An industry can be defined as

a. the group of all firms that sell a product.
b. any company that produces and sells something.
c. the set of buyers of a particular good or service.
d. the top companies that sell something.

a

Economics

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If there is a shortage of nurses, it is expected that

a. wages for nurses will go up as hospitals try to fill these positions. b. wages for nurses will go down because of the increased competition between hospitals. c. the return on the human capital investment of current nursing majors will decline. d. wages for nurses currently practicing will increase, but new nurses will experience lower wages in the future.

Economics

An unexpected increase in the demand for accountants will lead to

a. an increase in their earnings and an expansion in the future supply of accountants. b. a decrease in the incentive of students to prepare for a career in accounting. c. a reduction in the current earnings of accountants, followed by a reduction in the future supply of accountants. d. a reduction in the employment of accountants but not their wage rates.

Economics