(2). 11Assume that the actuarial and accounting industries employ people with similar skills. Suppose an increase in the demand for accountants leads to a risein their wages, while the demand for actuaries remains the same.The following graph shows the labor market for actuaries in the United States.Show the effect of the rise in demand for accountants on the U.S. labor market for actuaries by shifting the labor demand curve, the labor supply curve,or both.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back toits original position, just drag it a little farther.WAGE RATEQUANTITY OF LABORSupplyDemandDemandSupplyincreasesdecreasesAs a result, the wage rate for U.S. actuaries rises, and the level of employment increases 11Homework (Ch 11)Assume that the actuarial and accounting industries employ people with similar skills. Suppose an increase in the demand for accountants leads to a risein their wages, while the demand for actuaries remains the same.The following graph shows the labor market for actuaries in the United States.Show the effect of the rise in demand for accountants on the U.S. labor market for actuaries by shifting the labor demand curve, the labor supply curve,or both.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back toits original position, just drag it a little farther.WAGE RATEQUANTITY OF LADemandrisesSupplyfallsODemand10SupplyAs a result, the wage rate for U.S. actuaries rises, and the level of employment increases

The labor market, also known as the job market, refers to the supply of and demand for labor, for…

(2). 11 Assume that the actuarial and accounting industries employ people with similar skills. Suppose an increase in the demand for accountants leads to a rise in their wages, while the demand for actuaries remains the same. The following graph shows the labor market for actuaries in the United States. Show the effect of the rise in demand for accountants on the U.S. labor market for actuaries by shifting the labor demand curve, the labor supply curve, or both. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. WAGE RATE QUANTITY OF LABOR Supply Demand Demand Supply increases decreases As a result, the wage rate for U.S. actuaries rises, and the level of employment increases

(2). 11 Assume that the actuarial and accounting industries employ people with similar skills. Suppose an increase in the demand for accountants leads to a rise in their wages, while the demand for actuaries remains the same. The following graph shows the labor market for actuaries in the United States. Show the effect of the rise in demand for accountants on the U.S. labor market for actuaries by shifting the labor demand curve, the labor supply curve, or both. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. WAGE RATE QUANTITY OF LABOR Supply Demand Demand Supply increases decreases As a result, the wage rate for U.S. actuaries rises, and the level of employment increases

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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