More people decide to major in nursing and fewer people decide to major in engineering. All else the same, over time we can expect nursing salaries (wages) to [ Select ] and engineering salaries (wages) to [ Select ] • Previous Next
More people decide to major in nursing and fewer people decide to major in engineering. All else the same, over time we can expect nursing salaries (wages) to [ Select ] and engineering salaries (wages) to [ Select ] • Previous Next
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Decrease/increase
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Step 1
Given that more people are deciding to major in nursing and fewer people decides to major in engineering. Overtime the salaries or wages nursing will decrease because there will be large supply of nurses and hence the wages will come down. Whereas the salaries or wages of engineers will increase because there will not be much supply of engineers, which will give rise in wages overtime.
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