Demographers Predict That the Average Age of the Population of the U.S.will

question 22

Multiple Choice

Demographers predict that the average age of the population of the U.S.will increase.One result will be an increase in the demand for nurses.Assume that the graph below describes the current nursing labor market in a mid-sized city,and that the market is a competitive one.
The shift in supply from Supply A to the current Supply means that if demand increases as predicted (to Demand,predicted)

• A)wages will have to rise to $60 to avoid a nursing shortage.
• B)wages will have to rise to $50 to avoid a nursing shortage.
• C)a wage of $40 will be sufficient to achieve equilibrium.
• D)a wage of $50 will yield an excess supply of nurses.