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ECS1601 MCQ ANSWER BANK 2023
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THE DOCUMENT CONTAINS ALL ANSWERS FOR MCQ QUESTIONS. IT IS AN ANSWER BANK AS IT CONTAINS A COLLECTION FROM YEAR 2020
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0717513144 ECS1601 ASS 6 muzavazi47@gmailNB: Students must not copy and paste. For clarity, students are free to call on
the provided number and/ email.
,0717513144 ecs1601 ass 6 2023 muzavazi47@gmail.com
On calculations please check if it is the same figures, like the exchange rates, the
currency and denominations, so read careful before you take the answer, all answers
may be there for all the different figures, but if you do not read carefully you will
t6ake the wrong one; hence you need to read careful
,0717513144 ecs1601 ass 6 2023 muzavazi47@gmail.com
Which of the following are three major flows in the economy as a whole?
a.
Spending, total income, and production.
b.
Total spending, total income, and total production.
c.
Saving, total investment, and spending.
d.
Total income, spending, and saving.
Nationalisation refers to …
a.
the acquisition of commercial companies by the public sector.
b.
the acquisition of private companies by the public sector.
c.
the acquisition of public companies by the private sector.
d.
the acquisition of mining companies by the private sector.
Which one of the following statements is not the macroeconomic objective used for
measuring the performance of the South African economy and that of other countries?
a.
The South African economy has experienced sluggish economic growth over the past
five years.
, 0717513144 ecs1601 ass 6 2023 muzavazi47@gmail.com
b.
The South African economy records the lowest rate of employment.
c.
South Africa records the highest increase in the immortality rate since the Covid-19
pandemic and the July unrest.
d.
South Africa’s balance of payments has been stable over the past years.
The quantity of money in an economy is …
a.
determined by the interaction between the cost of credit and the demand for
money.
b.
fixed by the South African Reserve Bank.
c.
dependent on the money supplied.
d.
determined by the Minister of Finance.
e.
decided jointly by the Reserve Bank and the government, as it has important implications
for inflation targeting.
Neutrality of taxes means that
a.
taxes have the minimum possible effect on relative prices.
b.
the recipients generated by a particular government expenditure should pay for the
goods and services concerned.
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