An increase in the number of nursing homes and community health centers and the expansion of home care has led to an increase in the demand for nurses. At the same time, improving opportunities for women in business have reduced the supply of nurses. Hospitals, the major employers of nurses, have resisted wage increases. The resulting situation could be described as
a. the cost disease of the service sector.
b. a shortage of nurses.
c. the problem of auxiliary restrictions.
d. the wage floor problem.
b
Economics
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According to this Application, more years of work would be required to pay off a student loan if all prices
A) increased by 20 percent. B) remained stable. C) increased by 40 percent. D) decreased by 10 percent.
Economics
In the Primary Metals industry, it is estimated that the elasticity of output with respect to labor is 0.51 and the elasticity of output with respect to capital is 0.73
These two measures indicate that the primary metals industry is characterized by A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) no returns to scale.
Economics