(Last Word) Which of the following statements is true about occupational licensing in the United States?
A) In the 1950s only about 5 percent of jobs required an occupational license; today about one-third of jobs require a license.
B) The proportion of jobs requiring occupational licenses has remained relatively stable since the 1950s.
C) Occupational licensing benefits consumers by reducing firms' costs and lowering output prices.
D) Occupational licensing enhances employment opportunities for poorer workers.

Question

Quizplus · Accepted Answer

According to the statement, in the 1950s only about 5 percent of jobs required an occupational license, while today about one-third of jobs require a license. Therefore, option A is the correct statement. Option B is false since it contradicts option A. Option C is false because research suggests that occupational licensing can increase prices and limit competition. Option D is false because the evidence shows that occupational licensing often restricts entry to certain professions and can make it more difficult for poorer workers to enter the labor market.

(Last Word) Which of the Following Statements Is True About