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ECS1601 ASSIGNEMENT 3 EXPECTED QUESTIONS AND ANSWERS 2023
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ECS1601 ASSIGNEMENT 3 EXPECTED QUESTIONS AND ANSWERS 2023
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ECS1601 Assignment 7 (COMPLETE ANSWERS) 2024 - DUE 29 October 2024
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CONTACT BMZ Academy @061 262 1185/068 053 8213/0717 513 144, BMZ Academy
This question is based on the information below:
Based on the information above, what is the change in government spending
required for the economy to reach full employment? (at each step of your
calculation, round off to 2 decimal places)
a. R2 771 million
b. R1 311 million
c. R3 689 million
d. R2 229 million
************************************************************************************************
With the given information, answer the question.
Autonomous consumption 50 billion
Autonomous government expenditure 20 billion
Autonomous investment 25 billion
Autonomous exports 40 billion
Autonomous imports 25 billion
Marginal propensity to consume 0.8
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ Academy
What is the equilibrium level of income?
550000000000
Answer:
Which of the following statements is/are correct about the fiscal policy measure to increase
employment?
a) Autonomous spending will increase, and because of the increase in demand in the
economy firms will incur an unexpected decline in inventories, thus forcing them to
increase production.
b) The increase in government spending does not have to match the required increase in
income to decrease unemployment.
c) The multiplier effect will bring about the required increase in income level to increase
employment.
d) Production will be encouraged and the level of income will increase as well as
employment.
a, b and c
all the statements are correct
b, c and d
a and b
***********************************************************************************************
With the given information, answer the question.
Autonomous consumption R 250 billion
Autonomous government expenditure R 100 billion
Autonomous investment R 250 billion
Autonomous exports R 350 billion
Autonomous imports R 250 billion
Marginal propensity to consume 0.8
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ Academy
What is autonomous aggregate spending?
700000000000
Answer:
*********************************************************************************************
With the given information, answer the question.
Autonomous consumption R 500 billion
Autonomous government expenditure R 200 billion
Autonomous investment R 250 billion
Autonomous exports R 400 billion
Autonomous imports R 250 billion
Marginal propensity to consume 0,8
What is the size of the multiplier?
5
Answer:
*****************************************************************************
Suppose that the economy is open and has a public sector. In the Keynesian
model, we can say that …
a. a fall in the marginal propensity of imports will raise the multiplier and aggregate
expenditure will rise
b. a fall in autonomous imports will raise the multiplier and aggregate expenditure
will rise.
c. an increase in the tax rate will increase the multiplier and raise aggregate
expenditure
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
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