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Economics A Level (DONEEEEEEE)

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Pregunta:

What is Real Wage Unemployment? Use a Supply and Demand Diagram

Autor: eric_galvao



Respuesta:

-This is when Real Wages are Pushed ABOVE the Equilibrium Level of Employment [Supply = Demand] This is due to Trade Unions wanting Higher Wages, or the National Minimal Wage [NMW] -NMW above the Equilibrium Wage [Minimal Price] means there will be a Excess in Supply, and thus Unemployment between the Amount Supplied and Amount Demanded


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-This is when Real Wages are Pushed ABOVE the Equilibrium Level of Employment [Supply = Demand] This is due to Trade Unions wanting Higher Wages, or the National Minimal Wage [NMW]
-NMW above the Equilibrium Wage [Minimal Price] means there will be a Excess in Supply, and thus Unemployment between the Amount Supplied and Amount Demanded
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