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  2.  
  3. University Of The Western Cape (UWC)
  4.  
  5. Macroeconomics 152 (ECO152)

Exam (elaborations)

Final exam preparation questions guide
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It contains questions that are most likely to appear in the exam. Suitable for practicing your knowledge.

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  • May 28, 2023
  • 3
  • 2022/2023
  • Exam (elaborations)
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Week 13 - ECO152: Final Exam Preparation

Work through the answers to these questions on your own before sharing them on the
Ikamva discussion forum.


1. You are given the following information for the economy of Kuvukiland in 2023: Marginal
propensity to consume 0.8 Autonomous consumption expenditure 650 Kuvu Government
expenditure 240 Kuvu Investment 300 Kuvu Solve for equilibrium income if there is no
tax involved. Show all calculations.

2. If C = R100 million, Ī = R500 million, Ḡ = R200 million, c = 0.8, t = 0.2 and Yf R2 400
million, by approximately how much must government spending be raised to achieve full
employment?

3. What is the difference between expansionary monetary policy and expansionary fiscal
policy? Also explain how the AD curve will be affected (movement in the curve) by the
policies.

4. What are the relative lengths for the monetary and fiscal policy of the following lags:
• Decision lag:
• Implementation lag:
• Impact lag:

5. List the 3 key assumptions the monetarists make relating to the quantity theory of money.


6. List two key ideas of each of the following schools of thought: supply-side economics, new
classical economics, new Keynesian economics and monetarists.

7. Define inflation and calculate the inflation rate for 2021 from the table below. What is the
base year and why do you say so?

CPI value (2010 = 100)

Average CPI for 2021 171.6

Average CPI for 2020 164

Average CPI for 2019 158.9

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