Exam (elaborations)
Ecs1601 Assignment 3 semester 1 2023
- Institution
- University Of South Africa (Unisa)
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4/13/23, 3:49 PM Assessment 3: Attempt reviewMENU
Dashboard / Courses / UNISA / 2023 / Semester 1 / ECS1601-23-S1 / Online assessments / Assessment 3
Started on Thursday, 13 April 2023, 3:11 PM
State Finished
Completed on Thursday, 13 April 2023, 3:11 PM
Time taken 27 mins 55 secs
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Suppose government expenditure in South Africa is R10 billion while autonomous consumption and investment spending are R25 billion
and R50 billion respectively. Autonomous exports are R100 billion and autonomous imports are R35 billion. Also, c = 0,85; t = 0,275 and m =
0,125. What is the equilibrium level of income in the economy? (Hint: at each step of your calculations, round off to 2 decimal places)
a. R167.5 billion
b. R295.5 billion
c. R365 billion
d. R150 billion
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=9262593&cmid=622369 1/11
,4/13/23, 3:49 PM Assessment 3: Attempt review
Question 2
Correct
Mark 1.00 out of 1.00
MENU
Use a Keynesian model to calculate the answer.
Dashboard / Courses / UNISA / 2023 / Semester 1 / ECS1601-23-S1 / Online assessments / Assessment 3
Full employment output = R80 million
Investment = R20 million
Autonomous consumption = R15 million
The marginal propensity to consume = 0,6.
The value of aggregate autonomous spending is
Answer:
35 million
Question 3
Correct
Mark 1.00 out of 1.00
Suppose that the economy is open and has a public sector. In the Keynesian model, we can say that …
a. a fall in autonomous consumption will raise the multiplier and decrease aggregate expenditure
b. an increase in the tax rate will increase the multiplier and raise aggregate expenditure
c. a fall in the marginal propensity of imports will raise the multiplier and aggregate expenditure will rise
d. a fall in autonomous imports will raise the multiplier and aggregate expenditure will rise.
The factors that impact the multiplier are discussed in section 7.3. of the prescribed textbook
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=9262593&cmid=622369 2/11
,4/13/23, 3:49 PM Assessment 3: Attempt review
Question 4
Correct
Mark 1.00 out of 1.00
MENU
Suppose that the South African Reserve Bank decides to ______ the interest rate. The impact on the investment function is a/an _________ in
Dashboard spending
investment / Courses
and/ will
UNISA
result/in2023 / Semester
a/an ________ shift 1in /theECS1601-23-S1 / Onlinecurve.
aggregate expenditure assessments / Assessment 3
a. lower; decrease; downward
b. raise; increase; upward
c. lower; increase; downward
d. raise; decrease; downward
See section 8.2. of the prescribed textbook.
Question 5
Correct
Mark 1.00 out of 1.00
Use a Keynesian model to calculate the answer.
Full employment output = R80 million
Investment = R20 million
Autonomous consumption = R15 million
The marginal propensity to consume = 0,6.
The value of the multiplier is
Answer:
2.5
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=9262593&cmid=622369 3/11
, 4/13/23, 3:49 PM Assessment 3: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
MENU
Given the following information:
Dashboard / Courses / UNISA / 2023 / Semester 1 / ECS1601-23-S1 / Online assessments / Assessment 3
Autonomous consumption spending 50 billion
Marginal propensity to save 0.25
Investment spending 20 billion
Government spending 10 billion
What is the equilibrium level of income?
Answer:
320 billion
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=9262593&cmid=622369 4/11
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