Suppose the Following Two Events Occur in the Market for Elementary

question 138

Multiple Choice

Suppose the following two events occur in the market for elementary school teachers:
A.Overcrowded schools and education budget cuts have discouraged young university students from pursuing careers in teaching.
B.With an increasing birth rate,the number of children entering the elementary school system is expected to increase significantly over the next ten years.
What is likely to happen to the equilibrium wage and quantity of teachers as a result of these two events?

• A)The equilibrium quantity and the equilibrium wage of elementary school teachers fall.
• B)The equilibrium wage rises and the effect on the equilibrium quantity of elementary school teachers is indeterminate.
• C)The equilibrium quantity falls and the effect on the equilibrium wage of elementary school teachers is indeterminate.
• D)The equilibrium quantity falls and the equilibrium wage of elementary school teachers rises.

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Definitions:

Sales Presentation

A detailed pitch or exposition by a salesperson aimed at showcasing the features and benefits of a product or service to persuade a customer to buy.

Prospect's Senses

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Autosuggestion

A psychological technique involving self-induced suggestions intended to influence one’s thoughts, behaviors, or actions.

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Short, televised advertisements designed to inform or persuade viewers about products, services, or ideas.