Concept explainers
Education and Earnings. Examine Figure 5.l2(a), which shows the median earnings for men and women for eight different levels of education.
a. Brie?y describe how earnings vary with educational attainment.
b. What is the percentage increase in earnings for women when a professional degree is compared to a bachelor's degree?
c. What is the percentage increase in earnings for men when a professional degree is compared to a bachelor’s degree?
d. What is the percentage difference in earnings for men and women with a bachelor's degree?
e. What is the percentage difference in earnings for men and women with a professional degree?
f. On average, people spend about 45 years in the work force before retiring. How much more would the average male college graduate (bachelor's degree) earn during these 45 years than the average male high school graduate?
g. How much more would the average female college graduate with a professional degree earn over a 45-year career than the avenge female college graduate?
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