Differences in earnings based on age and education reflect a normal life cycle pattern of income.

Name: Differences in earnings based on age and education reflect a normal life cycle pattern of income.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

It is commonly understood that individuals tend to earn lower incomes when they are younger and have less education, but as they grow older and acquire more skills and experience, their earnings tend to increase. This is known as the normal life cycle pattern of income. Therefore, the statement is true.

Differences in Earnings Based on Age and Education Reflect a Normal