Other
ECS2602 ASSIGNMENT 1 SEMESTER 2 2024
- Institution
- University Of South Africa (Unisa)
ECS2602 ASSIGNMENT 1 SEMESTER 2 2024
[Show more]
Content preview
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
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)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now