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ECS1601-25-EX10A

ECS1601-25-EX10A

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In the business cycle, the recession phase is followed by a/an …

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The monetary transmission mechanism refers to the impact of_____________.

fiscal policy on the price level and income level

incomes policies on the price level and income level

a change in the interest rate on the price level and income level

a change in wages on the price level and income level

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An appropriate government intervention in the economy …

is to get involved in the economic sectors where the private sector is producing goods and services more efficiently.

involves measures to correct market failure and provision of public goods and services.

has to do with taking income from those with low incomes and providing income to those with higher incomes.

is to encourage a monopolistic market that satisfies the aggregate demand for goods and services by the public.

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Which of the following is an argument in favour of nationalisation?

Private firms will have greater access to investment capital.

Privatisation may replace state monopoly with private monopoly.

Private firms consider the broader view of public interest such as the provision of postal services.

Private firms do not take into account any possible external costs or benefits.

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Which of the following is/are correct regarding the distinction between macroeconomics and microeconomics?

a) Salaries paid to Checkers employees is an example of a macroeconomic variable.

b) An import by Auto Spares of a new machine for painting cars is an example of a microeconomic variable.

only b is correct

both a and b are correct

both a and b are incorrect

only a is correct

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Assume in 2018, South African economy was experiencing stagflation. Following the implementation of incomes policy in the last quarter of 2018, the economy moved out of stagflation during the first quarter of 2019. This will be illustrated by a/an…

rightward shift of the Phillips curve, an increase in inflation and employment level.

leftward shift of the Phillips curve, a decrease in inflation and unemployment.

rightward shift of the Phillips curve, an increase in inflation and unemployment.

leftward shift of the Phillips curve, a decrease in inflation and employment level.

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When the rand appreciates against the dollar, it

a. appreciates against other currencies as well.

b. stimulates the exports and dampens the imports.

c. improves the balance of payments.

None of the statements are correct.

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The effect of a change in the price level on consumer’s purchasing power is called…

the wealth effect.

the international trade effect.

the net export effect.

the interest rate effect.

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Many economists believe that the aftermath of the COVID-19 pandemic for the economy could be stagflation, which can be illustrated by …

leftward shift of the Phillips curve, indicating that employment and inflation increased.

a movement along the Phillips curve, indicating a decrease in inflation and increase in unemployment.

rightward shift of the Phillips curve, showing an increase in inflation and unemployment.

a movement along the Phillips curve, showing an increase in inflation and decrease in unemployment.

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If the consumption schedule coincided with the 45-degree line ...

the multiplier would be 2.

the marginal propensity to consume would be zero.

the marginal propensity to save would be 1.

consumption would equal income at all income levels.

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