Exam (elaborations)
ECS1500
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ECS1500 ASSIGNMENT 6 2023
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GDP at current prices increased by 4,5% from year A to year B. GDP at constant pricesincreased by 2% from year A to year B. Based on this information, which one of the
following statements is correct?
Select one:
a.
The value of production increased by 2,5% from year A to year B.
b.
The physical amount of production increased by 2% from year A to year B.
c.
The economy grew by 2,5% from year A to year B.
d.
The interest rate in year A was 2,5%.
Feedback
The correct answer is: The physical amount of production increased by 2% from year A
to year B.
Question 2
Correct
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Question text
A share is a capital market instrument that represents ownership in the company that
issues the shares to the public.
Select one:
True
False
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The correct answer is 'True'.
Question 3
Incorrect
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Question text
An expansionary phase of the business cycle indicates that production is decreasing in
the economy.
a.
True
b.
False
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The correct answer is: False
Question 4
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When the rand appreciates against the dollar, cars imported from the USA will become
cheaper for South Africans.
a.
True
b.
False
Feedback
The correct answer is: True
Question 5
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,Question text
The Gini coefficient for country X was 0,50 in 2010 but changed to 0,70 in 2016.
Which of the following statement/s is/are correct?
1. The income distribution in country X was more equal in 2010.
2. The Lorenz curve for country X shifted to the left from 2010 to 2016.
3. Inequality was higher in 2016.
4. The Lorenz curve for country X shifted to the right from 2010 to 2016.
a.
Only 2, 3 and 4 are correct.
b.
Only 1, 2 and 3 are correct.
c.
Only 1, 2 and 4 are correct.
d.
Only 1, 3 and 4 are correct.
Feedback
The correct answer is: Only 1, 3 and 4 are correct.
Question 6
Correct
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Question text
The monetary system is the only form of exchange system.
Select one:
a.
False
b.
True
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The correct answer is: False
, Question 7
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The consumer price index (CPI) provides an indication of the change in the …
[1] nominal value of consumer goods and services produced.
[2] real value of consumer goods and services produced.
[3] prices of consumer goods and services.
Select one:
a.
only 1 and 2 are correct
b.
only 1 and 3 are correct
c.
1, 2 and 3 are correct
d.
only 3 is correct
Feedback
The correct answer is: only 3 is correct
Question 8
Correct
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Question text
Water and electricity in urban areas are supplied to households by …
Select one:
a.
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