Suppose that you observe that the wages for accountants in your town have gone up and that the number of accountants employed has also gone up. Which one of the following conditions could explain this?Illustrate your answer with a graph and explain in a brief paragraph. a. Businesses are failing, reducing the need for accountants. b. Many accountants are leaving the field in order to train to become financial analysts instead. c. A rash of business scandals has increased the demand for auditing services performed by accountants. d. The local university has just graduated an unusually large group of accountants.
Suppose that you observe that the wages for accountants in your town have gone up and that the number of accountants employed has also gone up. Which one of the following conditions could explain this?Illustrate your answer with a graph and explain in a brief paragraph. a. Businesses are failing, reducing the need for accountants. b. Many accountants are leaving the field in order to train to become financial analysts instead. c. A rash of business scandals has increased the demand for auditing services performed by accountants. d. The local university has just graduated an unusually large group of accountants.
Chapter30: The Labor Market
Section: Chapter Questions
Problem 4E
Related questions
Question
100%
Suppose that you observe that the wages for accountants in your town have gone up and that the
number of accountants employed has also gone up. Which one of the following conditions could
explain this?Illustrate your answer with a graph and explain in a brief paragraph.
a. Businesses are failing, reducing the need for accountants.
b. Many accountants are leaving the field in order to train to become financial analysts
instead.
c. A rash of business scandals has increased the
accountants.
d. The local university has just graduated an unusually large group of accountants.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Microeconomics: Principles & Policy
Economics
ISBN:
9781337794992
Author:
William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning