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ECS3703 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED R50,00
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ECS3703 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED
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Well-structured ECS3703 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... Question 1 Assume that South Africa trades with the rest of the world and has a deficit in its trade balance. With the aid of a diagram, explain how South Afri...

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  • July 28, 2024
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ECS3703
Assignment 2 Semester 2 2024
Unique Number:
Due Date: 2024

QUESTION 1

To correct the trade balance deficit, South Africa could devalue or depreciate its currency, the
South African rand (ZAR). This means that the ZAR would lose value relative to foreign
currencies. For example, if the exchange rate moves from

R=1ZAR/EUR = 1 to R=1.20ZAR/EUR = 1.20 ZAR/EUR,

the rand has depreciated by 20%. This makes South African goods and services cheaper for
foreign buyers, while making foreign goods and services more expensive for South African
consumers. This change would incentivize foreign buyers to purchase more South African
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