11/11/22, 11:50 PM Assessment 12 (page 2 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:39
Question 2
Answer saved
Marked out of 1.00
If Donald earns a nominal wage of R25 000 and he receives an increase in salary of R2 000, which of the following is true if the inflation rate
is 9%?
Donald receives an increase in nominal wage and a decrease in his real wage.
Donald receives an increase in both nominal and real wage.
Donald receives a decrease in nominal wage and an increase in his real wage.
Donald receives a decrease in both nominal and real wage.
Clear my choice
Question 3
Answer saved
Marked out of 1.00
Price takers are individuals in a market who
have no ability to affect the price of a good in a market.
select a price from a wide range of alternatives.
select the lowest price available in a competitive market.
select the average of prices available in a competitive market.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=1 1/1
,11/11/22, 11:50 PM Assessment 12 (page 3 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:22
Question 4
Answer saved
Marked out of 1.00
Workers are likely to have more bargaining power to negotiate higher wages with employers if
there is unlimited substitution of capital for labour.
they do not belong to a trade union.
they are more productive.
there is an excess supply of labour.
Clear my choice
Question 5
Answer saved
Marked out of 1.00
An assumption of the model of perfect competition is
discrimination.
limited information.
difficult entry and exit.
many buyers and sellers.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=2 1/1
,11/11/22, 11:51 PM Assessment 12 (page 4 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:06
Question 6
Answer saved
Marked out of 1.00
If the price is greater than the average variable cost and less than the average total cost at the profit-maximizing quantity of output in the
short run, a perfectly competitive firm will
produce at an economic loss.
produce more than the profit-maximizing quantity.
produce at an economic profit.
shut down production.
Clear my choice
Question 7
Answer saved
Marked out of 1.00
Average variable cost is
the difference between average total cost and total variable cost.
variable cost per unit multiplied by output.
total variable cost divided by output.
the difference between total cost and total variable cost.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=3 1/1
, 11/11/22, 11:51 PM Assessment 12 (page 5 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:07:51
Question 8
Answer saved
Marked out of 1.00
In the short run
all inputs are variable.
some inputs are fixed and some inputs are variable.
all costs are variable.
all inputs are fixed.
Clear my choice
Question 9
Answer saved
Marked out of 1.00
If the minimum wage in the market for unskilled labour is repealed, we would expect to see an increase in
the wages of unskilled workers.
employment of unskilled workers.
the number of people seeking employment as unskilled workers.
unemployment among unskilled workers.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=4 1/1
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:39
Question 2
Answer saved
Marked out of 1.00
If Donald earns a nominal wage of R25 000 and he receives an increase in salary of R2 000, which of the following is true if the inflation rate
is 9%?
Donald receives an increase in nominal wage and a decrease in his real wage.
Donald receives an increase in both nominal and real wage.
Donald receives a decrease in nominal wage and an increase in his real wage.
Donald receives a decrease in both nominal and real wage.
Clear my choice
Question 3
Answer saved
Marked out of 1.00
Price takers are individuals in a market who
have no ability to affect the price of a good in a market.
select a price from a wide range of alternatives.
select the lowest price available in a competitive market.
select the average of prices available in a competitive market.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=1 1/1
,11/11/22, 11:50 PM Assessment 12 (page 3 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:22
Question 4
Answer saved
Marked out of 1.00
Workers are likely to have more bargaining power to negotiate higher wages with employers if
there is unlimited substitution of capital for labour.
they do not belong to a trade union.
they are more productive.
there is an excess supply of labour.
Clear my choice
Question 5
Answer saved
Marked out of 1.00
An assumption of the model of perfect competition is
discrimination.
limited information.
difficult entry and exit.
many buyers and sellers.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=2 1/1
,11/11/22, 11:51 PM Assessment 12 (page 4 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:08:06
Question 6
Answer saved
Marked out of 1.00
If the price is greater than the average variable cost and less than the average total cost at the profit-maximizing quantity of output in the
short run, a perfectly competitive firm will
produce at an economic loss.
produce more than the profit-maximizing quantity.
produce at an economic profit.
shut down production.
Clear my choice
Question 7
Answer saved
Marked out of 1.00
Average variable cost is
the difference between average total cost and total variable cost.
variable cost per unit multiplied by output.
total variable cost divided by output.
the difference between total cost and total variable cost.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=3 1/1
, 11/11/22, 11:51 PM Assessment 12 (page 5 of 14)
MENU
Dashboard / Courses / UNISA / 2022 / Semester 2 / ECS1501-22-S2 / Assessments / Assessment 12
Time left 0:07:51
Question 8
Answer saved
Marked out of 1.00
In the short run
all inputs are variable.
some inputs are fixed and some inputs are variable.
all costs are variable.
all inputs are fixed.
Clear my choice
Question 9
Answer saved
Marked out of 1.00
If the minimum wage in the market for unskilled labour is repealed, we would expect to see an increase in
the wages of unskilled workers.
employment of unskilled workers.
the number of people seeking employment as unskilled workers.
unemployment among unskilled workers.
Clear my choice
◄ Assessment 11
Jump to...
Forum - Assessment 1 ►
https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=6473087&cmid=213755&page=4 1/1
