Suppose the market wage of nurses is raised from $14 an hour to $18 an hour because of a comparable-worth program,which aims to equalize the wages earned by men and women for similar jobs.Which of the following would result from this policy?
A)There would be a surplus of nurses only if the demand for nurses is inelastic.
B)There would be a shortage of nurses.
C)There would be a surplus of nurses.
D)There would be a shortage of nurses only if the demand for nurses is inelastic.

Question

Quizplus · Accepted Answer

Raising the wage of nurses from $14 to $18 an hour would likely increase the supply of individuals willing to work as nurses while potentially decreasing the quantity of nurses that employers are willing to hire at the higher wage, leading to a surplus of nurses.

Suppose the Market Wage of Nurses Is Raised from $14