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ECS2602 ASSIGNMENT 1 SEMESTER 2 2024
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ECS2602 ASSIGNMENT 1 SEMESTER 2 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
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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
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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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