Which of the following could explain the relatively high wages earned by certain medical professionals, like nurse practitioners in physicians?
A) The age of a population leads to a relatively low quantity of labor demanded at any given wage.
B) The training and certifications required for these professions lead to a relatively high quality of labor supply at any given wage.
C) The training and certification required for these professions lead to a relatively low quality of labor supply to any given wage.
D) The age of our population leads to a relatively high quality of labor supply at any given wage.
1 answer
B) The training and certifications required for these professions lead to a relatively high quality of labor supply at any given wage.