The Federal Reserve tries to influence the economy by changing the interest rate. Suppose the Fed wants to increase real GDP. Tell whether the Fed will raise or lower the interest rate. Ignoring any international effects, explain the effect the change in the interest rate has on real GDP and the price level. (Your explanation should definitely include a description of how the Fed policy changes the aggregate demand curve and/or the (short-run) aggregate supply curve and should relate the change(s) to the effect on real GDP and the price level.) 

International Macroeconomics (Balance of Payments and Exchange Rates)

Essay Questions (Answer only six questions)

According to Piaget, are cognitive achievements in one area automatically transferred to achievements in other areas?

QUESTION 1.2 CHOOSE THE CORRECT ANSWER: Complete the following statements using the words in the list below. Choose only the correct word and type it in the space provided in your ANSWER BLOCK. Market, dispute, public relations, time related, market development, induction, backward integration, grievance, quality management, piecework, micro ,National Skills 1.2.1 The… development strategy directs the responsibilities of role players in education and training in South Africa (2)    

SECTION C: ESSAY QUESTIONS Answer only ONE of the TWO essay questions. NUMBER your work clearly and as it appears in the question paper. QUESTION 5: (BUSINESS OPERATIONS) ZAMBA LTD. (ZB) Zamba Ltd. (ZB) lost customers due to the poor quality of their products. Their management does not know how to implement total quality management (TQM to ensure the continuous provision of quality products and services to their customers.   Consider the statement above and give a detailed description of the following aspects: o   Explain the negative impact on ZB if TQM is poorly implemented. o   Discuss the benefits of a good quality management system. o   Evaluate the impact of the following TQM elements on ZB: ·        Total customer / customer satisfaction ·        Continuous skills development / Education and training o   Give ZB advice on how they can apply the PDCA model / cycle to improve the quality of their products. (40) OR    

  SECTION A: Compulsory QUESTION 1.1 [Multiple choice] Four options are given as possible answers to the following questions. Choose the answer by selecting from the options.  1.1.1 The King Code of Corporate Governance contains examples of ethical business practice. An example of an ethical business practice is to… (2)  

QUESTION 6 (BUSINESS OPPORTUNITIES) Businesses realize the importance of redressing the imbalances of the past by implementing the Employment Equity Act. Some businesses feel that this law only benefits a certain group of the population. Write an essay on the following aspects: ·        Define the purpose of the Employment Equity Act ·        Discuss the impact of this Act on businesses. ·        Explain actions that may be considered discriminatory by the EEA. ·        Advise businesses on ways they can comply with the Act.      TOTAL FOR SECTION C [40] GRAND TOTAL [150]  

QUESTION 4: MISCELLANEOUS TOPICS Answer the following questions thoroughly, please number according to numbers in the question paper and write point by point. 4.1 Discuss the recruitment procedure, other than the components of a job analysis. (6) 4.2 Discuss the legal requirements of an employment contract. (6) 4.3 Explain what placement for the business entails. (4) 4.4 Identify the consumer law applicable to EACH of the following policies of Zonke Winkels.    4.4.1 Customers will be refunded for faulty products. (2) 4.4.2 Customers get the option to stop unwanted direct marketing. (2) 4.4.3 Zonke Stores will not publish false statements about their products and services. (2) 4.4.4 Zonke Stores will honor credit certificates and prepaid services. (2) 4.5 Discuss the steps to evaluate a strategy (8) 4.6 Differentiate between quality performance and quality management. Copy the table below to answer your question. QUALITY PERFORMANCE: QUALITY MANAGEMENT:           (8)   TOTAL QUESTION 4 [40]   TOTAL SECTION B [80]    

1.1.3 Comfort Furniture specializes in the distribution of office furniture. They are employed in the sector. (2)