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Suppose in an economy there are 1 million employed people, 2 million unemployed people and a total adult population of 6 million people. Answer the following:
a) What is the labor force?
b) What is the unemployment rate?
c) What is the labor force participation rate?
a) What is the labor force?
b) What is the unemployment rate?
c) What is the labor force participation rate?
Suppose 2010 is the base year. what is the GDP deflator for 2010?
Consider a consumer's choice of fish and meat. Use indifference curves to illustrate the income effects and substitution effects of an increase in the price of fish (10 marks).
Demand Qd = 17 - 0.1Pd, Supply = -12 + 0.5Ps.Now suppose that the government establishes a $10 subsidy per each box of tobacco
produced to support domestic producers in the industry against world competitors.
Show how this policy affects the market equilibrium. Calculate the new “consumer
price” and “produce price.”
produced to support domestic producers in the industry against world competitors.
Show how this policy affects the market equilibrium. Calculate the new “consumer
price” and “produce price.”
Educated and trained workers tend to be more productive in any working environment, explain what productivity means
The National Development Plan of 2011 was developed in light of the following nine challenges:
1. Too few people work 2. The quality of school education for black people is poor 3. Infrastructure is poorly located, inadequate and under-maintained 4. Spatial divides hobble inclusive development 5. The economy is unsustainably resource intensive 6. The public health system cannot meet demand or sustain quality 7. Public services are uneven and often of poor quality 8. Corruption levels are high 9. South Africa remains a divided society
1. Too few people work 2. The quality of school education for black people is poor 3. Infrastructure is poorly located, inadequate and under-maintained 4. Spatial divides hobble inclusive development 5. The economy is unsustainably resource intensive 6. The public health system cannot meet demand or sustain quality 7. Public services are uneven and often of poor quality 8. Corruption levels are high 9. South Africa remains a divided society
Economics
Assume the following data for the economy in the United States:
• Inflation is at 4.5% and has been rising for the last 3 years from a low of 1.2%
• Unemployment is at 4.0% and has been falling for the last 6 years from a high of 7.8%
• The GDP is at $15.36 trillion and has been growing at about 3% for the last 7 years.
Answer the following questions using the data above. EXPLAIN ALL YOUR ANSWERS IN DETAIL.
1. What problem is the economy facing?
• Inflation is at 4.5% and has been rising for the last 3 years from a low of 1.2%
• Unemployment is at 4.0% and has been falling for the last 6 years from a high of 7.8%
• The GDP is at $15.36 trillion and has been growing at about 3% for the last 7 years.
Answer the following questions using the data above. EXPLAIN ALL YOUR ANSWERS IN DETAIL.
1. What problem is the economy facing?
What is the purpose of charging depreciation?
Select one:
a. To ensure that funds are available for the eventual replacement of the non-current asset.
b. To reduce the cost of a non-current asset in the statement of financial position.
c. To comply with the prudence concept.
d. To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use.
Select one:
a. To ensure that funds are available for the eventual replacement of the non-current asset.
b. To reduce the cost of a non-current asset in the statement of financial position.
c. To comply with the prudence concept.
d. To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use.
A The rand price of the US dollar increased to R12,02 in March 2015 from R11,53 in February 2015.This means that the South African... rand against the dollar and the dollar.... against the rand
1 appreciated, appreciated
2 appreciated, depreciated
3 depreciated, appreciated
4 depreciated, depreciated
B Which change in the rand dollar foreign exchange market will cause the ZAR (rand) to appreciate and the amount of USD traded daily to increase?
1 a shift of the supply of the USD curve to the left
2 a shift of the supply of the USD curve to the right
3 a shift of the demand for the USD to the left
4 a shift of the demand for the USD to the right
C What type of event must happen for the exchange rate to change from R8:$1 to R9:$1 and the amount of USD traded daily to increase,
1 China starts producing cheaper goods than the United States
2 The gold prices increases
3 More South African visit the United States
4 After a crime wave, American tourists cancel their plans to visit South Africa
1 appreciated, appreciated
2 appreciated, depreciated
3 depreciated, appreciated
4 depreciated, depreciated
B Which change in the rand dollar foreign exchange market will cause the ZAR (rand) to appreciate and the amount of USD traded daily to increase?
1 a shift of the supply of the USD curve to the left
2 a shift of the supply of the USD curve to the right
3 a shift of the demand for the USD to the left
4 a shift of the demand for the USD to the right
C What type of event must happen for the exchange rate to change from R8:$1 to R9:$1 and the amount of USD traded daily to increase,
1 China starts producing cheaper goods than the United States
2 The gold prices increases
3 More South African visit the United States
4 After a crime wave, American tourists cancel their plans to visit South Africa
A Value Added Tax is an example of which type of taxes?
1 general tax, indirect tax and progressive tax
2 selective tax, direct tax and progressive tax
3 selective tax, indirect tax and regressive tax
4 general tax, indirect tax and regressive tax
B What does it mean when there is a surplus on a country’s current account?
1 The value of a country’s assets is more than the value of its liabilities
2 The value of a country’s liabilities is more than the value of its assets
3 The value of a country’s exports is more than the value of of its imports
4 The value of a country’s imports is more than the value of its exports
C In what account in of a country’s balance of payments will the export of diamonds be recorded ?
1the current account
2the financial account
3unrecorded transactions
4a change in gold and foreign reserves
1 general tax, indirect tax and progressive tax
2 selective tax, direct tax and progressive tax
3 selective tax, indirect tax and regressive tax
4 general tax, indirect tax and regressive tax
B What does it mean when there is a surplus on a country’s current account?
1 The value of a country’s assets is more than the value of its liabilities
2 The value of a country’s liabilities is more than the value of its assets
3 The value of a country’s exports is more than the value of of its imports
4 The value of a country’s imports is more than the value of its exports
C In what account in of a country’s balance of payments will the export of diamonds be recorded ?
1the current account
2the financial account
3unrecorded transactions
4a change in gold and foreign reserves
