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Subject - Economics:

Microeconomics

MCQ - 102-4112

Question:

More college students are graduating with BA degrees in economics. Given this trend, we would expect the wage of economists, the employment of economists, and the demand for economics textbooks to change in which of the following ways?

  1. ECONOMIST WAGES: Decrease, EMPLOYMENT OF ECONOMISTS: Increase, DEMAND FOR ECONOMICS TEXTBOOKS: Increase
  2. ECONOMIST WAGES: Decrease,EMPLOYMENT OF ECONOMISTS: Decrease,DEMAND FOR ECONOMICS TEXTBOOKS: Decrease
  3. ECONOMIST WAGES: Increase,EMPLOYMENT OF ECONOMISTS: Decrease,DEMAND FOR ECONOMICS TEXTBOOKS: Decrease
  4. ECONOMIST WAGES: Decrease,EMPLOYMENT OF ECONOMISTS: Decrease,DEMAND FOR ECONOMICS TEXTBOOKS: Decrease
  5. ECONOMIST WAGES: Increase,EMPLOYMENT OF ECONOMISTS: Increase,DEMAND FOR ECONOMICS TEXTBOOKS: Increase

Correct Answer: A

Explanation:

Increased labor supply lowers the wage, increases employment, and increases demand for goods that are “tools of the trade.”

Record Performance

269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: More college students are graduating with BA degrees in economics. Given this trend, we would expect the wage of economists, the employment of economi .... the following ways?, keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 102-4112.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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