1a) If the current generation does not care about the welfare of the next generation, does this necessarily imply that the current generation will always use all supplies of a non-renewable resource?

1b) What is the potential for increased energy efficiency to reduce future energy demands?

Question 2 [10] TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. Write down only the question number and next to the number either “True” or “False”. 2.1. The level or rate of unemployment is a stock concept, that is, it is measured at a particular date. 2.2. The consumer price index (CPI) is an index of the prices of a representative “basket” of consumer goods and services. The CPI thus represents the cost of the “shopping basket” of goods and services of a typical or average South African household. 2.3. A policy in respect of the level and composition of government spending, taxation and borrowing is called fiscal policy. 2.4. When the dollar appreciates (i.e. when the rand depreciates), imports from the United States become more expensive (in rand) in South Africa and South African exports to the United States become cheaper (in dollars) in that country, ceteris paribus. This will tend to dampen imports and stimulate exports (i.e. to improve the balance on the South African current account). 2.5. The way in which changes in the monetary sector are transmitted to the rest of the economy is called the financial transmission mechanism. 2.6. Monetary and fiscal policy (sometimes collectively called supply management) can be expansionary or contractionary. 2.7. Demand-pull inflation occurs when the aggregate supply of goods and services increases while aggregate demand remains unchanged. 2.8. Frictional unemployment (sometimes also called search unemployment) arises because it takes time to find a job or to move from one job to another. 2.9. The Phillips curve was originally regarded as a clear indication that unemployment and inflation could be traded off against each other. In other words, a lower inflation rate could be achieved by trading it off against, or exchanging it, for greater unemployment. 2.10. One complete cycle has four elements: a trough, an upswing or expansion (often called a boom), a peak and a downswing or contraction (often called a recession).

For the following scenarios, determine which curve shifts (AD and/or SRAS and/or LRAS) and in which direction.

(a) A hurricane causes destruction of physical capital along the east coast.

(b) Nominal wages fall

(c) Government spends $2.2 trillion dollars.

What are the human resource issues related to CoronaVirus and how these issues can be mitigated?

Economics (Turkish Economics)

Indicate the main principles of étatism. Also, explain the evolution of the economic policy during the 1923-1930 period

Economics (Turkish Economics)

Explain the targets of the 1st 5 year development plan (1963-1967) and the main principles of the import-substitution industrial strategy. State the economic targets of the 2nd 5 year development plan (1968-1972).?

How do costs vary in response to changes in the quantity of a variable input? In your own words. 250 words

Effects of Fiscal Policy in the Long Run

Suppose that the government suggests cutting both taxes and government purchases by equal amounts. Use the classical model to illustrate graphically what happens to the real interest rate and national saving in response to this balanced-budget change. In addition, state and explain what the long-run effects of this policy would be on private saving (S^p), investment (I), real interest rate (r), and consumption (C).

Explain why the properties of “non-exclusiveness” and “nonrivalry” imply potential market failure. Give examples with respect to some environmental and/or natural resources of your choice.

(Netherlands and Malaysia )

Discuss attempts that have been made by the authorities to reduce budget deficits post - GFC (from 2010 to 2018). Were they successful in their endeavour?

Should companies be encouraged to seek opportunities in developing nations? 75 words or more.

How has the global financial crisis (GFC) affected the budgets of the two countries ( Netherlands and Malaysia )? In your answer consider how the use of fiscal policy during the GFC impacted the budget deficit/surplus. The period of the GFC is 2007 to 2009.

Many reasons for why the United Kingdom voted to leave the European Union have been proposed. A common one is that imports from the EU hurt low-skilled British workers. Suppose that there are two industries, financial services and manufacturing. Further assume that there are two factors of production, low- skilled and high-skilled workers, and that finance is high-skill intensive and manufacturing is low-skill intensive. Further assume that the United Kingdom is abundant in high-skill labour.

Describe also how the relative output of financial services versus manufacturing in the UK changes with Brexit. Explain your answer.

Provide an example of government policy that acts as an automatic stabilizer. For the goal of stabilization policy, what advantage does automatic stabilization have over discretionary changes in government spending?