Respuesta :
The best explanation for the increase in economist salaries and the decrease in accountant salaries must be that the supply of economists has decreased and the supply of accountants has increased. Option B is the correct answer here.
A commodity's price rises as its supply are reduced. Economist salaries increased as the number of available economists decreased. Whenever supply of something increases, the price goes down. Because of this, the salaries of accountants fell the number of available accountants increased.
This has raised concerns that these situations are self-reinforcing and could lead to wage-price spirals, long-running loops in which inflation drives higher wage growth, which in turn drives even higher inflation.
Complete question:
In the current labor market, suppose that the wage rate for accountants is significantly higher than the wage rate for economists. In the long run, if you observed that the wage rate for economists rose while the wage rate for accountants fell, which of the following would best explain your observation?
(A) The supply of economists must have increased, and the supply of accountants must have decreased.
(B) The supply of economists must have decreased, and the supply of accountants must have increased.
(C) The demand for economists must have increased, and the supply of accountants must have decreased.
(D) The demand for economists must have decreased, and the supply of accountants must have increased.
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