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The text gives you a brief overview of Baumol's Model of Unbalanced Growth. As you have read this model at the core shows the tendency
The text gives you a brief overview of Baumol's Model of Unbalanced Growth. As you have read this model at the core shows the tendency for wages to increase with no increase in productivity. Since the 2020 COVID pandemic the labor market for healthcare services has been tight forcing some organizations to turn to temporary staff, contractors, and paying high premiums for the same work. Assume you are a hospital leader and you want to educate your executive team on this model and what the impact could be for your organization. Please construct a one page memo outlining the model, the effects, and what can be done to prevent unbalanced growth for healthcare organizations
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