Consider the labor market for heath care workers,which is in equilibrium.Because of the aging population in the United States,the output price for health care services has increased.Holding all else equal,what effect does this have on the labor market for health care employees?

Question

Quizplus · Accepted Answer

An increase in the output price for health care services will increase the demand for health care workers, as providers will need to hire more workers to meet the needs of the aging population. This will shift the demand curve for health care workers to the right, leading to an increase in the equilibrium wage and the equilibrium quantity of labor. Holding all else equal, this is the most likely outcome in the labor market for health care employees.

Consider the Labor Market for Heath Care Workers,which Is in Equilibrium.Because