2. Which of the following statements are correct? a. In macroeconomics we focus on the determination of the demand for and supply of individual goods and the determination of their prices. b. The impact of fiscal and monetary policy on the level of output and income is an important topic in this module. C. If the population in South Africa grows at 5% per year and the economic growth rate is 3% per year, a decline in the real GDP per capita occurs. d. Expansionary monetary policy during a recession is an example of a stabilisation policy. e. An expansionary fiscal policy implies a decrease in government spending and/or an increase in taxation. 1. a, band c 2. b, c and d 3. b, d and e 4. 5. Only b and c b, c and e