ECS1601 Economics IB (ECS1601)

ECS1601 ASSIGNMENT 5 SEMESTER 2 2022 S - The study-notes marketplace Question 1 Which of the following statements is correct? a. Restrictive fiscal and monetary policies are applied during periods of economic growth (boom). b. Fiscal policy entails changes in the interest rate. c. The impact lag is longer for fiscal policy than for monetary policy. d. The decision lag is shorter for fiscal policy than for monetary policy. Refer to section 9.3 of the prescribed textbook. Suppose that...

ECS1601 Study Unit Summaries -2022. 1 ECS1601 LEARNING UNITS 1 PRODUCTION, INCOME AND SPENDING IN A MIXED ECONOMY - REVISION 1.1 Make sure you remember the following from ECS1501:  What economics is all about (refer to section 1.1 of your textbook) Economics is the science of household management, where the household may vary in size from an individual living on his own to the economy of the country or the whole world. The basic essence of economics – there are unlimited wants, wh...

ECS1601 ASIGNMENT 7 2022 INCLUDES OCT/NOV EXAM ECS1601 ASIGNMENT 7 2022 INCLUDES OCT/NOV EXAM

ECS1601 Exam Preparation For 2022 – Past Papers with verified Answers. Households are confronted with unlimited wants, but with limited resources with which to satisfy those wants b) The scarcity of resources necessitate households to make choices - ANS-both a and b are correct Which of the following is/are correct regarding the distinction between macroeconomics and microeconomics? a) The price of apples at the supermarket is an example of a macroeconomic variable. b) An increase in th...

ECS1601 EXAM REVISION PACK SUGGESTED SOLUTION FOR 2016 May/June Question 1 a) Money is anything that is generally accepted as payment for goods and services or that is accepted in settlement of debt. o Money is a generally acceptable means of payment o This is because people believe it will be accepted as payment by other people b) Three broad functions of government. o the allocative function, which refers to the role of government in correcting market failure and achieving a more effi...

ECS1601 LATEST SUMMARY. Study Unit 1 Chapter 3 page 41 Interdependence of the major sectors, markets and flows in a mixed economy 3.1 Production, income and spending The three major flows in the economy as a whole: Production Income Spending Production occurs, creates income; and all or part of the income is spent to buy goods and services. Flows Production, income and spending are all flows. They are measured over a period of time. This period must be specified. These are moving pi...

ECS1601 Assignment 2 Semester 2 2022 ECS1601 Assignment 2 Semester 2 2022

ECS1601 Assignment 3 Semester 1& 2 2021. ECS1601 ASSIGNMENT 3 SEMESTER 1 2021 UNIQUE NUMBER: DISCLAIMER: Extreme care has been used to create this document, however the contents are provided “as is” without any representations or warranties, express or implied. This document is to be used for comparison, research and reference purposes ONLY. Directly submitting and/or reselling/ distribution / reproduction any part of this document is not permitted. PREVIEW OF QUESTION 1 1. 3 Refer...

ECS1601 LATEST EXAM PACK. This is an all-inclusive and a complete guide to ECS1601 - Economics IB ECS1601 - Economics IB

ECS1601 EXAM PACK. This is a complete and an all-inclusive guide to ECS1601 - Economics.