Final answer:
Earning a Master's degree is false for being a short-term goal; it is a long-term goal due to the extensive commitment and the trade-offs involved. This choice can affect one's ability to work and earn income for a considerable period, and only a smaller percentage of the population undertake a Master's degree considering the opportunity cost.
Step-by-step explanation:
Earning a Master's degree is an example of a long-term goal, not a short-term one, which makes option B (false) the correct answer. Obtaining a Master's degree usually takes several years to complete and involves a significant investment of time, effort, and resources. Students and individuals often engage in this level of education as part of their career development, with the expectation that the degree will help them access better job opportunities and higher pay in the future.
The statistics from the Bureau of Labor Statistics (BLS) indicate that while a high percentage of people in the United States have a high school diploma, a much smaller percentage have gone on to obtain a bachelor's or Master's degree. This may be attributed to the high opportunity cost and the trade-offs involved, such as foregoing years of full-time employment and potential earnings to achieve higher education.
Individuals weighing the option of pursuing a graduate degree must consider these factors and determine whether the potential increase in material well-being and ability to consume goods and services justifies the cost and sacrifice associated with earning the degree.