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ECS1601 ASSIGNMENT 6 semester 2 2023 EXPECTED QUESTIONS AND SOLUTIONS
ECS1601 ASSIGNMENT 6 semester 2 2023 EXPECTED QUESTIONS AND SOLUTIONS
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Which of the following are three major flows in the economy as a whole?
a. Spending, total income, and production.
b. Total spending, total income, and total production.
c. Saving, total investment, and spending.
d. Total income, spending, and saving.
Suppose a state-owned enterprise issues a bond to raise capital to fund its business
expansion. In this case, the state-owned enterprise is a (i)__________ , and the individuals
who purchase the bonds are (ii)__________.
a. (i) borrower; (ii) deficit units.
b. (i) deficit unit; (ii) surplus units.
c. (i) surplus unit; (ii) savers.
d. (i) savers; (ii) deficit units.
If GDP is greater than GDE,
a. the country has a deficit in the current account.
b. exports are greater than imports.
c. taxes are more than government expenditure.
d. the country is consuming more than
Nationalisation refers to …
a. the acquisition of commercial companies by the public sector.
b. the acquisition of private companies by the public sector.
c. the acquisition of public companies by the private sector.
d. the acquisition of mining companies by the private sector.
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Which one of the following statements is not the macroeconomic objective used for
measuring the performance of the South African economy and that of other countries?
a. The South African economy has experienced sluggish economic growth over the past
five years.
b. The South African economy records the lowest rate of employment.
c. South Africa records the highest increase in the immortality rate since the Covid-19
pandemic and the July unrest.
d. South Africa’s balance of payments has been stable over the past years.
The quantity of money in an economy is …
a. determined by the interaction between the cost of credit and the demand for
money.
b. fixed by the South African Reserve Bank.
c. dependent on the money supplied.
d. determined by the Minister of Finance.
e. decided jointly by the Reserve Bank and the government, as it has important
implications for inflation targeting.
Neutrality of taxes means that
a.
taxes have the minimum possible effect on relative prices.
b.
the recipients generated by a particular government expenditure should pay for the goods
and services concerned.
c.
the tax burden is spread equally amongst taxpayers.
d.
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