ECS2604 Assessment 4 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 8 November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions
ECS2604 Assessment 4 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 8 November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions
ECS2604 Assessment 4 (COMPLETE QUESTIONS & ANSWERS) Semester 2 2024 - DUE 8 November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions
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Assignment 4
Semester 2 - DUE 8
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, Exam (elaborations)
ECS2604 Assignment 4 Semester 2 - DUE 8 November
2024
Course
Labour Economics (ECS2604)
Institution
University Of South Africa
Book
Labor Economics
ECS2604 Assessment 4 (COMPLETE QUESTIONS & ANSWERS) Semester
2 2024 - DUE 8 November 2024 ;100 % TRUSTED workings, Expert Solved,
Explanations and Solutions
Question 1 [20] 1. When the labour demand curve shifts rightwards, at the
new equilibrium, (a) there is no change in wage. (b) the wage decreases. (c)
the wage increases. (d) the labour supply curve also shifts rightwards. (e) the
labour supply curve shifts leftwards. 2. The hourly wage of Thandi decreases
from R150 to R100. What will happen to her budget line? (a) Gets steeper. (b)
Shifts up without changing its slope. (c) Shifts downwards. (d) Becomes
flatter. (e) Remains the same 3. Assume company XYZ increases retirement
benefits for its employees, what is the effect on the budget line? (a) Shift down
the budget line without affecting its slope. (b) Shift up the budget line. (c) Shift
down the budget line. (d) Remains the same. (e) Steepen the budget line,
affecting its slope. 4. Assuming that for Mimi the substitution effect is stronger
than the income effect, which of the following applies to her? (a) She will work
more hours and her labour supply will increase. (b) She will work few hours
and her labour supply will decrease. (c) She will work few hours and enjoy
more leisure. (d) She will be indifferent between putting in more hours or
enjoying more leisure time. (e) The information provided is not enough to
determine the effect. ECS2604/2/2024 5. Assume E makes 6500 garments
each week and the total number of employees amount to 1500. Due to the
outbreak of COVID-19, there is a fall in demand for garments as
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