Other
ECS1601 ASSIGNMENT 2 2024
- Course
- Economics IB (ECS1601)
- Institution
- University Of South Africa (Unisa)
ECS1601 ASSIGNMENT 2 2024
[Show more]
Content preview
7/25/24, 8:16 AM Assessment 2 (page 1 of 8)UNISA 2024 ECS1601-24-Y_AS2 Introduction Assessment 2
QUIZ
Question 1
Answer saved
Marked out of 1.00
In South Africa, excise duty is levied on………
a. fuel and a few luxury goods only.
b. alcohol, tobacco, fuel, and a few luxury goods.
c. alcohol and tobacco only.
d. income and wealth.
Clear my choice
Question 2
Answer saved
Marked out of 1.00
Which of the following statements are correct?
a. The difference between government spending and borrowing is called the budget
deficit.
b. If government finances part of its spending from borrowing from the central bank,
this is called inflationary financing.
c. Expansionary fiscal policy implies that taxes must increase, and government
spending must be limited.
a. All statements are correct.
b. a and b
c. b and c
d.
a
e. b
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20324020&cmid=1019616 1/1
,7/25/24, 8:16 AM Assessment 2 (page 2 of 8)
UNISA 2024 ECS1601-24-Y_AS2 Introduction Assessment 2
QUIZ
Question 3
Answer saved
Marked out of 1.00
The role of government is threefold. What are the three broad functions of
government?
a. equitable distribution, dispersal and stabilisation functions
b. allocative, equitable distribution and stabilisation functions
c. allocative, dispersal and stabilisation functions
d. allocative, dispersal and equitable distribution functions
Clear my choice
Question 4
Answer saved
Marked out of 1.00
Ayanda is from Lesotho. She got a job in South Africa in 2020; she earned a salary
of R30 000 a month and paid income tax of R3 300. In 2022, her salary increased to
R35 000 a month and she paid an income tax of R3 600. Income tax paid by Ayanda
is an example of a … tax.
a. progressive
b. regressive
c. proportional
d. general
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20324020&cmid=1019616&page=1 1/1
,7/25/24, 8:16 AM Assessment 2 (page 3 of 8)
UNISA 2024 ECS1601-24-Y_AS2 Introduction Assessment 2
QUIZ
Question 5
Answer saved
Marked out of 1.00
In 2020, Melokuhle earned a salary of R20 000 a month and paid an income tax of
R2 800; his salary increased to R25 000 a month, and he now pays an income tax of
R3 100. This is an example of a………
a. regressive tax.
b. general tax.
c. progressive tax.
d. proportional tax.
Clear my choice
Question 6
Answer saved
Marked out of 1.00
Expansionary fiscal policy refers to……………, while restrictive fiscal policy refers to
……………
a. an increase in government borrowing; a decrease in government spending.
b. an increase in taxes; an increase in government spending.
c. an increase in government spending; a decrease in taxes.
d. an increase in government spending; an increase in taxes.
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20324020&cmid=1019616&page=2 1/1
, 7/25/24, 8:15 AM Assessment 2 (page 4 of 8)
UNISA 2024 ECS1601-24-Y_AS2 Introduction Assessment 2
QUIZ
Question 7
Answer saved
Marked out of 1.00
Which one of the following statements regarding taxes is correct?
a. Equity in the tax system ensures simplicity and neutrality.
b. Taxes which distort relative prices are not neutral.
c. The aim of taxes is to always change the behaviour of people.
d. In a good tax system, compliance costs are equal to administration costs.
Clear my choice
Question 8
Answer saved
Marked out of 1.00
A tax system is progressive if …
a. the marginal tax rate increases while the average tax rate decreases
b. an increase in taxable income causes an increase in tax paid.
c. the average tax rate increases as taxable income decreases.
d. an increase in tax causes prices to increase, but wages to fall.
Clear my choice
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20324020&cmid=1019616&page=3 1/2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tatendamuzavazi. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53340 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now