Calculators/Sakrekenaars: Yes/Ja

Requirements for this paper/Benodigdhede vir hierdie vraestel: Other resources/Ander hulpmiddels:
Answer scripts/ Multi-choice cards (A5)/
X
Antwoordskrifte: Multikeusekaarte (A5):

Attendance slips (Fill-in paper)/ Multi-choice cards (A4)/

Presensiestrokies (Invulvraestel): Multikeusekaarte (A4):

Scrap paper/ Graph paper/

Rofwerkpapier: Grafiekpapier:

Type of assessment/ Class test Qualification/ BCom

Tipe assessering: Klastoets Kwalifikasie:
Paper/Vraestel 1
Module code/ ECON 122 Duration/ 55 min
Modulekode: Tydsduur: 55 min
Module description/ Inleiding tot makro-ekonomie / Introduction to Max/ 30
Modulebeskrywing: macroeconomics Maks:
Examiner(s)/ Dr A Fourie Date/ 02/08/2019
Eksaminator(e): Datum:
Internal/Interne Dr C Bezuidenhout Time/ 17:15
moderator(s): Me/Ms L Ferreira Tyd:

VRAAG 1 [6] QUESTION 1 [6]

Lees die volgende uittreksel uit Fin 24 en beantwoord die Read the following extract from Fin 24 and answer the
volgende vrae: following questions:

SA BBP daal met 3,2%, grootste daling in 10 jaar
Jun 04 2019 11:37
Jan Cronje, Fin24”
Suid-Afrika se ekonomie het in die eerste drie maande van die
jaar me1t 3,2% afgeneem, het Stats SA gister aangekondig.
“Die afname van 3,2% is die grootste ekonomiese aktiwiteit
sedert die eerste kwartaal van 2009, toe die ekonomie – onder
druk van die wêreldwye finansiële krisis – met 6,1% gedompel
het,” het Stats SA in ʼn nota gesê.
Die rand het met meer as 1% teenoor die dollar op die nuus
geval, om 12:24 teen R14.64 / $ te verhandel. Terwyl ʼn
afname deur ontleders en die SA Reserwebank voorspel is –
wat die depressiewe uitgawes en beleggings in die ekonomie
voorspel het, die swak verbruikersvraag, die negatiewe impak
van laaivergieting en herhalende val in mynbouproduksie – het
die syfer steeds as ʼn skok gekom. Investec se Annabel Bishop
het byvoorbeeld voorspel dat die reële BBP in die eerste
kwartaal met 1,9% sal daal.
Byna alle nywerhede het ingekrimp in vergelyking met die
vierde kwartaal van 2018, het Stats SA aangekondig, met
vervaardiging wat met 8,8% afgeneem het, mynbou met
10,8%, landbou met 13,2% en die elektrisiteit met 6,9%.
Vervoer het met 4,4% gedaal, handel met 3,6% en konstruksie
met 2,2%. Die regering het daarenteen met 1,2% gegroei,
finansies met 1,1%, en persoonlike dienste met 1,1%.
SA GDP falls by 3.2%, biggest drop in 10 years
Jun 04 2019 11:37
Jan Cronje, Fin24”
South Africa’s economy shrank by 3.2% in the first
three months of the year, Stats SA announced on
Tuesday.
“The 3.2% decline is the biggest quarterly fall in
economic activity since the first quarter of 2009, when
the economy – under strain from the global financial
crisis – tumbled by 6.1%,” said Stats SA in a note.
The rand fell by over 1% against the dollar on the
news, to trade at R14.64/$ at 12:24.
While a decrease had been predicted by analysts and
the SA Reserve Bank - who flagged depressed
expenditure and investment in the economy, weak
consumer demand, the negative impact of load
shedding and recurring falls in mining production - the
number still came as a shock. Investec's Annabel
Bishop, for example, had predicted that real GDP was
likely to fall by 1.9% in Q1.
Almost all industries contracted when compared to the
fourth quarter of 2018, Stats SA announced, with
manufacturing falling by 8.8%, mining down 10.8%,
agriculture down 13.2% and electricity shrinking by
6.9%. Transport fell by 4.4%, trade was down 3.6%
and construction declined by 2.2%.
Government, on the other hand, grew by 1.2%,
finance by 1.1% and personal services by 1.1%

ECON 122 1/3

 Die bostaande artikel verwys na reële The article above refers to real GDP.
BBP. Definieer BBP en verduidelik Define GDP and explain additionally
1.1 (3) 1.1 (3)
addisioneel wat bedoel word met reële what is meant with real GDP.
BBP.
BBP is the total value of all final goods and services produced within a countries boarders given a specific
time period. 2 marks
Real GDP is based on a base year, inflation is excluded. Prices of the base year * current prices. 1 mark
Veronderstel dat ekonomiese groei in Suppose economic growth is currently
Suid Afrika tans -0,1% is. Indien die -0.1% in South Africa. If economic
ekonomiese groei in die tweede growth is again negative in the second
1.2 (1) 1.2 (1)
kwartaal weer negatief is, met watter quarter, which economic phenomenon
ekonomiese verskynsel het ons te is apparent?
doen?
Technical recession / Recession 1 mark
Definieer die ekonomiese verskynsel Define the economic phenomenon
1.3 (1) 1.3 (1)
wat in vraag 1.2 voorkom. that occurred in question 1.2.
A period of temporary economic decline during which trade and industrial activity are reduced, generally
identified by a fall in GDP in two successive quarters.
Decrease in GDP growth for 2+ periods (quaterly) 1 mark
Watter makro-ekonomiese doelwit is Which macroeconomic objective is
1.4 (1) 1.4 (1)
ter sprake in die bostaande artikel? evident in the article above?
Economic growth1 mark

VRAAG 2 [7] QUESTION 2 [7]

Beantwoord die volgende vrae:
Suid-Afrika se Gini koeffisiënt is 0.634.
2.1 Verduidelik ongelykheid in Suid-Afrika deur
gebruik te maak van ʼn Lorenz-kromme.
Kum.% Inkome
Answer the following questions:
South Africa’s Gini coefficient is 0.634.
(3) 2.1 Explain inequality in South Africa by (3)
making use of a Lorenz curve.

Kum.% Bevolking

Correct axis 1 mark

Big area 1 mark
45 degree line 1 mark
Oorweeg die volgende grafiek en beantwoord die Consider the following graph and answer the
2.2 2.2
vrae wat volg. questions that follow.

ECON 122 2/3

Wat simboliseer 2.2.1 – 2.2.4?: What do(es) 2.2.1 – 2.2.4 symbolise?:
2.2.1 Punt A;
Trough 1 mark
2.2.2 Punt B;
Peak 1 mark 2.2.1 Point A;
2.2.3 Punt A na B; en 2.2.2 Point B;
(4) (4)
Upswing (opswaai) / expansion (uitbreidend) 1 2.2.3 Point A to B; and
mark 2.2.4 Point B to C
2.2.4 Punt B na C simboliseer?
Downswing (afswaai)/ contraction (inkrimpend)
1 mark

VRAAG 3 [7] QUESTION 3 [7]

Anastasia verkoop katoen aan ʼn plaaslike groothandelaar
(AC-cermans) vir R6 000. Anastasia betaal lone van R700,
huurgeld van R1 000 en rente van R200 op ʼn lening.
AC-cermans gebruik die materiaal om broeke te maak
waar hulle 100 pare teen R100 elk aan Mrs Pricè verkoop.
AC-cermans betaal R900 aan lone, huurgeld van R400 vir
masjinerie en rente van R1 000. Mrs Pricè verkoop al die
broeke en maak ʼn wins van R5 900, maar betaal ook
administratiewe salarisse van R1 100, huur van R600 en
rente van R400 op sy besigheid se bankrekening.
Anastasia sells cotton to a local wholesaler (AC-cermans)
for R6 000. Anastasia pays wages of R700, rent of R1 000
and interest of R200 on a loan. AC-cermans uses the
material to produce 100 pairs of pants, which they sell for
R100 per pair to Mrs Pricè. AC-cermans pays wages of
R900, rental for machinery of R400 and interest of
R1 000. Mrs Pricè sells all the pants and makes a profit of
R5 900, but also pays administrative salaries of R1 100,
rent of R600 and interest of R400 on their business’ bank
account.

Deur gebruik te maak van die gegewe inligting, bereken By making use of the information provided, calculate GDP
BBP (gebruik ʼn tabelformaat) volgens die produksie en (using a table format) according to the production and
inkome-benadering. income method.

Sum of
Agent Buy Sell VA Wages Rent Interest Profit income
Anastasia 0 6000 6000 (1/2) 700 1000 200 4100(1/2) 6000
AC-cermans 6000 10000 4000(1/2) 900 400 1000 1700 (1/2) 4000
Mrs Price 10000 18000(1) 8000(1) 1100 600 400 5900 8000
PM(1) IM(1)
18000(1/2) 18000(1/2)

ECON 122 3/3

ECON 122 4/3
VRAAG 4 [4] QUESTION 4 [4]
Die onderstaande tabel bevat sleutelstatistieke oor die The table below contains key economic statistics of the
Suid-Afrikaanse ekonomie, verskaf deur Statistieke Suid- South African economy provided by Statistics South
Afrika vir 2018. Africa for 2018.

Ekonomiese veranderlike R (rand) Economic variable

BBP @ mark pryse 25250 GDP @ market prices

Invoere 7300 Imports

Uitvoere 5350 Exports

Depresiasie (9% van kapitaal goedere) ? Depreciation (9% of capital goods)

Salarisse verdien deur Suid-Afrikaanse Salaries earned by South African music
4300
musiek-kunstenaars by die Grammys artists performing at the Grammys
Winste verdien deur BMW internasionaal Profits earned by BMW international that
9400
wat handel in Suid-Afrika trades in South Africa
Kapitaalgoedere 8700 Capital goods

(2)
4.1 Bereken nasionale inkome. (2) 4.1 Calculate national income.

= GDP @ MP– depreciation + FI – FP - t + s (1/2)

= 25 250 – ((0.09)(8700)) + 4300 – 9400 - 0 + 0
= 25 250 – 783 + 4300 – 9400 (1/2)
= 19 367 1 mark
4.2 Bereken BBB @ faktorkoste. (2) 4.2 Calculate GDE @ factor cost. (2)
= GDP @ MP + Z – X - t + s (1/2)

= 25 250 + 7300 – 5350- 0 + 0 (1/2)

= 27 200 1 mark

VRAAG 5 [6] QUESTION 5 [6]

Sjina spesialiseer in die produksie van elektroniese China specialises in the production of electronic mobile
mobiele apparate. Die onderstaande tabel toon devices. The table below shows key economic information
ekonomiese inligting met betrekking tot die ekonomie se concerning the economy’s production levels.
produksievlakke.

Voltooi die tabel deur 5.1.1 tot 5.1.4 te Complete the table by calculating 5.1.1 to
5.1 (2) 5.1 (2)
bereken. 5.1.4.
5.2 Bereken die nominale ekonomiese (4) 5.2 Calculate the nominal economic growth (4)
groeikoers vir 2019. rate for 2019.
Totale nominale Totale nominale
2018 2019
waarde in 2018 waarde in 2019
Total nominal Total nominal
P Q P Q
value in 2018 value in 2019

Huawei Watch GT R10 400 5.1.1 R228 800 R13 600 32 5.1.2

Huawei P30 R9 800 17 5.1.3 5.1.4 26 R325 000

ECON 122 5/3

 Totale nominale waarde Totale nominale
2018 2019
in 2018 waarde in 2019

Total nominal value in Total nominal value in

P Q P Q
2018 2019

Huawei
Watch R10 400 22 (1/2) R228 800 R13 600 32 R435 200 (1/2)
GT
Huawei R12 500
R9 800 17 R166 600 (1/2) (1/2) 26 R325 000
P30
R395 400 R760 200

• Economic growth = Nominal GDP 2019 – Nominal GDP 2018 * 100 1 mark
• Nominal GDP 2018
• = 760200-395400 * 1001 mark
• 395400
• = 92,26% 2 mark

OR
• Economic growth = Nominal GDP2019 -1 *1001 mark
• Nominal GDP 2018
• = 760200 -1 *100 1 mark
• 395400
• = 92,26%2 mark

TOTAL/TOTAAL: 30

ECON 122 6/3