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MANCOSA economics 1B OSA and KCQs prep
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this will help you get ready for your economics 1B OSA and kcq 1 and 2 because its has questions and answers and explanations
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Economics 1B OSA preparationMultiple-choice 20 Questions with Answers
, 1. Pay rises offered despite Bank of England plea for restraint over inflation
Employers are set to increase wages at their fastest pace in almost a decade this year despite a plea for pay
restraint from the governor of the Bank of England.
Source: https://www.thetimes.co.uk/article/pay-rises-offered-despite-bank-of-england-plea-for-restraint-
over-inflation-xhf8dbn5b
Wage increases cause inflation because the cost of producing goods and services goes up as companies pay
their employees more. To make up for the increase in cost, companies must charge more for their goods and
services to maintain the same level of profitability
2 Record unemployment and deepening poverty has fuelled calls for the government to move toward a
basic income grant, which would be the biggest of its kind globally, or to at least extend a temporary
stipend of 350 rand ($23) a month paid to the unemployed during the pandemic permanent at that
level or slightly higher. That measure added 10.3-million people to the welfare net.
Source: https://www.engineeringnews.co.za/article/south-africa-torn-over-multibillion-cost-of-fighting-
inequality-2022-02-09/rep_id:4136 Accessed: 14/02/222
The theoretical argument in support for a Basic Income Grant, is based in which of the following government
objectives?
a) Full employment
b) Balance of payments stability
c) Redistribution of income
d) Economic growth
Wealthier people of a country have to contribute more (mainly through taxes) towards the underprivileged. An
economic growth policy may lead them towards reducing taxes and this could reduce government spending
and its ability to spend on social grants, UIF, income grants, disability grants, etc.
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