3 • Problems 85

Price

Qd

Qs

$1.60 9,000 5,000

$2.00 8,500 5,500

$2.40 8,000 6,400

$2.80 7,500 7,500

$3.20 7,000 9,000

$3.60 6,500 11,000

$4.00 6,000 15,000

TABLE 3.11
86 3 • Problems

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Labor and Financial Markets

4

FIGURE 4.1 People often think of demand and supply in relation to goods, but labor markets, such as the nursing

profession, can also apply to this analysis. (Credit: modification of "Hospital do Subúrbio" by Jaques Wagner

Governador/Flickr Creative Commons, CC BY 2.0)

CHAPTER OBJECTIVES

In this chapter, you will learn about:

• Demand and Supply at Work in Labor Markets

• Demand and Supply in Financial Markets

• The Market System as an Efficient Mechanism for Information

Introduction to Labor and Financial Markets

BRING IT HOME

Baby Boomers Come of Age
According to the 2020 Census, 22% of the U.S. population was 60 years old or older, which means that more than
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