Summary
Summary Ecs1500 Assignment 5 Semester 1 2023
- Course
- Institution
Ecs1500 Assignment 5 Semester 1 2023 100% guarantee pass rate , all solutions with clear workings . ECS1500 ASSIGNMENT 1 SEMESTER 1 YEAR 2023
[Show more]
Seller
Follow
spfirai41
Content preview
Ecs1500 Assignment 5Semester 1
2023
Written by
Seko Tutorials
Started on Sunday, 7 May 2023, 11:28 AM
State Finished
Completed on Sunday, 7 May 2023, 11:58 AM
Time taken 29 mins 48 secs
Marks 40.00/40.00
Grade 100.00 out of 100.00
Feedback Excellent performance! You seem to understand Learning Units 6 and 7 that thi
is based on.
According to the expenditure method, GDP is estimated by adding up the income
earned by the various factors of production.
Select one:
True
False
Feedback
According to the expenditure method GDP is calculated by adding the value of all
final goods and services that are sold in the economy. When the income earned by
the various production factors are added together to calculate GDP, we use the
income method.
The correct answer is 'False'.
Question 2
Correct
,Mark 2.00 out of 2.00
Flag question
Question text
The introduction of online media news resulted in Thandi losing her job as a photo
editor at TJ Newspaper. Based on this information, Thandi is _________unemployed.
a.
frictionally
b.
voluntarily
c.
structurally
d.
seasonally
Feedback
Your answer is correct.
Cyclical unemployment emanates from the fluctuations in demand for goods and
services. For instance, when businesses are booming, more people are employed
but when they are in depression, more people are laid off.
The improved technology is the cause of Thandi’s’ unemployment, this is a
mismatch between her skills and the job requirement by the labour market.
Therefore, Thandi is structurally unemployed.
Voluntary unemployment transpires when people decide not to work due to lower
wages. This does not apply to Thandi.
, The time it takes to find a new job or to move from one job to another is referred
to as frictional unemployment and it is not regarded as serious. Thandi is not
frictionally unemployed.
The correct answer is:
structurally
The country of Oilpac produces oil only. It has published the following figures that
indicate the quantities that were produced in gallons while prices are provided in
dollars ($) per gallon.
From 2015 to 2016, nominal GDP grew by_____ while real GDP at constant 2015
prices grew by ________
Select one:
a.
80%; 20%.
b.
1 000%; 1%.
c.
1%; 1 000%.
d.
20%; 50%.
e.
44%;16,67%.
Feedback
Your answer is correct. Well done!
Nominal GDP is calculated by multiplying the quantity by the price for that year.
Real GDP is calculated by multiplying the quantity by a constant price, in this case
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller spfirai41. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.87. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now