Final answer:
The current nursing shortage is caused by increased demand for nurses, retirement of nurses, and high wages for RN's without advanced degrees.
Step-by-step explanation:
The current nursing shortage can be attributed to several factors:
- Increased demand for nurses: As shown in Figure 4.10, the demand for nurses has been on the rise. This can be due to various reasons such as an aging population, advancements in healthcare technology, and increased access to healthcare services.
- Retirement of nurses: As nurses retire from the workforce, the supply of nurses decreases. This leads to a leftward shift in the supply curve, resulting in a shortage of nurses.
- High ceiling wages for RN's without advanced degrees: The fact that registered nurses (RN's) without advanced degrees can earn high wages also contributes to the nursing shortage. This is because high wages attract more people to pursue nursing careers, resulting in an increased demand for nurses.
Overall, the combination of these factors has led to a current nursing shortage, with higher wages being offered to attract and retain nurses.