Jobs that require degrees or certificates typically pay ___________ compared to those that require little or no training.

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Study for the EverFi Financial Literacy Test. Test your knowledge with engaging flashcards and multiple choice questions, each with hints and explanations. Get exam ready!

Jobs that require degrees or certificates typically pay more compared to those that require little or no formal training. This can be attributed to several factors. Individuals who obtain degrees or specialized certifications often have acquired valuable skills and knowledge that are in demand in the job market. These qualifications can signal to employers that a candidate possesses the advanced expertise needed for more complex tasks or responsibilities, often leading to higher salaries.

Additionally, professions that necessitate formal education tend to involve specialized roles, which can create a higher barrier to entry. As a result, the limited supply of qualified professionals can drive wages upward, since employers are often willing to pay more for skilled workers to fill these roles. In contrast, jobs that require minimal training may have a larger pool of applicants, leading to increased competition for positions and often resulting in lower pay. The correlation between education levels and income is well-documented, illustrating that investments in education and vocational training can yield significant financial returns over a person's career.

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