Other Economics Answers

4.18  Which of the following is true regarding sources of economic growth?

[1]     Land allocated to firms for production purposes represents the supply factors. [2]     Workers employed by firms represent the demand factors.

[3]     Goods and services that are consumed domestically represent the supply factors. [4]  Goods that are exported to foreign countries represent the supply factors

4.18  The business cycle shows …

 [1]     phases of economic cycles as the production output of goods and services fluctuates due to policy changes, demand factors and supply factors.

[2]     phases of economic activities as the production of goods only increases or decreases due to changes in aggregate demand.

[3]     patterns of economic fluctuations along the short-term trend.

[4]       patterns of upswings and expansion around the long-term trend

4.18  In 2020 the economy grew by_         in constant terms.

[1] 1,0%

[2] -1,7%

[3] -0,01%

[4] 0,02%

4.18  Which of the following is used to measure economic growth?

 [1]     CPI

[2]     PPI

[3]     real GDP

[4]     unemployment rate

4.18  The annual rate increase in total production or income in the economy is called       . [1]     economic growth

[2]     gross domestic product

[3]     business cycle

[4]     production process

4.18  Unemployment tends to decrease when …

 [1]     total production increases.

[2]     employment decreases.

 [3]   total production decreases.

[4]    price level increases.

4.18  Maria lost her job as a bank teller due to the introduction of automated machines (in the banking sector) used for deposit and withdrawal of money. We should conclude that she is                  unemployed.

[1]     cyclically

[2]     structurally

[3]     seasonally

[4]     frictionally

4.18  The costs of unemployment …

 [1]     can be eliminated completely by the availability of unemployment benefits and other social welfare programmes.

[2]     include loss of confidence and self-esteem.

[3]     in South Africa excludes loss of income and hunger.

[4] affect the individuals who are unemployed only

4.18  A person is considered unemployed, when he/she is …

[1]     a fulltime student.

[2]     not looking for a job because there are no jobs available where he/she stays. [3]     a fulltime stay home dad or mom who looks after the family.

[4]     temporarily laid off.