The Local Hospital Has Recently Been Acquired by a Larger

question 22

Multiple Choice

The local hospital has recently been acquired by a larger hospital corporation. The nurse manager encourages staff to attend the next unit meeting by hanging a poster announcing that the new wage scale and benefits package will be discussed. This is an example of which type of power?

• A) Referent power
• B) Information power
• C) Legitimate power
• D) Connection power

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Definitions:

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product, service, or commodity, usually intended to ensure fair conditions for producers.

Shortage/Surplus

A market condition where the quantity demanded exceeds the quantity supplied (shortage) or where the quantity supplied exceeds the quantity demanded (surplus).

Price Floor

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, often above the equilibrium price.

Shortage/Surplus

Economic conditions where the quantity of a good demanded exceeds its supply (shortage) or where supply exceeds demand (surplus).