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From course:

Economics A Level (DONEEEEEEE)

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Question:

How can the Government Intervene via the National Minimum Wage help tackle Poverty

Author: go kys



Answer:

-If set at a Reasonable Level, it can help Reduce Poverty amongst the lowest-paid workers, Provide an Incentive to work, and help those on Lower Incomes afford a Reasonable Standard of Living. -It can also Counteract Monopsony Power, which is another Cause of Poverty -But the NMW may affect Employment Levels, and thus a Rise in Poverty. Furthermore, an NMW won't Factor in the Cost of Living depending on where people live, so the Standard of Living for those on the NWM will Vary depending on where they live. -Those unemployed will be Forgotten!


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go kys
go kys