Exam (elaborations)
ECS1601 Assessment 3_ Attempt 1 review 2023 Answers
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Contains a detailed evaluation of the student's performance, with comments and feedback on their answers to the assessment questions.
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By: thusithembelihle12 • 1 year ago
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Dashboard CalendarDashboard / My courses / ECS1601-23-S1 / Online assessments / Assessment 3
Started on Sunday, 16 April 2023, 2:20 PM
State Finished
Completed on Sunday, 16 April 2023, 3:34 PM
Time taken 1 hour 14 mins
Marks 10.00/20.00
Grade 50.00 out of 100.00
Question 1
Incorrect
Mark 0.00 out of 1.00
Which of the following statements is/are correct about what influences South African exports?
a) Changes in exchange rates do have an influence on South African exports.
b) Changes in economic conditions in the rest of the world.
c) Changes in the demand for exports.
e) International competitiveness does not influence exports.
a, c and e
a, b and c
a, b and e
a and c
a and b
SA exports are influenced by economic conditions in the rest of the world, international competitiveness, exchange rates, and the
demand for exports does not depend on the income level in SA; therefore, export spending is exogenous.
Question 2
Incorrect
Mark 0.00 out of 1.00
Suppose that the South African Reserve Bank decides to ______ the interest rate. The impact on the investment function is a/an
_________ in investment spending and will result in a/an ________ shift in the aggregate expenditure curve.
a. lower; increase; downward
b. lower; decrease; downward
c. raise; increase; upward
d. raise; decrease; downward
See section 8.2. of the prescribed textbook.
, Question 3
Correct
Mark 1.00 out of 1.00
Dashboard Calendar
Given the following information:
Dashboard / My courses / ECS1601-23-S1 / Online assessments / Assessment 3
Autonomous consumption spending R350 billion
Marginal propensity to save 1/
4
Investment spending R450 billion
Government spending R300 billion
What is the multiplier?
Answer: 4
Question 4
Correct
Mark 1.00 out of 1.00
Use a Keynesian model to calculate the answer.
Full employment output = 80 million
Investment = 20 million
Autonomous consumption = 15 million
The marginal propensity to consume = 0,6
What will the equilibrium level of income be?
Answer: 87.5 million
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