Question

Several years ago, the average earnings for male workers between the ages of 25 and 34 with a high school diploma was $31,680. Comparing this value in

constant dollars to the average earnings 21 yr later showed that the average earnings have decreased to $27,900. Find the average rate of change in dollars
year for this time period.

[ Hint: Use the ordered pairs (0, 31,680) and (21, 27,900).]

Answer 1

For 25- to 34-year-olds who worked full time, year round, higher educational attainment was associated with higher median earnings.

Explanation:

This pattern was consistent for each year from 2010 through 2020. For example, in 2020, the median earnings of those with a master’s or higher degree were $69,700, some 17 percent higher than the earnings of those with a bachelor’s degree ($59,600). In the same year, the median earnings of those with a bachelor’s degree were 63 percent higher than the earnings of those who completed high school ($36,600).