Exam (elaborations)
Ecs1500 Assignment 5 Semester 2 2023
- Institution
- University Of South Africa (Unisa)
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9/25/23, 4:01 PM Assessment 5: Attempt reviewUNISA 2023 ECS1500-23-S2 Welcome Message Assessment 5
QUIZ
Started on Monday, 25 September 2023, 3:23 PM
State Finished
Completed on Monday, 25 September 2023, 4:00 PM
Time taken 37 mins 9 secs
Marks 38.00/40.00
Grade 95.00 out of 100.00
Feedback Excellent performance! You seem to understand Learning Units 6
and 7 that this learning unit is based on.
Question 1
Correct
Mark 2.00 out of 2.00
Which of the following statements on the production price index is correct?
Select one:
a. The PPI includes services.
b. The PPI shows how the average price level of goods and services bought by
a typical consumer or household changes over time
c. The PPI excludes the prices of imported goods measured when these
goods rst enter the country.
d. The same basket of goods are used to measure the CPI and the PPI.
e. The PPI includes capital and intermediate goods.
Your answer is correct. Well done!
The PPI does not include services. That is an important difference between the CPI
(which included services) and the PPI (which excludes services).
The CPI shows how the average price level of goods and services bought by a typical
consumer or household changes over time. The PPI provides an indication of
changes in production costs over time.
The PPI includes the prices of imported goods measured when these goods rst
enter the country.
The PPI does include capital and intermediate goods. This is therefore the correct
option to choose. This is another important difference from te CPI, which does not
include capital and intermediate goods.
The correct answer is: The PPI includes capital and intermediate goods.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13681105&cmid=622794 1/20
,9/25/23, 4:01 PM Assessment 5: Attempt review
Question 2
Correct
Mark 2.00 out of 2.00
Which one of the following statements is correct?
Select one:
a. The PPI includes capital and intermediate goods but excludes services.
b. The basket of goods used to calculate CPI is adjusted from month to month
as consumers' expenditure patterns change.
c. A larger increase in the CPI for a particular type of good, e.g. clothing and
footwear, indicates that that particular type of good became more important
in the CPI during that period.
d. The basket of goods used to calculate the PPI is the same basket of goods
used to calculate the CPI.
Your answer is correct.
The basket of goods used to calculate CPI is a xed-weight index and is only
adjusted every ve years to allow for changes in consumers' expenditure patterns.
A larger increase in the CPI for a particular type of good, e.g. clothing and footwear,
indicates that the prices of that particular type of good increased by more than
previously. The weight of each group stays the same for a 5-year-period.
A different basket of goods is used to calculate the PPI than the basket used to
calculate the CPI. The PPI includes capital and intermediate goods but excludes
services.
The correct answer is: The PPI includes capital and intermediate goods but excludes
services.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13681105&cmid=622794 2/20
,9/25/23, 4:01 PM Assessment 5: Attempt review
Question 3
Correct
Mark 2.00 out of 2.00
Use the following information on the production chain for milk, based on the
production of 900 bottles of milk, to answer the question.
Using the production method, what is the nal value of sales of milk?
Select one:
a. R20 000,00
b. R51 000,00
c. R13 500,00
d. R45 000,00
Your answer is correct. Well done!
The nal value of the sales of milk is the total value of milk sold to consumers, i.e.
the amount for which the milk was sold by the supermarket. The value is therefore
R20 000.
The correct answer is: R20 000,00
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13681105&cmid=622794 3/20
, 9/25/23, 4:01 PM Assessment 5: Attempt review
Question 4
Correct
Mark 2.00 out of 2.00
When a worker is retrenched due to a new technology that has taken over his/her job,
it is an example of cyclical unemployment.
Select one:
True
False
When a worker is retrenched due to a new technology taking over his/her job, it is an
example of structural unemployment. This type of unemployment occurs when the
skills that people have do not match the job requirements. When advanced
technology makes manual jobs obsolete, it means that a higher level of skills,
education and technical competency is required of potential workers.
Cyclical unemployment occurs when there is a change in the demand for certain
goods and services in the economy. This will result in a recession because if there is
a lower demand for certain goods and services, rms in the industries concerned will
generate less revenue, pro ts and returns on investments. Once this happens, the
rms will no longer have enough money to pay staff and suppliers. People will lose
their jobs as a result of these events.
The correct answer is 'False'.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13681105&cmid=622794 4/20
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