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1. When the country experiences high unemployment, which policy should be used between monetary policy and fiscal policy, and why?

2. Living in South Africa comes with a high cost of living. How can this be reduced?

3. As an economics student, advise the government on how unemployment can be reduced, considering the limited number of taxpayers in the country.

4. South Africa has experienced sluggish economic growth for years. Advise on how and which instrument should be used to improve economic growth without causing inflation.

Sagot :

GinnyAnsweridn

Final answer:

Explains fiscal and monetary policy in high unemployment, reducing cost of living in South Africa, and government advice on reducing unemployment.


Explanation:

1. Fiscal Policy vs. Monetary Policy in High Unemployment: During high unemployment, fiscal policy might be preferred over monetary policy because it involves direct government intervention through increased spending or tax cuts, which can stimulate demand and create jobs. Monetary policy, controlled by the central bank, may be limited in effectiveness during severe economic downturns.

2. Reducing Cost of Living in South Africa: To reduce the high cost of living, strategies such as promoting competition, improving infrastructure, enhancing education and skills training, and addressing inequality can be effective in lowering prices and enhancing living standards.

3. Government Advice on Reducing Unemployment: To tackle unemployment with a limited taxpayer base, the government can focus on policies that foster economic growth, encourage investment, provide job training programs, and support small businesses to create more employment opportunities.


Learn more about Unemployment, Fiscal Policy, Cost of Living here:

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