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PUNTE: 50
Instruksies:
Hierdie vraestel bestaan uit 4 vrae op 5 bladsye.
Beantwoord al die vrae.
Lees die vrae noukeurig en skryf asseblief netjies.
Toon al berekeninge aan waar nodig..
Vraag 1
[10 x 2 = 20]
Beantwoord Vraag 1 in u antwoordboek. Skryf die letter van u keuse langs die
vraagnommer (bv. 1.1 A of 1.1 B).
1.1 Watter een van die volgende items sal ondersoek word in die makro-ekonomie?
A. Die vermo van monopolie om hor pryse te hef.
B. Hoe MTN en Vodacom met mekaar meeding vir markaandeel.
C. Die impak van die nasionale begroting op die prysvlak.
D. U besluit om minder van n produk te koop wanneer sy prys styg?
U word voorsien van die volgende inligting om die volgende drie vrae te beantwoord:
Werkende ouderdom bevolking
30 miljoen
10 miljoen
5 miljoen
15 miljoen
Van die 15 miljoen mense wat nie ekonomies aktief is, is 3 miljoen ontmoedige werksoekers.
1.7 Wat is die werkloosheidsyfer in terme van die streng definisie van werkloosheid?
A. 16,7%
B. 33,3%
C. 44,4%
D. 50.0%
1.8 Wat is die werkloosheidsyfer in terme van die uitgebreide definisie van werkloosheid?
A. 16,7%
B. 33,3%
C. 44,4%
D. 50.0%
1.9 Deflasie verwys na:
A. dalende relatiewe pryse.
B. 'n dalende prysvlak.
C. afname in die inflasiekoers.
D. die regering se beleid om begroting surpluse te handhaaf.
1.10 'n Individu wat deeltyds indiens geneem is, maar op soek is na 'n voltydse werk, word
geklassifiseer as:
A. wrywings werkloos.
B. siklies werkloos.
C. struktureel werkloos.
D. indiens geneem.
VRAAG 2
[10]
2.1 Maak gebruik van die inligting in die datatabel hieronder om die vrae wat volg te
beantwoord:
Pryse in
1965
Hoeveelheid
in 1965
Pryse in
1980
Hoeveelheid
in 1980
Ingevoerde stoepmeubels
40
1,000
60
2,000
10
8,000
20
10,000
140
160
2,000
800
4,000
1,200
18,000
20,000
winkel
2.1.1 Bereken die inflasiekoers vir die tydperk 1965- 1980. Toon duidelik al die stappe en
berekeninge.
(10)
VRAAG 3
[12]
3.1 Verduidelik en illustreer, deur gebruik te maak van AD/AS grafieke, die effek van die
volgende gebeure op die algemene prysvlak en die rele uitsette (BBP). Veronderstel dat daar n
'n bedrag van werkloosheid is in elke geval.
3.1.1 Staatsamptenare sal 'n 7% salarisverhoging ontvang nadat die vakbonde en die staat 'n
drie-jaar betaalskikking onderteken het.
(4)
3.1.2 "Internasionale oliepryse het Woensdag tot die laagste vlak in sowat vyf maande verlaag.
(4)
3.1.3 "Groei in beide huishoudelike besteding en private sektor investering was stadiger in die
eerste kwartaal van 2012, volgens syfers van die Reserwebank.
(4)
VRAAG 4
[8]
4.1 'n Land produseer slegs twee produkte: goud en platinum. In 2005 het die land 100 ton goud
teen R50 000 per ton produseer en 60 ton platinum teen R 100 000 per ton. In 2006 het die land
het 90 ton goud teen R60 000 per ton produseer en 80 ton platinum teen R 150 000 per ton.
4.1.1 Bereken die waarde van nominale BBP in 2005.
4.1.2 Bereken die waarde van BBP in 2006 teen konstante 2005 pryse.
4.1.3 Bereken die waarde van BBP teen huidige pryse in 2006.
(2)
(2)
(2)
4
4.1.4 Wanneer u die prestasie van die ekonomie oor tyd vergelyk, moet 'n mens die groeikoers in
die rele of nominale BBP bereken? Gee 'n rede vir u antwoord.
(2)
TOTAAL = 50
EECF62306
UNIVERSITY OF THE FREE STATE
DEPARTMENT OF ECONOMICS
AUGUST 2012
TEST 1
DATE: 14 AUGUST 2012
LECTURERS: MS. C. CAMPHER/ MR. S. GUVURIRO
MODERATOR: MR. N. KEYSER
DURATION: 1 HOUR
MARKS: 50
Instructions:
This paper consists of 4 questions on 5 pages.
Answer all the questions.
Read the questions carefully and please write legibly.
Show all calculations where necessary.
QUESTION 1
[10 x 2 = 20 MARKS]
Answer Question 1 in your answer book. Write the letter of your choice next to the
question number (e.g. 1.1 A or 1.1 B).
1.1 Which of the following items would be investigated in macroeconomics?
A. The ability of monopolies to charge higher prices.
B. How MTN and Vodacom compete for market share.
C. The effect of the national budget on the price level.
D. Your decision to buy less of a good if its price increases.
C. the natural rate of unemployment and the demand for goods and services when the
economy is in long run equilibrium.
D. the general price level and the aggregate quantity of goods and services demanded.
1.4 If we say that GDP = C + I + G + X M, then GDP has been measured using the:
A. expenditure method
B. production method
C. income method
D. value-added method
1.5 In 2005 a countrys nominal GDP was R500 billion. In 2006 the same countrys nominal
GDP was R600 billion. The inflation rate in 2006 was 17%. What is the approximate value
of the countrys real GDP in 2006 (measured in 2005 prices)?
A. R513 billion
B. R498 billion
C. R587 billion
D. R600 billion
You are provided with the following information to answer the next three questions:
Working age population
30 million
10 million
5 million
15 million
Of the 15 million people not economically active, 3 million are discouraged work seekers.
7
1.7 What is the unemployment rate, based on the strict definition of unemployment?
A. 16.7%
B. 33.3%
C. 44.4%
D. 50.0%
1.8 What is the unemployment rate based on the expanded definition of unemployment?
A. 16.7%
B. 33.3%
C. 44.4%
D. 50.0%
1.10 An individual who is employed part time, but is looking for a full-time job, is classified as:
A. frictionally unemployed
B. cyclically unemployed
C. structurally unemployed
D. employed
QUESTION 2
[10]
2.1 Use the information in the following data table to answer the questions that follow:
Prices in
1965
Quantity in
1965
Prices in
1980
Quantity
in 1980
40
1,000
60
2,000
10
8,000
20
10,000
140
160
Salary of Teachers
2,000
800
4,000
1,200
18,000
20,000
2.1.1 Calculate the inflation rate for the period 1965- 1980. Clearly show all steps and
calculations.
(10)
QUESTION 3
[12]
3.1 Explain and illustrate, by making use of AD/AS graphs, the effect of the following situations
on the general price level and the real output (GDP). Assume that there is an amount of
unemployment in each case.
3.1.1 PUBLIC servants will receive a 7% salary increase after trade unions and the state signed
a three-year pay settlement.
(4)
3.1.2 INTERNATIONAL oil prices on Wednesday fell to their lowest level in about five
months.
(4)
3.1.3 GROWTH in household spending and private sector investment both slowed in the first
quarter of 2012, according to figures from the Reserve Bank.
(4)
QUESTION 4
[8]
4.1 A country produces only two products: gold and platinum. In 2005 the country produced 100
tons of gold at R50 000 per ton and 60 tons of platinum at R 100 000 per ton. In 2006 the
country produced 90 tons of gold at R60 000 per ton and 80 tons of platinum at R 150 000 per
ton.
4.1.1 Calculate the value of nominal GDP in 2005.
4.1.2 Calculate the value of GDP in 2006 at constant 2005 prices.
4.1.3 Calculate the value of GDP at current prices in 2006.
(2)
(2)
(2)
4.1.4 When comparing the performance of the economy over time, should one calculate the
growth rate in real or nominal GDP? Give a reason for your answer?
(2)
TOTAL = 50
10