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ECS1601 ASSIGNMENT 4 SEMESTER 2 - 2022 R50,00
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  5. ECS1601 - Economics IB (ECS1601)

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ECS1601 ASSIGNMENT 4 SEMESTER 2 - 2022

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  • September 21, 2022
  • September 27, 2022
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  • 2022/2023
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/ Online assessments / Assessment4


Tuesday, 20 September 2022, 9:00 PM
Finished
Semester2 / ECS1601-22-S2 / Onl Tuesday, 20 Septe 2022, 11:25 PM
2 hours 25 mins
Startedon Tuesday, 20S 16.00/16.00
State Finished 100.00 out of 10
Completed on Tuesday, 20 Semester 2 ECS1601-22-S2 / Online assessments / Assessment 4


Marks 16,00/16.00
Startedon Wednesday, 21 September 2022, 12:48 AM
Grade 100.00 out o


Wednesday, 21 Sept? ker 2022, 1-32 AM
44 mins 26 secs
16.00/16.00
100.00 out of 100,90




ECS1601
ASSIGNMENT 4
SEMESTER 2
2022

,2 / Semester2 / ECS1601-22-S2 / Online assessments / Assessment4
SS
Question 1

Correct
In Transvania, which uses the roumel as currency, the following data is available:
Mark 1.00 out of
1.00
Autonomous consumption 20 million roumel
¥ Flag question
Capital goods bought 30 million roumel
Household spend 60 out of every 100 centivos (100 centivos in a roumel)

Government spends 20 million roumel per year

No taxes are collected



Equilibrium income is...




a. 110 million roumel.

b. 80 million roumel.
c. 175 million roumel. v
d. 20 million roumel.

,Semester2 / ECS1601-22-S2 / Online assessments / Assessment4


Question 2
Correct
Suppose sanctions are imposed on a small open economy which leads to a decrease
Mark 1.00 out of
in autonomous imports. What will happen to the aggregate expenditure curve if
1.00
exports remain unchanged?
¥ Flag question



a. It will stay the same.
© b. It will shift upwards. v
c. It will shift downwards.

d. The slope becomes flatter



If imposed sanctions would imply that there will be less autonomous imports (Z) into
the country, this will increase net exports (X-Z) at every income level, and therefore
aggregate spending will increase at every income level. This will be illustrated by a
parallel upward shift of the aggregate expenditure curve. If imposed sanctions would
imply that there will be less autonomous imports (Z) into the country, this will
increase net exports (X-Z) at every income level, and therefore aggregate spending
will increase at every income level. This will be illustrated by a parallel upward shift of
the aggregate expenditure curve.

, Question 3
Correct
Use the data below to answer the question
Mark 1.00 out of
Autonomous consumption = 10 1.00

Autonomous investment = 5 Flag question

Autonomous government spending = 20
Marginal propensity to consume = 0.8
Tax rate = 20%



Equilibrium income is...



a. 97 ¥v
b.35
c. 28

d.70



YO=1/1—e(1-t) (C414 GY

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