Which of the following best explains why the most rapid increase in a person's wages usually occur at younger ages, giving a concave shape to the age/earnings profile?

Question

Quizplus · Accepted Answer

On-the-job training usually declines with age, meaning that younger workers are more likely to receive more training and therefore, experience greater wage growth early in their careers. This leads to a concave shape in the age/earnings profile, where wages increase rapidly in the early years of a person's career and then flatten out or increase at a slower rate in later years.

Which of the Following Best Explains Why the Most Rapid