The government of Bellmere plans to raise the minimum hourly wage paid to workers.
| Indicator | Figure |
|---|---|
| Current minimum hourly wage | £11.20 |
| Proposed minimum hourly wage | £12.60 |
| Workers expected to receive a pay rise | 1.6 million |
| Low-income households with no adult in paid work | 32% |
| Labour costs for firms employing many affected workers | 58% of total costs |
Evaluate the likely impact of raising the minimum hourly wage on Bellmere's economy.
64 exam-style questions on OCR GCSE Economics 3.3 Fair distribution of income, covering 3.3.1 Distribution of income and wealth, 3.3.2 Calculate income and wealth, and 3.3.3 Causes and consequences of income differences. Each one has a worked solution and a mark scheme showing where the marks go.