Higher Teacher Salaries. Advocates of higher salaries for teachers point out that most teachers have college degrees and that teaching children is an important job. a. Why aren’t teachers’ salaries...

Higher Teacher Salaries. Advocates of higher salaries for teachers point out that most teachers have college degrees and that teaching children is an important job.

a. Why aren’t teachers’ salaries higher, given the importance of the job and the education required?

b. Suppose a new law establishes a minimum teacher salary that is 20 percent higher than the prevailing salary. How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household?