Use the Figure to Answer the Following Question(s)

question 118

Multiple Choice

Use the figure to answer the following question(s) .
Figure 12-2

If an unanticipated increase in demand in Figure 12-2 shifts the demand for accountants from D ₁ to D ₂, how will the higher level of demand influence the wages of accountants in the short run and the long run?

• A) In the short run, wages will increase to W ₂, but the wage increase will be smaller in the long run.
• B) In the short run, wages will be less than W ₂, but in the long run, they will rise to W ₂.
• C) In the short run, wages will increase to W ₂, and in the long run, they will be even higher than W ₂.
• D) Employment will increase, but the higher level of demand will not alter the wages of accountants.

---

Definitions:

Audience's Level

The degree of understanding, interest, or knowledge that the intended audience has regarding a particular subject or topic.

Familiarity

A level of knowledge or recognition of something or someone, often leading to a sense of comfort or ease.

Abstract Words

Words that represent ideas or concepts rather than physical objects or actions.

Concrete Words

Words that refer to tangible, specific things that people can see, touch, hear, smell, or taste.