The labor market for ultrasound technicians in Cleveland is initially in equilibrium. Which of the following would lead to a lower wage rate and higher employment in that market?
a. a drop in demand for diagnostic services at Cleveland hospitals
b. a drop in the price of ultrasound equipment
c. an increase in the length of training required for ultrasound technicians
d. a shift in potential workers' tastes away from hospital and clinical work
e. a wage decrease for ultrasound technicians in nearby cities
E
You might also like to view...
Firms in a competitive market are said to be price takers because there are many sellers in the market, and the goods offered by the firms are very similar if not identical
a. True b. False Indicate whether the statement is true or false
Unemployment occurs when someone:
A. is not working full-time. B. wants to work but cannot find a job. C. should be working but chooses not to. D. has useful skills that are not being used.
The equation of exchange
A. is an identity. B. requires that an increase in nominal GDP must always be accompanied by an increase in the velocity of money. C. does not apply when the level of unemployment is quite high. D. holds only if the velocity of circulation of money is a constant.
(Consider This) An unprofitable motel will stay open in the short run if:
A. price (average nightly room rate) exceeds average variable cost. B. marginal revenue exceeds marginal cost. C. price (average nightly room rate) exceeds average fixed cost. D. marginal revenue exceeds price.