ECS 1601 Exam Pack

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ECS 1601 Study Notes Relationship between consumption and income Figure 18-2 Autonomous and induced consumption C C=C₁ + cY C₁ 0 Y The shaded area represents autonomous consumption while the remainder of the area under the consumption function represents induced consumption. Autonomous consumption is independent of the level of income, while induced consumption increase as income increases. Autonomous consumption changes as result of a change in one of the non-income determinant...

EXAM QUESTION PAPERS AND SOLUTIONS FOR THE PAST 5 YEARS FROM JUNE 2013 TO NOVEMBER 2018 EXAM SOLUTIONS Downloaded by: Nompilombuyazi | Distribution of this document is illegal S - The study-notes marketplace 1 MEMORANDUM ECS1601 Oct 2018 SECTION A [50 marks] QUESTION 1 (9) 1.1 Name the main instruments of fiscal policy. (3) Government spending√√ Taxation√ (2 marks for first instrument, 1 mark for second instrument) 1.2 Name four main functions of the South African Reser...

ECS 1601 OCTOBER/NOVEMBER 2016 SOLUTIONS. SECTION A COMPULSORY ESSAY QUESTIONS QUESTION 1: 1(a) BRIEFLY EXPLAIN DEMAND MANAGEMENT POLICIES AND HOW THEY CAN BE USED IN THE ECONOMY (3) There are two policies that can be used to manage the demand for goods and services (i) The Fiscal policy (Government): The two main instruments that the government can use to manage the demand for goods and services are government spending the taxes  Expansionary/Stimulatory policy: Increase Government...