Economics Answers

A possible reason that the demand for petrol is inelastic is because

Explain who would gain or who would lose as a result taken by the South African government.

1. For the following statements, state Agree or Disagree. And provide brief explanations.

a) More than half of the money issues by the government is actually held by people in foreign countries. Australia is hence less than half as wealthy as government statistics indicate’. (1.5 marks)

b) Assets are things of value people own. Liabilities are debts. Hence, a bank will always consider a deposit in the account as an asset and a car loan as liability. (1.5 marks)

c) In 2010 hundreds of thousands of jobs were eliminated from the Australian economy. This means that unemployment rate must have risen. (1.5 marks)

Why monetary and fiscal policy are known as automatic stabilization measures in an economy

Analysis the behaviour of the market for goods and money at the intersection of IS-LM function

how can you compare salaries of different occupation

When choosing shares and investing on the JSE you are making use of which function/s of money?

Which one of the following statements is incorrect?
a) Central government forms part of general government.
b) Provincial government forms part of the public sector.
c) Local government forms part of general government.
d) Public corporations form part of general government

During a recession, cyclical unemployment will ________ and cyclical inflation will ________.
a) decrease; decrease
b) decrease; increase
c) increase; increase
d) increase; decrease

Killtrol® is a patent drug of Clark Pharmaceuticals. As of April 1, 2018, it will go off patent and become a generic drug (everyone can manufacture it). Answer the following questions.
a) What market structure best describes the market structure for Killtrol® while on patent?

b) What market structure best describes the market structure for Killtrol® when it goes off patent?

c) What will happen to the following when Killtrol® goes off patent?

1) The price? Why?

2) Profits at Clark Pharmaceuticals? Why?

3) The output (quantity)?