2. The graph shows the number of workers with a college degree (triangles) and their average wage (circles) in the US from 1939 to 1996. Describe what the graph implies was likely happening with supply and demand in the market over some time. Assume the market is always in equilibrium. Be sure to clearly indicate the time you choose. Workers, 69 Year Wage 79 Technically, this is the quantity supplied divided by the quantity of workers with only a high school education and the relative wage (the wage of one divided by the other). However, for this question, you can ignore the distinction.

2. The graph shows the number of workers with a college degree (triangles) and their average wage (circles) in the US from 1939 to 1996. Describe what the graph implies was likely happening with supply and demand in the market over some time. Assume the market is always in equilibrium. Be sure to clearly indicate the time you choose. Workers, 69 Year Wage 79 Technically, this is the quantity supplied divided by the quantity of workers with only a high school education and the relative wage (the wage of one divided by the other). However, for this question, you can ignore the distinction.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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