Exam (elaborations)
ETP3702 EXAM PORTFOLIO 2024
- Course
- ETP3702 (ETP3702)
- Institution
- University Of South Africa
ETP3702 EXAM PORTFOLIO 2024
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ETP3702ENTREPRENEURSHIP IIIB
QUESTIONS, NOTES AND ANSWERS
FOR FURTHER CLARIFICATION PLEASE
EMAIL ME AT
KEVINLUGWIRI98@GMAIL.COM
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The marks the beginning of the contraction of the business cycle.
Select one:
a.
downswing
b.
peak
c.
upswing
d.
trough
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Question2
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The macroeconomic goals include .
[1] ensuring free higher education for all deserving students
[2] ensuring the full employment of factors of production
[3] ensuring minimal or no increase in the prices of goods
[4] ensuring that imports equal exports
Select one:
a.
only 2 and 3 are correct
b.
only 4 is correct
c.
only 2,3 and 4 are correct
d.
only 1,2,3 and 4 are correct
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Which one of the following statements is correct?
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Select one:
a.
The PPI includes capital and intermediate goods but excludes services.
b.
The basket of goods used to calculate the PPI is the same basket of goods used to calculate
the CPI.
c.
The basket of goods used to calculate CPI is adjusted from month to month as consumers'
expenditure patterns change.
d.
A larger increase in the CPI for a particular type of good, e.g. clothing and footwear,
indicates that that particular type of good became more important in the CPI during that
period.
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Which of the following statements is true about the measurement of economic growth?
Select one:
a.
The expenditures approach to GDP measurement does not permit the inclusion of changes
in inventories.
b.
The income method approach to GDP implies that the value of consumer goods, durable
goods, semi-durable goods and non-durable goods and services are all added together to
calculate total GDP.
c.
When using the production method to calculate GDP, the value added to production by a
factory using imported machinery will also be added to production.
d.
When using the expenditure approach, imports form part of the GDP.
Assume that in the year 2018, the nominal GDP of South Africa was equal to R8 756,2 billion,
and the GDP deflator was 102. What is South Africa's GDP in constant prices?
, lOMoARcPSD|48946436
Select one:
a.
R8 584,5 billion
b.
It cannot be calculated with the available information
c.
R8 756,2 billion
d.
R8 931,32 billion
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In a Lorenz diagram for income, the line of equality shows ...
a.
how much redistribution occurs.
b.
the income distribution if everyone received the same income.
c.
the most equitable income distribution.
d.
how unequally incomes are distributed.
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An increase in the value of goods and services produced, calculated at market prices,
implies an increase in the welfare of all members of the population of a country.
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