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ECS1601 ASSIGNMENT 1 SEMESTER 2 - 2022 SEARCHABLE
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ECS1501 Assignment 04 semester 01 2023 Exam (elaborations) ECS1501 - Economics IA Economics for South African Students, ISBN: 9780627033421
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BOOKTOK ACADEMY2022 / Semester2 / ECS1601-22-S2 / Online assessmgpie
Assessment 1
194389
Attempts allowed: 2
This quiz opened at Monday, 15 August 2022, 8:00 AM
This quiz will close on Friday, 26 August 2022, 11:00 PM.
Grading method: Average grade
Summary of your previous attempts
Attempt State Marks / 21.00 Grade / 100.00 Review
1 Finished 21.00 100.00
Submitted Tuesday, 23 August 2022, 7:08 PM
Which of the following statements are correct?
a. The difference between government spending and borrowing is called the budget deficit.
b. If government finances part of its spending from borrowing from the central bank, this is called
inflationary financing.
c. Expansionary fiscal policy implies that taxes must increase, and government spending must be
limited.
a. All statements are correct.
b. a and b
c.b and c
d.
@®eb
, BOOKTOK ACADEMY
In his 2016 budget speech, the Minister of Finance announced plans to introduce a tax on sugar-
sweetened beverages from April 2017. The tax rate is expected to be about 20%. This is an example of
a...
a. general tax.
b. direct tax.
® c. selective tax.
d. progressive tax.
Value-Added Tax (VAT) is an example of a/an ... tax
® a. ad valorem
b. direct
c. excise duty
d. specific
Clear my choice
Which one of the following statements on the factors of production is true?
a. Money is the most important factor of production, as one cannot afford any of the other factors
of production without it.
b. All natural resources are renewable and can thus be re-used at different stages of the
production process
® c. Labour includes gold miners, civil servants, bank tellers and fleet managers.
d. Entrepreneurship is classified under labour as a factor of production, as entrepreneurs are
usually referred to as “managers” and are part of the organisation's labour force.
e. Capital refers to the available financial resources that a business has for investment purposes.
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