An increase in the number of students graduating with a major in psychology would result in
A) a decrease in the supply of psychologists that would increase the wage of psychologists and decrease the number employed.
B) an increase in the supply of psychologists that would decrease the wage of psychologists and increase the number employed.
C) a decrease in the demand for psychologists that would decrease the wage of psychologists and decrease the number employed.
D) an increase in the demand for psychologists that would increase the wage of psychologists and increase the number employed.

Question

Quizplus · Accepted Answer

An increase in the number of psychology graduates would increase the supply of psychologists, leading to a decrease in wages and an increase in the number employed.

An Increase in the Number of Students Graduating with a Major