People with college degrees make more on average than people without them. a. Gi
ID: 1210430 • Letter: P
Question
People with college degrees make more on average than people without them. a. Give some evidence supporting the argument that human capital offers at least a partial explanation for this fact. b. Give some evidence supporting the argument that signaling offers at least a partial explanation for this fact. People with college degrees make more on average than people without them. a. Give some evidence supporting the argument that human capital offers at least a partial explanation for this fact. b. Give some evidence supporting the argument that signaling offers at least a partial explanation for this fact. a. Give some evidence supporting the argument that human capital offers at least a partial explanation for this fact. b. Give some evidence supporting the argument that signaling offers at least a partial explanation for this fact.Explanation / Answer
a. According to the available biennial earnings data, workers with college degree earn significantly more than those without them. People with lower education level tend to be unemployed at higher level when compared to those with college degrees. College-educated workers’ wages have increased but those with only a high school level have decreased income. Men with a high school diploma earned $751 while women earned $578 for the same level. Men with a bachelor’s degree earned 41,249 whereas women earned just $661 being a graduate.
b. The expected earnings after graduation outweigh the possible debts incurred from student loans. Comparing life earnings of employees with bachelor’s degree and those without, non-degree holders could expect to earn 75 percent less bachelor’s degree holders who could expect to earn $2.7 million over their lifetimes. However, bachelor’s degree holders can now expect to make 84 percent more than high school graduates. In general, a college degree allows a person to have more earning potential overall, regardless of other factors.
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