Consider the Labor Market for Heath Care Workers

question 174

Multiple Choice

Consider the labor market for heath care workers. Because of the aging population in the United States, the output price for health care services has increased. Holding all else equal, the equilibrium wage of health care employees would

• A)increase.
• B)decrease.
• C)not change.
• D)It is not possible to determine what happens to the equilibrium wage.

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Definitions:

Physiological

Refers to the functions and activities of living organisms and their parts, including all physical and chemical processes.

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.

Self-actualization

A psychological concept referring to an individual achieving their full potential, fulfilling creative abilities, and seeking personal growth.

Social

Relating to society or its organization.