Q. 1. Does the Mincer model take unequal access to education into account? Discuss the shortfalls of this model in that it does not take into account unequal access to education resulting in racial/ethnic stratification in educational attainment.
2. Suggest how the Mincer model can be modified to address the role played by unequal access to education as a possible source of differential educational achievement
3. How would equal educational achievement and equal income (use Caucasian Americans as benchmark) for everyone increase overall national income, as defined by sum total of annual labor market income of all civilian labor force participants?