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4.3 Study the graph below and answer the questions that follow. REGIONAL INDUSTRIAL DEVELOPMENT GDP CONTRIBUTION PER PROVINCE: 2012 SA - 3.5 Performance Level 25 2 GDP/R SA 05 -0.5 WC EC NC FS KZN W GAU MP [Adapted from StatsSA, September 2013] 4.3.1 Which province made the highest contribution to the South African economy in 2012? (2) 4.3.2 Define the concept regional industrial development. (2) 4.3.3 What is the average GDP growth rate for South Africa? (2) 4.3.4 What do you think should the government do to promote industrial development in underperforming provinces? (4) 4.4 Discuss the monetary policy instruments used in stabilising the economy. (4 x 2) (8) 4.5 Assess how an increase in import prices and an increase in export prices (terms of trade) will affect the South African economy. (2 x 4) (8) [40] TOTAL SECTION B: 80QUESTION 3: ECONOMIC PURSUITS 40 MARKS - 20 MINUTES 3.1 Answer the following questions. 3.1.1 Name TWO social indicators. (2 x 1) (2) 3.1.2 Why does the Monetary Policy Committee of the South African Reserve Bank meet every two months? (1 x2) (2) 3.2 Study the extract below and answer the questions that follow. THE NATIONAL DEVELOPMENT PLAN (NDP) The NDP needs South Africans to stop pointing fingers at "wrongdoers' and instead help the vision take shape. The NDP would be implemented but the private sector and citizens must take part in the process. The government had done a good job of providing citizens with access to health care and education. According to the minister of finance the state's role in the implementation of the NDP was not an intrusive one; rather it was one that would set up the framework for the private sector to function. [Source: The Star, Business Report, 20 November 2013] 3.2.1 What is the state's role in the implementation of the NDP? (2) 3.2.2 Discuss TWO positive elements of the NDP. (2 x 2) (4) 3.2.3 Does the government provide quality education? Motivate your response. (2 x 2) (4)2.3 Study the table below and answer the questions that follow. SOUTH AFRICA'S CURRENT ACCOUNT IN THE BALANCE OF PAYMENTS 2010-2012 CURRENT ACCOUNT R BILLIONS 2010 2011 2012 Merchandise exports 597 714 743 Net gold exports 59 75 71 Less: Merchandise imports 607 742 354 Trade balance 49 47 40 Net service, income and current transfer payments -102 -115 -125 Balance on the current account -53 -68 -165 [Adapted from the Quarterly Bulletin SARB, December 2013] 2.3.1 Describe the trend in the balance on the current account from 2010 to 2012. (2) 2.3.2 Describe the term trade balance. (2) 2.3.3 Why is gold exports listed as a separate item on the current account? (2) 2.3.4 How can the government use our currency to improve the trade balance of 2012? (2 x 2) (4) 2.4 Discuss specialisation and economies of scale as arguments in favour of free trade. (2 x 4) (8) 2.5 Why is it necessary to protect developing countries against unfair overseas competition? (2 x 4) (8) [40]SECTION B Answer TWO of the three questions in this section in the ANSWER BOOK. QUESTION 2: MACROECONOMICS 40 MARKS - 20 MINUTES 2.1 Answer the following questions. 2.1.1 Give TWO examples of non-durable goods. (2 x 1) (2) 2.1.2 Why is the exchange market important to tourists? (1 x2) (2) 2.2 Study the diagram below and answer the questions that follow. Flows of factor incomes, for Leakages S - R100 million example wages, rent, interest and Consumption profits that arise of goods and R2 000 m from the R2 000 m services production of goods and B services. Injections 1- R120 million NOTE: mpc = 0,75 2.2.1 Provide the diagram above with an appropriate heading. (1) 2.2.2 Give any other injection besides investment. (1) 2.2.3 Identify A and B in the diagram above. (2) 2.2.4 How will national income be influenced by the above leakages and injections? (2) 2.2.5 Calculate the change in national income caused by the investment above. Show ALL calculations. (4)QUESTION 1 30 MARKS - 15 MINUTES 1.1 Various options are provided as possible answers to the following questions. Choose the answer and write only the letter (A-C) next to the question number (1.1.1-1.1.8) in the ANSWER BOOK, for example 1.1.9 B. 1.1.1 The method used to derive total remuneration on factors of production is called the ... method. A production income expenditure 1.1.2 In business cycles, estimating something unknown from information that is known is called ... A amplitude. extrapolation. trend. 1.1.3 South African Defence Force services is provided by ... government. A central local provincial 1.1.4 The purchasing or selling of equities forms part of ... investments in the balance of payments. A portfolio direct other 1.1.5 Negative economic growth for at least two consecutive quarters of the year is known as a ... A boom. depression. recession. 1.1.6 The state aims towards a more equal distribution of income by using a ... personal income tax system. A proportional regressive progressive 1.1.7 When a country's total imports exceeds its total exports it is referred to as a ... on the trade balance. A surplus deficit equilibrium 1.1.8 With globalisation countries become economically more ... interdependent. independent. isolated. (8 x 2) (16)