ECS2603 EXAM PACK 2025 | UNISA Past Papers, Questions & Answers

ECS2603
EXAM PACK

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Question text
1 Which of the following statements is/are correct? a) GDP at nominal prices is the same as real
GDP b) In the following series the average is 4 and the median is also 4 1, 7, 5, 3, 2, 4 c) The
purpose of the national accounts is to predict the performance of the economy

Select one:
a. All the statements are correct
b. Only a and b
c. Only a and c
d. Only b and c
e. None of the statements is correct

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The correct answer is: None of the statements is correct

Question text
2 Which of the following statements is/are correct? a) Value = volume x price b) Volume = value
x price c) Volume = value - price

Select one:
a. All the statements are correct
b. Only a and b
c. Only a and c
d. Only b and c
e. Not one of alternatives A. to D. is correct

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The correct answer is: Only a and c

Question text
3 Which of the following statements is/are correct? a) The purchasing power parity (PPP)
exchange rate can only be expressed as an index b) The level of real wage increases are the
most important indicator of the performance of the economy c) The prime rate of commercial
banks is the most important indicator of the performance of the economy

Select one:
a. Not one of the statements is correct
b. Only a
c. Only b
d. Only c
e. Not one of alternatives A. to D. is correct

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The correct answer is: Only a

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Question text
4 Which indicator is the best measure of the percentage change in the production of the average
citizen of South Africa for 2012?

Select one:
a. Real GDP per capita for 2012
b. The consumer price index for 2012
c. The production price index for 2012
d. The percentage change in the GDP per capita between 2011 and 2012
e. The percentage change in the GNI between 2011 and 2012

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The correct answer is: The percentage change in the GDP per capita between 2011 and 2012

Question text
5 Which of the following statements is/are correct? a) The primary sector contributes the largest
share of GDP (or gross value added) in South Africa b) Gross domestic expenditure includes the
value of all exports of goods and services c) Gross capital formation (i e investment) consists of
gross fixed capital formation and the change in inventories

Select one:
a. All the statements are correct
b. Only a and c
c. Only b
d. Only c
e. Not one of alternatives A. to D. is correct

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The correct answer is: Only c

Question text
6 Questions B 6 to B 8 is based on Table S-107, included at the end of this paper Which of the
following statements is/are correct? a) In 2004 gross domestic expenditure was larger than
expenditure on gross domestic product because exports of goods and services exceeded
imports of goods and sences b) Final consumption expenditure by households is not included in
gross domestic expenditure c) Final consumption expenditure by general government at constant
prices increased each year

Select one:
a. All the statements are correct
b. Only a and b
c. Only a and c
d. Only b and c
e. None of the statements is correct

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The correct answer is: Only a and c

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Question text
7 In 2011 final consumption expenditure at current prices contributed _______% to gross
domestic expenditure at current prices

Select one:
a. 79,6
b. 1,26
c. 126
d. cannot be calculated

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The correct answer is: 79,6

Question text
8 From 2004 to 2011, average annual growth in real gross domestic expenditure (0 e at constant
prices) exceeded average annual growth in real expenditure on gross domestic product by
_______?

Select one:
a. 94 basis points
b. 94 per cent
c. 0,94 per cent
d. cannot be calculated with the avalaibe information

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The correct answer is: cannot be calculated with the avalaibe information

Question text
9 Which of the following statements is/are correct? a) Productivity can only increase if output
increases b) In South Africa's case, primary income to the rest of the world has always been
bigger than primary income from the rest of the world c) Most of South Africa's foreign trade is
with Africa

Select one:
a. All the statements are correct
b. Only a
c. Only b
d. Only c
e. None of the statements is correct

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The correct answer is: Only b