Other Economics Answers

1-Fill in the blanks in the following statement: The main steps in modeling a cybernetic system are:

a) …. …………………………………….the system

b) Information interpretation and system analysis

c) Creating the model

d) …………………the model

2-What type of interaction between two species models the following ODE system: 

ẋ = 0.2x − 0.002x2 − 0.006xy

ẏ = − 0.0015y + 0.002xy

a) Cooperation with exponential growth for both species; 

b) Predator-prey with exponential growth for both species;

c) Competition with logistic growth for one species and exponential decay for the other one; 

d) Predator-prey with logistic growth for one species and exponential decay for the other one;

1- Which of the following is a synonym for the term “teleologic”?

a) Homeostasis

b) Emergence

c) Evolution

d) Feedback

2- What type of interaction between two species models the following ODE system: 

ẋ = 0.5x − 0.004x² − 0.001xy

ẏ = y(0.4 − 0.001y + 0.002x)

a) Cooperation with exponential growth for both species

b) Predator-prey with exponential growth for both species

c) Competition with logistic growth for both species

d) Predator-prey with logistic growth for both species

3- Which one of the following is not a property of a cybernetic system model A?

a) Symmetry: If A models B, then B models A

b) Reflexivity: A models A

c) Transitivity: If A models B and B models C, then A models C

d) Transferability: If A models Band C models B, then A and C are equivalent

1-Which of the following are the characteristics of a simple system: 

a) Small changes in the parameters do not qualitatively alter the system’s behaviour;

b) Predictability;

c) Feedback loops;

d) Strange loops.

2-Which of the following terms is a keyword in second-order Cybernetics:

a) Recursiveness

b) Self-regulation

c) Reflection

d) Autopoiesis 

3- Which of the following statements are true: 

a) Any point on the IS curve is an equilibria on the goods and services market and a decrease in government expenditures shifts the IS curve to the right.

b) Any point on the IS curve is an equilibria on the money market and a decrease in taxes shifts the IS curve to the right.

c) Any point on the LM curve is an equilibria on the money market and an increase in money supply shifts the LM curve downward.

d) Any point on the IS curve is an equilibria on the goods and services market and an increase in money supply shifts the IS curve to the left.

1- A factory that is producing airplanes which are entirely sold to a national air-transport company can be considered: 

a) An allopoietic system;

b) An autopoietic system;

c) Neither an allopoietic nor an autopoietic system;

d) A complex system.

2- A factory that is producing trains with its supply chains, customers and competitors can be considered: 

a) An allopoietic system;

b) An autopoietic system;

c) Neither an allopoietic nor an autopoietic system

d) Both alopoietic and autopoietic system

3-Considering the following Cauchy problem: Ẋ(t) = 3X(t), X(0) = 1 , which of the following are true: 

a) X(t) = X(0) e³;

b) X(t) = e^3t;

c) X(t) = X(t - 1) e^-3t;

d) X(t) = 3e^-t;

4- Which of the following are the characteristics of a complex system: 

a) Single cause and single effect

b) A small change in the cause implies a small change in the effects;

c) Predictability;

d) Feedback loops.

When Ruben's income increased from R550 000 a year to R560 000 a year, the percentage tax that he had to pay increased from 26,8% to 27% of his total salary. This is an example of the .......... principle tax should comply with.

a. Neutrality

b. Equity

c. Administrative simplicity

d. Ability-to-pay

e. Benefit

Which of the following statements regarding the budget pf the South African government is correct?

a. Less than half of government's non-interest expenditure is financed by tax revenue.

b. Local government is responsible for the largest part of government expenditure.

c. An increase in the government deficit will result in an increase in debt-servicing costs in future.

d. The government's deficit can only be financed by borrowing from foreigners.

Which of the following are examples of public goods?

a. Private security services that provide armed reactions.

b. National defence force.

c. University swimming pool.

d. Clean air.

True/false: A tariff on imported solar panels is an exanple of free trade.

True/false: during periods of high inflation it is best to keep your wealth in the form of money.

True/false: increasing the repo rate in order to ensure price stabilisation in a country forms part of the regulation function of the government.