#BernieSanders #MinimumWage #Unemployment
Bernie Sanders was recently caught out not paying his staff the minimum wage while campaigning for a $15 living wage. Let’s use this hilarious job to look at the labour supply and demand curve and understand the unemployment implications of introducing a minimum wage. Finally, let’s have a look at Australia’s minimum wage and introduce the Big Mac Index.
References
Minimum wage: How does Australia compare to other countries?
https://www.abc.net.au/news/2016-05-31/minimum-wage-how-does-australia-compare/7461794
Bernie Sanders campaign announces it will cut hours to pay staffers $15 minimum wage, prompting mockery
What Is the Big Mac Index?
https://www.investopedia.com/ask/answers/09/big-mac-index.asp
Big Mac Index