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New PhDs in economics entering the job market find that

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New PhDs in economics entering the job market find that academic jobs (jobs teaching at colleges and universities) pay a

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New PhDs in economics entering the job market find that academic jobs (jobs teaching at colleges and universities) pay about 30 percent less than nonacademic jobs such as working at a bank or a consulting firm. Those who take academic jobs are clearly worse off than those who take nonacademic jobs. Do you agree? Explain your answer

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