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Homework answers / question archive / 1)Paraphrase the following sentence: Business groups and potential employers routinely complain that young Saudi men are poorly educated, lack the technical skills required by modern industry, and demand salaries well beyond their actual productive value

1)Paraphrase the following sentence:

Business groups and potential employers routinely complain that young Saudi men are poorly educated, lack the technical skills required by modern industry, and demand salaries well beyond their actual productive value.

2)With a given amount of resources (labour, land and capital) two countries, A and B, can produce either Good X or Good Y according to the production possibilities set out in the table below: Country Units of Good X 1:3 Units of Good Y (1:5 A Either 500 or 1,500 3Y 1/3 x 5Y 0.2X B Either 200 or 1,000 State the opportunity cost of producing one unit of Good X in each country prior to the commencement of international trade. 31 ,5Y State which country has a comparative advantage in the production of Good Y. [1] country B (iii) State which Good will be exported by Country A if trade is opened up between the two countries. Good X [1] (iv) Calculate in whole units the amount of Good Y per unit of Good X at which trade would be mutually beneficial between both countries. (v ) Describe what is meant by an improvement in a country's terms of trade. [Total 5]

3)Read the following three statements: a) Mr A invested R1 000 at bank XYZ. He received R1 070 from bank XYZ one year later. The R70 is called the interest rate. b) Inflation causes the purchasing power of money to decline. 36 c) PME3701/101/2/2020 According to the principle of equivalence, R1 000 at present is equivalent to R1 295,03 three years into the future if interest at an interest rate of 9% per annum can be earned on money invested. Which statement/s is/are correct? [1] a, bandc [2] band [3] a and b [4] a and c [5] None of the options (1, 2, 3 or 4) is correct. 17. You invest R3 600 per year for 10 successive years (at the end of each year) in a savings account at 15% per annum compound interest. Which option is closest to the end value in the savings account? R73 094 R74 391 [1] [2] [3] [4] R83 094 R93 941 18. Which option most closely represents the present value of R25 000 received for 10 successive years using a discount rate of 17%? [1] [2] [3] [4] R29 250 R207 500 R116 475 R292 500

16. Read the following three statements: Mr A invested R1 000 at bank XYZ. He received R1 070 from bank XYZ one year later. The R70 is called the interest rate. b) Inflation causes the purchasing power of money to decline. 36 c) PME3701/101/2/2020 According to the principle of equivalence, R1 000 at present is equivalent to R1 295,03 three years into the future if interest at an interest rate of 9% per annum can be earned on money invested. Which statement/s is/are correct? [1] a, b and [2] band [3] a and b [4] a and [5] None of the options (1, 2, 3 or 4) is correct. 17. You invest R3 600 per year for 10 successive years (at the end of each year) in a savings account at 15% per annum compound interest. Which option is closest to the end value in the savings account? [1] [2] [3] R73 094 R74 391 R83 094 R93 941 18. Which option most closely represents the present value of R25 000 received for 10 successive years using a discount rate of 17%? [1] [2] [3] [4] R29 250 R207 500 R116 475 R292 500

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