SECDH B: 50 MARKS MB! Remember to mark only CINE alternative per question. Question 1.1 is based on the following diagram. E .M all '3 El E: E} Halibu- Mm When the wage rate equals W3, [1] this wage is above the equilibrium wage. [2] there is an excess supply of labour. [3} the number of employed increases compared to what happens at equilibn'um. [4] this wage causes both labour supply and labour demand caves to shift rightwards. [5] the number of employed remains unchanged at E1. 1.2 1Which of the following is NOT a unique characteristic of the labour market? [1] The worker is not a product but a human being. [2] The employer only purchases the services of the workers by means of a contractual relationship. [3] Workers are not standardized. since they are different in terms of skills. personality. etc. [4] Personality characteristics of the workers can be fully determined by the employer before employment starts. [5] Personality characteristics of the workers change over time. 10