Question 4 1 Point if the government introduces a new higher minimum wage for hotel workers which is above the equilibrium wage in the industry, this is likely to lead to A shift in the demand for hotel workers to the right Excess supply of labour to the hotel sector A fall in the number of people wanting work in hotels D A lower equilibrium wage All of the above answers are true Question 5 1 Point In the commercial property market which of the following is most likely to shift the demand curve for commercial property to the right? An increase in the cost of building materials B New stricter planning regulations on construction companies An increase in profitability in all sectors of the economy D A fall in average wages of construction workers A fall in confidence in the economy Question 6 1 Point Which of the following is likely to increase the equilibrium price of a good but to lower the equilibrium quantity? A An increase in the number of suppliers in the market B A rise in average incomes An increase in production taxes D A fall in the price of a substitute good 6 Both B and D are correct