Search & Filtering
What is consumer surplus? How is it related to the demand curve?
What is producer surplus? How is it related to the supply curve?
In an open economy, the depreciation of the rand against the dollar would result in what?
Which of the following variables will not influence the quantity of money that an individual demands?
- A. money stock
- B. the income level
- C. the interest rate level
- D. the price level
If banks experience liquidity shortages, they can borrow from the Reserve Bank through...
Suppose the SARB increases repo rate in an attempt to decrease inflation. As a result, the
In the 2015 budget speech, the Minister of Finance announced an increase in taxes amounting to R17 billion in the 2015/16 financial year. In the context of the circular flow, this increase in taxes will be a(n)
Discuss why governments find it necessary to intervene in their economies through formulation and implementation of agricultural policies
Discuss the interrelations between agricultural and non-agricultural sectors, and state clearly the role of agriculture in economic development
2. You own a small farm near a large city, and you are about to decide whether to work on that small farm or take a job in the city. Your utility depends on your income per day (Y) and on hours of leisure (L). Your daily income from farm work is:
Yf = 20hj - 0.2h2f
where hr is hours of work on the farm, and your daily income from the city job is:
Ye = 1 4hc
where he is hours of work in the city.
a. If you can work either on the farm or in the city, but not both, which sector would you choose?
b. If you can work both on the farm and in the city, how would you allocate your time?
What is the role of government in agricultural research
