ECS2604
Assignment 4
Semester 2 - DUE 8
November 2024
[Type the document subtitle]
tabbymwesh59@gmail.com
[Pick the date]
[Type the abstract of the document here. The abstract is typically a short summary of the contents of
the document. Type the abstract of the document here. The abstract is typically a short summary of
the contents of the document.]
, 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
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller stuviatutor1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R48,50. You're not tied to anything after your purchase.
