Which of the Following Is True Regarding Level of Education

question 26

Multiple Choice

Which of the following is true regarding level of education and household income?

• A)The higher the level of education,the higher the income level.
• B)The highest household incomes were in families where a family member had a Bachelor's degree.
• C)High school graduates typically make more than those who attended college but did not graduate.
• D)There is no direct relationship.

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Definitions:

Free Trade

An economic policy that allows goods and services to be traded between countries with few or no barriers such as tariffs or quotas.

Autarky

An economic system of self-sufficiency where a country or region attempts to produce everything it needs without engaging in international trade.

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefit to society from the production and consumption of a good.

International Trade

The exchange of goods, services, and capital between countries and territories.