Figure 5 shows the population in Austria in the years 2000, 2008 and 2018. Figure 5 Monthly Spanish minimum wage increases In 2019, the monthly minimum wage in Spain increased by the largest percentage in over 40 years. It rose by around $$\(22 \%\)$$ compared to only a $$\(4 \%\)$$ rise the previous year. It was part of an annual review with a focus on 'making Spain great again'. The Spanish Prime Minister said that, 'A rich country should not have poor workers'. Figure 7 (c) With reference to the data above and your knowledge of economics, evaluate whether an increase in the minimum wage would benefit an economy such as Spain. (12)

Answer:

Knowledge points:

Solution: