MYTUTOR SUBJECT ANSWERS

407 views

How can I show the impact of a NMW on employment using a supply and demand graph?

You'd need to draw your pair of axes, labelling the vertical one "wages" and the horizontal one "quantity of workers". Your labour demand and supply curves should look like normal demand and supply curves. The National Minimum Wage (NMW) would be a horizontal line above the equilbrium point. This NMW intersects twice with the pair of axes, the distance between both intersections is your excess labour supply - i.e. the number of unemployed workers in this economy.

Martin G. A Level Economics tutor, GCSE English tutor, GCSE French tu...

10 months ago

Answered by Martin, who has applied to tutor A Level Economics with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

57 SUBJECT SPECIALISTS

£36 /hr

Adam D.

Degree: Economics and Management (Bachelors) - Bristol University

Subjects offered:Economics, Maths

Economics
Maths

“I am a second year undergraduate student at the University of Bristol, studying Economics and Management. I achieved A* in Economics and Maths A-levels and an A* at maths GCSE so would be very happy to help any students who are studyi...”

£20 /hr

Rebecca M.

Degree: BSc Economics (Bachelors) - Leeds University

Subjects offered:Economics, English Literature+ 2 more

Economics
English Literature
-Personal Statements-

“Hi! I'm Rebecca. I'm a first year Economics Student at the University of Leeds. I have 3 years of previous tutoring experience and I'm excited to share my passion for Economics and English Literature with you. Whether you need assista...”

£20 /hr

Elliot G.

Degree: Economics and Finance (Bachelors) - Exeter University

Subjects offered:Economics, Maths

Economics
Maths

“Striving to improve academic abilities and confidence through tailored tutorials -catering to the student’s needs. Feel free to contact for further information.”

MyTutor guarantee

About the author

£20 /hr

Martin G.

Degree: Economics (Bachelors) - LSE University

Subjects offered:Economics, Physics+ 1 more

Economics
Physics
Maths

“Top tutor from the renowned Russell university group, ready to help you improve your grades.”

MyTutor guarantee

You may also like...

Other A Level Economics questions

What effect would a fall in the interest rate have on GDP?

How can the division of labour affect productivity?

Explain what is meant by a semi-fixed exchange rate? With reference to the BBC news story in the link below, explain why the Nigerian central bank increased interest rates and devalued their currency (the naira)?

Why might a perfectly competitive firm make abnormal profit in the short run but only normal profit in the long run?

View A Level Economics tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok