ECS2604 ASSESSMENT 4 SEM 2 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
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Course
Labour Economics (ECS2604)
Institution
University Of South Africa (Unisa)
THIS DOCUMENT CONTAINS ECS2604 ASSESSMENT 4 SEM 2 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS. THE ANSWERS ARE NOT AI GENERATED AND I ALSO INCLUDED MORE THAN ONE ALTERNATIVE FOR SOME QUESTIONS ENSURING THAT YOUSCORE HIGH
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, Ques on 2
Strict Par cipa on Rate=( Labour Force/Popula on 16 years and older )*100%
In the labour force (employed + unemployed ac vely seeking work):
Expanded unemployment includes all unemployed persons whether they are ac vely seeking work or
not.
Unemployed (expanded): Glenda (ac vely seeking), Muano (star ng job search), Sophie
(occasionally looks at job ads), Pfarelo (retrenchment and depression) = 4 people.
epanded Unemployment Rate=(Labour Force (Expanded)/Total Unemployed (Expanded))×100%
Labour force under expanded defini on includes the employed (Sharon, Bridget) + all
unemployed (4 people) = 6 people
Expanded Unemployment Rate=(4/6)×100%=66.67%
3.1
When employers are mandated to provide greater compensa on, or when the costs associated with
compensa on rise because of amendments to COIDA, this elevates the expense of employing each
worker. In economic terms, this is tantamount to an increase in the "cost of labour." According to
demand theory, although the price (or cost) of a good or service rises, the demand for that good or
service generally declines, holding everything else constant. However, firms might curtail their demand
for labor to offset the heightened costs.
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