$6\mathrm{.}2$ SUMMATIVE ASSESSMENT

Knowledge Questions

Please answer the following knowledge questions related to the Unit Standard Embedded Knowledge and Assessment Criteria and place your answers in your Portfolio of Evidence. Remember to number the answers according to the question numbers if should you need to attach additional pages.

Knowledge Questions

Complete the following questions individually: Unit Standard Reference

$1.$ Indicate whether the following statements are true or false. Motivate your answers US$242905-$ SO$1$ AC$1$; SO$2$ AC$1-4$

US$242910$ SO$1$ AC$1$; SO$3$ AC$5$

a$.$ If a person is not a South African citizen, but is a permanent resident, he or she can work for the government

$(3)$

b$.$ Two people apply for the same job. One is a black woman and the other a white man. According to the BBBEE Act, if they have the same qualifications, the job should go to the black woman.

$(3)$

c$.$ If someone is disabled, he is automatically disqualified from a position in the public service.

$(3)$

d$.$ Every employee has the right to participate in forming a trade union or federation.

$(3)$

e$.$ Every employee has the right to join a trade union subject to its constitution.

$(3)$

f$.$ If a job seeker has been a union member, he or she is not protected from victimisation.

$(3)$

g$.$ Employers' organisations do not have a right to determine their own rules.

$(3)$

h$.$ If a dispute occurs, only the employee has the right to refer the dispute to the CCMA.

$(3)$

i$.$ If the dispute taken to the CCMA is about whether the trade union is a registered trade union, the commissioner may make any necessary inquiries.

$(3)$

j$.$ If the dispute taken to the CCMA is about whether the trade union is a registered trade union, the commissioner must maximise the use of resources by providing organisational rights to more than one registered trade union.

$(3)$

k$.$ The CCMA's statutory functions include establishing picketing rules.

$(3)$

l$.$ The CCMA does not deal with the establishment of workplace forums and statutory councils.

$(3)$

m$.$ The CCMA is responsible for publishing guidelines on any aspect of the Labour Relations Act.

$(3)$

n$.$ The demand curve for loanable funds is downward sloping, indicating that at lower interest rates borrowers will demand more funds for investments.

$(3)$

o$.$ The supply curve for loanable funds is upward sloping, indicating that at higher interest lenders are willing to lend more funds to investors.

$(3)$

p$.$ Other things remaining the same, the lower the real interest rate, the greater is the amount of consumption expenditure and the smaller is the amount of saving?

$(3)$

q$.$ Other things remaining the same, the lower the real interest rate, the greater is the amount of investment?

$(3)$

r$.$ Other things remaining the same, the lower the interest rate, the weaker is the exchange rate and the greater are exports and the smaller are imports?

$(3)$

s$.$ So eventually a cut in the repo rate increases aggregate expenditure and a rise in the repo rate restrains aggregate expenditure?

$(3)$

t$.$ So these changes in aggregate planned expenditure change aggregate demand, real GDP$,$ and the price level?

$(3)$

$2.$ What are the functions of the money market?

$(4)$ US$242910$ SO$2$ AC$4$

$3.$ What is the principle of $$saving$$ as per an economist?

$(2)$ US$242910$ SO$4$ AC$5$

$4.$ What factors cause investment to fluctuate? Provide examples to demonstrate your understanding.

$(4)$ US$242910$ SO$4$ AC$5$

$5.$ Discuss the commonalities and differences between fiscal policy and monetary policy in South Africa.

$(6)$ US$242910$ SO$4$ AC$3$