This question is about human capital accumulation. Assume initially a labor market where a worker's productivity depends only on educational attainment. a) Provide a graphical illustration of the wage-age-education attainment relationship, paying particular attention to high school and university levels. Explain the properties of the relationship and what determines the decision to start a university degree, using different areas of the graph. (1.5 pts) b) Using your answers and graphs in a) comment on and explain whether you agree or disagree that older people are less likely to invest in a college degree (no need for new graphs) (1 pts) c) If workers face different rates of discount (interest rates) and different rate of return to schooling. Express this in graph and explain the different channels through which discrimination can work to compound earning differentials by wealth class (1.5 pts) This question is about human capital accumulation. Assume initially a labor market where a worker's productivity depends only on educational attainment. a) Provide a graphical illustration of the wage-age-education attainment relationship, paying particular attention to high school and university levels. Explain the properties of the relationship and what determines the decision to start a university degree, using different areas of the graph. (1.5 pts) b) Using your answers and graphs in a) comment on and explain whether you agree or disagree that older people are less likely to invest in a college degree (no need for new graphs) (1 pts) c) If workers face different rates of discount (interest rates) and different rate of return to schooling. Express this in graph and explain the different channels through which discrimination can work to compound earning differentials by wealth class (1.5 pts)