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How do we measure the economic return to higher education? Typically it is calculated as the difference between average wages of college graduates and those who have not graduated from college. In 1997, for example, college graduates earned an average of 40,508 (dollar) versus just 23,970 (dollar) for non-college graduates. Based on these income levels, the economic return to a college education is approximately 69 percent, the difference between the two income levels. But this simple calculation ignores the fact that college graduates tend to come from higher socioeconomic levels, are more highly motivated, and probably have higher IQs than nongraduates. Although these factors influence incomes, they are not the result of college attendance. Therefore the result of the study is an overstatement(大话)of the returns to higher education.
More sophisticated analyses adjust for these extraneous(外来的)influences. For instance economists Orley Ashenfelter and Alan Krueger, estimate that each year of post-high school education results in a wage premium(奖金)of between 15 and 16 percent. Their study is particularly relevant because they examined the earnings differences for identical twins with different education levels, allowing them to control for genetic and socioeconomic factors. Other research puts the wage premium for college graduates at nearly 50 percent.
Unfortunately, you can't spend a college wage-premium. Income levels for the average college graduate have stagnated. After adjusting for inflation, the average income of college graduates holding full-time jobs rose by only 4.4 percent between 1979 and 1997, or at a minuscule annual rate of 0.2 percent. At the same time, workers with only high-school degrees saw their real income plummet by 15 percent. Bottom line:the much-ballyhooed college wage "premium" is due primarily to the fall in inflation-adjusted salaries of workers who haven't been to college.
In fact, if you don't go on to graduate school or are not among the top graduates at one of the nation's elite colleges, chances are your sky-high tuition is buying you no economic advantage whatsoever. In recent decades the flood of graduates has been so great that an increasing proportion have found themselves,within a few years, working as sales clerks, cab drivers, and in other jobs that do not require a college degree. In 1995, approximately 40 percent of people with some college education — and 10 percent of those with a college degree — worked at jobs requiring only high-school skills. That's up from 30 percent and 6 percent, respectively, in 1971.
1
The traditional calculation of the economic return to higher education is inaccurate because_____.
A.it doesn't take into account the changing economic situations
B.it involves small samples
C.it failed to incorporate some aspects which themselves might have added to the earnings of college graduates
D.it does not specify whether non-college graduates have high-school degrees
本题答案:
  • A
  • B
  • C
  • D
  • 参考答案:C
  • 系统解析:
    推断题。根据文章第一段第五句“But this simple calculation ignores...than nongraduates. ”得知,传统的计算方法忽略了这样的事实:大学毕业生很可能来自社会经济较好的家庭,而且他们的智商很可能比非大学生高。故判断出C项为正确答案。
2
What does the author mean when he says "you can't spend a college wage-premium"(Line 1, Para. 3)?
A.College graduates tend to stash money away(存钱).
B.The economic returns for college graduates have decreased since 1979.
C.The economic returns to higher education have not increased very much since 1979.
D.College graduates could hardly earn enough to pay high living cost.
本题答案:
  • A
  • B
  • C
  • D
  • 参考答案:C
  • 系统解析:
    推断题。根据文章第三段判断出:从1979年开始,高等教育的经济回报事实上并未提高。故C项为正确答案。
3
Which of the following statements is NOT true?
A.The economic return to higher education is lower by the more sophisticated analyses than by traditional methods.
B.Results of analyses of college premium differ greatly.
C.Between 1979 and 1997, workers with only high-school degrees saw their real income fall.
D.Graduates from graduate schools have the same economic returns as those from colleges.
本题答案:
  • A
  • B
  • C
  • D
  • 参考答案:C
  • 系统解析:
    推断题。根据文章第三段,在1979年到1997年间,不论是大学毕业生还是髙中毕业的工人们,其经济状况都有下降。C项与原文意思不符,故选C项。
4
According to the last paragraph,_____.
A.more and more people go to elite colleges
B.tuition has started to decline
C.there are too many college graduates
D.the quality of college education had declined
本题答案:
  • A
  • B
  • C
  • D
  • 参考答案:C
  • 系统解析:
    推断题。文章最后一段告诉我们:越来越多的大学毕业生也开始从事原先工人们所从事的工作了,由此判断:大学毕业生越来越多了。故选C项。
5
Which of the following is the topic of the passage?
A.Overestimated College Premium
B.The Payoffs of College Education
C.The Myths of College Education
D.The Decline of College Education
本题答案:
  • A
  • B
  • C
  • D
  • 参考答案:A
  • 系统解析:
    文章标题推断题。文章第一段作者就指出髙等教育经济回报的衡量是不确切的,是在夸大其词。以下几段作者详细分析了其现象及原因。由此判断A项正确。
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