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What is the primary goal of protectionism?

Which of the following is a typical tool used in protectionism?

Which of the following is a key argument in favor of free trade?

Which of the following best describes the 'infant industry' argument for protectionism?

Dumping, in the context of international trade, refers to:

What is a likely outcome of a country specializing in the production of goods for which it has a comparative advantage?

Which trade policy involves encouraging local production of goods previously imported?

Which trade agreement or union is South Africa a member of?

How does export promotion contribute to economic growth?

Which of the following differentiates economic development from economic growth?

What is the primary focus of a demandside approach to economic growth?

Which of the following is a supplyside policy for economic growth?

What was the main goal of South Africa's Reconstruction and Development Programme (RDP)?

Which policy aimed at marketled growth, fiscal discipline, and enhanced investor confidence in South Africa?

What does the Human Development Index (HDI) measure?

What is the key aim of the National Industrial Policy Framework (NIPF) in South Africa?

Which of the following best describes the purpose of Industrial Policy Action Plans (IPAP)?

What is the primary goal of establishing Special Economic Zones (SEZs)?

Why is economic diversification a key justification for South Africa’s industrial policies?

Which aspect of South Africa’s industrial strategies aligns with international best practices?

Spatial Development Initiatives (SDIs) primarily target which areas for development?

Which of the following is a critical challenge in South Africa's industrial policies?

What does the Consumer Price Index (CPI) measure?

Which indicator reflects the proportion of the workingage population that is employed?

What does the exchange rate measure in the context of foreign trade?

What does the repo rate primarily influence in the economy?

Which indicator reflects the overall health and longevity of a population?

Why is public spending on education an important social indicator?

What does the urbanization rate indicate about a country's development?

How do investors use economic and social indicators?

The terms of trade is a comparison of:

Assume a closed economy where the marginal propensity to consume (MPC) is 0.75. By how much will the equilibrium output change if the government increases spending by $100 million, taking into account the multiplier effect?

South Africa implements a progressive tax system. How will this impact the Lorenz curve for income distribution, compared to a scenario with no income tax?

Which of the following is NOT a typical argument used to justify protectionism?

Which of the following is a potential drawback of import substitution policies?

In the context of international trade, what does 'dumping' primarily refer to?

What is a key difference between economic growth and economic development?

Which of the following is a primary goal of supplyside policies for economic growth?

Which approach directly aims to boost economic activity through increased consumer spending, especially among lowerincome groups?

Which of the following best describes the primary goal of South Africa's New Growth Path (NGP)?

Which of the following is a key objective of Spatial Development Initiatives (SDIs) in South Africa?

Which of the following factors does the Human Development Index (HDI) take into consideration?

What is the primary function of the Producer Price Index (PPI)?

Which of the following indicators reflects the percentage of the labor force that is actively seeking employment but unable to find it?

What is a major challenge hindering the effectiveness of South Africa's industrial policies?

How does increased government expenditure typically impact the demandside approach to economic growth?

Which strategy would most directly support domestic industries in expanding their reach into international markets?

In the context of economic indicators, what does a country's 'terms of trade' directly reflect?

Which of the following policies is most aligned with promoting sustainability within South Africa's industrial development?

What is the primary intent behind governments implementing protectionist policies?

What critical factor is essential for effectively attracting both domestic and international investment within South Africa's industrial sector?

Which aspect is addressed when South Africa's industrial strategies emphasize inclusivity?

How would decreased 'access to health services' most likely be reflected in social indicators?

What does a high urbanization rate typically suggest about a country's development trends?

What is the primary role of the repo rate as managed by the South African Reserve Bank?

Which aspect of South Africa's industrial policy aligns with international best practices?

Which of the following describes a potential unintended consequence of protectionist trade policies?

If South Africa's export prices increase while its import prices remain constant, what is the likely impact on its terms of trade?

What is a potential long-term implication if South Africa consistently spends less on public education compared to other developing nations?

How might increased public spending on healthcare services immediately impact a country's social indicators?

Which of the following scenarios would most likely lead a country to adopt import substitution policies?

Assume a country is experiencing significant unemployment. Which of the following policy mixes would be most effective at simultaneously addressing both demand and supplyside constraints to stimulate job creation?

Suppose South Africa discovers vast new reserves of a highly demanded mineral, positioning it as a major global supplier. What strategy could MOST effectively balance the potential benefits of increased export revenue with the need for longterm sustainable and diversified economic growth?

How might unforeseen, radical advancements in automation technologies worldwide MOST profoundly challenge South Africa’s current industrial development plans?

Consider two economies, A and B, both initially closed to international trade. Economy A opens its borders and specializes in producing goods for which it has a comparative advantage, exporting the surplus. Economy B, fearing job losses, imposes high tariffs on imports to protect domestic industries. Analyzing their longrun trajectories, what pattern of outcomes is most likely?

Very Hard: Suppose a previously isolated island nation integrates into the global economy. Initially, it exports raw materials and imports finished goods. Economists propose two diverging strategies: (1) aggressively subsidize local industries to rapidly develop a diverse manufacturing sector to compete globally (import substitution), or (2) invest heavily in education and infrastructure to foster innovation and adaptively specialize in niche, highvalueadded sectors where the nation can gain a competitive edge over time. What considerations should MOST guide policymakers in this scenario?

Very Hard: Consider South Africa's commitment to both demandside redistribution and supplyside enhancement amidst global technological disruption and fluctuating commodity prices. Imagine a scenario where rapid automation erodes job opportunities in traditional sectors. A policy is enacted to provide universal basic income (UBI) funded by increased taxes on profits from resource extraction. Critically evaluate the MOST likely systemic consequences of this policy, considering potential feedback loops and unintended effects.

Which action exemplifies a protectionist trade policy?

What is a central argument against protectionist policies?

What is the primary aim of export promotion strategies?

Which of these strategies is characteristic of a demandside approach to economic growth?

Which of the following policies directly focuses on enhancing the skills and productivity of the workforce?

What differentiates the Growth, Employment and Redistribution (GEAR) strategy from the Reconstruction and Development Programme (RDP)?

Which factor does the Human Development Index (HDI) use to determine standard of living?

Which aspect is NOT directly addressed by South Africa's National Industrial Policy Framework (NIPF)?

What is the primary purpose of establishing Special Economic Zones (SEZs) in South Africa?

Which strategy aligns with international best practices in South Africa’s industrial development?

Spatial Development Initiatives (SDIs) primarily focus on which of the following?

Which challenge commonly hinders the effectiveness of South Africa's industrial policies?

What information does the Producer Price Index (PPI) provide?

Which indicator measures the percentage of the labor force actively seeking but unable to find employment?

In international trade, what does the 'exchange rate' measure?

What does the repo rate primarily influence within an economy?

Why is public spending on education considered an important social indicator?

What critical factor is most essential for attracting both domestic and international investment within South Africa's industrial sector?

Which of the following is NOT a typical characteristic of 'free trade'?

What is the main goal of the National Research and Development Strategy (NRDS) in South Africa?

What strategy would BEST support domestic industries in expanding their reach into international markets?

Suppose a country is experiencing significant unemployment. Which of the following policy mixes would be most effective at simultaneously addressing both demand and supplyside constraints to stimulate job creation?

Which scenario would MOST likely lead a country to adopt import substitution policies?

South Africa is committed to both demandside redistribution and supplyside enhancement amidst global technological disruption and fluctuating commodity prices. Imagine a scenario where rapid automation erodes job opportunities in traditional sectors. A policy is enacted to provide universal basic income (UBI) funded by increased taxes on profits from resource extraction. Critically evaluate the MOST likely systemic consequences of this policy, considering potential feedback loops and unintended effects.