Final answer:
A decrease in demand for accountants will lead to a future decrease in the quantity supplied of accountants, as lower demand results in a lower price for services, and subsequently, less interest in the profession.
Step-by-step explanation:
An unexpected decrease in the demand for accountants will cause a future decrease in the quantity supplied of accountants. This is because, according to the laws of supply and demand, a decrease in demand will lead to a lower equilibrium price for accounting services, making the profession less attractive.
Subsequently, the quantity supplied of accountants will decrease as fewer individuals enter the profession or existing accountants may seek alternative opportunities that provide a higher return.
The situation is analogous to the scenario depicted in Figure 4.11 regarding the nursing profession. In that figure, a decrease in the supply of nurses, paired with increasing demand, resulted in higher salaries (Pe2). However, when demand drops rather than supply, the typical result is the opposite, with both price and quantity supplied dropping.
A decreasing demand might be triggered by various factors like changes in consumer preferences, technological advancements, alternative career paths gaining popularity, etc.