Suppose the following eve

Suppose the following eve

Suppose the following events occur in the market for university economics professors.Event 1: A recession in the US economy lowers the opportunity cost of going to graduate school in economics to become a university economics professor.Event 2: An increasing number of students in US primary and secondary schools increases the number of students entering college, increasing the output price of university economics professors’ services.57. Refer to the scenario. As a result of these two events, holding all else constant, the equilibrium wages of university economics professors willa. increaseb. decreasec. not changed. It is not possible to determine what will happen to the equilbirium wages

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