100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
University of Cape Town School of Economics Macroeconomics ECO1011S QUESTIONS ONLY November Exam 2022/2023 $3.00   Add to cart

Exam (elaborations)

University of Cape Town School of Economics Macroeconomics ECO1011S QUESTIONS ONLY November Exam 2022/2023

 63 views  3 purchases
  • Course
  • Institution

University of Cape Town School of Economics Macroeconomics ECO1011S November Exam 2022/2023 1 University of Cape Town School of Economics Macroeconomics ECO1011S November Exam INSTRUCTIONS  Only use PENCIL when filling in the MCQ answer sheet  Use the MCQ answer sheet provi...

[Show more]

Preview 3 out of 22  pages

  • October 25, 2022
  • 22
  • 2022/2023
  • Exam (elaborations)
  • Answers
avatar-seller
University of Cape Town
School of Economics
Macroeconomics
ECO1011S

November Exam 2022/2023

, University of Cape Town
School of Economics
Macroeconomics

ECO1011S



November Exam


INSTRUCTIONS
 Only use PENCIL when filling in the MCQ answer sheet
 Use the MCQ answer sheet provided
 Complete the bubbles for your student number before you begin!
 Write in your first name, surname and student number
 If you change your mind about an answer don’t cross it out, use a soft plastic eraser.
 Do not turn the front page of the question paper until you are instructed to do so
 Check that it’s all there: there are 70 MCQs in this exam and 21 pages
 Each question has five options A-E, choose the one you think is most correct
 You may not leave in the first half hour or the last 15 minutes of this exam


Time: 2 hour 30 minutes
Questions: 70


Marks: Correct answer 4
Incorrect answer -0.5
Blank 0

N.B. this is a lower negative mark than usual: statistically it means that you should
be willing to take a chance even if you are unsure of the answer.




1

, 1. A country’s circular flow of income is in equilibrium. If there is an unexpected R1 000 increase in
savings followed by a R800 decrease in taxes, which of the following statements best describes
what will happen?

A. Injections are greater than withdrawals, therefore expenditure rises, firms produce more
and gross domestic product (GDP) increases.
B. Injections are greater than withdrawals, therefore expenditure falls, firms produce less, and
gross domestic product (GDP) decreases.
C. Withdrawals are greater than injections, therefore expenditure falls, firms produce less, and
gross domestic product (GDP) decreases.
D. Withdrawals are greater than injections, therefore expenditure rises, firms produce more
and gross domestic product (GDP) increases.
E. Withdrawals are greater than injections, therefore expenditure rises, firms produce less and
gross domestic product (GDP) decreases.



2. If Nissan South Africa sells 200 Navaras for a total of €500 000 to Germany, while South Africa
imports 100 BMWs for a total of €600 000 from Germany, then,

A. South African gross domestic product (GDP) increases because it sells more Navaras.
B. South African gross domestic product (GDP) decreases because net exports fall.
C. Germany’s gross domestic product (GDP) decreases.
D. South African gross domestic product (GDP) is unaffected because local sales of local cars
are unchanged.
E. None of the above.



3. A lawyer does work for the poor pro bono, i.e. without charging a fee. These services are NOT
included in gross domestic product (GDP) because,

A. they are not final goods or services.
B. she only does this out of normal working hours.
C. that would involve double counting.
D. their value is actually charged as a tax deduction by the lawyer’s firm.
E. there is no market transaction involved.




2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Tutor23. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

82871 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.00  3x  sold
  • (0)
  Add to cart