Introduction to Economics: ECO 123 L/F, Supplementary Examinations November 2024
| dc.contributor.author | Ninana, A. | |
| dc.contributor.author | Mjacu, L. | |
| dc.contributor.author | Ngonisa, P. | |
| dc.contributor.author | Makhetha-Kosi, P. | |
| dc.date.accessioned | 2025-07-02T10:21:06Z | |
| dc.date.available | 2025-07-02T10:21:06Z | |
| dc.date.issued | 2024-11 | |
| dc.description | Introduction to Economics: ECO 123 L/F, Supplementary Examinations November 2024 | |
| dc.description.abstract | This supplementary examination paper for ECO123F/ECO123L, "Introduction to Economics," is a 3-hour assessment worth 100 marks. Students are required to answer all questions from Section A and all questions from Section B. The paper covers various fundamental macroeconomic concepts, including the Keynesian model, aggregate demand, equilibrium income, money and banking, inflation, unemployment, and foreign exchange markets. Section A (multiple-choice questions) tests understanding of concepts such as the impact of government spending on equilibrium income, the equilibrium level of income in a Keynesian model with taxes and marginal propensity to consume, factors affecting aggregate demand, the definition and components of the economically active population, characteristics of the money market, aspects of the stock exchange, the purpose of financial statements, ethical behavior in business, types of business ownership, and the roles of capital and money markets. It also covers the components of the money supply, reasons for holding money, functions of the South African Reserve Bank, types of inflation, the Phillips curve, balance of payments accounts, and different exchange rate systems. Section B requires more detailed answers, applying the Keynesian model. This includes calculating the multiplier, analyzing the impact of autonomous expenditure increases on aggregate demand and equilibrium income, and identifying incorrect statements about the 45-degree line in the Keynesian model. The examination aims to assess students' theoretical knowledge and their ability to apply economic principles to various scenarios. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11837/2955 | |
| dc.language.iso | en_US | |
| dc.publisher | University of Fort Hare | |
| dc.title | Introduction to Economics: ECO 123 L/F, Supplementary Examinations November 2024 | |
| dc.type | Learning Object |