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:

Worksheet

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Worksheet

A document used by accountants to gather information for adjusting entries and to prepare financial statements.

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Refers to the expiration or depletion of the useful life or service period of an asset, at which point it may no longer be productive or useful for the business.

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