Consider the Market for Nurses in a Given City

question 255

Essay

Consider the market for nurses in a given city.In each of the following cases, explain what happens to the equilibrium wage rate and the quantity of nurses hired.
a.One of the major hospitals in the city closes.
b.A record number of students graduate with bachelor's degrees in nursing.
c.Traditionally, nursing is a field that attracts women.However, changes in access to education and to the labor force participation rate by women have led to a greater demand for the services of women in a wide range of occupations.The demand for nurses, however, does not change.
d.Advances in medical technology reduce the amount of time physicians must spend with patients in intensive care and increase the time that nurses spend with patients.

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Definitions:

Behaviour

encompasses the actions and reactions of an individual or group in response to external or internal stimuli.

Law of Effect

A principle in psychology proposed by Edward Thorndike that suggests behaviors followed by satisfying outcomes are likely to be repeated, while those followed by unpleasant outcomes are less likely to recur.

Environmental Response

The reaction or adaptation of an entity (individual, community, or organization) to changes in its environmental conditions.

Monitoring Behaviours

The process of observing and assessing individuals' actions or performance to ensure conformity with standards or expectations.