The normal life-cycle pattern of income reflects differences in earnings based on
A)race and education
B)gender and education
C)age and education
D)race
E)household size

Question

Quizplus · Accepted Answer

Age is the primary factor in determining the normal life-cycle pattern of income, as most people start off with low wages and gradually increase their earnings as they gain experience and move up in their careers. Education level can also play a role in earnings, but it is generally secondary to age. Race, gender, and household size can all impact earnings, but they are not the primary determinants of the normal life-cycle pattern.

The Normal Life-Cycle Pattern of Income Reflects Differences in Earnings