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ECS2602 ASSIGNMENT 1 SEMESTER 2 2024

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ECS2602 ASSIGNMENT 1 SEMESTER 2 2024

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  • August 11, 2024
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8/10/24, 1:49 PM Assessment 1 (page 1 of 30)




UNISA  2024  ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 1

QUIZ




Question 1

Not yet answered

Marked out of 1.00




Which one of the following statements is INCORRECT?


Select one:
A. Real GDP is a measurement of GDP in which the quantities produced are valued at the prices in a base year; in other
words, it considers inflation.

B. GDP at constant prices measures the actual physical volume of production valued at the prices in a base year.

C. An increase in the prices of goods and services produced might increase the nominal GDP over time.

D. GDP at current prices takes a continuous and considerable rise in the prices of goods and services into
consideration.




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20737737&cmid=848061 1/1

,8/10/24, 1:49 PM Assessment 1 (page 2 of 30)




UNISA  2024  ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 1

QUIZ




Question 2

Not yet answered

Marked out of 1.00




Which one of the following statements is INCORRECT?

Select one:
A. An increase in nominal GDP can result from an increase in the quantity produced of goods and services and/or the
increase in the prices of goods and services produced.

B. If the population in South Africa grows at 5% per year, and the economic growth rate is 3% per year, a decline in the
real GDP per capita occurs.

C. An increase of 20% in the price of lamb meat is an example of inflation.

D. Stabilisation policies refer to fiscal policy and monetary policy.




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20737737&cmid=848061&page=1 1/1

,8/10/24, 1:49 PM Assessment 1 (page 3 of 30)




UNISA  2024  ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 1

QUIZ




Question 3

Not yet answered

Marked out of 1.00




This question is based on the following diagram. Assume that G and T increase by R100.




The equilibrium level of output and income at point c will be __________, and the net effect of the budget balanced on
the level of output and income is ____.

Select one:
A. 1 200; an increase of 200

B. 1 100; an increase of 100

C. 1 500; an increase of 500

D. 1 100; a decrease of 100




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20737737&cmid=848061&page=2 1/1

, 8/10/24, 1:49 PM Assessment 1 (page 4 of 30)




UNISA  2024  ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 1

QUIZ




Question 4

Not yet answered

Marked out of 1.00




Given the following information, answer this question.

Autonomous consumption spending = R100 million

Investment spending = R300 million
Government spending = R300 million

Taxes = R60 million

Marginal propensity to consume = ¾

Level of full employment = R2 860 million

The equilibrium level of output and income is equal to __________.

Select one:
A. R3 275 million

B. R2 860 million

C. R2 620 million

D. R2 560 million




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20737737&cmid=848061&page=3 1/1

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