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- Subject
- Introduction To Economicseconomics-mcqs › introduction-to-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
Given that individuals react to financial incentives, what is the likely outcome if accountants' average salaries rise by 50%, while teachers' average salaries increase by only 20%?
Multiple choice question for Introduction To Economics. Select an option, then review the explanation below.
Explanation
Since people tend to respond to higher financial rewards, a larger salary increase for accountants compared to teachers will likely cause more students to choose accounting degrees and fewer to select education degrees.
More Introduction To Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following factors directly influences the supply curve?
- 2.Under what condition is a market considered to be in equilibrium?
- 3.What type of relationship is depicted when a graph shows that as the values on the horizontal axis increase, the values on the vertical axis decrease?
- 4.Which two elements are essential to construct a straight-line graph?
- 5.How can a nominal value be converted into a real value?