The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy President Phumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, government identified six "binding constraints on growth" that needed to be addressed so as to progress in its desire for shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. This could be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an average of 6% in the period 2010 to 2014. 1.8 Given the information in the extract, the Simple Keynesian Macroeconomic Model concludes the following about the South African economy in 2006. a) Excess demand b) Excess supply c) Macroeconomic equilibrium d) Aggregate spending is less than output
The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy President Phumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, government identified six "binding constraints on growth" that needed to be addressed so as to progress in its desire for shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. This could be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an average of 6% in the period 2010 to 2014. 1.8 Given the information in the extract, the Simple Keynesian Macroeconomic Model concludes the following about the South African economy in 2006. a) Excess demand b) Excess supply c) Macroeconomic equilibrium d) Aggregate spending is less than output
Chapter1: Making Economics Decisions
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![1.8 Read the following extract and use it to answer question
The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy President
Phumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, government
identified six "binding constraints on growth" that needed to be addressed so as to progress in its desire for
shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. This
could be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an
average of 6% in the period 2010 to 2014.
1.8 Given the information in the extract, the Simple Keynesian Macroeconomic Model concludes the following
about the South African economy in 2006.
a) Excess demand
b) Excess supply
c) Macroeconomic equilibrium
d) Aggregate spending is less than output](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6d682e75-3d83-4664-bc4a-ca1ef91c429f%2Fb1e1cef1-9a07-429d-94f4-6b77289a8003%2F1vrxm5j_processed.png&w=3840&q=75)
Transcribed Image Text:1.8 Read the following extract and use it to answer question
The Accelerated and Shared Growth Initiative for South Africa (AsgiSA) was launched by Deputy President
Phumzile Mlambo-Ngcuka in February 2006. After research and discussion with stakeholders, government
identified six "binding constraints on growth" that needed to be addressed so as to progress in its desire for
shared growth and to achieve its target of halving unemployment and poverty between 2004 and 2014. This
could be achieved if the economy grew at an average rate of at least 4.5% in the period to 2009, and by an
average of 6% in the period 2010 to 2014.
1.8 Given the information in the extract, the Simple Keynesian Macroeconomic Model concludes the following
about the South African economy in 2006.
a) Excess demand
b) Excess supply
c) Macroeconomic equilibrium
d) Aggregate spending is less than output
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