Solved

Which Statement Explains Why Occupations That Require Many Years of Education

Question 122

Multiple Choice

Which statement explains why occupations that require many years of education, such as those in medicine, have higher salaries than an occupation that requires far less training?


A) The salary would need to be higher to induce people to cover the cost of the extra investment in human capital, given that fewer years to work will be available after schooling is completed.
B) The demand for higher-skilled services is stronger than the demand for lower-skilled levels.
C) The supply of workers seeking higher salaries is greater, and the higher supply leads to a higher equilibrium salary.
D) The marginal return to investment in education rises as the investment moves to higher levels of education.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents