University : Regenesys Business School UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : ECOS2ASG
Country : South Africa
Assignment Task:

QUESTION 1 

1.1 Provide a critical review of South Africa’s labour market. Be sure to include six characteristics of the labour market, at least five challenges facing the labour market, and the latest developments in the labour market. 

1.2 Defend the following statement: 

“There is an inverse relationship between the rate of inflation and the unemployment rate.” 

1.3 Outline various ways in which a trade union can try to increase the minimum wage rate. 

1.4 Explain the relationship between labour supply and elasticity in South Africa’s public sector. 

QUESTION 2 

The law of demand states that (if all other factors remain equal) the higher the price of a good, the less people will demand that good, and the lower the price of a good, the greater is the quantity demanded. Against this background, argue whether it is possible to get an upward sloping demand curve. Use practical examples to support your view. 

QUESTION 3 [10 MARKS] 

3.1 Refer to the figure below and answer the questions that follow: 

Is it fair to say that all choices on I1, I2 and I3 give the same amount of utility? Substantiate your answer. 

3.2 What does line B1 refer to? (3) 

3.3 Explain whether indifference curve I1 and I3 is obtainable. (4) 

QUESTION 4

Assess South Africa’s current economic climate and argue whether the government should apply an expansionary or restrictive fiscal policy. Be sure to discuss the impact of the chosen policy on the budget. 

QUESTION 5 

5.1 Determine and explain whether the relationships between the following pairs of dependent and independent variables would be positive or negative: 

a) Aggregate net investment in South Africa in a given year and GDP for that year.

b) Aggregate net investment and the real rate of interest in the same year and country. 

5.2 With respect to estimated regression equations, why do the coefficients in different estimated equations differ from one another? 

5.3 Consider the following equation, and explain the meaning of each of the coefficients: 

Y = 2 + 3x1 + 4x2 

5.4 Defend or argue against the notion that regression analysis is an ideal method to use at your workplace to prove causality, especially with statistically significant relationships. 

 

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  • Uploaded By : Mia
  • Posted on : July 25th, 2018
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