Real Wage Unemployment Explained I A-Level and IB Economics скачать в хорошем качестве

Real Wage Unemployment Explained I A-Level and IB Economics

In this episode, Geoff Riley, Co-Founder of tutor2u, dives into the phenomenon of Real Wage Unemployment. Discover how wages set above equilibrium levels can impact labor markets and explore the factors behind "sticky wages." Using UK-specific examples, we’ll unpack key insights for A-Level and IB Economics students, empowering you to excel in your exams and deepen your understanding of the UK economy. Key Content and What You'll Learn: What Is Real Wage Unemployment? Understand how wages set above equilibrium levels lead to an excess supply of labour and unemployment. The Role of Sticky Wages Learn why wages often resist downward adjustment due to legislation, worker expectations, and social norms. Impact of Minimum Wage Policies Analyze how rising statutory minimum wages in the UK can exacerbate real wage unemployment in low-margin sectors. Real Wage Unemployment in the UK Explore how the UK's flexible labor market and declining union density mitigate the risk of persistent real wage unemployment. Key Diagrams: Equilibrium Wage vs. Real Wage Master the essential economic diagrams illustrating labor market equilibrium and disequilibrium due to real wage rigidity. If you found this analysis valuable, don’t forget to hit the like button and subscribe to the tutor2u channel. Enable notifications by clicking the bell icon so you’re always up to date with the latest videos in our UK Economy Update Series. Your journey to exam success starts here! #exams2025 #examsuccess #economics #economicssuccess #ukeconomy #topgrades #microeconomics #tutor2u #EconTeachers #AQA #Edexcel #OCR #IBEconomics #Wages #StickyWages #LabourMarket #Unemployment #RealWages #KeynesianEconomics