Exam (elaborations) ECS1601 ECS 1601 -
ECONOMICS 1B - 2020 EXAM PACK
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TABLE OF CONTENTS
NOVEMBER 2019 MEMO JUNE 2019 MEMO
NOVEMBER 2018 MEMO JUNE 2018 MEMO
NOVEMBER 2017 MEMO JUNE 2017 MEMO
NOVEMBER 2016 MEMO JUNE 2016 MEMO
NOVEMBER 2015 MEMO JUNE 2015 MEMO
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completeness of any information, facts and/or opinions contained therein.
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Ecs1601
Exam Pack
Updated to 2019
May/June 2019
Section A
Question 1
i. The five economic participants in the circular flow of income and spending:
a. Households
b. Firms
c. Government
d. Foreign Sector
e. Financial Sector
Page 53: Figure 3 – 8
ii. The three criteria for a good tax:
a. Neutrality
b. Equity
c. Administrative Simplicity
Question 2
a. How the equilibrium in the Keynesian model changes if the net exports in the
economy increases.
A A=Y
A2
A1
A2
A1
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45°
0 Y1 Y2 Y
Page 352: Figure 18 - 8
b. A decrease in the interest rate effect on the demand for money as an asset.
i
i0 E0
i1 E1
L
0 M0 M1 M
Page 268: Figure 14 - 2
c. i. Calculation of multiplier:
1 1
M ultiplier = 1−c
= 1−0.5
=2
ii. Calculation of the equilibrium level of income:
Y = A = 2× (250 + 150 + 200) = R1 200
Page 339: Equation 18 – 4
iii. Reasons why people wants to hold money:
a. First reason for holding money is the transactive motive (Page 263),
b. Second reason for holding money is the Speculative motive (Page 264).
Question 3
a. i. Nominal Gross Domestic Product (GDP) in 2015:
N GDP = (1000×2) + (500×10) = R7 000
(Page 240: Box 13 – 2)
ii. Nominal Gross Domestic Product (GDP) in 2016:
N GDP = (1100×3) + (525×8) = R7 500
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ECONOMICS 1B - 2020 EXAM PACK
-QUESTION PAPERS MEMOS TEST BAN
written by
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OVERCOMERS
TUTORIALS
www.overcomerstutorials.co.za
Telephone : 011 972 0177
Watsapp: 060 690 8841
2020
ECS1601 LATEST EXAM PACK
TABLE OF CONTENTS
NOVEMBER 2019 MEMO JUNE 2019 MEMO
NOVEMBER 2018 MEMO JUNE 2018 MEMO
NOVEMBER 2017 MEMO JUNE 2017 MEMO
NOVEMBER 2016 MEMO JUNE 2016 MEMO
NOVEMBER 2015 MEMO JUNE 2015 MEMO
Download Question papers here <https://www.overcomerstutorials.co.za/product-category/unisa-past-
exams/
Disclaimer
The information contained in this document is confidential, privileged and only for the
information of the intended recipient and may not be used, published or redistributed
without the prior written consent of Overcomers Tutorials (Pty) Ltd.
UNISA
The opinions expressed are in good faith and while every care has been taken in preparing
this document, Overcomers makes no representations and gives no warranties of whatever
nature in respect of this document, including but not limited to the accuracy or
completeness of any information, facts and/or opinions contained therein.
Overcomers Tutorials (Pty) Ltd, its subsidiaries, the directors, employees and agents
cannot be held liable for the use of and reliance of the opinions, estimates, forecasts and
findings in this document.
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Distribution of this document is illegal
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Ecs1601
Exam Pack
Updated to 2019
May/June 2019
Section A
Question 1
i. The five economic participants in the circular flow of income and spending:
a. Households
b. Firms
c. Government
d. Foreign Sector
e. Financial Sector
Page 53: Figure 3 – 8
ii. The three criteria for a good tax:
a. Neutrality
b. Equity
c. Administrative Simplicity
Question 2
a. How the equilibrium in the Keynesian model changes if the net exports in the
economy increases.
A A=Y
A2
A1
A2
A1
Downloaded by: smartGRADUATE |
Distribution of this document is illegal
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
45°
0 Y1 Y2 Y
Page 352: Figure 18 - 8
b. A decrease in the interest rate effect on the demand for money as an asset.
i
i0 E0
i1 E1
L
0 M0 M1 M
Page 268: Figure 14 - 2
c. i. Calculation of multiplier:
1 1
M ultiplier = 1−c
= 1−0.5
=2
ii. Calculation of the equilibrium level of income:
Y = A = 2× (250 + 150 + 200) = R1 200
Page 339: Equation 18 – 4
iii. Reasons why people wants to hold money:
a. First reason for holding money is the transactive motive (Page 263),
b. Second reason for holding money is the Speculative motive (Page 264).
Question 3
a. i. Nominal Gross Domestic Product (GDP) in 2015:
N GDP = (1000×2) + (500×10) = R7 000
(Page 240: Box 13 – 2)
ii. Nominal Gross Domestic Product (GDP) in 2016:
N GDP = (1100×3) + (525×8) = R7 500
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Distribution of this document is illegal
