If a large number of people decide to major in economics, the supply and demand model has little to say about the future wages of economists
Indicate whether the statement is true or false
False. If more people major in economics, and the demand for economists does not change, the wages of economists will be expected to decline in the future as the supply of economists increases.
Economics
You might also like to view...
Marginal social cost is equal to ________
A) marginal private cost plus the marginal external cost B) the marginal external cost C) the value of the tax that will make the market efficient D) the marginal cost imposed on people other than the producer of the good
Economics
In the production function, Y = zF(K, Nd), total factor productivity is
A) Y/K. B) Y/Nd. C) F/Y. D) z.
Economics