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This partial fill-in paper contains 14 web pages plus guidelines for the completion of a mark-reading bed sheet. Read the subsequent instructions CAUTIOUSLY before answering the newspaper. The daily news is divided into two sections: Section A and Section B. SECTION A

Individuals must response ALL the questions through this section.

SECTION B

From this section ALL the questions must be answered on the mark-reading sheet which is supplied. Cautiously follow the instructions for the completion of the mark-reading linen. Please make sure that you use the correct unique amount on the mark-reading sheet: In case you are registered for ECS102-8, utilize the unique amount 497757. Should you be registered for REC102-Y, utilize the unique quantity 489493. Otherwise you mark-reading sheet can get lost, you MUST also note down your answers for this section. On the previous page on this paper space is provided for this goal.

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2

ECS1028/REC102Y

October/November 2010

SECTION A [50 MARKS]

Answer Each of the following questions in the hindrances provided.

PROBLEM 1

[9]

(i)

Establish the Low Domestic Merchandise (GDP).

(4)

(ii)

List any two reasons why Low Domestic Item may not be a great indicator of economic activity.

(2)

(iii)

Define ad valorem duty and give an example of an advertising valorem duty.

(3)

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several

ECS1028/REC102Y

October/November 2010

QUESTION 2

(i)

(ii)

[6]

Use the subsequent diagram showing how the sense of balance in the market bourse changes in case the level of income in the economy reduces. Remember to ingredients label your plan.

(3)

In case the number of Usa tourists going to South Africa boosts, iIllustrate within the following picture the impact within the value with the Rand around the South Photography equipment foreign exchange market. Remember to ingredients label your picture.

(3)

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4

ECS1028/REC102Y

October/November 2010

ISSUE 3

[13]

The following information regarding a Keynesian model is given:

Autonomous intake spending

Federal government spending

Expense spending

Export products

Autonomous imports

Marginal tendency to consume

Minor propensity to import

Proportionate tax level

Full job level of income

(i)

(ii)

(iii)

(iv)

R250 mil

R200 million

R180 , 000, 000

R120 million

R50 mil

6/8

1/6

1/3

R1 500 million

Derive the consumption function and express the value of the marginal propensity to consume.

(2)

Assuming our economy is a shut economy, compute the size of the multiplier. (Show all your measurements. )

(2)

Assuming our economy is an open economy, calculate the size of the multiplier. (Show all your calculations. )

(2)

What happens to the size of the multiplier once the economy is exposed.

(1)

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a few

ECS1028/REC102Y

October/November 2010

(v)

Calculate get worse autonomous spending. (Show your calculations. )

(2)

(vi)

Calculate the equilibrium degree of income pertaining to the open up economy. (Show all your measurements. )

(2)

(vii) By simply how much need to exports increase to move the economy to the full employment level of income? (Show all of your calculations. )

QUESTION 5

(i)

In brief discuss why people keep money.

(2)

[22]

(6)

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ECS1028/REC102Y

October/November 2010

6th

(ii)

Provided the following information concerning the production of gold and beef daily in S. africa and Lesotho:

Country

Precious metal (tonnes)

Gound beef (kg)

S. africa

80

60

Lesotho

forty five

120

Explain why Lesotho has a comparitive advantage within the manufacturing of beef.

(iii)

(iv)

(3)

What are the determinants of induced usage in the Keynesian model of a economy with a government sector?

(4)

In short , explain the assumptions with the aggregate require and aggregate supply designs that identify it from your Keynesian unit.

(4)

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7

(v)

Describe the financial transmission mechanism.

ECS1028/REC102Y

October/November 2010

(5)...

08.08.2019

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