Consider the Labor Market for Nurses, Which Initially Is in Equilibrium

question 150

Multiple Choice

Consider the labor market for nurses, which initially is in equilibrium. Suppose the output price for nursing services increases. Holding all else equal, what effect will this have on the labor market for nurses?

• A) The equilibrium wage will increase, and the equilibrium quantity of nurses will increase.
• B) The equilibrium wage will increase, and the equilibrium quantity of nurses will decrease.
• C) The equilibrium wage will decrease, and the equilibrium quantity of nurses will increase.
• D) The equilibrium wage will decrease, and the equilibrium quantity of nurses will decrease.

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Definitions:

Gender-differentiated Values

The varying preferences, principles, and behaviors that cultures or societies ascribe to different genders.

Patronized

Treated with an apparent kindness that betrays a feeling of superiority.

GLOBE Model

stands for Global Leadership and Organizational Behavior Effectiveness, a study focusing on how cultural variables affect business practice and leadership.

Participative Approaches

Leadership or management styles that involve employees in decision making and problem-solving processes, fostering a sense of ownership and collaboration.