A substantial revision of the income tax code that made business and personal tax returns much easier to complete would tend to cause which of the following changes in the labor market for accountants?
A) an increase in the demand for accountants
B) an increase in the employment of accountants
C) a decrease in the wage rate of accountants
D) an increase in the number of students choosing to major in accounting

Question

Quizplus · Accepted Answer

A simplification of the tax code would likely reduce the demand for accountants, as fewer people would need their services for tax preparation, leading to a decrease in the wage rate for accountants.

A Substantial Revision of the Income Tax Code That Made