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7 marksWage Differentials

CAPE Economics Unit 1 · 2015 · Paper 2 · Question 5(c)

Using a well-labelled diagram, analyse the effect of a monopoly trade union in determining wages and the level of employment under perfect competition.

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Other parts of this question

  1. 5(a)(i)Define the term 'wage differentials'.[2 marks]
  2. 5(a)(ii)a)Identify TWO factors that may cause imperfections in the labour market on the demand side.[2 marks]
  3. 5(a)(ii)b)Identify TWO factors that may cause imperfections in the labour market on the supply side.[2 marks]
  4. 5(b)(i)Distinguish between 'geographical mobility' and 'occupational mobility'.[4 marks]
  5. 5(b)(ii)Discuss TWO effects of labour mobility on wages across different CARICOM territories.[8 marks]

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