Microeconomics: Theory and Applications with Calculus, 4e

15 Factor Markets

I have often thought that if there had been a good rap group around in those days, I would have chosen a career in music instead of politics.

—Richard Nixon

CHALLENGE Does Going to College Pay?

For most of your childhood, your parents, teachers, or other adults urged you to go to college. According to a 2015 Gallup poll, virtually all (96%) of U.S. adults believe that it is somewhat or very important to have a degree or professional certificate beyond a high school diploma. However, is college worth the cost? U.S. adults who considered college to be a good investment plummeted from 81% in 2008 to 57% in 2012. A 2015 survey found that 60% of people ages of 25 and 44 who had finished high school but lacked a college degree thought ...