How often The labour market and wages is asked

Where it was asked

What costs marks here

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A memo tells us what the markers actually rewarded and penalised. With one, this section fills in for every student — help us get one.

The questions

  1. Oct/Nov 2017, QB.312 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Donald earns a nominal wage of R25 000 and receives a salary increase of R2 000. If the inflation rate is 9%, which of the following statements is true?

  2. Oct/Nov 2017, QB.322 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Which of the following factors would make a labour market less competitive?

  3. Oct/Nov 2017, QB.332 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Trade unions can use various strategies to try to raise the wage rates of their members. Which one of the following strategies will NOT tend to be accompanied by lower employment (that is, increased unemployment)?

  4. Oct/Nov 2017, QB.342 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. A labour market diagram shows an upward-sloping labour supply curve S and a downward-sloping labour demand curve D, intersecting at equilibrium point E. Four wage levels are marked on the wage-rate axis, from lowest to highest: ww1, ww2, ww3 (at the equilibrium level) and ww4. The government wants to set a minimum wage but is unsure at what level. Which of these wage rates would be effective — that is, would actually change the equilibrium wage rate and quantity of labour employed?

  5. Oct/Nov 2017, QB.352 marks · multiple choice

    This is Section B of the ECS1501 October/November 2017 examination, consisting of 35 compulsory multiple-choice items, each worth 2 marks (70 marks in total, 84 minutes allowed). For each item, select the correct option from those listed. Using the same labour market diagram (with supply S, demand D, equilibrium E, and wage levels ww1 to ww4), which of the following would be true if the government sets the minimum wage at ww4?

  6. May/Jun 2017, QB302 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Which one of the following statements about the goods market and the labour market is correct?

  7. May/Jun 2017, QB312 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Joan received an increase of 5% in her daily wage. If prices in general increase by 7% over the same period, which one of the following statements is true?

  8. May/Jun 2017, QB322 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Which of the following would cause an increase in the supply of labour?

  9. May/Jun 2017, QB332 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). A diagram shows a labour market with wage (W) on the vertical axis and number of workers (N) on the horizontal axis, with an upward-sloping labour supply curve SL, a downward-sloping labour demand curve DL, and a minimum wage Wm set above the market equilibrium wage where SL and DL intersect. In the context of a perfectly competitive labour market, what is NOT a characteristic of such a market?

  10. May/Jun 2017, QB342 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Referring to the same labour market diagram (wage W on the vertical axis, number of workers N on the horizontal axis, upward-sloping supply SL, downward-sloping demand DL, and a minimum wage Wm set above the equilibrium wage, creating a gap between the quantities supplied and demanded at Wm), which one of the following statements about the diagram is FALSE?

  11. May/Jun 2017, QB352 marks · multiple choice

    This is Section B, the compulsory multiple-choice component of the ECS1501 May/June 2017 exam, consisting of 35 items worth 70 marks in total (2 marks each, since the paper does not print individual marks per item but states the section is compulsory). Under what circumstances are workers likely to have more bargaining power to negotiate higher wages with employers?

  12. May/Jun 2016, Q661.43 marks · multiple choice

    Identify which one of the following is not a characteristic of the labour market.

  13. May/Jun 2016, Q671.43 marks · multiple choice

    Consider a diagram of changes in the labour market equilibrium, where wage rate is plotted against quantity of labour (N). Initially, demand curve D0 intersects supply curve S0 at equilibrium E0, giving wage w0 and quantity N0. The demand curve then shifts rightward to D1, intersecting S0 at a new equilibrium E1, giving a higher wage w1 and a higher quantity N1. Which one of the following would cause this shift of the demand curve for labour, as shown in the graph?

  14. May/Jun 2016, Q681.43 marks · multiple choice

    Complete the statement: in addition to belonging to a trade union, workers are likely to have more bargaining power to negotiate higher wages with employers if ___.

  15. May/Jun 2016, Q691.43 marks · multiple choice

    Trade unions can employ various strategies in an attempt to increase the wage rates of their members. Which one of the following options will not tend to be accompanied by lower employment (increased unemployment)?

  16. May/Jun 2016, Q701.43 marks · multiple choice

    Refer to a diagram of a perfectly competitive labour market where demand curve D and supply curve S intersect at equilibrium E, giving equilibrium wage w0 and quantity of labour N0. A minimum wage wm, set above w0, is imposed, resulting in a quantity of labour demanded of Nm and a quantity of labour supplied of N1. Which of the following statements is correct regarding the imposition of this minimum wage (wm) in a perfectly competitive labour market?

  17. May/Jun 2015, Q631.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine which one of the following statements about wages and productivity is true.

  18. May/Jun 2015, Q641.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine which of the following will NOT shift the market supply of labour.

  19. May/Jun 2015, Q651.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine what a change in wages causes in the labour market.

  20. May/Jun 2015, Q661.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. A diagram shows wage (W) on the vertical axis and number of workers (N) on the horizontal axis, with a downward-sloping labour demand curve DL and an upward-sloping labour supply curve SL, intersecting at some equilibrium wage. A minimum wage, Wm, is shown as a dashed horizontal line above the equilibrium wage, intersecting the supply curve SL at a lower quantity and the demand curve DL further to the left. Determine which one of the following statements about this diagram is false.

  21. May/Jun 2015, Q671.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine why the demand curve for labour slopes downwards.

  22. May/Jun 2015, Q681.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine which one of the following statements about the labour market is incorrect.

  23. May/Jun 2015, Q691.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine which one of the following is NOT a requirement for perfect competition in the labour market.

  24. May/Jun 2015, Q701.4286 marks · multiple choice

    This is the ECS1501 (Economics IA) May/June 2015 examination, a closed-book, multiple-choice paper lasting 2 hours and worth 100 marks in total. It contains 70 questions that must all be answered on a mark-reading sheet using unique number 492522. The paper states each question carries 1,4 marks, though 70 Ă— 1,4 = 98, not 100; the exact weighting must therefore be 100/70 â‰Ë†1,4286 marks per question to reach the stated total of 100 - a minor internal inconsistency in the printed paper. Determine which one of the following statements about a perfectly competitive labour market is incorrect.

  25. Oct/Nov 2014, Q621.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. Which of the following statements about a perfectly competitive labour market is INCORRECT?

  26. Oct/Nov 2014, Q631.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. Which one of the following will increase the supply of labour in a particular industry?

  27. Oct/Nov 2014, Q641.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. If nominal wages increase by an average of 10 per cent per annum and the prices of goods and services increase by an average of 5 per cent per annum, what does this imply about real wages?

  28. Oct/Nov 2014, Q651.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. The table below relates the number of workers employed (N, from 0 to 6) to total physical product (TPP), marginal physical product (MPP), price (in Rand) and marginal revenue product (MRP), with some values missing to be completed: for N=0, TPP=0, MPP=0, MRP=0; for N=1, MPP=30, MRP=420; for N=2, TPP=62; for N=3, MPP=10; for N=4, TPP=80; for N=5, MPP=5; for N=6, TPP=87, MRP=28. If the wage rate is R140 per worker, how many workers would the firm employ to maximise profits?

  29. Oct/Nov 2014, Q661.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. Using the same table of workers (N), total physical product (TPP), marginal physical product (MPP), price and marginal revenue product (MRP) described above, which of the following statements is/are correct: (a) the marginal revenue product for the sixth worker equals 28; (b) it is profitable for the firm to employ five workers when the wage rate is R70 per worker; (c) the marginal physical product for the third worker equals 10?

  30. Oct/Nov 2014, Q671.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. Which one of the following is NOT a reason for a decrease in the market demand for labour?

  31. Oct/Nov 2014, Q681.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. By which of the following means can trade unions attempt to raise the wage?

  32. Oct/Nov 2014, Q691.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. In a perfectly competitive labour market, what would result from the imposition of an effective minimum wage above the equilibrium wage?

  33. Oct/Nov 2014, Q701.4285714285714286 marks · multiple choice

    This is the multiple-choice section of the ECS1501 (Economics 1A) October/November 2014 examination, a closed-book, 2-hour paper worth 100 marks in total, for which a non-programmable pocket calculator may be used. The paper consists of 70 multiple-choice questions numbered 1 to 70 that must all be answered on the supplied mark-reading sheet using unique number 495584. The paper states that each question is worth 1,4 marks so that the 70 questions together make up the stated 100 marks (note: 70 × 1,4 = 98, not exactly 100, which appears to be a rounding inconsistency in the original paper). Below, each of the 70 individual multiple-choice items is reproduced, covering topics from basic economic concepts, demand and supply, elasticity, consumer theory, production and costs, market structures (perfect competition, monopoly, monopolistic competition) and labour markets. In a competitive labour market, which of the following statements about the individual firm is correct?

The full Spot Map and the marks by year.