Excess supply of labor
S An above-equilibrium salary
E Equilibrium salary
D A below-equilibrium salary
10,000 20,000 30,000 40,000 50,000
Quantity of Nurses
CH 221 Ziegler
Spencer Bodner Rickert 5th Ed. & MOOG, 5th Ed.
(Spencer Chapter 1)
A. Calculate a score and assign a grade f
2) How does the existence of money simplify the process of buying and selling?
Money is making life better for buyers and sellers because money serves as a medium of
exchange, in other words, money is widely accepted as a method of paym
1) Why do employers have a natural advantage in bargaining with employees?
Laws are set to provide workers with minimum hourly wage, plus other laws are in there to
prevent child labor laws and regulating health codes
2) Why cant employ