ECS2604 Assignment 4 Semester 2 - DUE 8 November 2024
12 views 1 purchase
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. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)...........
Question 1 [20]
1. When the labour demand curve shi...
ECS2604 Semester 2 2024 Assignment 4 - DUE 8 November 2024
Samenvatting Labor Economics for final Exam - Labour Economics (6013B0468Y)
Summary period 1 DVHC
All for this textbook (6)
Written for
University of South Africa
Labour Economics (ECS2604)
All documents for this subject (6)
Seller
Follow
LIBRARYpro
Reviews received
Content preview
ECS2604
ASSIGNMENT 4 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 8 NOVEMBER 2024
, ECS2604
Assignment 4 Semester 2 2024
Unique Number:
Due Date: 8 November 2024
Labour Economics
Question 1
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.
Answer: (c) the wage increases.
When the demand for labor goes up (shifts rightward), it means that employers are
looking to hire more workers. With higher demand for workers but the same supply of
people available to work, wages generally rise. It’s like in any market—when something
is in higher demand, prices (or wages, in this case) go up. So, we’d expect wages to
increase.
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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LIBRARYpro. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.71. You're not tied to anything after your purchase.