At Existing Wage Rates, Hospitals Face a Shortage of Registered

question 247

Multiple Choice

At existing wage rates, hospitals face a shortage of registered nurses (RNs) .Some studies have suggested that an increase in RN wages will actually reduce the hours supplied by existing RNs, making it more difficult for hospitals to find RNs.Which of the following is likely the cause of these findings?

• A)Constant marginal productivity
• B)The cost disease
• C)A substitution effect larger than the income effect
• D)An income effect larger than the substitution effect

---

Definitions:

Factual Information

Data based on facts and real events, which can be proven true through evidence and observation.

Long-Term Memory

A type of memory responsible for the storage of information over extended periods, potentially for a lifetime, including facts, experiences, and skills.

Consolidation

The process of stabilizing a memory trace after its initial acquisition, making it less susceptible to forgetting and interference.

Durable Codes

Codes or systems designed to remain useful and intact over a long period, resisting wear or obsolescence.