Texts: The following questions are about the possible impact of Covid-19 on South Africa's economic performance for 2020 in comparison to that of 2019. The data sources are: South African Reserve Bank, Quarterly Bulletin March 2023 pages S-115, S-117, and S-119.
1. Covid-19 can be regarded as random variation.
True
False
2. Final consumption expenditure by government is a stock variable.
True
False
3. The economic growth rate for 2020 was ____%.
4. In 2020, gross capital formation in real terms declined by _____ million.
5. In 2020, in percentage terms, real final consumption expenditure by households declined by ____%.
6. Based on the second quarter of 2020, what was the annualized growth rate based on a quarter-to-the-previous-quarter method? ____%
7. In 2020, in percentage terms, the secondary sector declined by ____%?
8. In 2020, in real terms, the primary sector declined by ____ million.
9. The South African economy is currently in a downward phase of the business cycle.
True
False