Figure 12-2 -If an Unanticipated Increase in Demand in Figure 12-2 Shifts

question 54

Multiple Choice

Figure 12-2

-If an unanticipated increase in demand in Figure 12-2 shifts the demand for accountants from D₁ to D₂,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 W₂,but the wage increase will be smaller in the long run.
• B)In the short run,wages will be less than W₂,but in the long run,they will rise to W₂.
• C)In the short run,wages will increase to W₂,and in the long run,they will be even higher than W₂.
• D)Employment will increase,but the higher level of demand will not alter the wages of accountants.

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