Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

c) Figure 1 plots the ratio of average college wages to average high school wages in the U.S. (or the college wage premium) for the

image text in transcribedimage text in transcribed
c) Figure 1 plots the ratio of average college wages to average high school wages in the U.S. (or the college wage premium) for the period 1915-2005 (The scale on the graph is logarithmic. That is, log of the ratio is plotted). It shows that the college wage premium has a U-shape over time. Figure 2 plots the ratio of number of workers with college degree to those with high school degree. Based on these graphs, is our model successful at explaining the observed evolution of the college wage premium in the United States? Why? Figure 1. College graduate wage premium 0.6 [ high school graduate wage premium_ 0.5 0.4 0.3 0.2 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 Source: Goldin, Claudia, and Lawrence F. Katz, 2007, "The Race Between Education and Technology", NBER Working PaperFigure 2. 1.00 College Equivalents/High School Equivalents (log scale) 0.37 - 0.14 - 1910 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 Source: Goldin, Claudia, and Lawrence F. Katz, 2007, "The Race Between Education and Technology", NBER Working Paper

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Human Resources In The Urban Economy

Authors: Mark Perlman

1st Edition

1317332474, 9781317332473

More Books

Students also viewed these Economics questions

Question

Explain the various methods of job evaluation

Answered: 1 week ago

Question

Differentiate Personnel Management and Human Resource Management

Answered: 1 week ago

Question

Describe the functions of Human resource management

Answered: 1 week ago

Question

1. To understand how to set goals in a communication process

Answered: 1 week ago