1. A depreciation of the Rand will: (a) Increase exports from SA but decrease imports into SA (b) Decrease exports from
Posted: Wed Jul 06, 2022 6:29 pm
1. A depreciation of the Rand will:(a) Increase exports from SA but decrease imports into SA(b) Decrease exports from SA but increase imports into SA(c) Increase both exports from and imports into SA(d) Decrease both exports from and imports into SA
2. _____ will not result in a shift of the demand curve fortea.(a) A change in people’s income(b) The price of tea is reduced(c) A change in tastes(d) An increase in the price of coffee
3. A change in the price of electricity, a necessity, would resultin a _____ Price Elasticity of Demand.(a) Relatively elastic(b) Perfectly elastic(c) Relatively inelastic(d) Unit elasticity
4. _____ does not describe microeconomics.(a) The study of prices of goods and services in differentmarket(b) The study of outputs of goods and services in differentmarkets(c) The study of the economy as a whole(d) Often called price theory
5. Which statement does not describe the free-market system?(a) Resources and business are in private hands(b) The price mechanism divides the resources(c) The individual has choices(d) There is government intervention
6 Which statement is FALSE with regard to a recession?(a) subsidies increase(b) government revenue falls(c) government revenue increases(d) consumption decreases
7. Which of the following measures will tend to remove a BOPdeficit?(a) an increased budget deficit(b) a reduction in the interest rate(c) a tightening of monetary policy(d) a reduction in import tariffs
8. Which term describes the rivalry of all users ofresources?(a) competition(b) opportunity(c) entrepreneurs(d) economic system
9. Which of the following is NOT an indirect tax?(a) Value Added Tax(b) Estate tax(c) Transfer duty(d) Stamp duties
10. In the _____ economic system consumers have no choice.(a) traditional(b) mixed(c) free market(d) command
2. _____ will not result in a shift of the demand curve fortea.(a) A change in people’s income(b) The price of tea is reduced(c) A change in tastes(d) An increase in the price of coffee
3. A change in the price of electricity, a necessity, would resultin a _____ Price Elasticity of Demand.(a) Relatively elastic(b) Perfectly elastic(c) Relatively inelastic(d) Unit elasticity
4. _____ does not describe microeconomics.(a) The study of prices of goods and services in differentmarket(b) The study of outputs of goods and services in differentmarkets(c) The study of the economy as a whole(d) Often called price theory
5. Which statement does not describe the free-market system?(a) Resources and business are in private hands(b) The price mechanism divides the resources(c) The individual has choices(d) There is government intervention
6 Which statement is FALSE with regard to a recession?(a) subsidies increase(b) government revenue falls(c) government revenue increases(d) consumption decreases
7. Which of the following measures will tend to remove a BOPdeficit?(a) an increased budget deficit(b) a reduction in the interest rate(c) a tightening of monetary policy(d) a reduction in import tariffs
8. Which term describes the rivalry of all users ofresources?(a) competition(b) opportunity(c) entrepreneurs(d) economic system
9. Which of the following is NOT an indirect tax?(a) Value Added Tax(b) Estate tax(c) Transfer duty(d) Stamp duties
10. In the _____ economic system consumers have no choice.(a) traditional(b) mixed(c) free market(d) command