Question:
What is Real Wage Unemployment? Use a Supply and Demand Diagram
Author: eric_galvaoAnswer:
-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](https://markdown.memory.com/eq_uploads/1110385/question_image_7b0dfb74-ebc8-4299-9f18-e8dc52342104.jpg)
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eric_galvao