PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
7th Edition
ISBN: 9781260110920
Author: Frank
Publisher: MCG
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Question
Chapter 8, Problem 1P
To determine
The comparison between average earnings of people of different education levels.
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Use the graph to answer the following question.
Median Annual Earnings of Full-Time, Year-Round Workers Ages 25-34, by Educational Attainment: 2019
Delars
S0.000
0.000
S70.000
70.000
S50,700
60.000
$55,700
S0.000
$44700
S31,700
$40.000
40,000
S35.000
$29,300
30.000
20.000
10.000
Some college,
no degree
Assodale's
degree
Bachelor
degree
Masters or
higher degree
Al educational
Less than
High school
completion
Total
ettainment
levels
high school
completion
Bachelor's or higher degree
Educational atainmest
Which of the following statements is supported by the information in the graph?
O A. High school graduates earn an average income.
B. Investing in education leads to a higher standard of living.
O.
C. Education has little impact on the earnings of workers.
O D. The costs of post-secondary education are greater than the benefits.
7
8
9.
4.
W
e
m
b n
alt
What is the percentage change in real average earnings from 1965 to 2010?
Given the information in the table, what is the labor force participation rate?
Catagory
Less than 16 years old
Full-time workers
Full-time military
Part-time workers
A. 74.7%
OB. 74.3%
OC. 63.1%
OD. 69.2%
Institutionalized
Looking for work
Retired
Number of people (millions)
40
135
1.2
20
14.8
11.5
41.5
Chapter 8 Solutions
PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
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