tammy7
Badges: 0
Rep:
?
#1
Report Thread starter 4 years ago
#1
I need to construct an answer for why increasing the national minimum wage would lift people out of working poverty and boost the standard of living.

can someone help me construct an answer with sources and correct stats?
0
reply
3121
Badges: 21
Rep:
?
#2
Report 4 years ago
#2
This isn't a hard question, you should be able to do it.. google is helpful for statistics, refer to your textbook for the theory.. sorry but doing what you've asked would mean you're not learning or doing any work
0
reply
dragonkeeper999
Badges: 17
Rep:
?
#3
Report 4 years ago
#3
(Original post by tammy7)
I need to construct an answer for why increasing the national minimum wage would lift people out of working poverty and boost the standard of living.

can someone help me construct an answer with sources and correct stats?
Have a look online or in textbooks...

Personally, I would start of by thinking about the fact that everyone in work would have more money, thus helping to bring them out of poverty. However, the higher cost of hiring people may mean that unemployment goes up and the cost of products go up. etc.
0
reply
tammy7
Badges: 0
Rep:
?
#4
Report Thread starter 4 years ago
#4
It is for my higher modern studies assignment and as one of my points I need to write ways it would lift people out of poverty as I have already written about the other stuff. Any ideas of what to write?
0
reply
The Financier
Badges: 21
Rep:
?
#5
Report 4 years ago
#5
(Original post by tammy7)
I need to construct an answer for why increasing the national minimum wage would lift people out of working poverty and boost the standard of living.

can someone help me construct an answer with sources and correct stats?
Use a standard supply demand graph that includes a price floor (which is what a NMW is). If you set the price floor above equilibrium (again, it's a safe assumption that a NMW is above equilibrium), you can argue that for those people who have jobs, they receive more money than they would under pure market conditions.

For evaluation, look at the flipside of NMW policies - i.e. that by no longer being at equilibrium, you create a surplus in supply and consequently have unemployment. It's also possible to argue that empirical evidence suggests the case for this flipside isn't terribly strong, or that the surplus in supply isn't particularly big (given that several countries have NMWs and pretty low unemployment).
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Would you consider Adjustment if your grades were higher than you expected?

Yes, I'd look at higher ranking universities than my current choices (123)
43.01%
Yes, I'd look for a course or uni that is a better fit for me (45)
15.73%
No, I'd stick with my current uni choice (113)
39.51%
Something else (let us know in the thread below!) (5)
1.75%

Watched Threads

View All
Latest
My Feed