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ECS2602 ASSESSMENT 3 SEMESTER 2 2024 Which one of the following statements is INCORRECT? In our analysis of the labour market, we assume the following: Select one: A. Labour is the only factor of production used in the production of output. B. The price o

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Intermediate Macroeconomics (ECS2602)

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University Of South Africa (Unisa)

ECS2602 ASSESSMENT 3 SEMESTER 2 2024 Which one of the following statements is INCORRECT? In our analysis of the labour market, we assume the following: Select one: A. Labour is the only factor of production used in the production of output. B. The price of oil and other raw material increases...

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intermediate macroeconomics ecs2602

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University of South Africa (Unisa)
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Intermediate Macroeconomics (ECS2602)

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PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144

,Which one of the following, according to the wage-setting relationship, is NOT an
institutional factor that may affect the outcome of wage setting?

Select one:

A. the unemployment rate

B. labour law protection

C. minimum wages

D. unemployment benefits

,8/29/24, 12:49 AM Assessment 3 (page 26 of 30)

ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 3

QUIZ

Question 26

Answer saved

Marked out of 1.00

Which one of the following statements is INCORRECT?

In our analysis of the labour market, we assume the following:

Select one:
A. Labour is the only factor of production used in the production of
output.

B. The price of oil and other raw material increases over time.

C. Labour productivity is constant.

D. The price of products set by firms is based on cost plus a markup.

Clear my choice

https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=21526333&cmid=848063&page=25 1/1

, 8/29/24, 12:48 AM Assessment 3 (page 22 of 30)

ECS2602-24-S2  Welcome to the module ECS2602-24-S2  Assessment 3

QUIZ

Question 22

Answer saved

Marked out of 1.00

Give the wage-setting equation W = PeF(u,z), wage bargaining is struck in
nominal terms and the factors that will impact the nominal wages are the ____

Select one:
A. actual price level, the unemployment rate, and labour laws.

B. actual price level, expected price level, and unemployment benefits.

C. expected price level, the unemployment rate, and factors such as
labour laws.

D. unemployment rate, and the markup.

Clear my choice

https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=21526333&cmid=848063&page=21 1/1

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ECS2602 ASSESSMENT 3 SEMESTER 2 2024 Which one of the following statements is INCORRECT? In our analysis of the labour market, we assume the following: Select one: A. Labour is the only factor of production used in the production of output. B. The price o

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