The first chapter of Principles of Economics discussed the 10 principles of economics.

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