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.

---

Definitions:

Entrepreneur

An individual who creates, organizes, and manages a business venture, taking on greater than normal financial risks in order to do so.

Habit-breaking Strategies

Techniques or plans designed to help individuals break free from habitual behaviors or patterns that they find undesirable.

Idea Generation

The process of coming up with, refining, and disseminating fresh ideas.

Strategy

A plan of action designed to achieve a long-term or overall aim.