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In the 1970's there was an oversupply of college graduates. [#permalink]
07 Apr 2004, 07:27
100% (00:00) correct
0% (00:00) wrong based on 2 sessions
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In the 1970's there was an oversupply of college
graduates. The oversupply caused the average
annual income of college graduates to fall to a level
only 18 percent greater than that of workers with
only high school diplomas. By the late 1980's the
average annual income of college graduates was 43 percent higher than that of workers with only high school diplomas, even though between the 1970's
and the late 1980's the supply of college graduates
did not decrease.
Which of the following, if true in the late 1980's,
best reconciles the apparent discrepancy described
(A) The economy slowed, thus creating a decreased
demand for college graduates.
(B) The quality of high school education improved.
(C) Compared to the 1970's, a greater number of
high schools offered vocational guidance
programs for their students.
(D) The proportion of the population with at least a
college-level education increased.
(E) There was for the first time in 20 years an over-
supply of job seekers with only high school
I want to go with you guys but I'll go with C just because it was on oversupply that caused salaries to be only 18% which leads me to believe 43% might be closer to a normal target rather than an oversupply in the other direction
Hmmm, I don't think vocational guidance helps solve this paradox. Vocational guidance will not in and of itself guarantee a widening of college graduates wages versus high school graduates wages. I'm with E with the crowd. As E says, if there is an oversupply in high school graduates, this will lower their wage and the difference between their wage and that of college graduates will thus widen _________________
Check out this awesome article about Anderson on Poets Quants, http://poetsandquants.com/2015/01/02/uclas-anderson-school-morphs-into-a-friendly-tech-hub/ . Anderson is a great place! Sorry for the lack of updates recently. I...