If the Demand for Workers with Doctorate Degrees in Economics

question 75

Multiple Choice

If the demand for workers with doctorate degrees in economics increases, we would expect

• A) the wages of economists to increase in the short run and the number of economists employed to increase in the long run.
• B) the supply of economists to increase in the short run and their wages to rise in the long run.
• C) a rapid increase in the supply of economists, causing wages to remain constant.
• D) the wages of economists to decrease in the short run and the number of economists employed to increase in the long run.

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Definitions:

Cost-Effective

An economical choice where the benefits or outcomes justify the expenses incurred.

Patient Outcomes

The results or consequences of healthcare services and interventions on the health status of patients.

Critical-Thinking Skill

A cognitive process that involves analyzing, evaluating, and synthesizing information to make reasoned judgments.

Listening Carefully

The act of attentively and actively engaging in the process of hearing and understanding spoken communication.