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Questions and Answers

What is the primary function of the foreign sector in the circular flow model?

  • To inject spending into the economy through public services
  • To facilitate trade activities and manage exports and imports (correct)
  • To provide labor and resources to firms
  • To collect taxes from households

    • What type of market trades consumer goods and services?

  • Factor Market
  • Goods Market (correct)
  • Foreign Exchange Market
  • Financial Market

    • What is the primary role of households in the circular flow model?

  • To utilize labor and resources to produce goods and services
  • To facilitate trade activities and manage exports and imports
  • To collect taxes and inject spending into the economy
  • To provide labor and resources, receiving income used for consumption, savings, and taxes (correct)

    • What is measured by the Gross Domestic Product (GDP)?

    <p>The total economic output at market prices</p> Signup and view all the answers

    What type of flows involve the movement of goods and services?

    <p>Real Flows</p> Signup and view all the answers

    What type of market deals in resources like labor and capital?

    <p>Factor Market</p> Signup and view all the answers

    What is the primary function of the government sector in the circular flow model?

    <p>To collect taxes and inject spending into the economy</p> Signup and view all the answers

    What type of market manages the flow of money, including savings and investments?

    <p>Financial Market</p> Signup and view all the answers

    What does GNI (Gross National Income) account for?

    <p>All income earned by a country's residents, regardless of location</p> Signup and view all the answers

    What is the basic formula for the multiplier in a simple two-sector model?

    <p>k = 1 / (1 - MPC)</p> Signup and view all the answers

    What is the phase of the business cycle marked by an increase in economic activities?

    <p>Expansion</p> Signup and view all the answers

    What is the lowest point of a business cycle?

    <p>Trough</p> Signup and view all the answers

    What is an example of an exogenous factor influencing business cycles?

    <p>Natural disasters</p> Signup and view all the answers

    Which theory proposes that business cycles are driven by external shocks?

    <p>Classical and Neoclassical Theories</p> Signup and view all the answers

    What is the purpose of monetary policy?

    <p>To stabilize economic activity</p> Signup and view all the answers

    What is an example of fiscal policy?

    <p>Increasing government spending during an economic downturn</p> Signup and view all the answers

    What is the highest point of a business cycle?

    <p>Peak</p> Signup and view all the answers

    What is the term for the marginal propensity to consume?

    <p>MPC</p> Signup and view all the answers

    What is the primary objective of the New Economic Paradigm?

    <p>To smooth out the volatility in business cycles and achieve stable growth</p> Signup and view all the answers

    Which of the following is a demand-side policy?

    <p>Reducing income tax rates to boost consumption</p> Signup and view all the answers

    What is the purpose of leading indicators in forecasting business cycles?

    <p>To predict future economic activity by moving ahead of the business cycle</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>To handle national affairs like defense and education</p> Signup and view all the answers

    What is a major problem with public sector provisioning?

    <p>All of the above</p> Signup and view all the answers

    What is a key objective of the public sector?

    <p>To promote economic growth and employment</p> Signup and view all the answers

    What is the purpose of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan for three-year budget periods</p> Signup and view all the answers

    What is a fiscal policy instrument?

    <p>Taxation</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between taxation and economic activity</p> Signup and view all the answers

    What is a goal of economic planning and policymaking?

    <p>To mitigate the adverse effects of downturns and capitalize on periods of growth</p> Signup and view all the answers

    What is the primary goal of government spending?

    <p>To direct spending towards public goods and services that encourage economic growth and stability</p> Signup and view all the answers

    What does the Laffer Curve illustrate?

    <p>The relationship between tax rates and tax revenue</p> Signup and view all the answers

    What is a drawback of administered prices?

    <p>They lead to shortages or surpluses</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Information failure</p> Signup and view all the answers

    What is the primary goal of protectionism?

    <p>To protect local businesses from foreign competition</p> Signup and view all the answers

    What is an argument for free trade?

    <p>It promotes specialization and economies of scale</p> Signup and view all the answers

    What is the infant industry argument?

    <p>A justification for protectionism to protect emerging domestic industries</p> Signup and view all the answers

    What is a goal of South Africa's export promotion policies?

    <p>To encourage local firms to export goods</p> Signup and view all the answers

    What is the purpose of import substitution?

    <p>To encourage local production of goods that were previously imported</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To guide the overall industrial strategy of South Africa</p> Signup and view all the answers

    Which of the following is a justification for South Africa's industrial policies?

    <p>To promote economic diversification</p> Signup and view all the answers

    What is the focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>Enhancing competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of South Africa's Special Economic Zones (SEZs)?

    <p>To offer incentives to attract businesses and stimulate economic activities</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>Inclusivity</p> Signup and view all the answers

    What is the purpose of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>Implementation gaps</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>GDP growth</p> Signup and view all the answers

    What is the purpose of South Africa's Industrial Development Zones (IDZs)?

    <p>To offer incentives like tax breaks and infrastructure support to attract investments</p> Signup and view all the answers

    What is one of the key aspects of South Africa's industrial development policies?

    <p>Promoting regional development</p> Signup and view all the answers

    What is the primary focus of the Reconstruction and Development Programme (RDP) in South Africa?

    <p>Meeting basic needs and developing human resources</p> Signup and view all the answers

    What is the main difference between economic growth and economic development?

    <p>Economic growth focuses on GDP, while economic development focuses on standards of living</p> Signup and view all the answers

    What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>Halving unemployment and poverty</p> Signup and view all the answers

    What is a key feature of the North/South divide?

    <p>A significant disparity in income levels, economic stability, and access to resources</p> Signup and view all the answers

    What is the primary focus of the New Growth Path (NGP) in South Africa?

    <p>Identifying job drivers like infrastructure and agriculture</p> Signup and view all the answers

    What is a key feature of the Demand-side Approach to Economic Growth?

    <p>Increasing government expenditure and redistributing income</p> Signup and view all the answers

    What is the primary goal of the Growth, Employment and Redistribution (GEAR) strategy in South Africa?

    <p>Aims at market-led growth, fiscal and monetary discipline, and enhancing investor confidence</p> Signup and view all the answers

    What is the primary focus of South Africa's industrial policies?

    <p>Promoting economic growth and sustainable development</p> Signup and view all the answers

    What is the primary goal of the Supply-side Approach to Economic Growth?

    <p>Improving the quality of the labor force and managing natural resources</p> Signup and view all the answers

    What is the primary focus of industrial development in South Africa?

    <p>All of the above</p> Signup and view all the answers

    What is measured by the Consumer Price Index (CPI)?

    <p>The average price change of goods and services purchased by households</p> Signup and view all the answers

    What is the Economically Active Population (EAP)?

    <p>All persons available to supply labor for production</p> Signup and view all the answers

    What does the Exchange Rate affect?

    <p>Trade competitiveness and economic growth</p> Signup and view all the answers

    What is the Repo Rate?

    <p>The interest rate at which the central bank lends to commercial banks</p> Signup and view all the answers

    What is a measure of the overall health and longevity of the population?

    <p>Life Expectancy</p> Signup and view all the answers

    What is the primary purpose of these indicators?

    <p>To evaluate the impact of current policies</p> Signup and view all the answers

    What is an example of a Social Indicator?

    <p>Life Expectancy</p> Signup and view all the answers

    What do the indicators allow for?

    <p>All of the above</p> Signup and view all the answers

    What do policymakers use these indicators for?

    <p>To evaluate the impact of current policies</p> Signup and view all the answers

    What is the primary purpose of the circular flow model?

    <p>To illustrate the economic activities among various sectors</p> Signup and view all the answers

    What is the type of market that deals in resources like labor and capital?

    <p>Factor Market</p> Signup and view all the answers

    What is the difference between Real Flows and Money Flows?

    <p>Real Flows involve the movement of goods and services</p> Signup and view all the answers

    What is the term for the total economic output at market prices?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    Which sector of the economy provides labor and resources?

    <p>Households</p> Signup and view all the answers

    What is the term for the economic activities facilitated through various markets?

    <p>Economic Activities</p> Signup and view all the answers

    What is the purpose of the foreign sector in the circular flow model?

    <p>To involve trade activities</p> Signup and view all the answers

    What does the government sector do in the circular flow model?

    <p>Collects taxes and injects spending into the economy</p> Signup and view all the answers

    What is the primary objective of the New Economic Paradigm?

    <p>To smooth out the volatility in business cycles and achieve stable growth</p> Signup and view all the answers

    Which type of policy aims to regulate aggregate demand through fiscal stimuli or monetary adjustments?

    <p>Demand-side policy</p> Signup and view all the answers

    What type of indicator predicts future economic activity?

    <p>Leading indicator</p> Signup and view all the answers

    What is the purpose of the public sector?

    <p>To provide essential public goods and services</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Inefficiency due to lack of clear performance metrics and accountability</p> Signup and view all the answers

    What is the purpose of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan and manage government expenditure over a three-year period</p> Signup and view all the answers

    What is a fiscal policy instrument?

    <p>Taxation</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between taxation and economic growth</p> Signup and view all the answers

    What is the primary goal of economic planning and policymaking?

    <p>To mitigate the adverse effects of downturns and capitalize on periods of growth</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>To handle national affairs such as defense and education</p> Signup and view all the answers

    What is the main difference between the two-sector and three-sector models?

    <p>One includes government and foreign transactions, while the other does not.</p> Signup and view all the answers

    What is the purpose of the multiplier formula?

    <p>To calculate the impact of initial increases in spending on economic output.</p> Signup and view all the answers

    What is the primary characteristic of the contraction phase of a business cycle?

    <p>A decrease in economic indicators such as employment and production.</p> Signup and view all the answers

    What is the primary role of government in Keynesian theory?

    <p>To smooth out business cycles through fiscal and monetary policies.</p> Signup and view all the answers

    What is the purpose of fiscal policy?

    <p>To stimulate economic activity during downturns and curb inflation during booms.</p> Signup and view all the answers

    What is the primary difference between endogenous and exogenous factors influencing business cycles?

    <p>Endogenous factors arise from within the economic system, while exogenous factors arise from outside the system.</p> Signup and view all the answers

    What is the primary focus of Schumpeterian theory?

    <p>The role of technological innovation in causing business cycles.</p> Signup and view all the answers

    What is the purpose of monetary policy?

    <p>To stabilize economic activity through the control of interest rates and the money supply.</p> Signup and view all the answers

    What is the main characteristic of the peak of a business cycle?

    <p>The highest point of economic activity.</p> Signup and view all the answers

    What is the primary role of households in the circular flow model?

    <p>To provide labor and consume goods and services.</p> Signup and view all the answers

    What is the primary goal of government spending in achieving economic growth and stability?

    <p>To direct spending towards public goods and services</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between tax rates and tax revenue</p> Signup and view all the answers

    What is a common tool used to implement protectionism?

    <p>Quotas and subsidies</p> Signup and view all the answers

    What is an argument for free trade?

    <p>Specialization and economic efficiency</p> Signup and view all the answers

    What is the purpose of South Africa's export promotion policies?

    <p>To promote local industries and reduce dependency on imports</p> Signup and view all the answers

    What is a challenge faced by the public sector in South Africa?

    <p>Efficiency and accountability</p> Signup and view all the answers

    What is the primary goal of protectionism?

    <p>To protect local industries and jobs from foreign competition</p> Signup and view all the answers

    What is an example of a drawback of administered prices?

    <p>Shortages or surpluses</p> Signup and view all the answers

    What is the primary goal of import substitution in South Africa?

    <p>To encourage local production of goods that were previously imported</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>To provide public goods and services</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To guide the overall industrial strategy of South Africa</p> Signup and view all the answers

    What is the main focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>Enhancing competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of South Africa's Special Economic Zones (SEZs)?

    <p>To offer incentives to attract businesses and stimulate economic activities</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>Governance and transparency</p> Signup and view all the answers

    What is the purpose of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>Implementation gaps</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>All of the above</p> Signup and view all the answers

    What is the primary goal of South Africa's industrial policies?

    <p>To promote economic growth and development</p> Signup and view all the answers

    What is the focus of South Africa's regional development initiatives?

    <p>Reducing economic disparities between regions</p> Signup and view all the answers

    What is the purpose of South Africa's Industrial Development Zones (IDZs)?

    <p>To offer incentives like tax breaks and infrastructure support to attract investments</p> Signup and view all the answers

    What is the primary focus of the Reconstruction and Development Programme (RDP) in South Africa?

    <p>Meeting basic needs, developing human resources, and building the economy</p> Signup and view all the answers

    What is the main difference between economic growth and economic development?

    <p>Economic growth refers to an increase in real GDP, while economic development includes improvements in standards of living</p> Signup and view all the answers

    Which of the following approaches to economic growth focuses on increasing government expenditure and redistributing income?

    <p>Demand-side approach</p> Signup and view all the answers

    What is the primary goal of the Growth, Employment and Redistribution (GEAR) strategy in South Africa?

    <p>To achieve market-led growth and fiscal discipline</p> Signup and view all the answers

    What is the primary focus of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>To promote economic growth and job creation</p> Signup and view all the answers

    What is the primary goal of South Africa's industrial policies?

    <p>To promote economic growth and sustainable development</p> Signup and view all the answers

    Which of the following is a characteristic of the North/South divide?

    <p>A significant disparity exists between the developed North and the developing South in terms of income levels</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To increase the country's exports and improve its trade balance</p> Signup and view all the answers

    What is the primary goal of import substitution policies?

    <p>To reduce the country's dependence on imports and promote domestic production</p> Signup and view all the answers

    Which of the following is a strategy used to promote economic growth and development in South Africa?

    <p>New Growth Path (NGP)</p> Signup and view all the answers

    What is the function of the Consumer Price Index (CPI)?

    <p>To measure the average price change of goods and services purchased by households</p> Signup and view all the answers

    What is the Economically Active Population (EAP)?

    <p>All persons within the working age group (15-65 years) available to supply labor for production</p> Signup and view all the answers

    What is the purpose of the Exchange Rate?

    <p>To reflect the value of the South African rand against other currencies</p> Signup and view all the answers

    What is the Repo Rate?

    <p>The rate at which the South African Reserve Bank lends money to commercial banks, influencing other interest rates across the economy</p> Signup and view all the answers

    What is the purpose of the Terms of Trade?

    <p>To compare the rate of export prices to import prices</p> Signup and view all the answers

    What is the purpose of M1, M2, and M3?

    <p>To include currency in circulation and different types of bank deposits, reflecting the liquidity available in the economy</p> Signup and view all the answers

    What is the purpose of Population Growth?

    <p>To track changes in population size which impacts demand for goods and services</p> Signup and view all the answers

    What is the purpose of Infant and Under-5 Mortality Rates?

    <p>To track the health environment and effectiveness of healthcare systems</p> Signup and view all the answers

    What is the purpose of Enrolment Rates?

    <p>To track the percentage of eligible children attending schools</p> Signup and view all the answers

    What is the purpose of International Benchmarking?

    <p>To allow for the comparison of South Africa's performance with that of other countries</p> Signup and view all the answers

    What is the primary function of the circular flow model?

    <p>To illustrate the economic activities among various sectors and their interactions through markets</p> Signup and view all the answers

    What is the main component of the goods market in the circular flow model?

    <p>Consumer goods and services</p> Signup and view all the answers

    What is measured by the Gross Domestic Product (GDP) in the circular flow model?

    <p>The total economic output at market prices</p> Signup and view all the answers

    What is the purpose of the financial market in the circular flow model?

    <p>To manage the flow of money, including savings and investments</p> Signup and view all the answers

    What type of flow involves the movement of goods and services in the circular flow model?

    <p>Real Flows</p> Signup and view all the answers

    Which sector injects spending into the economy through public services and infrastructure in the circular flow model?

    <p>Government</p> Signup and view all the answers

    What is the main function of the foreign sector in the circular flow model?

    <p>To facilitate trade activities, where exports add to the economic flow and imports lead to outflows of currency</p> Signup and view all the answers

    What is the main goal of government spending in the public sector?

    <p>To encourage economic growth and stability</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between tax rates and tax revenue</p> Signup and view all the answers

    What is the multiplier effect in the circular flow model?

    <p>The extent to which additional spending can amplify economic activity</p> Signup and view all the answers

    What is protectionism?

    <p>A government action to restrict international trade</p> Signup and view all the answers

    What is the infant industry argument?

    <p>A justification for protecting emerging domestic industries</p> Signup and view all the answers

    What is a drawback of administered prices?

    <p>They lead to shortages or surpluses</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To increase participation in the global market</p> Signup and view all the answers

    What is the primary goal of import substitution?

    <p>To reduce dependency on imports</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Ensuring accountability and transparency</p> Signup and view all the answers

    What is the main difference between Gross National Income (GNI) and Gross Domestic Product (GDP)?

    <p>GNI accounts for income earned by residents, while GDP accounts for income earned within the country.</p> Signup and view all the answers

    What is a key objective of the public sector?

    <p>To provide public goods and services</p> Signup and view all the answers

    What is a benefit of free trade?

    <p>Access to a wider variety of goods and services</p> Signup and view all the answers

    Which of the following is a characteristic of the expansion phase of a business cycle?

    <p>Employment, production, and sales show significant growth.</p> Signup and view all the answers

    What is the purpose of the multiplier formula in a simple two-sector model?

    <p>To explain how initial increases in spending lead to a more significant overall increase in economic output.</p> Signup and view all the answers

    Which of the following theories proposes that business cycles are due to changes in aggregate demand?

    <p>Keynesian theory.</p> Signup and view all the answers

    What is the primary objective of fiscal policy?

    <p>To stabilize economic activity.</p> Signup and view all the answers

    What is the phase of the business cycle that follows the peak?

    <p>Contraction.</p> Signup and view all the answers

    Which of the following is an example of an endogenous factor influencing business cycles?

    <p>Changes in consumer confidence.</p> Signup and view all the answers

    What is the purpose of monetary policy?

    <p>To stabilize economic activity.</p> Signup and view all the answers

    What is the primary focus of the Schumpeterian theory?

    <p>The role of technological innovation in causing business cycles.</p> Signup and view all the answers

    What is the term for the highest point of a business cycle?

    <p>Peak.</p> Signup and view all the answers

    What is the primary goal of the New Economic Paradigm?

    <p>To smooth out the volatility in business cycles</p> Signup and view all the answers

    What is the focus of demand-side policies?

    <p>Regulating aggregate demand</p> Signup and view all the answers

    What is the primary role of supply-side policies?

    <p>Increasing productivity and efficiency</p> Signup and view all the answers

    What type of economic indicator confirms trends that are already in process?

    <p>Lagging indicator</p> Signup and view all the answers

    What is the purpose of extrapolation in forecasting business cycles?

    <p>Predicting future behavior based on historical data and trends</p> Signup and view all the answers

    What is the primary role of the public sector?

    <p>Providing essential services</p> Signup and view all the answers

    What is a major challenge faced by the public sector?

    <p>Inefficiency due to lack of clear performance metrics</p> Signup and view all the answers

    What is the primary objective of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan over a three-year period</p> Signup and view all the answers

    What is the primary goal of taxation as a fiscal policy instrument?

    <p>To manage economic activity</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>Fiscal policy and taxation</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To promote economic growth through industrial activities</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>Governance and Transparency</p> Signup and view all the answers

    What is the primary focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>Enhancing competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of South Africa's Special Economic Zones (SEZs)?

    <p>To offer incentives to attract businesses and stimulate economic activities</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>Gross Domestic Product (GDP) growth</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the key aspects of South Africa's industrial development policies?

    <p>Regional development</p> Signup and view all the answers

    What is the primary goal of South Africa's industrial policies?

    <p>To promote economic growth through industrial activities</p> Signup and view all the answers

    What is one of the justifications for South Africa's industrial policies?

    <p>All of the above</p> Signup and view all the answers

    What is the Producer Price Index (PPI) used to measure?

    <p>The average movement of selling prices from domestic production over time</p> Signup and view all the answers

    What is the Employment Rate?

    <p>The proportion of the labor force that is employed</p> Signup and view all the answers

    What is the Repo Rate?

    <p>The rate at which the South African Reserve Bank lends money to commercial banks</p> Signup and view all the answers

    What is the primary purpose of the Terms of Trade?

    <p>To compare the rate of export prices to import prices</p> Signup and view all the answers

    What is the primary indicator of the health environment and effectiveness of healthcare systems?

    <p>Infant and Under-5 Mortality Rates</p> Signup and view all the answers

    What is the primary purpose of tracking Population Growth?

    <p>To track changes in population size which impacts demand for goods and services</p> Signup and view all the answers

    What is the primary purpose of the Money Supply indicators?

    <p>To measure the liquidity available in the economy</p> Signup and view all the answers

    What is the primary purpose of International Comparisons?

    <p>To compare South Africa's economic performance with that of other countries</p> Signup and view all the answers

    What is the primary use of Economic and Social Indicators?

    <p>To evaluate the impact of current policies</p> Signup and view all the answers

    What is the primary purpose of Urbanisation Rate?

    <p>To indicate the movement of the population towards urban areas</p> Signup and view all the answers

    What is the main difference between economic growth and economic development?

    <p>Economic growth refers to an increase in a country's real GDP or real GDP per capita over time, while economic development refers to the broader concept.</p> Signup and view all the answers

    What is the primary goal of the New Growth Path (NGP) in South Africa?

    <p>To create jobs and identify job drivers like infrastructure and agriculture.</p> Signup and view all the answers

    What is the primary focus of South Africa's Reconstruction and Development Programme (RDP)?

    <p>Meeting basic needs, developing human resources, and building the economy.</p> Signup and view all the answers

    What is the primary objective of South Africa's industrial policies?

    <p>To increase industrial activity, diversify the economy, and enhance regional development.</p> Signup and view all the answers

    What is the main challenge facing South Africa's industrial policies?

    <p>Balancing economic growth with income inequality and poverty.</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To support domestic industries and increase their exports.</p> Signup and view all the answers

    What is the primary focus of South Africa's Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>To target halving unemployment and poverty by improving average economic growth.</p> Signup and view all the answers

    What is the primary objective of South Africa's Growth, Employment, and Redistribution (GEAR) policy?

    <p>To aim at market-led growth, fiscal and monetary discipline, and enhancing investor confidence.</p> Signup and view all the answers

    What is the primary goal of South Africa's Reconstruction and Development Programme (RDP) in relation to human resources?

    <p>To focus on meeting basic needs, developing human resources, and building the economy.</p> Signup and view all the answers

    What is the primary focus of South Africa's industrial development policies in relation to regional development?

    <p>To enhance regional development and reduce regional disparities.</p> Signup and view all the answers

    Which sector in the circular flow model involves trade activities, where exports add to the economic flow and imports lead to outflows of currency?

    <p>Foreign Sector</p> Signup and view all the answers

    What is the term for the total economic output at market prices?

    <p>Gross Domestic Product</p> Signup and view all the answers

    Which market deals in resources like labor and capital?

    <p>Factor Market</p> Signup and view all the answers

    What is the primary function of firms in the circular flow model?

    <p>Utilize labor and resources to produce goods and services</p> Signup and view all the answers

    What represents the financial transactions for goods and services?

    <p>Money Flows</p> Signup and view all the answers

    Which sector in the circular flow model collects taxes and injects spending into the economy through public services and infrastructure?

    <p>Government</p> Signup and view all the answers

    What is the primary function of households in the circular flow model?

    <p>Provide labor and resources, receiving income used for consumption, savings, and taxes</p> Signup and view all the answers

    Which market trades consumer goods and services?

    <p>Goods Market</p> Signup and view all the answers

    What does the Gross National Income (GNI) account for?

    <p>All income earned by a country's residents</p> Signup and view all the answers

    What is the purpose of the multiplier effect?

    <p>To reveal initial increases in spending leading to a more significant overall increase in economic output</p> Signup and view all the answers

    What is the basic formula for the multiplier in a simple two-sector model?

    <p>k = 1 / (1 - MPC)</p> Signup and view all the answers

    What is the phase of the business cycle marked by a decrease in economic activities?

    <p>Contraction</p> Signup and view all the answers

    What is the term for the highest point of a business cycle?

    <p>Peak</p> Signup and view all the answers

    What is the purpose of monetary policy?

    <p>To control inflation and stabilize economic activity</p> Signup and view all the answers

    What is an example of an endogenous factor influencing business cycles?

    <p>Technological innovations</p> Signup and view all the answers

    Which theory proposes that business cycles are driven by changes in aggregate demand?

    <p>Keynesian Theory</p> Signup and view all the answers

    What is the primary role of government spending in times of economic downturn?

    <p>To stimulate demand and pull the economy out of a recession</p> Signup and view all the answers

    What is the term for the marginal propensity to consume?

    <p>MPC</p> Signup and view all the answers

    What is the primary goal of government spending?

    <p>To provide public goods and services that promote economic growth and stability</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between tax rates and tax revenue</p> Signup and view all the answers

    What is a drawback of administered prices?

    <p>They lead to shortages or surpluses</p> Signup and view all the answers

    What is the primary goal of protectionism?

    <p>To protect local businesses and jobs from foreign competition</p> Signup and view all the answers

    What is one of the arguments for free trade?

    <p>It fosters innovation and specialization</p> Signup and view all the answers

    What is the infant industry argument for protectionism?

    <p>To protect emerging domestic industries from foreign competition</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To increase exports</p> Signup and view all the answers

    What is the purpose of import substitution?

    <p>To encourage local production of goods that were previously imported</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>All of the above</p> Signup and view all the answers

    What is the focus of the public sector in South Africa?

    <p>Managing resources</p> Signup and view all the answers

    What is the primary objective of the New Economic Paradigm?

    <p>To smooth out the volatility in business cycles and achieve stable growth</p> Signup and view all the answers

    Which of the following indicators is used to confirm trends that are already in process?

    <p>Lagging Indicators</p> Signup and view all the answers

    What is the primary role of Provincial Governments in the public sector?

    <p>Manage regional issues, funded by both national budget and their own tax revenues</p> Signup and view all the answers

    What is the purpose of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan over a three-year period</p> Signup and view all the answers

    What is a key objective of the public sector?

    <p>To achieve economic equity through progressive taxation and social welfare programs</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Inefficiency due to lack of clear performance metrics and accountability</p> Signup and view all the answers

    What is the purpose of taxation as a fiscal policy instrument?

    <p>To manage economic activity</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>Fiscal policy and taxation</p> Signup and view all the answers

    What is the primary goal of economic planning and policymaking?

    <p>To understand and analyze business cycles for effective economic planning and policymaking</p> Signup and view all the answers

    What is the focus of supply-side policies?

    <p>To focus on increasing productivity and efficiency through technological advancements, regulatory reforms, and incentives for industries</p> Signup and view all the answers

    What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?

    <p>To focus on meeting basic needs, developing human resources, building the economy, democratizing state and society</p> Signup and view all the answers

    What is the main difference between economic growth and economic development?

    <p>Economic growth refers to an increase in a country's real GDP, while economic development refers to improvements in standards of living and income equity</p> Signup and view all the answers

    Which indicator measures the average price change over time of goods and services purchased by households?

    <p>Consumer Price Index (CPI)</p> Signup and view all the answers

    What is the term for the percentage of the labor force that is unemployed but actively seeking employment?

    <p>Unemployment Rate</p> Signup and view all the answers

    What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>To target halving unemployment and poverty by improving average economic growth</p> Signup and view all the answers

    What is the value of the South African rand against other currencies that affects trade competitiveness?

    <p>Exchange Rate</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To promote domestic industries to increase their exports</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To increase industrial activity, diversify the economy, and enhance regional development</p> Signup and view all the answers

    What is the rate at which the South African Reserve Bank lends money to commercial banks, influencing other interest rates across the economy?

    <p>Repo Rate</p> Signup and view all the answers

    What is the primary goal of South Africa's Industrial Development Zones (IDZs)?

    <p>To create industrial hubs that offer incentives and benefits to attract investments</p> Signup and view all the answers

    What is the term for the proportion of the Economically Active Population (EAP) that is employed?

    <p>Employment Rate</p> Signup and view all the answers

    What is the term for the percentage change in the population size over time?

    <p>Population Growth</p> Signup and view all the answers

    What is the primary focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>To promote industrial development, competitiveness, and job creation in the manufacturing sector</p> Signup and view all the answers

    What is the term for the comparison of the rate of export prices to import prices?

    <p>Terms of Trade</p> Signup and view all the answers

    What is the primary goal of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To promote economic growth and development in specific regions</p> Signup and view all the answers

    What is the primary goal of South Africa's Special Economic Zones (SEZs)?

    <p>To create industrial hubs that offer incentives and benefits to attract investments</p> Signup and view all the answers

    What is the term for the various aggregates that include currency in circulation and different types of bank deposits?

    <p>M1, M2, M3</p> Signup and view all the answers

    What is the term for the process of comparing South Africa’s performance with that of other countries to gauge its progress and alignment with global standards?

    <p>International Benchmarking</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>Export promotion</p> Signup and view all the answers

    What is the term for the indicators that allow policymakers to identify areas needing intervention and evaluate the impact of current policies?

    <p>Economic Indicators</p> Signup and view all the answers

    What guides the overall industrial strategy of South Africa?

    <p>National Industrial Policy Framework (NIPF)</p> Signup and view all the answers

    What is one of the justifications for South Africa's industrial policies?

    <p>Economic diversification and job creation</p> Signup and view all the answers

    What is the focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>Enhancing competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of South Africa's Special Economic Zones (SEZs)?

    <p>To attract foreign investment and stimulate economic activities</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>All of the above</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>All of the above</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To promote economic growth and development</p> Signup and view all the answers

    What is the purpose of South Africa's Industrial Development Zones (IDZs)?

    <p>To offer incentives like tax breaks and infrastructure support to attract investments</p> Signup and view all the answers

    What is the primary function of the circular flow model in an open economy?

    <p>To highlight the economic activities among various sectors and their interactions through markets</p> Signup and view all the answers

    Which market facilitates the trading of currencies necessary for international trade?

    <p>Foreign Exchange Market</p> Signup and view all the answers

    What is the term for the total economic output at market prices?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    Which sector involves trade activities, where exports add to the economic flow and imports lead to outflows of currency?

    <p>Foreign Sector</p> Signup and view all the answers

    What type of flows represent the financial transactions for goods and services?

    <p>Money Flows</p> Signup and view all the answers

    Which sector utilizes labor and resources to produce goods and services?

    <p>Firms</p> Signup and view all the answers

    What is the primary function of the government sector in the circular flow model?

    <p>To collect taxes and inject spending into the economy</p> Signup and view all the answers

    What is the name of the market that deals in resources like labor and capital?

    <p>Factor Market</p> Signup and view all the answers

    What is the primary objective of the New Economic Paradigm?

    <p>To achieve stable growth without booms and busts</p> Signup and view all the answers

    Which type of indicator confirms trends that are already in process?

    <p>Lagging indicators</p> Signup and view all the answers

    What is a key objective of the public sector?

    <p>To provide structure and essential services</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan over a three-year period</p> Signup and view all the answers

    What is a fiscal policy instrument?

    <p>Taxation</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between taxation and economic growth</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>To handle national affairs like defense and education</p> Signup and view all the answers

    What is an example of a supply-side policy?

    <p>Regulatory reforms</p> Signup and view all the answers

    What is the main goal of forecasting business cycles?

    <p>To predict future economic activity</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To promote economic diversification</p> Signup and view all the answers

    What is the focus of the Integrated Manufacturing Strategy (IMS)?

    <p>Enhancing competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of Special Economic Zones (SEZs)?

    <p>To promote economic growth through investments</p> Signup and view all the answers

    What is included in the calculation of Gross National Income (GNI)?

    <p>Income earned by a country's residents, including from abroad</p> Signup and view all the answers

    What is the goal of South Africa's industrial policies?

    <p>To promote economic diversification and job creation</p> Signup and view all the answers

    What is the primary purpose of the multiplier effect?

    <p>To reveal how initial increases in spending lead to a more significant overall increase in economic output</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>All of the above</p> Signup and view all the answers

    What is the phase of the business cycle where economic indicators decline?

    <p>Contraction</p> Signup and view all the answers

    What is the purpose of Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>All of the above</p> Signup and view all the answers

    Which theory suggests that business cycles are driven by changes in aggregate demand?

    <p>Keynesian Theory</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>All of the above</p> Signup and view all the answers

    What is the primary tool used in monetary policy to stabilize economic activity?

    <p>Interest rates</p> Signup and view all the answers

    What is the purpose of fiscal policy in times of economic downturn?

    <p>To increase government spending and reduce taxes</p> Signup and view all the answers

    What is the focus of South Africa's National Research and Development Strategy (NRDS)?

    <p>To boost innovation across industries</p> Signup and view all the answers

    What is the purpose of Industrial Development Zones (IDZs)?

    <p>To offer incentives like tax breaks and infrastructure support</p> Signup and view all the answers

    What is the term for the marginal propensity to save?

    <p>MPS</p> Signup and view all the answers

    What is the main focus of the Reconstruction and Development Programme (RDP) in South Africa?

    <p>Meeting basic needs, developing human resources, building the economy, and democratizing state and society</p> Signup and view all the answers

    What is the focus of the three and four-sector models?

    <p>Government and foreign transactions</p> Signup and view all the answers

    What is the primary difference between economic growth and economic development?

    <p>Economic growth refers to an increase in real GDP, while economic development includes improvements in standards of living</p> Signup and view all the answers

    What is the primary objective of understanding business cycles?

    <p>To plan and forecast economic policy, business strategy, and investment decisions</p> Signup and view all the answers

    What is the phase of the business cycle where economic indicators show significant growth?

    <p>Expansion</p> Signup and view all the answers

    What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>Halving unemployment and poverty by improving average economic growth</p> Signup and view all the answers

    What is the focus of South Africa's Industrial Development Zones (IDZs)?

    <p>Creating industrial clusters</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>Supporting domestic industries to increase their exports</p> Signup and view all the answers

    What is the primary goal of import substitution?

    <p>Encouraging the production of goods domestically that would otherwise be imported</p> Signup and view all the answers

    What is the main difference between the North and South in terms of economic stability?

    <p>The North has higher levels of economic stability and access to resources</p> Signup and view all the answers

    What is the focus of South Africa's National Industrial Policy Framework (NIPF)?

    <p>Increasing industrial activity and diversifying the economy</p> Signup and view all the answers

    What is the primary goal of South Africa's Spatial Development Initiatives (SDIs)?

    <p>Enhancing regional development</p> Signup and view all the answers

    What is the primary goal of South Africa's New Growth Path (NGP)?

    <p>Job creation and identifying job drivers</p> Signup and view all the answers

    What is the primary goal of government spending?

    <p>To direct spending towards public goods and services that encourage economic growth and stability</p> Signup and view all the answers

    What does the Laffer Curve illustrate?

    <p>The relationship between tax rates and tax revenue</p> Signup and view all the answers

    What is a drawback of administered prices?

    <p>They can lead to shortages or surpluses</p> Signup and view all the answers

    What is the primary goal of protectionism?

    <p>To protect local businesses and jobs from foreign competition</p> Signup and view all the answers

    What is an argument for free trade?

    <p>It can promote specialization and economies of scale</p> Signup and view all the answers

    What is the infant industry argument?

    <p>Protection of emerging domestic industries that are not yet competitive enough to withstand international competition</p> Signup and view all the answers

    What is the purpose of South Africa's export promotion policies?

    <p>To encourage local firms to export their goods and increase participation in the global market</p> Signup and view all the answers

    What is the purpose of import substitution?

    <p>To encourage local production of goods that were previously imported to strengthen domestic industries and reduce dependency on foreign goods</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Efficiency and accountability</p> Signup and view all the answers

    What is the key objective of the public sector?

    <p>To achieve social and economic objectives</p> Signup and view all the answers

    What does the Consumer Price Index (CPI) measure?

    <p>The average price change over time of goods and services purchased by households</p> Signup and view all the answers

    What is the Economically Active Population (EAP)?

    <p>All persons within the working age group (15-65 years) available to supply labor for production</p> Signup and view all the answers

    What is the Repo Rate?

    <p>The rate at which the South African Reserve Bank lends money to commercial banks</p> Signup and view all the answers

    What does the Terms of Trade compare?

    <p>The rate of export prices to import prices</p> Signup and view all the answers

    What does the M1 aggregate include?

    <p>Currency in circulation and different types of bank deposits</p> Signup and view all the answers

    What is the purpose of demographic indicators like Population Growth?

    <p>To track changes in population size and its impact on demand for goods, services, and infrastructure</p> Signup and view all the answers

    What do Infant and Under-5 Mortality Rates indicate?

    <p>The health environment and effectiveness of healthcare systems</p> Signup and view all the answers

    What is the purpose of social indicators like Enrolment Rates?

    <p>To measure the percentage of eligible children attending schools and its impact on future workforce skills and economic growth</p> Signup and view all the answers

    What is the purpose of international comparisons?

    <p>To gauge South Africa's progress and alignment with global standards, impacting foreign investment and economic policies</p> Signup and view all the answers

    What is the purpose of economic and social indicators in policy formulation?

    <p>To identify areas needing intervention and evaluate the impact of current policies</p> Signup and view all the answers

    What is the primary objective of the New Economic Paradigm?

    <p>To promote sustainable economic growth</p> Signup and view all the answers

    What is the primary focus of the Multiplier Effect?

    <p>Revealing how initial increases in spending lead to a more significant overall increase in economic output</p> Signup and view all the answers

    What is the primary goal of government spending?

    <p>To promote economic growth and stability.</p> Signup and view all the answers

    What is the term for the prices that reflect the actual market value of goods and services?

    <p>Market Prices</p> Signup and view all the answers

    What type of policy focuses on increasing productivity and efficiency?

    <p>Supply-side policy</p> Signup and view all the answers

    What is the purpose of leading indicators in forecasting business cycles?

    <p>To predict future economic activity</p> Signup and view all the answers

    What is the primary function of the firms sector in the circular flow model?

    <p>Utilizing labor and resources to produce goods and services</p> Signup and view all the answers

    What does the Laffer Curve illustrate?

    <p>The relationship between tax rates and tax revenue.</p> Signup and view all the answers

    Which of the following is an endogenous factor influencing business cycles?

    <p>Changes in consumer confidence</p> Signup and view all the answers

    What is a disadvantage of administered prices?

    <p>They can lead to shortages or surpluses.</p> Signup and view all the answers

    What is the primary objective of monetary policy?

    <p>To stabilize economic activity through control of money supply and interest rates</p> Signup and view all the answers

    What is the primary focus of the goods market in the circular flow model?

    <p>Trading consumer goods and services</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>Handling national affairs</p> Signup and view all the answers

    Which theory suggests that business cycles are due to changes in aggregate demand?

    <p>Keynesian Theory</p> Signup and view all the answers

    What is the primary function of the financial market in the circular flow model?

    <p>Managing the flow of money, including savings and investments</p> Signup and view all the answers

    What is the primary goal of protectionism?

    <p>To restrict international trade and protect local industries.</p> Signup and view all the answers

    What is a major problem with public sector provisioning?

    <p>Inefficiency due to lack of clear performance metrics</p> Signup and view all the answers

    What is an argument for free trade?

    <p>It leads to specialization and economic efficiency.</p> Signup and view all the answers

    What is the phase of the business cycle characterized by a decline in economic activity?

    <p>Contraction</p> Signup and view all the answers

    What is the purpose of the Medium-Term Expenditure Framework (MTEF)?

    <p>To plan public sector budgets over a three-year period</p> Signup and view all the answers

    What is the term for the total economic output at market prices?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    What is a fiscal policy instrument?

    <p>Taxation</p> Signup and view all the answers

    What is the infant industry argument?

    <p>Protecting emerging domestic industries from foreign competition.</p> Signup and view all the answers

    What type of flows represent the financial transactions for goods and services in the circular flow model?

    <p>Money Flows</p> Signup and view all the answers

    What is the formula for the multiplier in a simple two-sector model?

    <p>k = 1 / (1 - MPC)</p> Signup and view all the answers

    What is the primary function of the households sector in the circular flow model?

    <p>Providing labor and resources to the economy</p> Signup and view all the answers

    What is the primary role of government in fiscal policy?

    <p>To stabilize economic activity through government spending and taxation</p> Signup and view all the answers

    What is the primary goal of South Africa's export promotion policies?

    <p>To increase participation in the global market.</p> Signup and view all the answers

    What is the Laffer Curve related to?

    <p>The relationship between taxation and economic growth</p> Signup and view all the answers

    What is the term for the lowest point of a business cycle?

    <p>Trough</p> Signup and view all the answers

    What is the primary function of the foreign sector in the circular flow model?

    <p>Involved in trade activities, where exports add to the economic flow</p> Signup and view all the answers

    What is the purpose of import substitution?

    <p>To reduce dependency on imports.</p> Signup and view all the answers

    What is the primary goal of government spending?

    <p>To promote economic growth</p> Signup and view all the answers

    What is the relationship between the multiplier effect and additional spending in the circular flow model?

    <p>The multiplier effect captures the extent to which additional spending can amplify economic activity</p> Signup and view all the answers

    What is the term for the highest point of a business cycle?

    <p>Peak</p> Signup and view all the answers

    What is a challenge faced by the public sector?

    <p>Efficiency and accountability.</p> Signup and view all the answers

    What is the focus of supply-side policies?

    <p>Improving productivity and efficiency</p> Signup and view all the answers

    What is the primary role of the national government in the public sector?

    <p>To provide services that are not suitable for private sector delivery.</p> Signup and view all the answers

    What is the primary focus of South Africa's economic growth and development policies?

    <p>Fostering economic growth and development</p> Signup and view all the answers

    What is the difference between economic growth and economic development?

    <p>Economic growth refers to an increase in GDP, while economic development refers to improvements in standards of living</p> Signup and view all the answers

    What is the primary goal of the Reconstruction and Development Programme (RDP) in South Africa?

    <p>Meeting basic needs</p> Signup and view all the answers

    What is the primary goal of the Growth, Employment and Redistribution (GEAR) strategy in South Africa?

    <p>Aiming at market-led growth, fiscal and monetary discipline, and enhancing investor confidence</p> Signup and view all the answers

    What is the primary goal of the Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>Halving unemployment and poverty by improving average economic growth</p> Signup and view all the answers

    What is the primary focus of the New Growth Path (NGP) in South Africa?

    <p>Job creation and identifying job drivers</p> Signup and view all the answers

    What is the primary goal of South Africa's industrial policies?

    <p>Increasing industrial activity, diversifying the economy, and enhancing regional development</p> Signup and view all the answers

    What is the primary goal of the demand-side approach to economic growth?

    <p>Increasing government expenditure and redistributing income</p> Signup and view all the answers

    What is the primary goal of the supply-side approach to economic growth?

    <p>Improving the quality of the labor force, managing and using natural resources efficiently, and accumulating capital goods</p> Signup and view all the answers

    What is the primary difference between the North and the South in terms of economic development?

    <p>The North is more developed, while the South is less developed</p> Signup and view all the answers

    What is the primary goal of South Africa's National Industrial Policy Framework (NIPF)?

    <p>To guide the overall industrial strategy of South Africa</p> Signup and view all the answers

    What is the focus of South Africa's Integrated Manufacturing Strategy (IMS)?

    <p>To enhance competitiveness in the manufacturing sector</p> Signup and view all the answers

    What is the purpose of South Africa's Special Economic Zones (SEZs)?

    <p>To offer incentives to attract businesses and stimulate economic activities</p> Signup and view all the answers

    What is one of the key elements of South Africa's industrial strategies aligned with international best practices?

    <p>Focusing on sustainable industrial practices</p> Signup and view all the answers

    What is the purpose of South Africa's Spatial Development Initiatives (SDIs)?

    <p>To target underdeveloped areas for infrastructure and industrial development</p> Signup and view all the answers

    What is one of the challenges facing South Africa's industrial policies?

    <p>Implementation gaps</p> Signup and view all the answers

    What is one of the indicators used to evaluate the effectiveness of South Africa's industrial strategies?

    <p>All of the above</p> Signup and view all the answers

    What is the purpose of South Africa's Industrial Development Zones (IDZs)?

    <p>To offer incentives like tax breaks and infrastructure support</p> Signup and view all the answers

    What is one of the key aspects of South Africa's industrial development policies?

    <p>Enhancing regional development</p> Signup and view all the answers

    What is the justification for South Africa's industrial policies?

    <p>All of the above</p> Signup and view all the answers

    What does the Consumer Price Index (CPI) measure?

    <p>The average price change of goods and services purchased by households</p> Signup and view all the answers

    What is the Economically Active Population (EAP)?

    <p>All persons within the working age group (15-65 years) available to supply labor for production</p> Signup and view all the answers

    What is the purpose of the Repo Rate?

    <p>To influence other interest rates across the economy</p> Signup and view all the answers

    What do the M1, M2, and M3 aggregates include?

    <p>Currency in circulation and different types of bank deposits</p> Signup and view all the answers

    What is the Infant Mortality Rate an indicator of?

    <p>The overall health and longevity of the population</p> Signup and view all the answers

    What is the purpose of international comparisons?

    <p>To gauge South Africa's progress and alignment with global standards</p> Signup and view all the answers

    What is the use of economic and social indicators in policy formulation?

    <p>To identify areas needing intervention and evaluate the impact of current policies</p> Signup and view all the answers

    What is the Term of Trade?

    <p>A comparison of the rate of export prices to import prices</p> Signup and view all the answers

    What is the purpose of enrollment rates in education?

    <p>To impact future workforce skills and economic growth</p> Signup and view all the answers

    What is the purpose of access to basic services indicators?

    <p>To evaluate the quality of life and infrastructural development</p> Signup and view all the answers

    Wat is die hoofdoel van die sirkulerende vloei-model?

    <p>Om die interaksie tussen verskillende sektore in 'n geslote ekonomie te illustreer.</p> Signup and view all the answers

    Watter mark gespecialiseer in die verkoop van verbruikersgoedere en dienste?

    <p>Goeie en dienstemark</p> Signup and view all the answers

    Watter sektor verleen arbeid en hulpbronne en ontvang inkomste vir verbruik, spaar en belasting?

    <p>Huishoudings</p> Signup and view all the answers

    Watter metode word gebruik om die totale ekonomiese uitset van 'n land te meet?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    Watter mark bestuur die geldvloei, insluitend spaar en beleggings, via instellings soos banke?

    <p>Finansiële mark</p> Signup and view all the answers

    Watter faktor het 'n invloed op die ekonomie deur verandering in uitgawe?

    <p>Die multiplier-effek</p> Signup and view all the answers

    Watter sektor is verantwoordelik vir die inkomste-injektie in die ekonomie?

    <p>Regering</p> Signup and view all the answers

    Watter twee tipes vloeie is belangrik in die sirkulerende vloei-model?

    <p>Realvloeie en geldvloeie</p> Signup and view all the answers

    Wat verteenwoordig die GNI (Bruto Nasionale Inkomste)?

    <p>Al die inkomste.mdlende deur 'n land se burgers, aangepas vir inkomste ontvang vanaf die buiteland.</p> Signup and view all the answers

    Watter faktor beïnvloed die aanpasbaarheid van die ekonomie?

    <p>Die verandering in die kolektiewe gedrag van verbruikers en sakeonderskeppers.</p> Signup and view all the answers

    Watter teorie stel dat besigheidssiklusse deur kolektiewe gedrag van verbruikers en sakeonderskeppers veroorsaak word?

    <p>Keynesiaanse teorie.</p> Signup and view all the answers

    Wat is die doel van die monetêre beleid?

    <p>Om die ekonomiese aktiwiteit te stabiliseer.</p> Signup and view all the answers

    Wat is die formule vir die vermenigvuldiger in 'n eenvoudige twee-sektor-model?

    <p>k = 1 / (1 - MPC)</p> Signup and view all the answers

    Watter fase van die besigheidssiklus word gekenmerk deur 'n toename in ekonomiese aktiwiteit?

    <p>Uitbreiding.</p> Signup and view all the answers

    Watter faktor kan 'n besigheidssiklus beïnvloed?

    <p>Die natuurrampe.</p> Signup and view all the answers

    Wat is die doel van die fiskale beleid?

    <p>Om die ekonomiese aktiwiteit te stabiliseer.</p> Signup and view all the answers

    Watter is 'n voorbeeld van 'n eksogene faktor wat 'n besigheidssiklus beïnvloed?

    <p>Natuurrampe.</p> Signup and view all the answers

    Wat is die hoogste punt van die besigheidssiklus?

    <p>Die piek.</p> Signup and view all the answers

    Wat is die doel van die Suid-Afrikaanse Industriële Ontwikkelingsbeleid?

    <p>Om die industriële aktiwiteit te verhoog en die ekonomie te diversifiseer</p> Signup and view all the answers

    Watter benadering tot ekonomiese groei fokus op die verbetering van die kwaliteit van die arbeidsmag?

    <p>Aanbod-kant benadering</p> Signup and view all the answers

    Wat is die doel van die Reconstruction and Development Programme (RDP) in Suid-Afrika?

    <p>Om die basiese behoeftes van die bevolking te vervul</p> Signup and view all the answers

    Wat is die hoofdoel van die Growth, Employment and Redistribution (GEAR) beleid?

    <p>Om die markgeleide groei te bevorder</p> Signup and view all the answers

    Watter een van die volgende is 'n voorbeeld van 'n aanbod-kant benadering tot ekonomiese groei?

    <p>Verbeterring van die kwaliteit van die arbeidsmag</p> Signup and view all the answers

    Wat is die hoofdoel van die New Growth Path (NGP) in Suid-Afrika?

    <p>Om die werksgeleentheid te skep</p> Signup and view all the answers

    Wat is die hoofdoel van die Accelerated and Shared Growth Initiative of South Africa (Asgi-SA)?

    <p>Om die helfte van die armoede en werkloosheid te verminder</p> Signup and view all the answers

    Watter een van die volgende is 'n kenmerk van die Suid-Afrikaanse ekonomiese groei en ontwikkeling?

    <p>Die bevordering van die menslike hulpbronne</p> Signup and view all the answers

    Wat is die hoofdoel van die South African Customs Union (SACU)?

    <p>Om die handel tussen lande te bevorder</p> Signup and view all the answers

    Wat is die verskil tussen ekonomiese groei en ekonomiese ontwikkeling?

    <p>Ekonomiese groei verwys na die verhoging van die BBP, terwyl ekonomiese ontwikkeling verwys na die verhoging van die lewensstandaard</p> Signup and view all the answers

    Watter indeks meet die gemiddelde prysverandering oor tyd van goedere en dienste wat deur huishoudings gekoop word?

    <p>Verbruikersprysindeks (CPI)</p> Signup and view all the answers

    Watter is die doel van die repo-koers?

    <p>Om die rentekoers te beheer</p> Signup and view all the answers

    Watter is 'n voorbeeld van 'n sosiale indikator?

    <p>Bevolkingsgroei</p> Signup and view all the answers

    Watter is die doel van die ekonomie se sosiale indikatore?

    <p>Om die welvaart van die bevolking te evalueer</p> Signup and view all the answers

    Watter is 'n voorbeeld van 'n ekonomiese indikator?

    <p>Inflasiekoers</p> Signup and view all the answers

    Watter is die doel van die wisselkoers?

    <p>Om die handelkompetensie te beïnvloed</p> Signup and view all the answers

    Watter is die doel van die M1, M2, M3?

    <p>Om die likiditeit in die ekonomie te meet</p> Signup and view all the answers

    Watter is die doel van die ekonomie se indikatore?

    <p>Om beleid te formuleer en die effektiwiteit van beleid te evalueer</p> Signup and view all the answers

    Watter is die doel van internasionale vergelykings?

    <p>Om Suid-Afrika se prestasie met andere lande te vergelyk</p> Signup and view all the answers

    Watter is die doel van die geldvoorsiening?

    <p>Om die likiditeit in die ekonomie te verhoog</p> Signup and view all the answers

    Watter doelwit van die Nuwe Ekonomiese Paradigma?

    <p>Om die vlugtheid in besigheidsiklusse te vermy</p> Signup and view all the answers

    Watter begrip word gebruik om die toestand van die ekonomie te beskryf?

    <p>GDP</p> Signup and view all the answers

    Watter tipe beleid word gebruik om die ekonomie te stabiliseer?

    <p>Fiskale beleid</p> Signup and view all the answers

    Watter is 'n voorbeeld van 'n loodende indikator?

    <p>Aandelepryse</p> Signup and view all the answers

    Watter is die hoofdoel van die openbare sektor?

    <p>Om dienste te verskaf</p> Signup and view all the answers

    Watter is 'n probleem met die openbare sektor se berekening?

    <p>Onvermoë om behoeftes te assesseer</p> Signup and view all the answers

    Watter is die hoofdoel van die Medium-Term Expenditure Framework (MTEF)?

    <p>Om die begroting oor 'n drie-jaar periode te beplan</p> Signup and view all the answers

    Watter is 'n fiscale beleidsinstrument?

    <p>Belasting</p> Signup and view all the answers

    Watter is die Laffer-Kurwe verwant aan?

    <p>Belasting</p> Signup and view all the answers

    Watter is die hoofdoel van ekonomiese beplanning en beleidmaak?

    <p>Om 'n stabiele ekonomie te creeer</p> Signup and view all the answers

    Wat is die hoofdoel van regeringsbesteding?

    <p>Om openbare goedere en dienste te verskaf</p> Signup and view all the answers

    Waarvoor word die Laffer-kurwe gebruik?

    <p>Om die verhouding tussen belastingtariewe en belastinginkomste te illustreer</p> Signup and view all the answers

    Watter is een van die redes vir die mislukking van die openbare sektor?

    <p>Oormatige burokrasie</p> Signup and view all the answers

    Watter is een van die voordele van vrye handel?

    <p>Specialisering</p> Signup and view all the answers

    Watter is die doel van Suid-Afrika se uitvoerbevorderingbeleid?

    <p>Om uitvoer van plaaslike goedere te verhoog</p> Signup and view all the answers

    Watter is een van die argumente vir proteksionisme?

    <p>Al die bogenoemde</p> Signup and view all the answers

    Watter is een van die uitdagings wat die openbare sektor in die gesig staar?

    <p>Oormatige burokrasie</p> Signup and view all the answers

    Watter is die hoofdoel van die publieke sektor in Suid-Afrika?

    <p>Om openbare goedere en dienste te verskaf</p> Signup and view all the answers

    Watter is een van die voordele van subsidies?

    <p>Om lokale industrieë te beskerm</p> Signup and view all the answers

    Watter is die doel van Suid-Afrika se invoerbevorderingbeleid?

    <p>Om invoer van plaaslike goedere te verhoog</p> Signup and view all the answers

    Watter is die hoofdoel van Suid-Afrika se Nasionale Industriële Beleidsraamwerk (NIPF)?

    <p>Om die nasionale ekonomie te diversifiseer</p> Signup and view all the answers

    Wat is die hoofdoel van Suid-Afrika se Industrial Policy Action Plans (IPAP)?

    <p>Om spesifieke aksies uit te voer om die NIPF te implementeer</p> Signup and view all the answers

    Watter is een van die redes vir Suid-Afrika se industriele beleide?

    <p>Om die werkloosheid te verminder</p> Signup and view all the answers

    Watter is die fokus van Suid-Afrika se Geïntegreerde Vervaardigingsstrategie (IMS)?

    <p>Om die vervaardigingsproses te verbeter</p> Signup and view all the answers

    Watter is die doel van Suid-Afrika se Spesiale Ekonomiese Sones (SEZs)?

    <p>Om die ekonomiese aktiwiteite te stimuleer</p> Signup and view all the answers

    Watter is een van die uitdagings wat Suid-Afrika se industriele beleide in die gesig staar?

    <p>Om die implementeringsgap te oorbrug</p> Signup and view all the answers

    Watter is een van die elemente van Suid-Afrika se industriele strategieë wat met internasionale beste praktyke verwant is?

    <p>Om die duurzaamheid van industriele praktyke te verbeter</p> Signup and view all the answers

    Watter is die doel van Suid-Afrika se Ruimtelike Ontwikkelingsiniciatiewe (SDIs)?

    <p>Om die onderontwikkelde gebiede te ontwikkel</p> Signup and view all the answers

    Watter is een van die indikatore wat gebruik word om die effektiwiteit van Suid-Afrika se industriele strategieë te evalueer?

    <p>Om die ekonomiese groei te meet</p> Signup and view all the answers

    Watter is die fokus van Suid-Afrika se Nasionale Navorsing- en Ontwikkelingsstrategie (NRDS)?

    <p>Om die innovasie te verhoog</p> Signup and view all the answers

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