Question: 1. Arrows up or down: A decrease in the supply of nurses wills the equilibrium wage and the equilibrium quantity of nursing services.

1. Arrows up or down: A decrease in the supply of nurses wills ________ the equilibrium wage and ________ the equilibrium quantity of nursing services.
2. Arrows up or down: An increase in the demand for nursing services will ________ the equilibrium wage and ________ the equilibrium quantity of nursing services.
3. Arrows up or down: A minimum wage ________ the quantity of labor demanded and ________ the quantity of labor supplied.
4. A minimum wage for restaurant workers brings good news to ________, but bad news to ________ and ________.
5. In Figure, an increase in the wage decreases the quantity of labor demanded. Using the simple approach to computing percentage changes (see the Appendix to Chapter 1), the implied elasticity of demand for labor is .

6. The average immigrant has ________ (less/more) education than the average native, so immigration ________ (increases/decreases) the wages of ________ (low/high) skill natives.

Supply curve $17 15 New demand curve Initial demand curve 16,000 19,000 Hours of nursinper day

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