A2 ECONOMICS: Guess Paper-4

[salmankhan00]

Sir I also need answers of all questions.
My id : [email protected]

can u plz send me the answers too? [email protected]

 

[hychristine]

waiting for answer of Q3 and Q7...

 

[MnMz]

waiting for answer of Q3 and Q7...

And 5

 

[patricia8686]

im waiting for all the answer :*(

 

[sameer.alam]

@ Sir Qamar Baloch,
Thanks a lot for all your help. Really appreciate it. InshAllah your guess paper will be spot on.
Sir please i need the answers for the paper and i have already emailed you. Sir my id is [email protected]

 

[Qamar Baloch]

Ok

can u plz send me the answers too? [email protected]

dear I will try to send all the answers on xtremepapers.

 

[Qamar Baloch]

waiting for answer of Q3 and Q7...

I will try to post all answers on xtrempapers tomorrow inshaAllah.

 

[MnMz]

Ok

dear I will try to send all the answers on xtremepapers.

Yes Sir please do it by tonite....so we could learn it tomorrow!! =)

 

[Qamar Baloch]

@ Sir Qamar Baloch,
Thanks a lot for all your help. Really appreciate it. InshAllah your guess paper will be spot on.
Sir please i need the answers for the paper and i have already emailed you. Sir my id is [email protected]

Ok dear send you tomorrow inshaAllah.

 

[Qamar Baloch]

ok

Yes Sir please do it by tonite....so we could learn it tomorrow!! =)

ok

 

[Qamar Baloch]

ok

im waiting for all the answer :*(

 

[Qamar Baloch]

ok

And 5

ok

 

[2pac]

question 5:

1.expl MRP -demand for labour and marginal factor cost regarding to the supply of labour.
2.using perfect compt. as a model,wage determination was established at the point of equilibrium-MRP=marginal factor cost(showing a diagram)
3.discuz influence of trade unions- trade union can affect wage rate by:
-improving productivity-by negotiating for better conditions and protecting the workforce, the unions may improve worker's output
-using industrial power e.g the threat of strikes to employers to pay more
- by restricting supply-only union members allowed to work here-reduce possible supply of labour and increases wage rate

unions can use their power to push up the price of labour. this caused a surplus and reduces the number employed. To try to increase pay and employment, unions must aim to increase productivity so that the D of L shifts outwards. (showing a diagram of collective bargaining by TU )
however, the power of tarde union depend on: the number of members; the legal environment etc.

4.discuz govt. intervene by introducing minimum wage and other relevant legislation
the minimum wage aims to -help low paid,may give more incentive to work (showing diagram)
howver, effect of minimum wage depends on how far above equilibrium the minimum wage is set and elasticity of supply and demand of labour.

5.discuz monopsony - single dominant buyer,in a strong bargaining position; wage maker
faces upward sloping supply curves- they need to increase wages to attract more workers. they must to increase wage for the last worker and all the ones before;this means the marginal cost of labour is higher than the av. wage rate(showing a diagram)

6.other imperfections include
-wage difference- quasi-pecuniary benefits;labour immobility- both occupational and geographical; lack of infomation
-employers may not be profit maximizers
- expolitation

7. differences in individual earnings:
e.g -ability and skills
-non-monetary characteristics
- age
-gender and race
-location
-demand for individual


i think that's all from me.
Sir,How was it?

could you please tell me the correct diagram of MRP.
thanks

 

[pitbull]

also in MRP and wage determination in competitive market, the supply curve is upward sloping or horizontal?

 

[axbycz]

ok

ok

sir, could u send me the solved guess paper..my id is [email protected]..thankyou sir

 

[hychristine]

also in MRP and wage determination in competitive market, the supply curve is upward sloping or horizontal?

in perfectly competitive labour market , supply curve is horizontal....
like this:

in competitive labour market, for example monopsony, the supply curve is upward sloping-they need to increase wages to attract more workers.they must increase wage for the last worker and all the ones before; this means the marginal cost of laboure is higher than the average wage rate（the average cost)

 

[hychristine]

could you please tell me the correct diagram of MRP.
thanks

you don't need to draw a diagram when u expl MRP...

u can seen from the diagram i posted... the DL is MRPL...that is... MRPL equal to Demand for labour.

 

[patricia8686]

Discuss GDP. Definition and formula (C+I+G+(X-M)).

Then write a bit about Real GDP per capita that it takes into concern inflation as well as population. However some serious problems underlie.

Problems with measuring gdp:
1. non marketed items
2. underground/hidden economy
3. public sector goods such as national defense are not included

Then write about how production is not a good indicator of standard of living:
1. Production not equal to consumption (exports do not benefit local consumers)
2. Quality of goods and services (quality can improve overtime with a fall in price- cars today give more utility yet are cheaper)
3. Externalities (pollution, ozone depletion etc lower the standard of living)
4. Distribution of income

Talk about the working of ALTERNATIVE MEASURES: MEW and HDI

Conclusion: While gdp measures serve well to determine the national output and general level of progress, they have limitations to serve as measures of welfare and standard of living. Hence, alternative measures such as MEW and HDI should also be considered while making comparisons overtime and across countries

can you tell how what to write in "Then write a bit about Real GDP per capita that it takes into concern inflation as well as population. However some serious problems underlie."???

 

[Qamar Baloch]

could you please tell me the correct diagram of MRP.
thanks

Nice work

 

[Qamar Baloch]

can you tell how what to write in "Then write a bit about Real GDP per capita that it takes into concern inflation as well as population. However some serious problems underlie."???

good effort. keep it up.