test1.pdf - UNIVERSITY OF THE FREE STATE BLOEMFONTEIN...

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1 UNIVERSITY OF THE FREE STATE: BLOEMFONTEIN CAMPUS EECM3714 INTRODUCTORY MATHEMATICAL ECONOMICS DEPARTMENT OF ECONOMICS TEST 1: ASSESSORS: MODERATOR: MARKS : 50; TIME : 120 MINUTES This test paper consists of 2 questions on 2 pages. A formulae sheet is attached to the back of this paper. This test may count 20% of your module mark. The Afrikaans paper is on the reverse. INSTRUCTIONS 1) Answer all the questions. Number your answers clearly! 2) Write legibly, using only black or blue ink. Do not write in the margins of your answer sheet. 3) Show your work. 4) Where necessary, round final answers to the nearest FOUR decimals (except when this yields unsatisfactory results). a. Use fractions (e.g. 2 3 ) and radicals (e.g. √2 ) for greater accuracy. b. Use scientific notation (e.g . 0.000067 = 6.7 × 10 −5 ) for answers very close to zero. QUESTION 1 [22] 1.1) Consumption, investment, government expenditure and taxes on Kerberos 𝑪 = ??? + ?. ??(𝒚 − 𝑻) − ???? , 𝑰 = ??? + ?. ???𝒚 − ???? , 𝑮 = ??? and 𝑻 = ?. ?𝒚 . Furthermore, money demand and money supply are ? are

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