Question

What correctly describes the U.S. Bureau of Labor Statistics predictions by 2020? (regard to workforce shortage)

a) Surplus of nurses
b) Equal demand and supply
c) Shortage of nurses
d) Stable workforce

Answer 1

The U.S. Bureau of Labor Statistics predicts a shortage of nurses by 2020 due to the increase in demand and decrease in supply. This will result in an equilibrium quantity of nurses that is less than the initial quantity but more than a surplus.

Step-by-step explanation:

The U.S. Bureau of Labor Statistics predicts a shortage of nurses by 2020. This is due to the increase in demand for healthcare professionals, including nurses, and the decrease in the supply of nurses as they retire from the workforce. As a result, the equilibrium quantity of nurses is expected to be less than the initial quantity but more than a surplus.