ECS1601 Oct/Nov 2016 exam paper — questions

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  1. Question 1(a) · Fiscal policy, taxation and public finance · 3 marks

    Give a brief explanation of what demand management policies are and describe how these policies can be applied within the economy.Show the full question

  2. Question 1(b) · National income accounting and GDP · 4 marks

    Explain the difference between a flow variable and a stock variable, and provide one example of each type of variable.Show the full question

  3. Question 1(c) · Money, banking and the money market · 5 marks

    Draw and use a diagram to explain the effect that a decrease in the interest rate would have on the quantity of money demanded within the money market.Show the full question

  4. Question 1(d) · Fiscal policy, taxation and public finance · 3 marks

    Name and briefly describe three different ways in which government spending can be financed.Show the full question

  5. Question 2(a) · Keynesian income determination and the multiplier · 5 marks

    Using a suitable diagram, explain how a decrease in government spending will affect the level of income in the Keynesian model.Show the full question

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