Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1.20 South Africa trades in commodities. (4 Marks) a) For political pressure b) Due to its absolute advantage in producing commodities c) Due to its
1.20 South Africa trades in commodities. (4 Marks) a) For political pressure b) Due to its absolute advantage in producing commodities c) Due to its comparative advantage in producing commodities d) To invest in the global economy 1.21 GDP can be calculated by all of the following methods except.. (4 Marks) a) Adding up the spending on goods and services by business, government, households, and foreigners, and subtracting imports b) Adding up the "value added" at every stage of production in the economy c) Adding up all of the receipts of households, government, and business. d) Adding up all income and expenses by consumers and businesses. 1.22 Read the following extract and answer the question that follows "The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemic levels of 7 2 per cent in January 2020. However, the reason behind the dip in unemployment is not the addition of jobs - rather. it was caused by the decline in the number of people looking for jobs. The number of unemployed people fell by [6 600 000] in January 2022, as they stopped looking for jobs. Consequently, they were no longer counted as unemployed." Source: https://www indiatoday in/diu/story/unemployment rate-down-jobs-creation-job-seekers-1915703- 2022-02-21 Accessed: 21/02/22 The unemployment figure presented here is the (4 Marks) a) Seasonal unemployment. b) Narrow definition. c) Expanded definition. d) Real unemployment
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started