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hour worked."},{"text":"A legally recommended minimum hourly wage that employers should normally pay.","correct":false,"explanation":"A recommendation is not legally enforceable, so employers could ignore it. The national minimum wage is a legally enforced minimum hourly wage that employers must pay."},{"text":"A legally enforced maximum hourly wage that employers must not exceed.","correct":false,"explanation":"This reverses a minimum wage with a maximum wage. The national minimum wage sets the lowest legal hourly payment employers may make, not the highest."},{"text":"A voluntary minimum annual salary agreed between employers and trade unions.","correct":false,"explanation":"The national minimum wage is compulsory and calculated hourly, rather than voluntary and annual. It applies as a legal minimum payment employers must provide."}]},{"id":"a72dded9-5de7-4751-be8e-b0af94d59471","cardType":"basic","points":1,"front":"What type of intervention is a national minimum wage?","back":"A **price floor** set above the equilibrium wage.","mcqOptions":[{"text":"A **price floor** set above the equilibrium wage.","correct":true,"explanation":"A national minimum wage prevents the price of labour from falling below a legal level. When set above equilibrium, it acts as a binding price floor."},{"text":"A price ceiling set above the equilibrium wage.","correct":false,"explanation":"A price ceiling is a maximum price and would restrict how high wages could rise. A minimum wage is a price floor set above equilibrium when binding."},{"text":"A price floor set below the equilibrium wage.","correct":false,"explanation":"A floor below equilibrium does not constrain the market and is non-binding. A binding national minimum wage is a price floor set above the equilibrium wage."},{"text":"A subsidy paid directly to employers below the equilibrium wage.","correct":false,"explanation":"A subsidy changes firms’ costs but is not the defining intervention here. A national minimum wage is a price floor imposed above the equilibrium wage."}]},{"id":"2aaea8b7-619d-465e-a293-294c766ddddd","cardType":"basic","points":2,"front":"Why can a binding minimum wage create unemployment in a competitive labour market?","back":"The wage rises above equilibrium, causing **quantity supplied to exceed quantity demanded**.","mcqOptions":[{"text":"The wage rises above equilibrium, causing **quantity supplied to exceed quantity demanded**.","correct":true,"explanation":"A binding wage floor raises the wage above equilibrium. More workers want jobs while firms demand fewer workers, so quantity supplied exceeds quantity demanded."},{"text":"The wage falls below equilibrium, causing quantity demanded to exceed quantity supplied.","correct":false,"explanation":"This describes a wage below equilibrium, not a binding minimum wage. The legal wage rises above equilibrium, causing quantity supplied to exceed quantity demanded."},{"text":"The wage rises above equilibrium, causing quantity demanded to exceed quantity supplied.","correct":false,"explanation":"Higher wages encourage labour supply but discourage firms from hiring, so this relationship is reversed. The correct result is quantity supplied exceeding quantity demanded."},{"text":"The wage remains at equilibrium, causing quantity supplied to equal quantity demanded.","correct":false,"explanation":"A minimum wage set above equilibrium changes the market outcome rather than leaving it untouched. It creates excess labour supply because quantity supplied exceeds quantity demanded."}]},{"id":"2187718f-5e95-4f64-857b-1a17a8d5ee09","cardType":"basic","points":1,"front":"What determines the size of job losses from a minimum wage?","back":"The **elasticity of labour demand** determines how much employment falls after a wage floor is introduced.","mcqOptions":[{"text":"The **elasticity of labour demand** determines how much employment falls after a wage floor is introduced.","correct":true,"explanation":"Elastic labour demand means firms reduce employment substantially when wages rise, while inelastic demand means a smaller employment reduction after the wage floor is introduced."},{"text":"The elasticity of labour supply determines how much employment falls after a wage floor is introduced.","correct":false,"explanation":"Labour supply affects how many people seek work, but the fall in jobs offered is determined mainly by firms’ response to higher wages - labour-demand elasticity."},{"text":"The level of labour productivity determines how much employment falls after a wage floor is introduced.","correct":false,"explanation":"Productivity can influence firms’ willingness to hire, but the size of the employment response to a wage rise is determined by the elasticity of labour demand."},{"text":"The number of trade unions determines how much employment falls after a wage floor is introduced.","correct":false,"explanation":"Trade-union coverage may affect wage bargaining, but it does not directly determine the size of job losses. That depends on the elasticity of labour demand."}]},{"id":"28a32d2a-d622-47b9-9f02-7fdbe69f6953","cardType":"basic","points":3,"front":"What happens to pay and employment when the care-home monopsonist faces an $\u00020;11$ minimum wage?","back":"

Wage: $\u00020;9$ to $\u00020;11$ per hour
Employment: $8{,}000$ to $9{,}500$ staff

","mcqOptions":[{"text":"

Wage: $\u00020;9$ to $\u00020;11$ per hour
Employment: $8{,}000$ to $9{,}500$ staff

","correct":true,"explanation":"A suitable minimum wage raises pay to the legal rate and can expand monopsony employment. Here, the wage rises from 9 to 11 per hour while employment rises from 8,000 to 9,500."},{"text":"

Wage: $0;9$ to $0;11$ per hour
Employment: $9{,}500$ to $8{,}000$ staff

","correct":false,"explanation":"The wage change is correct, but employment is reversed. A suitable minimum wage removes the monopsonist’s incentive to restrict hiring, so employment rises from 8,000 to 9,500 staff."},{"text":"

Wage: $0;11$ to $0;9$ per hour
Employment: $8{,}000$ to $9{,}500$ staff

","correct":false,"explanation":"This reverses the wage effect. Introducing the minimum raises the care-home wage to 11 per hour, while employment increases from 8,000 to 9,500 staff."},{"text":"

Wage: $0;9$ to $0;11$ per hour
Employment: $8{,}000$ to $8{,}500$ staff

","correct":false,"explanation":"The wage movement is right, but the employment increase is understated. In this example, employment rises by 1,500 staff, from 8,000 to 9,500."}]},{"id":"8a17f4e3-d2b7-49f8-bddd-eb3704eb5ee5","cardType":"basic","points":2,"front":"Why can a minimum wage raise employment in a monopsony?","back":"The minimum wage removes the monopsonist's incentive to restrict hiring to hold down its wage bill.","mcqOptions":[{"text":"The minimum wage removes the monopsonist's incentive to restrict hiring to hold down its wage bill.","correct":true,"explanation":"At the legal wage, the monopsonist can hire additional workers without raising the wage for all existing staff. This removes the incentive to restrict employment to suppress wages."},{"text":"The minimum wage increases the monopsonist's incentive to restrict hiring to keep its wage bill low.","correct":false,"explanation":"This applies the competitive-market prediction too broadly. A suitable minimum wage can make extra hiring cheaper at the margin, removing the monopsonist’s incentive to restrict hiring."},{"text":"The minimum wage shifts the labour supply curve left, so fewer workers are willing to work.","correct":false,"explanation":"A legal wage floor does not necessarily reduce workers’ willingness to supply labour. In a monopsony, it can increase employment by preventing wage suppression."},{"text":"The minimum wage makes the marginal revenue product of labour rise automatically.","correct":false,"explanation":"The marginal revenue product depends on the value of workers’ output and does not automatically rise because of a wage law. Employment can increase through changed hiring incentives."}]},{"id":"92db67db-2234-4899-86e7-1297e561f6ad","cardType":"basic","points":2,"front":"What is the effect of a suitable minimum wage in a monopsony?","back":"It can raise both **wages and employment** up to the competitive wage.","mcqOptions":[{"text":"It can raise both **wages and employment** up to the competitive wage.","correct":true,"explanation":"A suitable minimum wage limits monopsony wage suppression and can encourage more hiring. Employment and wages may therefore rise together, potentially reaching the competitive outcome."},{"text":"It can raise wages but reduce employment below the monopsony level.","correct":false,"explanation":"That is the standard competitive-market prediction, but not necessarily the monopsony result. A suitable minimum wage can remove restricted hiring and raise employment as well as wages."},{"text":"It can reduce both wages and employment below the monopsony level.","correct":false,"explanation":"A minimum wage cannot reduce the legal wage below the existing monopsony wage in this example. A suitable rate raises wages and can also increase employment."},{"text":"It can raise both wages and employment above the competitive wage.","correct":false,"explanation":"The competitive wage is the relevant upper benchmark in the standard model. A suitable minimum wage may raise both outcomes up to that level, but not above it."}]},{"id":"2b45d735-da35-4378-bd54-9898b05f1773","cardType":"basic","points":2,"front":"What happens if a monopsonist faces a minimum wage above the competitive wage?","back":"It moves up its demand curve and reduces the quantity of labour demanded.","mcqOptions":[{"text":"It moves up its demand curve and reduces the quantity of labour demanded.","correct":true,"explanation":"Above the competitive wage, the monopsonist faces a higher wage and chooses fewer workers along its downward-sloping labour-demand curve, reducing the quantity of labour demanded."},{"text":"It moves down its demand curve and increases the quantity of labour demanded.","correct":false,"explanation":"A higher wage does not cause movement down the demand curve. It causes movement up the curve, where the monopsonist demands a smaller quantity of labour."},{"text":"It moves up its supply curve and increases the quantity of labour supplied.","correct":false,"explanation":"The firm’s hiring decision is represented by labour demand, not the workers’ supply curve. A wage above the competitive level causes movement up demand and lower labour demanded."},{"text":"It shifts its demand curve right and increases the quantity of labour demanded.","correct":false,"explanation":"The minimum wage does not automatically shift labour demand right. A higher wage produces movement along demand, reducing the quantity of labour demanded."}]},{"id":"a7d74265-0993-4431-9d2b-4337de8f514a","cardType":"basic","points":3,"front":"What determines whether a minimum wage increases unemployment?","back":"The minimum wage need not increase unemployment; the effect depends on **elasticity** and **market structure**.","mcqOptions":[{"text":"The minimum wage need not increase unemployment; the effect depends on **elasticity** and **market structure**.","correct":true,"explanation":"In a competitive market, a binding wage floor may create unemployment, while in a monopsony a suitable rate can increase employment. Elasticity also affects the size of the response."},{"text":"The minimum wage always increases unemployment because it raises firms’ wage costs.","correct":false,"explanation":"Higher wage costs can reduce hiring in competitive markets, but unemployment is not inevitable. In a monopsony, a suitable minimum wage can increase both wages and employment."},{"text":"The minimum wage never increases unemployment because higher wages always raise worker productivity.","correct":false,"explanation":"Higher wages may improve incentives and productivity, but they do not guarantee more jobs. Unemployment depends on labour-demand elasticity and the structure of the labour market."},{"text":"The minimum wage increases unemployment only when labour supply is perfectly inelastic.","correct":false,"explanation":"Unemployment from a binding wage floor is mainly related to labour demand and market structure, not only perfectly inelastic labour supply. The outcome can vary across markets."}]},{"id":"df583e3e-4c71-4153-aa74-7f15236954d4","cardType":"basic","points":3,"front":"What are the main advantages and disadvantages of a minimum wage?","back":"

Advantages: cuts poverty, sharpens incentives, raises productivity
Disadvantages: may reduce jobs, raise costs, cause cost-push pressure

","mcqOptions":[{"text":"

Advantages: cuts poverty, sharpens incentives, raises productivity
Disadvantages: may reduce jobs, raise costs, cause cost-push pressure

","correct":true,"explanation":"Minimum wages can increase low-paid workers’ incomes, strengthen work incentives and productivity, but may also reduce employment, raise business costs and contribute to cost-push inflation."},{"text":"

Advantages: cuts poverty, lowers incentives, raises productivity
Disadvantages: may create jobs, lower costs, cause cost-push pressure

","correct":false,"explanation":"This reverses several effects. Higher pay can sharpen incentives, while increased labour costs may reduce jobs and raise prices, creating cost-push pressure."},{"text":"

Advantages: raises unemployment, sharpens incentives, lowers productivity
Disadvantages: may reduce jobs, lower costs, cause demand-pull pressure

","correct":false,"explanation":"Unemployment and lower productivity are potential disadvantages, not advantages, while higher costs create cost-push rather than demand-pull inflation. The correct list distinguishes these effects."},{"text":"

Advantages: cuts poverty, raises tax revenue, stabilises prices
Disadvantages: may reduce jobs, lower wages, reduce productivity

","correct":false,"explanation":"These are not the main standard effects identified in the example. Minimum wages can sharpen incentives and raise productivity, but may raise costs and cause cost-push pressure."}]},{"id":"3eeb71cb-8f89-4d7f-bc00-26b7fc743072","cardType":"basic","points":2,"front":"In the cafe example, what happens to employment at the $\u00020;11$ minimum wage?","back":"The quantity of labour demanded falls to $9{,}000$, a loss of $1{,}000$ jobs.","mcqOptions":[{"text":"The quantity of labour demanded falls to $9{,}000$, a loss of $1{,}000$ jobs.","correct":true,"explanation":"At the 11 per hour minimum wage, firms demand 9,000 workers instead of the previous 10,000. The difference is therefore a loss of 1,000 jobs."},{"text":"The quantity of labour demanded falls to $8{,}000$, a loss of $2{,}000$ jobs.","correct":false,"explanation":"This confuses the cafe example with a different employment figure or doubles the job loss. The stated demand at the minimum wage is 9,000, a fall of 1,000 jobs."},{"text":"The quantity of labour demanded rises to $11{,}000$, a gain of $1{,}000$ jobs.","correct":false,"explanation":"A higher wage normally reduces quantity demanded in the competitive cafe example. Demand falls to 9,000 workers, creating a loss of 1,000 jobs rather than a gain."},{"text":"The quantity of labour demanded remains at $10{,}000$, with no loss of jobs.","correct":false,"explanation":"This assumes the minimum wage has no effect on firms’ hiring. At 11 per hour, quantity demanded falls to 9,000, so 1,000 jobs are lost."}]},{"id":"449db600-b4f4-4d08-b7ab-e989f88d7317","cardType":"basic","points":2,"front":"In the cafe example, how many workers are in excess supply at the $\u00020;11$ minimum wage?","back":"$$11{,}000 - 9{,}000 = 2{,}000$ workers.","mcqOptions":[{"text":"$$11{,}000 - 9{,}000 = 2{,}000$ workers.","correct":true,"explanation":"Excess supply equals the number willing to work minus the number firms want to employ. At the minimum wage, that is 11,000 minus 9,000, giving 2,000 workers."},{"text":"$$11{,}000 - 10{,}000 = 1{,}000$ workers.","correct":false,"explanation":"This uses the original employment level rather than quantity of labour demanded at the minimum wage. Excess supply must be calculated as 11,000 minus 9,000, giving 2,000."},{"text":"$$9{,}000 - 11{,}000 = -2{,}000$ workers.","correct":false,"explanation":"The subtraction is reversed, producing a negative figure that cannot represent the number of workers in excess supply. Supply minus demand gives 11,000 minus 9,000, or 2,000."},{"text":"$$11{,}000 + 9{,}000 = 20{,}000$ workers.","correct":false,"explanation":"Excess supply is the gap between labour supplied and labour demanded, so the figures must be subtracted rather than added. The gap is 2,000 workers."}]},{"id":"b07ba449-48b6-4000-ba28-fc20815e5458","cardType":"basic","points":2,"front":"What does the $2{,}000$ excess supply of labour represent in the cafe example?","back":"Classical unemployment: workers want a job at $\u00020;11$ per hour but cannot find one.","mcqOptions":[{"text":"Classical unemployment: workers want a job at $\u00020;11$ per hour but cannot find one.","correct":true,"explanation":"The wage floor leaves more people willing to work than firms willing to hire. Those workers are involuntarily unemployed at the legally enforced wage, which is classical unemployment."},{"text":"Frictional unemployment: workers are temporarily changing jobs at $0;11$ per hour.","correct":false,"explanation":"Frictional unemployment results from normal job search and transitions, not an excess supply created by a wage floor. Here, workers want jobs at 11 per hour but cannot find them."},{"text":"Voluntary unemployment: workers refuse every job paying below $0;11$ per hour.","correct":false,"explanation":"Although workers may reject lower-paid jobs, the example focuses on workers unable to obtain jobs at the legal wage. This involuntary excess supply is classical unemployment."},{"text":"Cyclical unemployment: firms have reduced hiring because national output has fallen.","correct":false,"explanation":"Cyclical unemployment is caused by a downturn in aggregate demand, which is not the mechanism in this example. The excess supply caused by the wage floor is classical unemployment."}]},{"id":"66b0c061-2e32-4c76-8727-1501c078afc9","cardType":"basic","points":1,"front":"What are the competitive wage and employment levels in the care-home example?","back":"The competitive wage and employment are $\u00020;11$ per hour and $9{,}500$ staff.","mcqOptions":[{"text":"The competitive wage and employment are $\u00020;11$ per hour and $9{,}500$ staff.","correct":true,"explanation":"The competitive outcome occurs where labour supply and demand determine the market wage and employment. In this care-home example, those values are 11 per hour and 9,500 staff."},{"text":"The competitive wage and employment are $0;9$ per hour and $8{,}000$ staff.","correct":false,"explanation":"These are the monopsony wage and employment before intervention, not the competitive outcome. Competition gives a wage of 11 per hour and employment of 9,500 staff."},{"text":"The competitive wage and employment are $0;11$ per hour and $8{,}000$ staff.","correct":false,"explanation":"The wage is correct, but the employment figure is the pre-intervention monopsony level. The competitive employment level is higher, at 9,500 staff."},{"text":"The competitive wage and employment are $0;9$ per hour and $9{,}500$ staff.","correct":false,"explanation":"This combines the monopsony wage with the competitive employment level. The competitive outcome requires both values: 11 per hour and 9,500 staff."}]},{"id":"841df828-5d28-4d8b-9edb-62db3a5d2d45","cardType":"basic","points":2,"front":"How is monopsony employment determined before a minimum wage?","back":"Without intervention, employment is where **MCL meets MRP**, with the wage read from the supply curve.","mcqOptions":[{"text":"Without intervention, employment is where **MCL meets MRP**, with the wage read from the supply curve.","correct":true,"explanation":"A monopsonist hires where the marginal cost of labour equals the marginal revenue product. The wage corresponding to that employment is then read from the labour supply curve."},{"text":"Without intervention, employment is where MC meets AR, with the wage read from the demand curve.","correct":false,"explanation":"This uses a product-market profit rule and the wrong wage curve. Monopsony employment is determined where marginal cost of labour meets marginal revenue product, with wage read from supply."},{"text":"Without intervention, employment is where MCL meets MRP, with the wage read from the demand curve.","correct":false,"explanation":"The employment condition is correct, but the monopsony wage is found on the labour supply curve, which shows the wage needed to attract each quantity of labour."},{"text":"Without intervention, employment is where ACL meets ARP, with the wage read from the supply curve.","correct":false,"explanation":"Average rather than marginal values do not determine the profit-maximising employment decision. The monopsonist hires where MCL equals MRP, then reads the wage from supply."}]},{"id":"1319deed-387e-40d8-b0ec-70a97f8fa727","cardType":"basic","points":2,"front":"How does a minimum wage change the effective supply and MCL curves in a monopsony diagram?","back":"The horizontal minimum wage segment becomes the **effective supply and MCL curve** until the original curves resume.","mcqOptions":[{"text":"The horizontal minimum wage segment becomes the **effective supply and MCL curve** until the original curves resume.","correct":true,"explanation":"At the imposed wage, the firm can hire additional workers without raising the wage, so marginal labour cost is horizontal and equals the minimum wage until the original curves resume."},{"text":"The horizontal minimum wage segment becomes the effective demand and MRP curve until the original curves resume.","correct":false,"explanation":"The minimum wage changes the firm’s effective labour cost, not its marginal revenue product or labour demand. The horizontal section is the effective supply and MCL curve."},{"text":"The horizontal minimum wage segment becomes the effective supply and MCL curve above the point where the original curves resume.","correct":false,"explanation":"The horizontal section applies up to the point where the original supply and MCL curves resume, not above it. The direction of the segment’s range is reversed here."},{"text":"The horizontal minimum wage segment becomes the effective supply curve only until the original curves resume.","correct":false,"explanation":"At the imposed wage, the firm’s marginal cost of hiring is also horizontal because extra workers can be hired at the same rate. Therefore the segment represents both effective supply and MCL."}]},{"id":"4503abd9-2e4b-4ddb-84f1-98da53d020d4","cardType":"basic","points":1,"front":"In a competitive labour market, what does a binding minimum wage cause?","back":"In a competitive market, a binding wage floor causes excess supply of labour.","mcqOptions":[{"text":"In a competitive market, a binding wage floor causes excess supply of labour.","correct":true,"explanation":"A binding wage floor is above the competitive equilibrium wage, increasing labour supplied while reducing labour demanded. Consequently, the number seeking work exceeds the number of jobs available."},{"text":"In a competitive market, a binding wage floor causes excess demand for labour.","correct":false,"explanation":"This reverses the market imbalance. A binding wage floor raises the wage above equilibrium, causing firms to demand fewer workers and individuals to supply more labour, creating excess supply."},{"text":"In a competitive market, a binding wage floor causes equilibrium in the labour market.","correct":false,"explanation":"Equilibrium occurs where labour demand equals labour supply. A binding minimum wage is set above that point, so labour supplied exceeds labour demanded and unemployment emerges."},{"text":"In a competitive market, a binding wage floor causes excess supply of vacancies.","correct":false,"explanation":"Vacancies are unfilled jobs, not workers unable to find employment. Above the competitive wage, firms offer fewer jobs while more people seek work, producing excess labour supply."}]},{"id":"d7ca83fa-1eb3-4cdc-a090-26ae283e442f","cardType":"basic","points":1,"front":"What can a suitable minimum wage raise in a monopsony?","back":"In a monopsony, a suitable minimum wage can raise both wages and employment.","mcqOptions":[{"text":"In a monopsony, a suitable minimum wage can raise both wages and employment.","correct":true,"explanation":"A monopsonist restricts employment to keep wages below the competitive level. A suitably chosen minimum wage can limit this buying power and increase both pay and hiring."},{"text":"In a monopsony, a suitable minimum wage can raise wages but reduce employment.","correct":false,"explanation":"That is the standard prediction for a binding wage floor in a competitive market. In a monopsony, a suitable minimum can instead raise wages and employment simultaneously."},{"text":"In a monopsony, a suitable minimum wage can raise employment but reduce wages.","correct":false,"explanation":"A minimum wage places a floor under pay, so it does not achieve higher employment by reducing wages. At a suitable level, monopsony employment and wages can both rise."},{"text":"In a monopsony, a suitable minimum wage can raise profits and labour costs.","correct":false,"explanation":"Higher labour costs do not imply higher monopsony profit, particularly when the wage floor weakens the employer’s wage-setting power. The established result is higher wages and employment."}]},{"id":"00417a0a-2418-4b85-b7d6-139447199d23","cardType":"basic","points":1,"front":"The cafe has $9{,}000$ workers demanded and $11{,}000$ supplied at the minimum wage. What is the excess supply?","back":"At the $\u00020;11$ floor, the cafe's excess supply is $2{,}000$ workers.","mcqOptions":[{"text":"At the $\u00020;11$ floor, the cafe's excess supply is $2{,}000$ workers.","correct":true,"explanation":"Excess supply equals labour supplied minus labour demanded. Subtracting $9{,}000$ from $11{,}000$ gives $2{,}000$ workers seeking work beyond the number demanded."},{"text":"At the $0;11$ floor, the cafe's excess supply is $20{,}000$ workers.","correct":false,"explanation":"This adds labour demanded and supplied rather than finding the gap between them. Excess supply is $11{,}000-9{,}000$, which equals $2{,}000$ workers."},{"text":"At the $0;11$ floor, the cafe's excess supply is $1{,}000$ workers.","correct":false,"explanation":"This understates the difference between the two quantities, commonly through dropping a thousand during subtraction. The correct calculation is $11{,}000-9{,}000=2{,}000$ workers."},{"text":"At the $0;11$ floor, the cafe's excess supply is $9{,}000$ workers.","correct":false,"explanation":"This mistakes the quantity of labour demanded for the market surplus. Excess supply is the supplied quantity minus the demanded quantity, giving $2{,}000$ workers."}]},{"id":"f80e2662-7897-4db8-83e9-bcd380125d13","cardType":"basic","points":1,"front":"What is the excess supply when labour demanded is $9{,}200$ and labour supplied is $10{,}800$?","back":"If quantity demanded is $9{,}200$ and quantity supplied is $10{,}800$, excess supply equals $1{,}600$ workers.","mcqOptions":[{"text":"If quantity demanded is $9{,}200$ and quantity supplied is $10{,}800$, excess supply equals $1{,}600$ workers.","correct":true,"explanation":"Excess supply is calculated by subtracting quantity demanded from quantity supplied. Therefore, $10{,}800-9{,}200=1{,}600$ workers are willing to work but not demanded."},{"text":"If quantity demanded is $9{,}200$ and quantity supplied is $10{,}800$, excess supply equals $20{,}000$ workers.","correct":false,"explanation":"This adds the quantities rather than calculating their difference. Excess supply equals quantity supplied minus quantity demanded, so $10{,}800-9{,}200=1{,}600$ workers."},{"text":"If quantity demanded is $9{,}200$ and quantity supplied is $10{,}800$, excess supply equals $1{,}400$ workers.","correct":false,"explanation":"This subtraction error typically comes from mishandling the hundreds columns. Correctly borrowing gives $10{,}800-9{,}200=1{,}600$, which is the excess supply of workers."},{"text":"If quantity demanded is $9{,}200$ and quantity supplied is $10{,}800$, excess supply equals $9{,}200$ workers.","correct":false,"explanation":"This uses the quantity demanded itself rather than measuring the surplus. Excess supply is the difference between labour supplied and labour demanded, equal to $1{,}600$ workers."}]}]}],"examCountdown":{"examDate":"2027-05-10","paperLabel":"Paper 1"},"heading":"1.6.6 The National Minimum Wage","title":"1.6.6 The National Minimum Wage Flashcards","topbar":{"backHref":"/a-level/economics/aqa/flashcards"},"topicSidebar":"$L38"}]}],"topicId":"9a0bafa6-1215-5eb7-8055-0eeea4fe3309","walled":"$L39"}],"$L3a","$L3b"]