ECS1601-Assignment 6-S2-2022 Q&
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Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
Started on Wednesday, 19 October 2022, 8:04 AM
State Finished
Completed on Wednesday, 19 October 2022, 8:32 AM
Time taken 27 mins 12 secs
Marks 19.00/19.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which one of the following is not one of the problems associated with GDP?
a. drug smuggling
b. subsistence farming
c. increased labour force
d. negative externalities
Drug smuggling and subsistence farming constitute activities for which processes are not formalized and their contribution to the economy
is not easily quantified
Question 2
Correct
Mark 1.00 out of 1.00
Which one of the following is not a supply factor in economic growth?
a. Labour supply
b. Equipment
c. Exports
d. Technology
Exports are part of the determinants of domestic demand
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Question 3
Correct
Mark 1.00 out of 1.00
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In 2008, South Africa experienced higher job losses in the mining industry, resulting from insufficient demand for mining commodities. This is
Dashboard
an / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
example of…
a. structural unemployment
b. cyclical unemployment
c. seasonal unemployment
d. frictional unemployment
See the explanations of the potential causes of cyclical unemployment on page 402 in the prescribed textbook.
Question 4
Correct
Mark 1.00 out of 1.00
Which of the following can result in a reduction of unemployment?
a. Reduction in labour intensity of production
b. Increased immigration
c. Increased population growth
d. Increase in demand for exports
e. Decrease in government spending
An increase in the demand for exports will increase aggregated demand, which can increase production, income and therefore also
employment. Option A is incorrect. A reduction in the labour intensity of production implies that production becomes more capital intensive,
implying that less labour will be needed and that unemployment may therefore increase. Options B and C are incorrect since increased
immigration and increased population growth implies more people competing for the same job, and this will therefore not decrease
unemployment. Option E is incorrect because a decrease in government spending might mean that some person in the government sector
lose his jobs, which will increase unemployment. A decrease in government spending may also decrease aggregated demand, and thus
decrease production and income, which will cause an increase in unemployment.
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Question 5
Correct
Mark 1.00 out of 1.00
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Based on the following diagram:
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
A complete business cycle by definition will include
a. A-trough, AB-upswing, B-peak, BC-downswing
b. only A-trough and AB-upswing
c. only B-peak and BC-recession
d. only A-trough and B-peak
e. no troughs
Correct.
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Expected Solutions 100%
written by
Maddigits
www.stuvia.com
Downloaded by: hlomu |
Distribution of this document is illegal
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MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
Started on Wednesday, 19 October 2022, 8:04 AM
State Finished
Completed on Wednesday, 19 October 2022, 8:32 AM
Time taken 27 mins 12 secs
Marks 19.00/19.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Which one of the following is not one of the problems associated with GDP?
a. drug smuggling
b. subsistence farming
c. increased labour force
d. negative externalities
Drug smuggling and subsistence farming constitute activities for which processes are not formalized and their contribution to the economy
is not easily quantified
Question 2
Correct
Mark 1.00 out of 1.00
Which one of the following is not a supply factor in economic growth?
a. Labour supply
b. Equipment
c. Exports
d. Technology
Exports are part of the determinants of domestic demand
Downloaded by: hlomu |
Distribution of this document is illegal
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Question 3
Correct
Mark 1.00 out of 1.00
MENU
In 2008, South Africa experienced higher job losses in the mining industry, resulting from insufficient demand for mining commodities. This is
Dashboard
an / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
example of…
a. structural unemployment
b. cyclical unemployment
c. seasonal unemployment
d. frictional unemployment
See the explanations of the potential causes of cyclical unemployment on page 402 in the prescribed textbook.
Question 4
Correct
Mark 1.00 out of 1.00
Which of the following can result in a reduction of unemployment?
a. Reduction in labour intensity of production
b. Increased immigration
c. Increased population growth
d. Increase in demand for exports
e. Decrease in government spending
An increase in the demand for exports will increase aggregated demand, which can increase production, income and therefore also
employment. Option A is incorrect. A reduction in the labour intensity of production implies that production becomes more capital intensive,
implying that less labour will be needed and that unemployment may therefore increase. Options B and C are incorrect since increased
immigration and increased population growth implies more people competing for the same job, and this will therefore not decrease
unemployment. Option E is incorrect because a decrease in government spending might mean that some person in the government sector
lose his jobs, which will increase unemployment. A decrease in government spending may also decrease aggregated demand, and thus
decrease production and income, which will cause an increase in unemployment.
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Question 5
Correct
Mark 1.00 out of 1.00
MENU
Based on the following diagram:
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 6
A complete business cycle by definition will include
a. A-trough, AB-upswing, B-peak, BC-downswing
b. only A-trough and AB-upswing
c. only B-peak and BC-recession
d. only A-trough and B-peak
e. no troughs
Correct.
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