Which Statement Explains Why Occupations That Require Many Years of Education

question 243

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.

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Definitions:

Emotional Benefit

The positive emotional impact or satisfaction gained from using a product, service, or engaging in an activity, contributing to overall well-being or happiness.

Key Selling Points

Crucial attributes or advantages of a product or service that make it appealing to potential buyers.

Indirect Approach

A method of communication or persuasion that is not straightforward, often involving subtlety or implication rather than direct statements.

Request For Action

A communication that urges or requires the recipient to take a specific step or perform a particular task.