Which of the following statements are correct about the age-earnings cycle?
A) Earnings generally increase up till age 30 and then steadily decrease.
B) Earnings increase throughout a prison's lifetime until they reach retirement.
C) Earnings increase with age because workers become more productive as they age until around 50 years. Around 50 the effects of aging outweighs the further increases in productivity.
D) Since every person is different we can reach no general conclusions about the age-earnings cycle.
Answer: C
You might also like to view...
Restaurants catering to both a lunch and dinner trade are likely to mark their prices up above the cost of the food more for dinner than for lunch because
A) the demand is greater at dinner. B) the demand is less at dinner. C) the demand is less elastic at dinner. D) the demand is more elastic at dinner.
In 1973, the U.S. experienced a decline in output and high inflation
a. True b. False Indicate whether the statement is true or false