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

question 112

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.
In the long run,if the nursing market is perfectly competitive,the demographic shift that increases the demand for nurses is likely to

• A)cause nurses' wages to increase,providing a greater incentive to choose nursing as a career.
• B)cause the working conditions of nurses to worsen,providing a disincentive to choose nursing as a career.
• C)cause a persistent shortage of nurses because the market undervalues nurses.
• D)shift back to the original demand as needs are unmet.

Discuss the Laffer curve and its implications for tax policy and government revenue.

Analyze the effectiveness of discrete aggregate demand policies versus policy rules in economic management.

Understand the different viewpoints on the stability of the capitalist economy and the role of competition within it.

Understand the basic principles of monetarism and its approach to managing the economy.

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Definitions:

Inpatient Days

The total number of days that patients spend admitted to a hospital or healthcare facility for treatment.

Net Profit

The actual profit after working expenses not included in the calculation of gross profit have been paid.

Operating Leverage Factor

A measure indicating how a company's fixed costs relate to its variable costs, impacting profitability as sales levels change.

Contribution Margin

The contribution margin is the amount by which the sales revenue of a product or service exceeds its variable costs, indicating how much contributes to covering fixed costs and generating profit.