Consider the Labor Market for Heath Care Workers

question 174

Multiple Choice

Consider the labor market for heath care workers. Because of the aging population in the United States, the output price for health care services has increased. Holding all else equal, the equilibrium wage of health care employees would

• A)increase.
• B)decrease.
• C)not change.
• D)It is not possible to determine what happens to the equilibrium wage.

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Definitions:

Photosynthetic

A process by which green plants and some other organisms use sunlight to synthesize foods from carbon dioxide and water, involving the green pigment chlorophyll.

Chloroplasts

Organelles found in plant cells and eukaryotic algae that conduct photosynthesis, converting light energy, water, and carbon dioxide into oxygen and glucose.

Bread Molds

Fungi, particularly in the genus Rhizopus, that grow on bread under humid conditions, causing spoilage.

Sac Fungi

A group of fungi characterized by their sac-like structures, called asci, where spores develop.