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WorksheetsEconomics/P1 SECTION A (COMPULSORY)
Total questions: 14
Worksheet time: 7mins
A deliberate action by the government to increase the value of a currency is known as …
A revaluation.
B appreciation.
C devaluation.
D depreciation.
Business cycles that last from 7 to 11 years, caused by changes in net investments, are known as … cycles.
Kuznets
Kondratieff
Jugler
Kitchin
The relationship between the tax rate and the tax revenue for the government is illustrated by the … curve.
A Phillips
B Laffer
C Lorenz
D Indifference
If the value of the marginal propensity to consume (MPC) is 0,6, the value of the marginal propensity to save (MPS) will be …
0,4.
0,75.
1,67.
2,5.
A limit on the quantity of goods and services that can be purchased from other countries is known as import …
A tariff.
B incentive.
C levy.
D quota.
A growth and development strategy that was intended to halve unemployment and poverty by 2014 was known as …
Reconstruction and Development Policy.
Accelerated and Shared Growth Initiative for South Africa.
Growth, Employment and Redistribution Programme.
National Skills Development Strategy.
The government's broad approach to industrialisation is set out in the …
A. Industrial Policy Action Plan.
B. Strategic Integrated Projects.
C. Skills Support Programme.
D. National Industrial Policy Framework.
The increase in the population of cities and towns through the movement of people from rural areas is known as …
immigration.
migration.
urbanisation.
emigration.
Give ONE term for the following description: The withdrawal of money from the circular flow.
Leakage
Injection
Multiplier
Equilibrium
Give ONE term for the following description: A summary of the various indicators of the same type into a single value.
Composite index
Mean value
Standard deviation
Frequency table
Give ONE term for the following description: The exchange rate is determined by market forces with intervention by the central bank.
Managed floating exchange rate
Fixed exchange rate
Currency board arrangement
Free floating exchange rate
Give ONE term for the following description: The increase in the capacity of the economy to produce more goods and services.
Economic growth
Inflation
Recession
Stagflation
Give ONE term for the following description: The processing of natural resources into finished products.
Manufacturing
Mining
Cultivation
Extraction
Give ONE term for the following description: The lowest interest rate charged by commercial banks to their best clients.
Prime rate
Discount rate
Overdraft rate
Penalty rate
