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ECS1601 ASSESSMENT 1 2024 Which of the following statements is true with regard to injection and leakage in the domestic economy? Select one: a. The income gains by households and rms in the circular ow of income and spending are injections. b. Gover€2,64
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ECS1601 ASSESSMENT 1 2024 Which of the following statements is true with regard to injection and leakage in the domestic economy? Select one: a. The income gains by households and rms in the circular ow of income and spending are injections. b. Gover
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Cours
Economics IB (ECS1601)
Établissement
University Of South Africa (Unisa)
Book
Economics for South African Students
ECS1601 ASSESSMENT 1 2024
Which of the following statements is true with regard to injection and leakage in the domestic economy?
Select one:
a. The income gains by households and rms in the circular ow of income and spending are injections.
b. Government spending on imports is an injecti...
Started on Sunday, 4 August 2024, 4:36 AM
State Finished
Completed on Sunday, 4 August 2024, 4:54 AM
Time taken 18 mins 45 secs
Marks 15.00/16.00
Grade 9.38 out of 10.00 (93.75%)
Question 1
Complete
Mark 1.00 out of 1.00
Which of the following statements is true with regard to injection and leakage in the domestic economy?
Select one:
a. The income gains by households and firms in the circular flow of income and spending are injections.
b. Government spending on imports is an injection because money is added to the circular flow of income and
spending.
c. Spending by foreign countries on a domestic economy constitutes an injection in the circular flow of income and
spending.
d. Injection occurs when there is an outflow of money from the circular flow of income and spending to the
government.
Question 2
Complete
Mark 1.00 out of 1.00
Which one of the following statements describe a leakage from the circular flow of income and spending in South Africa?
Select one:
a. Investment by a Lesotho beer company in a new brewery in South Africa.
b. A decision by a major supermarket chain to sell chicken from Brazil.
c. The sale of fruit exports to the European Union.
d. Defence expenditure by South African government, via contracts with local companies.
,8/4/24, 5:02 AM Assessment 9: Alternative Assessment 1: Attempt review
Question 3
Complete
Mark 1.00 out of 1.00
Which of the following best describes natural resources?
Select one:
a. They are unlimited in supply.
b. They are remunerated by rent.
c. They consist of machines, buildings and tools.
d. They can be replaced.
Question 4
Complete
Mark 1.00 out of 1.00
In the circular flow of goods and services______
Select one:
a. households are the suppliers of factors of production in the goods market.
b. households combine various production inputs to produce outputs or goods and services.
c. firms buy factors of production from households in the good market.
d. production inputs offered for sale on the factor market are traded by households.
Question 5
Complete
Mark 1.00 out of 1.00
Which of the following statements about the circular flow of production, income, and spending is/are true?
(1) Firms are sellers in the factor market and buyers in the goods markets.
(2) In the real sector, both factors of production and goods and services are traded.
(3) In the circular flow of economic activity, the financial sector operates independently of the real sector.
(4) Households are both sellers and buyers in the flow of economic activities.
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