Consider the Labor Market for Heath Care Workers,which Is in Equilibrium.Because

question 85

Multiple Choice

Consider the labor market for heath care workers,which is in equilibrium.Because of the aging population in the United States,the output price for health care services has increased.Holding all else equal,what effect does this have on the labor market for health care employees?

• A)The equilibrium wage increases, and the equilibrium quantity of labor increases.
• B)The equilibrium wage increases, and the equilibrium quantity of labor decreases.
• C)The equilibrium wage decreases, and the equilibrium quantity of labor increases.
• D)The equilibrium wage decreases, and the equilibrium quantity of labor decreases.

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An entity that brings goods or services into a country from abroad for sale.

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Statements that two ratios are equal, showing the equivalence between two sets of numbers or measurements.