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Which of the following statements reflect the Keynesian approach to inflation?
i. It is considered a supply-side theory.
ii. It focuses on changes in the economy over the longer term.
iii. An increase in money supply will result in an decrease in the price level.
iv. Optimal economic performance can be achieved through government intervention.
Please state if the following statement is true or false. The core element of the South African government’s economic policy is to boost foreign investment into South Africa.
Read the following information and answer the question below:
The Gross Domestic Product (GDP) in South Africa was worth 351.43 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of South Africa represents 0.29% of the world economy.
South Africa’s economy grew by an annualized 66.1% in the third quarter of 2020, recovering from a record 51.7% slump in the April-June period and easily beating market expectations of 52.6%. That was the strongest pace of expansion since at least 1993, with manufacturing, trade and mining being the biggest drivers of growth following the easing of COVID-19 lockdown restrictions. Despite the rebound, in the third quarter of 2020 the economy is still 5.8% smaller than it was at the end of 2019.
Which of the following information would be of primary interest to analysts concerned with the South African financial markets?
Which of the following forms of money supply must be included to calculate M3 money supply?
i. Coins and notes
ii. Fixed term deposits
iii. Repurchase agreements
iv. Marketable debt securities (bonds) (not directly mentioned – is that okay)?
Based on the below information provided and answer the question below:
The value of South Africa’s net gold and merchandise exports surged to an all-time high in the third quarter of 2020, along with a more muted increase in merchandise imports as global trade recovered following the easing of COVID-19 lockdown restrictions and the related rebound in economic activity. As a result, South Africa’s trade surplus widened significantly to 9.0% − the largest ratio of General Domestic Product (GDP) since the third quarter of 1988. Mining, manufacturing and agricultural exports all increased strongly in the third quarter of 2020, boosted by higher international commodity prices, increased global demand and an improvement in loading rates at domestic ports. The value of merchandise imports increased, although by a much lesser extent than exports, in the third quarter of 2020 and remained well below the level of a year earlier, reflective of weak domestic demand.
The balance on the current account of the balance of payments (BoP) switched from a deficit in the second quarter of 2020 to a notable surplus of 5.9% in the third quarter − the largest surplus as a ratio of GDP since the third quarter of 1988.
The net flow of capital on South Africa’s financial account of the balance of payments reflected a larger outflow of R38.6 billion in the third quarter of 2020, following a revised outflow of R24.0 billion in the second quarter. Other investment inflows largely reflected long-term loans extended to the general government by non-residents to combat the effects of COVID-19. These inflows also boosted the level of South Africa’s international reserve assets in the third quarter of 2020.
Which of the following options regarding the accounts on the Balance of Payments (BoP) are correct?
i. The gold and other foreign reserves account increased.
ii. The value of foreign exports exceeded foreign imports.
iii. The sales of goods as measured in the current account balance decreased.
iv. The current account balance increased.
Which ONE of the following statements with regard to leading indicators is correct? Leading indicators-
Which of the following statements with regard to Consumer Price Index (CPI) are correct?
i. CPI is not inflation.
ii. CPI is an indication of the level of prices.
iii. CPI measures the government’s expenditure effectiveness.
iv. Inflation measured the CPI increase over a period compared to a preceding period.
Which of the following assumptions is NOT true when attempting to reliably predict the impact of published economic indicators on the financial markets?
Which of the following are examples of times when rational traders are not in the majority and irrational behaviour occurs in the financial markets?
i. The analysts’ herd instinct.
ii. Stop-loss strategies.
iii. Contrarian investing.
iv. Panic driven by investors’ greed and fear.
Which of the following factors are important drivers of the South African economy
i. Unemployment rate
ii. Interest rates
iii. Consumer Price Index
iv. Expectations and sentiment
Please indicate if the following statement is true or false. Interpreting the significance of an economic indicator should be done in a vacuum.
The strict definition of unemployment considers a person to be unemployed only if the person meets which one of the following criteria?
Which jobs are not excluded from formal non-agricultural employment?
Which of the following statements are true regarding the composite business cycle indicators:
i. These indicators record only the direction of change in economic activity and not the level of economic activity.
ii. Analysts rely on these indicators in their attempts to predict what is going to happen in the financial markets.
iii. The composite leading indicator becomes of interest when the economy appears to be close to a turning point.
iv. Market participants place much trust in the predictive power of composite business cycle indicators.
Please indicate if the following statement is true or false. The two leading reporting agencies of economic indicators in South Africa are Stats SA and the South African Institute of Financial Markets (SAIFM).
Which ONE of the following statements regarding the retails sales data is correct?
Which of the following statements regarding the Purchasing Managers Index (PMI) are correct?
i. It is one of the first indicators of how the broader economy (and business cycle) fared during the month.
ii. Because it is based on the manufacturing sector, it is a less relevant indicator for the broader economy.
iii. Its relevance decreases as the share of manufacturing to the total Gross Domestic Product declines over time.
iv. It is a useful tool to compare the manufacturing sector’s performance across different countries.
Which of the following is NOT a leading indicator?
Which of the following statements regarding the Employment Situation Report (ESR) are correct?
i. The ESR is one of the most important, influential and anticipated international economic indicators
ii. The foreign exchange markets pays particular attention to the establishment survey for signs that might affect the value of the US dollar.
iii. If the ESR indicates an unexpected rise in employment, it may cause the US dollar to strengthen.
iv. A strong employment report may lead to economists and traders having confidence in a stable US inflation rate.
Which of the following statements regarding important non-US economic indicators are correct?
i. The German Industrial Production is released monthly.
ii. The German Industrial Production is released quarterly.
iii. The Japan’s Tankan Survey measures business confidence in Japan.
iv. The Japan’s Tankan Survey measures consumer confidence in Japan.