Author: Waleed Wisal

The economic prosperity of a nation is conceded with the aggregate demand. According to economists, the higher the period of aggregate demand higher the economic prosperity can be perceived in a nation. On other hand, lowering the phase of aggregate demand would lead to perceiving economic crises. Aggregate demand contributes significantly to the GDP growth of any nation around the globe. Aggregate demand is composed of four components, in a short version, these components are known as the composition of CIGX. Thus, researchers draw an equation of the aggregate demand…

The Minimum Wages (MW) were practically executed at the start of the 19th century. According to the IMF working paper, currently, 90% of all countries and their governments have legalized the laws for MW within their economies. However, the fundamentals to define their roles in all countries varies i.e. in most of the Developed Countries (DCs) the MW is set on an hourly basis and in ‘under’ or ‘Less Developed Countries (LDCs)’ it is set on a monthly basis for all workers. The minimum wage is the lowest possible wage…