EECS72407 Test-2-2014.pdf - UNIVERSITEIT VAN DIE VRYSTAAT...

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INSTRUCTIONS // INSTRUKSIES : 1. Write legibly and concisely. // Skryf leesbaar en bondig. 2. Label all graphs clearly. // Verskaf alle grafieke van duidelike byskrifte. 3. Answer all questions // Beantwoord alle vrae. Question 1 [13] 1.1 “…. The aftershocks from last week’s collapse of unsecured lender African Bank have continued to ripple through SA’s financial service sector, with all four major banks downgraded on Tuesday night by Moody’s and placed on review for further cuts. / …. Die naskokke van verlede week se in duie storting van die ongesekuleerde lener Afican Bank het voortgegaan deur die finansiële sektor van SA, met al vier vernaamste banke wat Dinsdag afgegradeer is deur Moody’s en geplaas is onder hersiening vir verdere afgradering. ” Business Day BDlive, 20 August 2014. Indicate the relationship between downgrade in rating of SA financial service sector, capital flows, the financial account and the exchange rate. / Toon die verwantskap tussen ‘n afgradering van SA se finansiële sektor, kapitaalvloeie, die finansiële rekening en die wisselkoers. [3] 1.2 Consider a closed economy that is currently in equilibrium at the natural level of output. Discuss, ceteris paribus, the medium-run effects of the introduction of a minimum wage that is well above that which is currently paid to the average worker. Make use of the wage-price setting relation and AS-AD model. / Veronderstel ‘n geslote ekonomie wat tans in ekwilibrium by die natuurlike vlak van uitset is. Bespreek, ceteris paribus, die
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