this document contains ECS2603 ASSESSMENT 7 SEM 2 OF 2024 expected questions and answers as well as the relevant economic tables at the end. correct use will help you score above 75%
The question is based on the following information:
Item R million
Total government revenue 510
Current government revenue 490
Current government expenditure 520
Non-interest expenditure 526
Cyclically adjusted revenue 480
Cyclically adjusted expenditure 500
The primary budget balance is R____million.
If the balance is negative indicate it using the minus sign in your answer for instance -32
Answer: -36
,Question 30
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The following questions are about the possible impact of Covid-19 on South Africa’s economic performance for 2020 in comparison to
that of 2019.
The data sources are:
South African Reserve Bank, Quarterly Bulletin March 2023 pages S-115, S-117 and S-119.
Covid-19 can be regarded as a cyclical variation.
True
False
Investment is a flow variable.
True
False
The economic growth rate for 2020 was
- 5.9 %
In 2020, final consumption expenditure by households in real terms declined by R 175854 million
In 2020, in percentage terms, real gross capital formation declined by 25.37 %
Based on the second quarter of 2020, what was the annualised growth rate based on a quarter to the same quarter of the previous year
method?
- 41.1 %
In 2020, in percentage terms, the primary sector declined by
2.04 %
In 2020, in real terms, the tertiary sector declined by
R 3988 million
The South African economy is currently in a downward phase of the business cycle.
True
False
,Question 25 Time left 1:50:38
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The question is based on the following table:
GDE deflator
Year GDE at current pricesGDE at constant prices (percentage) % change in GDE deflator
2011 29600 30083
2012 30600 30600
2013 32940 31200
What is the GDE deflator for 2011?
Answer: 98.4
Question 26
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The questions are based on the Balance of Payments from the SARB Quarterly Bulletin, March 2023 pages S-84 and Expenditure on gross domestic product S-117.
The balance on the current account for 2022 is -R ____ million.
- 31789
For the period 2015 to 2022 the balance on the current account recorded deficits for every year.
True
False
If a country records a trade surplus, it follows that the export of goods as a percentage of GDP is ______ than the import of goods as a percentage of GDP.
smaller
greater
The trade balance as a percentage (%) of nominal GDP in 2022 was ____ %.
3.3
For how many years in the period 2015 to 2022 were net direct investments positive?
5
In which one one of the following years did South African residents increase their acquisition of foreign portfolio financial assets.
2022
2020
, Question 27
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The questions in this part are based on Exchange Rates in the SARB Quarterly Bulletin, March 2022, S-112.
In 2021 the rand depreciated against the Brazilian Real, Chinese Yuan, EU Euro, UK Pound and US Dollar.
True
False
In October 2021 the rand/Japanese yen was 13.138 (3 decimal places)
In 2020 the Rand/Botswana pula exchange rate was 143.52 (2 decimal places)
In March 2021 the South African rand _____ against the Chinese yuan compared to February 2021.
appreciated
depreciated
Question 28
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If a 12 month bill with a face value of R100 000 is sold for R92 000 the discount is R 8000 and the discount rate is 8 %. The yield or interest earned
by the holder of the bill is 8.7 % (one decimal).
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