decrease in domestic income.

c. a depreciation of the rand against the dollar.

d. an appreciation of the rand against the dollar. 



The correct answer is: a depreciation of the rand against the dollar.




Question 3

Correct

Mark 1.00 out of 1.00




The question is based on the following information.
Given autonomous consumption of R300, marginal propensity to consume of ¾, and level of income of R1000.



What is the amount of total saving is




Answer:
-50




The correct answer is: -R50

,Question 4
Correct

Mark 1.00 out of 1.00


MENU 

Use a Keynesian model to calculate the answer.
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 7




Full employment output = 80 million

Investment = 20 million

Autonomous consumption = 15 million

The marginal propensity to consume = 0,6



What will the equilibrium level of income be?




Answer:

87 500 000




The correct answer is: 87,5 million




Question 5
Correct

Mark 1.00 out of 1.00




Other things equal, a reduction in personal and business taxes can be expected to ...



Select one:
a. increase aggregate demand and decrease total real production.
b. increase both aggregate demand and total real production. 
c. decrease both aggregate demand and aggregate supply.
d. decrease aggregate demand and increase aggregate supply.



The correct answer is: increase both aggregate demand and total real production.

, Question 6
Correct

Mark 1.00 out of 1.00


MENU 

Given the AD-AS model, if the national incomes of the major trading partners of South Africa (SA) were to rise, SA's ...
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 7

Select one:
a. aggregate supply curve would shift to the right.
b. aggregate demand curve would shift to the right. 
c. aggregate supply curve would shift to the left.
d. aggregate demand curve would shift to the left.



The correct answer is: aggregate demand curve would shift to the right.




Question 7
Correct

Mark 1.00 out of 1.00




The monetary transmission mechanism …



Select one:
a. explains how the central bank transmits messages to the other banks.
b. describes how the Monetary Policy Committee announces its decisions.
c. explains how developments in the economy affect the monetary sector, especially the banks.
d. explains how banks create money.
e. describes the ways in which changes in the monetary sector are transmitted to the rest of the economy. 



The correct answer is: describes the ways in which changes in the monetary sector are transmitted to the rest of the economy.

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