, Started on Sunday, 4 August 2024, 2:42 PM
State Finished
Completed on Sunday, 4 August 2024, 2:50 PM
Time taken 7 mins 30 secs
Marks 16.00/16.00
Grade 10 out of 10.00 (81.25%)
Question 1 In the circular flow of production, income and spending
Complete
Mark 1.00 out of Select one:
1.00
a. government generate income from both the goods market and factor market.
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question b. firms and households purchase public goods and services from the government.
c. government is the buyer of factors of production supplied by the households.
d. purchases by government constitute leakage from the circular flow.
Question 2 Which one of the following statements describe a leakage from the circular flow of income and spending in South Africa?
Complete
Mark 1.00 out of Select one:
1.00 a. Investment by a Lesotho beer company in a new brewery in South Africa.
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question b. A decision by a major supermarket chain to sell chicken from Brazil.
c. The sale of fruit exports to the European Union.
d. Defence expenditure by South African government, via contracts with local companies.
Question 3 Which one of the following statements describe a leakage from the circular flow of income and spending in South Africa?
Complete
Mark 1.00 out of Select one:
1.00 a. Defence expenditure by South African government, via contracts with local companies.
Flag
question b. The sale of fruit exports to the European Union
c. A decision by a major supermarket chain to sell chicken from Brazil
d. Investment by a Lesotho beer company in a new brewery in South Africa
Question 4 Use the following two statements to answer the question:
Complete
(1) Investment spending is a stock variable.
Mark 1.00 out of
1.00 (2) The weekly consumption of beer is a flow variable.
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question Select one:
a. Only (1) is correct.
b. Both (1) and (2) are incorrect.
c. (1) is incorrect and (2) is correct.
d. Both (1) and (2) are correct.
Question 5 Which of the following best describes natural resources?
Complete
Mark 1.00 out of Select one:
1.00
a. They consist of machines, buildings and tools.
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question b. They can always be replaced.
c. They are remunerated by rent.
d. They are unlimited in supply.
Which of the following statements is/are NOT an example of macroeconomics?
a) An increase in the general price level in the economy.
b) Shoprite (Africa’s largest supermarket retailer)'s decision to keep the price of basic goods unchanged even when inflation is rising.
c) The price of oranges at the supermarket.
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