9/14/22, 12:45 PM Assessment 3: Attempt review
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Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
Started on Wednesday, 14 September 2022, 12:19 PM
State Finished
Completed on Wednesday, 14 September 2022, 12:44 PM
Time taken 25 mins 11 secs
Marks 22.00/25.00
Grade 88.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Use the following two statements to answer the question:
(1) Investment spending is a stock variable.
(2) The weekly consumption of beer is a flow variable.
Select one:
a. Only (1) is correct.
b. Both (1) and (2) are incorrect.
c. (1) is incorrect and (2) is correct.
d. Both (1) and (2) are correct.
Refer to box 2-6 in the prescribed textbook.
Question 2
Correct
Mark 1.00 out of 1.00
Which of the following statements is correct?
Select one or more:
a. Natural resources include buildings, machinery and tools.
b. Capital goods are used in the production of other goods.
c. Entrepreneurs are just managers.
Refer to section 1.4 in the prescribed textbook.
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,9/14/22, 12:45 PM Assessment 3: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
MENU
Use the table below to find the total comprehensive measure of money for the year 2013:
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. R636 337 million
b. R549 323 million
c. R87 014 million
d. R2 513 865 million
Refer to section 2.3 of the textbook.
Question 4
Incorrect
Mark 0.00 out of 1.00
A News Website headline reads: “SARB Reduces Repo Rate for Third Time This Year.” This headline indicates that the SARB is most likely
trying to…
a. increase the SARB current market rates.
b. decrease the cost of credit.
c. increase the liquidity deficit of the private banks.
d. decrease inflationary pressures in the economy.
Refer to section 2.8 of the textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=5574642&cmid=213764#question-5682229-24 2/12
,9/14/22, 12:45 PM Assessment 3: Attempt review
Question 5
Correct
Mark 1.00 out of 1.00
MENU
Which of the following statements concerning money is correct?
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. Electronic money is another form of money as it can be used as a means of payments.
b. Credit cards are money because they function as a medium of exchange.
c. Paper money was developed since specialisation between countries led to increases in trade, causing the use of coin to be
inconvenient as this was difficult to handle and not safe to transport.
d. The amount of money in the economy is fixed at a particular level by the central bank.
Refer to Section 2.2 on page 25 of the prescribed textbook.
Question 6
Correct
Mark 1.00 out of 1.00
Which of the following variables will not influence the quantity of money that an individual demands?
a. the interest rate level
b. money stock
c. the income level
d. the price level
Refer to Section 2.5 on page 30 of the prescribed textbook and pages 18-22 in part 2 of the study guide.
Question 7
Correct
Mark 1.00 out of 1.00
Lungelo earns an income of R10 000 a month and pays R1 100 towards income tax, and when her income increases to R12 000 a month, she
now pays R1 200 towards income tax. This in an example of a …
a. progressive tax.
b. flat tax.
c. proportional tax.
d. regressive tax.
Refer to section 3.6 of the textbook.
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, 9/14/22, 12:45 PM Assessment 3: Attempt review
Question 8
Incorrect
Mark 0.00 out of 1.00
MENU
Which of the following statement is correct?
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. The failure of markets to produce efficient outcomes, is called government failure.
b. Government failure arises because bureaucrats put the interest of society first.
c. Government may fail to have efficient outcomes due to corruption.
d. All statements are incorrect.
Refer to section 3.3 of the Study guide.
Question 9
Correct
Mark 1.00 out of 1.00
If the government wishes to stimulate economic activity by using fiscal policy, it should…
a. decrease interest rate.
b. decrease government spending.
c. increase interest rate.
d. decrease taxation.
Refer to section 3.3 of the textbook.
Question 10
Correct
Mark 1.00 out of 1.00
Which of the following could be expected when the government applies a contractionary fiscal policy?
a. an increase in government spending
b. a decrease in the budget deficit
c. a decrease in the tax rate
d. a decrease in the interest rate
Refer to section 3.3 of the textbook.
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MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
Started on Wednesday, 14 September 2022, 12:19 PM
State Finished
Completed on Wednesday, 14 September 2022, 12:44 PM
Time taken 25 mins 11 secs
Marks 22.00/25.00
Grade 88.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Use the following two statements to answer the question:
(1) Investment spending is a stock variable.
(2) The weekly consumption of beer is a flow variable.
Select one:
a. Only (1) is correct.
b. Both (1) and (2) are incorrect.
c. (1) is incorrect and (2) is correct.
d. Both (1) and (2) are correct.
Refer to box 2-6 in the prescribed textbook.
Question 2
Correct
Mark 1.00 out of 1.00
Which of the following statements is correct?
Select one or more:
a. Natural resources include buildings, machinery and tools.
b. Capital goods are used in the production of other goods.
c. Entrepreneurs are just managers.
Refer to section 1.4 in the prescribed textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=5574642&cmid=213764#question-5682229-24 1/12
,9/14/22, 12:45 PM Assessment 3: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
MENU
Use the table below to find the total comprehensive measure of money for the year 2013:
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. R636 337 million
b. R549 323 million
c. R87 014 million
d. R2 513 865 million
Refer to section 2.3 of the textbook.
Question 4
Incorrect
Mark 0.00 out of 1.00
A News Website headline reads: “SARB Reduces Repo Rate for Third Time This Year.” This headline indicates that the SARB is most likely
trying to…
a. increase the SARB current market rates.
b. decrease the cost of credit.
c. increase the liquidity deficit of the private banks.
d. decrease inflationary pressures in the economy.
Refer to section 2.8 of the textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=5574642&cmid=213764#question-5682229-24 2/12
,9/14/22, 12:45 PM Assessment 3: Attempt review
Question 5
Correct
Mark 1.00 out of 1.00
MENU
Which of the following statements concerning money is correct?
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. Electronic money is another form of money as it can be used as a means of payments.
b. Credit cards are money because they function as a medium of exchange.
c. Paper money was developed since specialisation between countries led to increases in trade, causing the use of coin to be
inconvenient as this was difficult to handle and not safe to transport.
d. The amount of money in the economy is fixed at a particular level by the central bank.
Refer to Section 2.2 on page 25 of the prescribed textbook.
Question 6
Correct
Mark 1.00 out of 1.00
Which of the following variables will not influence the quantity of money that an individual demands?
a. the interest rate level
b. money stock
c. the income level
d. the price level
Refer to Section 2.5 on page 30 of the prescribed textbook and pages 18-22 in part 2 of the study guide.
Question 7
Correct
Mark 1.00 out of 1.00
Lungelo earns an income of R10 000 a month and pays R1 100 towards income tax, and when her income increases to R12 000 a month, she
now pays R1 200 towards income tax. This in an example of a …
a. progressive tax.
b. flat tax.
c. proportional tax.
d. regressive tax.
Refer to section 3.6 of the textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=5574642&cmid=213764#question-5682229-24 3/12
, 9/14/22, 12:45 PM Assessment 3: Attempt review
Question 8
Incorrect
Mark 0.00 out of 1.00
MENU
Which of the following statement is correct?
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1601-22-S2 / Online assessments / Assessment 3
a. The failure of markets to produce efficient outcomes, is called government failure.
b. Government failure arises because bureaucrats put the interest of society first.
c. Government may fail to have efficient outcomes due to corruption.
d. All statements are incorrect.
Refer to section 3.3 of the Study guide.
Question 9
Correct
Mark 1.00 out of 1.00
If the government wishes to stimulate economic activity by using fiscal policy, it should…
a. decrease interest rate.
b. decrease government spending.
c. increase interest rate.
d. decrease taxation.
Refer to section 3.3 of the textbook.
Question 10
Correct
Mark 1.00 out of 1.00
Which of the following could be expected when the government applies a contractionary fiscal policy?
a. an increase in government spending
b. a decrease in the budget deficit
c. a decrease in the tax rate
d. a decrease in the interest rate
Refer to section 3.3 of the textbook.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=5574642&cmid=213764#question-5682229-24 4/12
