One Frequently Sees a Strong Relationship Between Median Annual Earnings

question 88

Multiple Choice

One frequently sees a strong relationship between median annual earnings and education level.What theory would suggest that education provides valuable skills?

• A) compensating differentials
• B) income mobility
• C) life-cycle wage pattern
• D) signal
• E) human capital

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Definitions:

Laborers

Laborers are workers, often in the construction, manual labor, or agricultural fields, who perform physical tasks and are essential to the completion of projects and production.

Nonimportation Movement

A series of commercial restrictions adopted by American colonists to protest British revenue policies prior to the American Revolution.

Townshend Acts

The Townshend Acts were a series of British laws passed in the late 1760s imposing taxes on goods imported to the American colonies, including tea, glass, and paper, which contributed to growing colonial dissatisfaction and paved the way for the American Revolution.

American Merchants

American Merchants were key figures in the colonial and early America economic landscape, involved in trade, commerce, and the establishment of trade routes domestically and internationally.