UNISA Exam Memo May/June 2010
ECS 1601
1. 2
12. 1
23. 1
34. 2
2. 4
13. 4
24. 3
35. 2
3. 2
14. 3
25. 4
36. 2
4. 2
15. 3
26. 2
37. 2
5. 4
16. 1
27. 2
38. 3
6. 4
17. 2
28. 1
39. 4
7. 3
18. 2
29. 2
40. 3
8. 2
19. 3
30. 3
9. 3
20. 1
31. 4
10. 3
21. 3
32. 2
11. 1
22. 1
33. 3
UNISA Exam Memo Oct/Nov 2010 ECS 1601
1. 4
12. 2
22. 3
33. 1
2. 1
13. 4
23. 3
34. 3
3. 3
14. 4
24. 4
35. 3
4. 1
15. 2
25. 1
36. 1
5. 3
16. 3
26. 2
37. 1
6. 2
17. No
27. 1
38. 3
28. 2
39. 3
40. 2
7. 2
correct
answer!
8. 2
18. 2
29. 1
9. 3
19. 3
30. 3
10. 2
20. 2
31. 2
11. 3
21. 4
32. 4
UNISA Exam Memo May/June 2011
ECS 1601
Section A
1. Theoretical question
2. (i) Draw demand curve rel. inelastic; S shifts upwards – to the left; show greater
burden on consumer
(ii) A-curve swivels upwards; intercept on vertical axis unchanged; show increase in
Y
(iii) As shifts to the left; P and Y
3. (i) 0.7
(ii) A = 30 and Ye = 90
(iii)  = 2 and Ye = 4960
4. (i) X due to stronger rand; D for fruit; D for fruit-pickers; structural
unemployment
(ii) Need constant prices (real GDP) to measure real growth in economy; current
prices (nominal GDP) includes inflation and provides a distorted picture of economic
growth.
(iii) Will increase the size of the  due to less money being spent abroad and more
locally; also increase Y
(iv) decrease in Yd; decrease in multiplier; A-curve becomes flatter; decrease in Ye
(v) AD shifts to the left; Ye decreases ; Pdecreases
(vi) Structural; skills development programmes to adress mismatch between skills
and job requirements.
Section B
1.
4
12. 1
23. 4
34. 4
2.
4
13. 2
24. 1
35. 2
3.
4
14. 4
25. 4
36. 2
4.
2
15. 2
26. 4
37. 3
5.
1
16. 1
27. 2
38. 3
6.
1
17. 2
28. 3
39. 1
7.
1
18. 3
29. 3
40. 4
8.
2
19. 3
30. 4
9.
4
20. 4
31. 1
10. 2
21. 3
32. 2
11. 1
22. 1
33. 3
UNISA Exam Memo Oct/Nov 2011 ECS 1601
Section A
1. Theoretical question
2. (i) D for money shifts to the right leaving i% unchanged; but with an increase in M
(ii) D for $ will decrease – shift to the left; $ depreciates; ZAR appreciates
(iii) Implement contractionary fiscal policy; decrease in G and/or increase in T; AD
will decrease – shift to the left; P decreases and Y decreases. Thus: lower inflation
at the cost of production / Y / employment
3. Multiplier = 2.17
Ye = 3363.5 (3364 rounded)
mY = 336.4
X – Z = 63.6
4. (i) Foreign investment + income from X will increase demand for the Lilangeni
(appreciates)
(ii) Theoretical question
(iii) Monetary transmission mechanism – explain
(iv) Theoretical question
Section B
1. 4
12. 2
23. 2
34. 1
2. 4
13. 3
24. 4
35. 4
3. 2
14. 3
25. 4
36. 4
4. 3
15. 3
26. 3
37. 1
5. 1
16. 4
27. 4
38. 3
6. 2
17. 4
28. 1
39. 2
7. 3
18. 4
29. 3
40. 4
8. 3
19. 3
30. 1
9. 1
20. 1
31. 4
10. 2
21. 3
32. 4
11. 2
22. 1
33. 3