9 ECS1601/102
This partial fill-in paper consists of 15 pages plus instructions for the completion of a mark-
reading sheet.
Read the following instructions CAREFULLY before answering the paper.
The paper is divided into two sections: Section A and Section B.
SECTION A
Candidates must answer ALL the questions in this section.
SECTION B
In this section ALL the questions must be answered on the mark-reading sheet which is
supplied. Carefully follow the instructions for the completion of the mark-reading sheet.
Please ensure that you use the correct unique number on the mark-reading sheet:
If you are registered for ECS102-8, use the unique number 471372.
If you are registered for ECN1M2-Z, use the unique number 473855.
If you are registered for EFE1M2-E, use the unique number 473863.
If you are registered for REC102-Y, use the unique number 473871.
Your mark-reading sheet can get lost and you MUST therefore also write down your answers
for this section. On the last page of this paper space is provided for this purpose.
, 10
SECTION A [50 MARKS]
Answer ALL the following questions in your examination paper in the blocks provided.
QUESTION 1 (May 2005)
Explain the difference between a stock variable and a flow variable. Give one
example of each. (4)
QUESTION 2
Define the gross domestic product (GDP). (4)
QUESTION 3
Name the three measures that are used to measure the inequality of the distribution of income. (3)
, 11 ECS1601/102
QUESTION 4
Use the following diagram to show how the equilibrium in the money market changes if the
level of income in the economy increases. Remember to label your diagram. (4)
QUESTION 5
This question is based on the following figure which represents the impact of a specific import tariff on
T-shirts.
The original domestic demand and supply curves of T-shirts before international trade are represented by
D and S. The world price of T-shirts is R10,00.
This partial fill-in paper consists of 15 pages plus instructions for the completion of a mark-
reading sheet.
Read the following instructions CAREFULLY before answering the paper.
The paper is divided into two sections: Section A and Section B.
SECTION A
Candidates must answer ALL the questions in this section.
SECTION B
In this section ALL the questions must be answered on the mark-reading sheet which is
supplied. Carefully follow the instructions for the completion of the mark-reading sheet.
Please ensure that you use the correct unique number on the mark-reading sheet:
If you are registered for ECS102-8, use the unique number 471372.
If you are registered for ECN1M2-Z, use the unique number 473855.
If you are registered for EFE1M2-E, use the unique number 473863.
If you are registered for REC102-Y, use the unique number 473871.
Your mark-reading sheet can get lost and you MUST therefore also write down your answers
for this section. On the last page of this paper space is provided for this purpose.
, 10
SECTION A [50 MARKS]
Answer ALL the following questions in your examination paper in the blocks provided.
QUESTION 1 (May 2005)
Explain the difference between a stock variable and a flow variable. Give one
example of each. (4)
QUESTION 2
Define the gross domestic product (GDP). (4)
QUESTION 3
Name the three measures that are used to measure the inequality of the distribution of income. (3)
, 11 ECS1601/102
QUESTION 4
Use the following diagram to show how the equilibrium in the money market changes if the
level of income in the economy increases. Remember to label your diagram. (4)
QUESTION 5
This question is based on the following figure which represents the impact of a specific import tariff on
T-shirts.
The original domestic demand and supply curves of T-shirts before international trade are represented by
D and S. The world price of T-shirts is R10,00.
