Government Intervention in Markets. Government Intervention in Markets. Working Time Directive. National Minimum Wage. National Minimum Wage. Wage Rate (£/per hour). S Lab. Min Wage. 4.90. Potential Unemployment.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Wage Rate (£/per hour)
Government imposes a minimum wage above equilibrium at £4.90 per hour for those over the age of 22
Demand for labour from employers falls, supply of labour (employees) rises
Assume that the current equilibrium wage rate is £3.00 per hour which is seen as being unacceptably low