1.4 Read the following extract and answer questions 1 .4-1.5. Politics and economics are set to collide over welfare payments in the wodd's most unequal nation? The first clue over which will prevail may come in South African President Cyril W State-OfThe-Natlon address on Thursday. Record unemployment and deepening poverty has fuelled calls for the government to move toward a basic Income grant. which would be the biggest of its kind globally. or to at least extend a temporary stipend of 350 rand ($23} a month paid to the unemployed during the pandemic permanent at that level or slightly higher. That measure added 1 0.3million people to the welfare n et. The theoretical argument in support for a Basic Income Grant. is based in which of the following government objectives? a) Full employment In) Balance of payments stability 0) Redistribution of income d) Economic growth 1.5 Suppose that the South African Economy is in a recession. the policy response in the extract above wouid be inline with which of the following schools of economic thought? a} Keynesian theory b} Classical theorists c) Marxists economics Fl) Monetary economics 1.6 In the Simple Keynesian Macroeconomic Model. which of the following will determine the level of autonomous spending by South African households? I a) The level of economic growth b) The level of risk and or uncertainty c) The level of the interest rate d) Savings and or credit