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ECS2604 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS R100,00
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ECS2604 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS
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THIS DOCUMENT CONTAINS ECS2604 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND SOLUTIONS. USING IT CORRECLTY WILL HELP YOU SCORE ABOVE 80%.

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  • April 4, 2024
  • 33
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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Started on Thursday, 4 April 2024, 9:16 PM
State Finished
Completed on Thursday, 4 April 2024, 10:17 PM
Time taken 1 hour
Marks 24.00/30.00
Grade 80.00 out of 100.00


Question 1
Superior worker effect enables
Correct
Mark 2.00 out
of 2.00

Flag a. The employers to convince the most productive workers to leave the unionised sector.
question
b. The employees to prove their superior productivity to the employers in both unionised and non-unionised sectors.

c. The employees to find work in the non-unionised sector.
d. The employers to hire the least productive workers in the unionised sector.
e. The employers to select the most productive workers in the unionised sector. Correct.




Your answer is correct.
The correct answer is:
The employers to select the most productive workers in the unionised sector.



Question 2
Use the graph below to answer the question that follows:
Correct
Mark 2.00 out
of 2.00

Flag
question




How many workers will a non-discriminating monopsonist hire and at what wage rate?




a.
100 workers, at a wage rate of R240.


b. 70 workers, at a wage rate of R150. Correct.



c.
100 workers, at a wage rate of R350.


d. 70 workers, at a wage rate of R350.



e.
100 workers, at a wage rate of R150.




Your answer is correct.
The correct answer is:

70 workers, at a wage rate of R150.



Question 3
Working-time flexibility can take the form of
Incorrect

,Mark 0.00 out [I] shift work
of 2.00
[II] overtime
Flag
question [III] flexitime



a. Only [I] and [II] are correct.
b. Only [I] and [III] are correct.
c. All three forms are correct.

d. Only [II] and [III] are correct.
e. All three forms are incorrect. All three forms are correct.




Your answer is incorrect.
The correct answer is:
All three forms are correct.



Question 4
Use the information in the following table to compare the unit labour costs of a hypothetical firm between 2023 and 2024:
Correct
Mark 2.00 out
Year Daily wage per worker Number of units produced per day per worker
of 2.00 2023 100 10
Flag
question 2024 200 15




a. (a), (b) and (c) are all incorrect.
b. (c) The unit labour cost remains the same between the two years.
c. It is impossible to calculate the unit labour cost based on the information in the table.
d. (b) The unit labour cost decreases between the two years.
e. (a) The unit labour cost increases between the two years. Correct.




Your answer is correct.
The correct answer is:
(a) The unit labour cost increases between the two years.



Question 5
Which of the following is incorrect regarding a bargaining council?
Correct
Mark 2.00 out
of 2.00

Flag a. It facilitates collective bargaining.
question
b. It is established for a specific sector or area.
c. It is established on a compulsory basis Correct.

d. It consists of two main parties, namely trade unions and employers’ organisations.
e. It is a permanent collective bargaining institution.



Your answer is correct.
The correct answer is:
It is established on a compulsory basis



Question 6 Which of the following is NOT an argument against minimum wages?
Correct
Mark 2.00 out Minimum wages could result in labour being replaced by capital.
of 2.00

Flag Minimum wages create an inflationary effect.
question



Minimum wages could result in a higher unemployment rate.


Correct.
Minimum wages increase the profitability of productive investment, causing new enterprises to start up.

, Minimum wages do not accommodate the specific circumstances of an individual enterprise.



Your answer is correct.
The correct answer is:

Minimum wages increase the profitability of productive investment, causing new enterprises to start up.



Question 7
Assuming a monopsonist operates in a discriminating labour market, what are the respective values in cells A, B and C?
Correct
Mark 2.00 out
Wage (W) Employment (E) Marginal cost of labour (MCE)
of 2.00
20 1 20
Flag
question 40 2 A
60 3 B
80 4 C



a. A = 20, B = 50, C = 80.



b.
A = 2, B = 3, C = 4.


c. A = 40; B = 60; C = 80. Correct.



d.
A = 20, B = 20, C = 20.


e. A = 60, B = 100, C = 140.




Your answer is correct.
The correct answer is:

A = 40; B = 60; C = 80.



Question 8
Productivity is traditionally measured as
Correct
Mark 2.00 out
of 2.00
Flag Quantity of labour / quantity of capital.
question



Quantity of output / quantity of input. Correct.



None of the above is correct.

Quantity of input / quantity of output.



Total revenue / total cost.




Your answer is correct.
The correct answer is:

Quantity of output / quantity of input.



Question 9
Some of the disadvantages of atypical employment are that
Correct
[a] Atypical workers are less likely to be covered by retirement provision and health care.
Mark 2.00 out
of 2.00 [b] There is little incentive to train atypical workers.
[c] The wages of atypical workers are higher than other employees.
Flag
question

, All three statements are correct.



All three statements are incorrect.



Only [a] and [c] are correct.



Only [a] and [b] are correct. Correct.



Only [b] and [c] are correct.




Your answer is correct.
The correct answer is:

Only [a] and [b] are correct.



Question 10 Use the following figure to answer the question below:
Correct
Mark 2.00 out
of 2.00

Flag
question




The spill-over effect would result in the wage of the ………. to ……. from W to ……


Unionised sector; decrease; WN
Non-unionised sector; decrease; WT
Non-unionised sector; decrease; WN Correct.

Non-unionised sector; increase; WT

Unionised sector; increase; WU




Your answer is correct.
The correct answer is:
Non-unionised sector; decrease; WN



Question 11
In a dual labour market, the primary segment is characterised by
Correct
Mark 2.00 out
of 2.00

Flag a. conditions where promotions rarely occur from staff already within the business.
question
b. low levels of unionisation.
c. easy access but only at the bottom levels. Correct.

d. low levels of job security.
e. low earnings.

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