Exam (elaborations)
ECS1601 ASSIGNMENT 3 2024
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8/6/24, 9:33 PM Assessment 3: Attempt reviewUNISA 2024 ECS1601-24-Y Online assessments Assessment 3
QUIZ
Started on Tuesday, 6 August 2024, 8:21 PM
State Finished
Completed on Tuesday, 6 August 2024, 9:32 PM
Time taken 1 hour 10 mins
Marks 18.00/18.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
If Country X has a Gini coefficient of 0.7 and Country Y has a Gini coefficient of 0.4, which of the following is correct?
a. Both countries have an equal income distribution.
b. Country X has a higher degree of inequality.
c. Country Y has a higher degree of inequality.
d. None of the above.
Country X has a higher degree of inequality. Country X has an income distribution which is relatively more unequal than that
of Country Y. Since the Gini coefficient of 0.7 for Country X is higher than that of Country Y, which is 0.4, it means that there is
a higher degree of inequality in Country X than in Country Y.
Question 2
Correct
Mark 1.00 out of 1.00
If the newspaper reports that “the construction sector was responsible for 1,2% of the GDP growth”, then this implies that the
GDP has been measured according to the
a. expenditure method.
b. production method.
c. income method.
d. nominal prices method.
The measurement of GDP used in this instance is production method, as it looks at the value added by the sector. The
statement does not discuss the respective expenditures of the sector.
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