2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
Assessment 1
Started on Tuesday, 18 March 2025,
State Finished
Completed on Tuesday, 18 March 2025,
Time taken
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
The market supply curve of labour will shift to the left if
a.
Wage rates increase.
b.
Demand for the industry’s output falls.
The cost of moving increases.
c.
The cost of moving increases.
d.
Wage rates fall.
e.
Supply of the individual firms in the industry rise.
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Your answer is correct.
1
,2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
The correct answer is:
The cost of moving increases.
Question 2
Labour absorption capacity is defined as:
a.
The percentage of new entrants to the labour force who find a job in the formal
sector.
b.
The percentage of new entrants to the labour force who find a job in the informal
sector.
c.
The percentage of new entrants to the labour force who find a job in the private
sector.
d.
The percentage of old entrants to the labour force who find a job in the informal
sector.
e.
The percentage of new entrants to the labour force who find a job in agriculture
industry.
Feedback
Your answer is correct.
The correct answer is:
2
,2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
The percentage of new entrants to the labour force who find a job in the formal
sector.
Question 3
The discouraged worker effect would tend to cause the labour supply to __________
during economic recession.
a.
Remain the same
b.
Increase
c.
Decrease
d.
Increase, decrease or remain the same
e.
Drop to zero with 100% certainty
Feedback
Your answer is correct.
The correct answer is:
Decrease
Question 4
Use the information in the following table to calculate the employment elasticity of
economic growth of a hypothetical country between 2023 and 2024.
3
, 2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
Year Real GDP Number of employed
2023 1 500 000 600 000
2024 1 800 000 690 000
a.
Employment elasticity of economic growth = 1.33
b.
Employment elasticity of economic growth = 0.30
c.
Employment elasticity of economic growth = 3.33
d.
Employment elasticity of economic growth = 9.33
e.
Employment elasticity of economic growth = 0.75
Feedback
Your answer is correct.
The correct answer is:
Employment elasticity of economic growth = 0.75
4
Assessment 1
Started on Tuesday, 18 March 2025,
State Finished
Completed on Tuesday, 18 March 2025,
Time taken
Marks 20.00/20.00
Grade 100.00 out of 100.00
Question 1
The market supply curve of labour will shift to the left if
a.
Wage rates increase.
b.
Demand for the industry’s output falls.
The cost of moving increases.
c.
The cost of moving increases.
d.
Wage rates fall.
e.
Supply of the individual firms in the industry rise.
Feedback
Your answer is correct.
1
,2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
The correct answer is:
The cost of moving increases.
Question 2
Labour absorption capacity is defined as:
a.
The percentage of new entrants to the labour force who find a job in the formal
sector.
b.
The percentage of new entrants to the labour force who find a job in the informal
sector.
c.
The percentage of new entrants to the labour force who find a job in the private
sector.
d.
The percentage of old entrants to the labour force who find a job in the informal
sector.
e.
The percentage of new entrants to the labour force who find a job in agriculture
industry.
Feedback
Your answer is correct.
The correct answer is:
2
,2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
The percentage of new entrants to the labour force who find a job in the formal
sector.
Question 3
The discouraged worker effect would tend to cause the labour supply to __________
during economic recession.
a.
Remain the same
b.
Increase
c.
Decrease
d.
Increase, decrease or remain the same
e.
Drop to zero with 100% certainty
Feedback
Your answer is correct.
The correct answer is:
Decrease
Question 4
Use the information in the following table to calculate the employment elasticity of
economic growth of a hypothetical country between 2023 and 2024.
3
, 2025 – S1 – ECS2604 – ASSESSMENT 1 – Q&A
Year Real GDP Number of employed
2023 1 500 000 600 000
2024 1 800 000 690 000
a.
Employment elasticity of economic growth = 1.33
b.
Employment elasticity of economic growth = 0.30
c.
Employment elasticity of economic growth = 3.33
d.
Employment elasticity of economic growth = 9.33
e.
Employment elasticity of economic growth = 0.75
Feedback
Your answer is correct.
The correct answer is:
Employment elasticity of economic growth = 0.75
4
