Started on Friday, 14 March 2025, 11:19 AM
State Finished
OSCAR THE TUTOR
Completed on Friday, 14 March 2025, 1:07 PM
Time taken 1 hour 47 mins +27737560989
Marks 34.25/40.00 for FAC MAC ECS DSC TAX QMI FIN INV BNU STA
Grade 85.63 out of 100.00 tutorials
Feedback Well done! You seem to understand the content of Learning Unit 02.
Question 1 Use the Quarterly Bulletin- No 306 - December 2022 of the South African Reserve Bank to fill in the blanks with the appropriate values.
Partially correct Information on how to access the SARB Quarterly Bulletin can be found here:
Mark 2.25 out
of 3.00 How to access a SARB Quarterly Bulletin
Flag Item Year
question
2019 2020 2021
Gross value added 424530
491860
by kind of economic
activity at current
prices for the
primary sector
R million
Final consumption 2996836
expenditure by
households at 2978597
constant 2015 prices
R million
Total CPI 4.1 4.5
percentage change
%
Balance on current -144162
account of the
Balance of -109588
Payments
R million
Gross value added by kind of economic activity at current prices for the primary sector can be found on page S-116 of the SARB Quarterly
Bulletin for December 2022 (in the National Accounts section).
Final consumption expenditure by households at constant 2015 prices can be found on page S-117 of the SARB Quarterly Bulletin for
December 2022 (in the National Accounts section).
Total CPI percentage change can be found on page S-149 of the SARB Quarterly Bulletin for December 2022 (in the General Economic
Indicators section). Note that you need to find the figure for the total CPI (ie including goods and services).
The balance on the current account of the Balance of Payments can be found on page S-84 of the SARB Quarterly Bulletin for December
2022 (in the External Economic Accounts section).
The complete table will look as follows:
Item Year
2019 2020 2021
Gross value added 424530 491860
by kind of economic
activity at current
prices for the
primary sector
R million
Final consumption 2996836 2978597
expenditure by
households at
constant 2015 prices
R million
Total CPI percentage 4.1 4.5
change
Balance on current -144162 109588
account of the
Balance of
, Payments
R million
Question 2 Given that a flow variable is measured over a period of time, which of the following economic variables are flow variables?
Correct
Mark 2.00 out Labour force
of 2.00
Flag Exports
question
Unemployment
Savings
Your answer is correct.
The following variables are measured over a period of time and are therefore examples of flow variables:
Income – your earnings are X amount per month or over a year.
Investment – ABC Manufacture invests a certain amount per year. Change in inventories is also a flow variable.
Saving - the amount that was saved over a certain period of time, for example a year.
Exports and Imports - the amount that was exported or imported during a specific period, for example a year.
The following variables are measured at a particular point in time and are therefore examples of stock variables:
Financial wealth – at a specific time your financial wealth is a certain amount.
Labour force – the labour force is a number of people in the labour force at a specific time.
Inventories – measured at a specific time, for instance at the end of the month or once a week.
Money supply – the amount of money in the economy at a specific time.
There are other variables that are neither stocks nor flows but represent other types of variables, for example:
Unemployment - shows the number of employed persons at a particular point of time as a percentage of the labour force.
The correct answers are: Savings , Exports
Question 3 Which one of the following sources will provide you with data on employment and unemployment based on household surveys?
Correct
Mark 1.00 out
of 1.00
Select one:
Flag
question the Quarterly Labour Force Survey.
the Financial Mail.
the budget review
Quarterly Bulletin of the South African Reserve Bank
Your answer is correct.
The Quarterly Labour Force Survey will provide you with data on employment and unemployment based on household surveys.
The correct answer is: the Quarterly Labour Force Survey.
Question 4 The table below presents the gold price per ounce from 2013 to 2020. What is the simple average (1 decimal place and leave out the R
Correct sign) of the data set?
Mark 3.00 out Gold Price
of 3.00 Year
(R per ounce)
Flag 2013 23050.6
question 2014 24892.7
2015 24570.1
2016 25321.9
2017 26852.7
2018 27000.9 OSCAR THE TUTOR
2019 26159.3
2020 27845.7
+27737560989
for FAC MAC ECS DSC TAX QMI FIN INV
BNU STA tutorials
, Answer: 25711.7
The simple average is calculated by adding all the observations together and dividing the answer by the number of observations. Thus, for
this question you will add all eight the prices in the Gold Price column together and divide the answer by 8.
The correct answer is: 25711.7
Question 5 If the nominal rand/dollar exchange rate changes from R14.18/$ to R15.71/$, what is the percentage change in the exchange rate? Round
Correct off your answer to 2 decimal places and leave out the % sign.
Mark 3.00 out
of 3.00
Answer: 10.79
Flag
question
The calculation is as follows:
(new exchange rate/initial exchange rate -1) x 100
The correct answer is: 10.79
Question 6 If gross domestic product increases from R4697090 million to R5293751 million what is the absolute change in R millions in gross
Correct domestic product (GDP)?
Mark 2.00 out In your answer leave out the R sign and there should be no spaces between the figures
of 2.00
Flag
question Answer: 596661
The absolute change is:
new GDP - initial GDP
The correct answer is: 596661
Question 7 An important skill you need to master in this course is to be able to find relevant data. This activity tests your skill to find information
Not answered using the online statistical query tool of the SARB.
Marked out of See the following resources if you are unsure how to do it:
2.00
Flag Online query tool pdf document
question
Exports of goods and services (KBP6013Y) at constant prices in 2020 was R .... million.
Answer:
Exports of goods and services (KBP6013Y) at constant prices in 2020 was R ....million.
, The correct answer is: 1072450
Question 8 If the South African Reserve Bank (SARB) increases the repo rate from 4% to 6% by how many percentage points ( two decimal places and
Correct leave out the percentage sign) did the repo rate increases?
Mark 3.00 out
of 3.00
Answer: 2
Flag
question
The calculation is as follows:
new repo rate - initial repo rate
The correct answer is: 2.00
Question 9 If the South African Reserve Bank (SARB) increases the repo rate from 5% to 5% by how many basis points did the repo rate increases?
Correct
Mark 3.00 out
of 3.00 Answer: 0
Flag
question
The calculation is as follows:
(new repo rate - initial repo rate) x 100
The correct answer is: 0.0
Question 10 If gross domestic product increases from R4682881 million to R5437685 million what is the percentage change (one decimal point and
Correct leave out the % sign) in gross domestic product (GDP)?
Mark 3.00 out
of 3.00
Answer: 16.1
Flag
question
The absolute change is:
(new GDP/initial GDP - 1) * 100
The correct answer is: 16.1
Question 11 The table below represents the gold price per ounce from 2013 to 2020. What is the median (1 decimal place and leave out the R sign) of
Correct the data set?
State Finished
OSCAR THE TUTOR
Completed on Friday, 14 March 2025, 1:07 PM
Time taken 1 hour 47 mins +27737560989
Marks 34.25/40.00 for FAC MAC ECS DSC TAX QMI FIN INV BNU STA
Grade 85.63 out of 100.00 tutorials
Feedback Well done! You seem to understand the content of Learning Unit 02.
Question 1 Use the Quarterly Bulletin- No 306 - December 2022 of the South African Reserve Bank to fill in the blanks with the appropriate values.
Partially correct Information on how to access the SARB Quarterly Bulletin can be found here:
Mark 2.25 out
of 3.00 How to access a SARB Quarterly Bulletin
Flag Item Year
question
2019 2020 2021
Gross value added 424530
491860
by kind of economic
activity at current
prices for the
primary sector
R million
Final consumption 2996836
expenditure by
households at 2978597
constant 2015 prices
R million
Total CPI 4.1 4.5
percentage change
%
Balance on current -144162
account of the
Balance of -109588
Payments
R million
Gross value added by kind of economic activity at current prices for the primary sector can be found on page S-116 of the SARB Quarterly
Bulletin for December 2022 (in the National Accounts section).
Final consumption expenditure by households at constant 2015 prices can be found on page S-117 of the SARB Quarterly Bulletin for
December 2022 (in the National Accounts section).
Total CPI percentage change can be found on page S-149 of the SARB Quarterly Bulletin for December 2022 (in the General Economic
Indicators section). Note that you need to find the figure for the total CPI (ie including goods and services).
The balance on the current account of the Balance of Payments can be found on page S-84 of the SARB Quarterly Bulletin for December
2022 (in the External Economic Accounts section).
The complete table will look as follows:
Item Year
2019 2020 2021
Gross value added 424530 491860
by kind of economic
activity at current
prices for the
primary sector
R million
Final consumption 2996836 2978597
expenditure by
households at
constant 2015 prices
R million
Total CPI percentage 4.1 4.5
change
Balance on current -144162 109588
account of the
Balance of
, Payments
R million
Question 2 Given that a flow variable is measured over a period of time, which of the following economic variables are flow variables?
Correct
Mark 2.00 out Labour force
of 2.00
Flag Exports
question
Unemployment
Savings
Your answer is correct.
The following variables are measured over a period of time and are therefore examples of flow variables:
Income – your earnings are X amount per month or over a year.
Investment – ABC Manufacture invests a certain amount per year. Change in inventories is also a flow variable.
Saving - the amount that was saved over a certain period of time, for example a year.
Exports and Imports - the amount that was exported or imported during a specific period, for example a year.
The following variables are measured at a particular point in time and are therefore examples of stock variables:
Financial wealth – at a specific time your financial wealth is a certain amount.
Labour force – the labour force is a number of people in the labour force at a specific time.
Inventories – measured at a specific time, for instance at the end of the month or once a week.
Money supply – the amount of money in the economy at a specific time.
There are other variables that are neither stocks nor flows but represent other types of variables, for example:
Unemployment - shows the number of employed persons at a particular point of time as a percentage of the labour force.
The correct answers are: Savings , Exports
Question 3 Which one of the following sources will provide you with data on employment and unemployment based on household surveys?
Correct
Mark 1.00 out
of 1.00
Select one:
Flag
question the Quarterly Labour Force Survey.
the Financial Mail.
the budget review
Quarterly Bulletin of the South African Reserve Bank
Your answer is correct.
The Quarterly Labour Force Survey will provide you with data on employment and unemployment based on household surveys.
The correct answer is: the Quarterly Labour Force Survey.
Question 4 The table below presents the gold price per ounce from 2013 to 2020. What is the simple average (1 decimal place and leave out the R
Correct sign) of the data set?
Mark 3.00 out Gold Price
of 3.00 Year
(R per ounce)
Flag 2013 23050.6
question 2014 24892.7
2015 24570.1
2016 25321.9
2017 26852.7
2018 27000.9 OSCAR THE TUTOR
2019 26159.3
2020 27845.7
+27737560989
for FAC MAC ECS DSC TAX QMI FIN INV
BNU STA tutorials
, Answer: 25711.7
The simple average is calculated by adding all the observations together and dividing the answer by the number of observations. Thus, for
this question you will add all eight the prices in the Gold Price column together and divide the answer by 8.
The correct answer is: 25711.7
Question 5 If the nominal rand/dollar exchange rate changes from R14.18/$ to R15.71/$, what is the percentage change in the exchange rate? Round
Correct off your answer to 2 decimal places and leave out the % sign.
Mark 3.00 out
of 3.00
Answer: 10.79
Flag
question
The calculation is as follows:
(new exchange rate/initial exchange rate -1) x 100
The correct answer is: 10.79
Question 6 If gross domestic product increases from R4697090 million to R5293751 million what is the absolute change in R millions in gross
Correct domestic product (GDP)?
Mark 2.00 out In your answer leave out the R sign and there should be no spaces between the figures
of 2.00
Flag
question Answer: 596661
The absolute change is:
new GDP - initial GDP
The correct answer is: 596661
Question 7 An important skill you need to master in this course is to be able to find relevant data. This activity tests your skill to find information
Not answered using the online statistical query tool of the SARB.
Marked out of See the following resources if you are unsure how to do it:
2.00
Flag Online query tool pdf document
question
Exports of goods and services (KBP6013Y) at constant prices in 2020 was R .... million.
Answer:
Exports of goods and services (KBP6013Y) at constant prices in 2020 was R ....million.
, The correct answer is: 1072450
Question 8 If the South African Reserve Bank (SARB) increases the repo rate from 4% to 6% by how many percentage points ( two decimal places and
Correct leave out the percentage sign) did the repo rate increases?
Mark 3.00 out
of 3.00
Answer: 2
Flag
question
The calculation is as follows:
new repo rate - initial repo rate
The correct answer is: 2.00
Question 9 If the South African Reserve Bank (SARB) increases the repo rate from 5% to 5% by how many basis points did the repo rate increases?
Correct
Mark 3.00 out
of 3.00 Answer: 0
Flag
question
The calculation is as follows:
(new repo rate - initial repo rate) x 100
The correct answer is: 0.0
Question 10 If gross domestic product increases from R4682881 million to R5437685 million what is the percentage change (one decimal point and
Correct leave out the % sign) in gross domestic product (GDP)?
Mark 3.00 out
of 3.00
Answer: 16.1
Flag
question
The absolute change is:
(new GDP/initial GDP - 1) * 100
The correct answer is: 16.1
Question 11 The table below represents the gold price per ounce from 2013 to 2020. What is the median (1 decimal place and leave out the R sign) of
Correct the data set?
