Question
1.Trucks transport almost 90% of all goods produced in the United States.The American Trucking Association reports there is a shortage of 60,000 truck drivers.They currently
1.Trucks transport almost 90% of all goods produced in the United States.The American Trucking Association reports there is a shortage of 60,000 truck drivers.They currently earn an average $45,000 a year.The American Trucking Association reports that by 2026 there will be a shortage of 175,000 truck drivers.
a.Now that you know microeconomics, what economic reasoning can you provide to explain the current and increasing shortage of truck drivers? (3 points)
b.What impact, if any, will this increasing truck driver shortage have on prices we pay for goods between now and 2026?Please use your understanding of microeconomics to support your answer. (3 points)
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