ECO 205 Week 6 Assignment Labor Market Research

ECO 205 Week 6 Assignment Labor Market Research

The first chapter of Principles of Economics discussed the 10 principles of economics. Two principles that help explain how wages are determined in a market economy are #1, People Face Tradeoffs, and #7, Governments Can Sometimes Improve Market Outcomes (Mankiw, 2004). Consider these principles when completing your assignment. Think of how they apply to the labor market for nurses.

·         Research the labor market for any state to determine how nursing wages are calculated. Use the Internet for this research.
·         Write a 700- to 1,050-word paper, in which you complete the following:

*   Address which factors may influence the supply and demand for nurses.
*   Discuss how a nurse’s pay is determined and how the salary is structured.
*   Discuss what your chosen state can do to increase the supply of nurses.
*   Describe how your information relates to Principle #1 and #7. Be specific and make sure to refer to the principles.
*   Include at least one appropriately cited and documented quotation to support a point.
*   Include at least one appropriately cited and documented paraphrase to support a point.

·         Format your paper according to APA standards.
·         Post your paper as an attachment.

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