ECS2603
ECS2603 ASSIGNMENT 1 SOLUTIONS SEMESTER 2 2020
ECS2603
ASSIGNMENT 1
SOLUTIONS
SEMESTER 2 2020
,ECS 2603 Assignment 1 Second Semester 2020
UNIQUE NUMBER : 735601
1. Which one of the following sources will provide you with an
extensive summary of recent economic developments?
1. SARB Quarterly Bulletin
2. Quarterly Labour Force Survey
3. Budget Review
4. SABC television news
2. In July 2019 the South African Reserve Bank decreased the repo
rate from 6,75% to 6,5%.
This is a decrease of …
1. 25%.
2. 25 basis points.
3. 2,5%.
4. 2,5 basis points
3. Question 3 is based on the following dataset for formal
employment in the non-agricultural sector for South Africa.
Complete the table and answer the question.
Year Number of People
2013 9738541
2014 9775711
2015 9757126
2016 9803589
1
, 2017 9785004
2018 9840759
Average 9783455
Mean 9783455
Median 9780357,5
The median value of the dataset is … average (mean) value.
1. smaller than
2. greater than
3. equal to
4. The following datasets represent the level of employment in the
mining and manufacturing sectors in South Africa for 2017:
Mining: 462 275
Manufacturing: 1 193 311
If employment in mining increases by 20% and in manufacturing
by 9%, then it can be concluded that …
1. more jobs have been created in the mining sector.
2. more jobs have been created in the manufacturing sector.
3. the same number of jobs has been created in the mining and manufacturing
sectors.
5. Which one of the following is used to smooth erratic movements
in time series to obtain a general trend?
1. moving averages
2. weighted averages
3. median
4. simple average
2
ECS2603 ASSIGNMENT 1 SOLUTIONS SEMESTER 2 2020
ECS2603
ASSIGNMENT 1
SOLUTIONS
SEMESTER 2 2020
,ECS 2603 Assignment 1 Second Semester 2020
UNIQUE NUMBER : 735601
1. Which one of the following sources will provide you with an
extensive summary of recent economic developments?
1. SARB Quarterly Bulletin
2. Quarterly Labour Force Survey
3. Budget Review
4. SABC television news
2. In July 2019 the South African Reserve Bank decreased the repo
rate from 6,75% to 6,5%.
This is a decrease of …
1. 25%.
2. 25 basis points.
3. 2,5%.
4. 2,5 basis points
3. Question 3 is based on the following dataset for formal
employment in the non-agricultural sector for South Africa.
Complete the table and answer the question.
Year Number of People
2013 9738541
2014 9775711
2015 9757126
2016 9803589
1
, 2017 9785004
2018 9840759
Average 9783455
Mean 9783455
Median 9780357,5
The median value of the dataset is … average (mean) value.
1. smaller than
2. greater than
3. equal to
4. The following datasets represent the level of employment in the
mining and manufacturing sectors in South Africa for 2017:
Mining: 462 275
Manufacturing: 1 193 311
If employment in mining increases by 20% and in manufacturing
by 9%, then it can be concluded that …
1. more jobs have been created in the mining sector.
2. more jobs have been created in the manufacturing sector.
3. the same number of jobs has been created in the mining and manufacturing
sectors.
5. Which one of the following is used to smooth erratic movements
in time series to obtain a general trend?
1. moving averages
2. weighted averages
3. median
4. simple average
2
