The American political class has long held that higher education is vital to individual and national success. The Obama administration has labeled college as "the ticket to the middle class", and political leaders all have praised higher education as the best way to improve economic opportunity.       Yet despite such advice, total college enrollment   has fallen by 1.5% since 2012. What's causing the decline? While a shortage of birth in the mid-1990s accounts for some of the shift, big foreign enrollment makes up for that lack. The answer is simple: The benefits of a degree are declining while costs rise.      A key measure of the benefits of a degree is the college graduate's earning potential and on this score, their advantage over high-school graduates is fading. Since 2006, the gap between what the median college graduate earned, compared with the median high-school graduate, has narrowed by $1,387 for men over 25 working full time, a 5% fall, women in the same category worse, losing 7% of their income advantage. A college degree's declining value is even more noticeable for younger Americans. According to data collected by the College Board, for those in the 25-34 age range the difference between college graduate and high school graduate earnings fell 11% for men, to $18,303 from $20,623. The decline for women was an extraordinary 19.7%.      Meanwhile, the cost of college has increased 16.5% in 2012 since 2006, according to the Office of Labor Statistics' higher education tuition-fee index. Tuition discount from universities has slowed down the rise, but not enough to balance the clear increase adjusted to the inflation  .       Underemployment has arisen with this situation. The 2013 College Affordability and Productivity Report showed explosive growth in the number of college graduates taking  ly unskilled jobs. In 1970 less than 1% of taxi drivers had college degrees. Four decades later, more than 15% do. This is only partly the result of the economic depression and public policies that have failed to produce employment growth. It's also the result of an academic arms race in which universities have spent large sums on elegant dormitories and campus expansion. More significantly, it's the result of sending more high-school graduates to college than professional fields can accommodate.       In 1970, when 11% of adult Americans had bachelor's degrees or more, degree holders were viewed as the nation's best and brightest. Today, with over 30% with degrees, a significant part of college graduates are similar to the average American --- not apparently smarter or more well-organized. Declining academic standards and grade inflation add to employers' opinions that college degrees say little about job readiness. Underemployment occurs mainly because   _  .
more graduates tend to take unskilled jobs academic competition among universities is acute today graduates are not qualified for skilled work colleges are producing more graduates than needed
Question: The American political class has long held that higher education is vital to individual and national success. The Obama administration has labeled college as "the ticket to the middle class", and political leaders all have praised higher education as the best way to improve economic opportunity.       Yet despite such advice, total college enrollment   has fallen by 1.5% since 2012. What's causing the decline? While a shortage of birth in the mid-1990s accounts for some of the shift, big foreign enrollment makes up for that lack. The answer is simple: The benefits of a degree are declining while costs rise.      A key measure of the benefits of a degree is the college graduate's earning potential and on this score, their advantage over high-school graduates is fading. Since 2006, the gap between what the median college graduate earned, compared with the median high-school graduate, has narrowed by $1,387 for men over 25 working full time, a 5% fall, women in the same category worse, losing 7% of their income advantage. A college degree's declining value is even more noticeable for younger Americans. According to data collected by the College Board, for those in the 25-34 age range the difference between college graduate and high school graduate earnings fell 11% for men, to $18,303 from $20,623. The decline for women was an extraordinary 19.7%.      Meanwhile, the cost of college has increased 16.5% in 2012 since 2006, according to the Office of Labor Statistics' higher education tuition-fee index. Tuition discount from universities has slowed down the rise, but not enough to balance the clear increase adjusted to the inflation  .       Underemployment has arisen with this situation. The 2013 College Affordability and Productivity Report showed explosive growth in the number of college graduates taking  ly unskilled jobs. In 1970 less than 1% of taxi drivers had college degrees. Four decades later, more than 15% do. This is only partly the result of the economic depression and public policies that have failed to produce employment growth. It's also the result of an academic arms race in which universities have spent large sums on elegant dormitories and campus expansion. More significantly, it's the result of sending more high-school graduates to college than professional fields can accommodate.       In 1970, when 11% of adult Americans had bachelor's degrees or more, degree holders were viewed as the nation's best and brightest. Today, with over 30% with degrees, a significant part of college graduates are similar to the average American --- not apparently smarter or more well-organized. Declining academic standards and grade inflation add to employers' opinions that college degrees say little about job readiness. Underemployment occurs mainly because   _  .
A. more graduates tend to take unskilled jobs
B. academic competition among universities is acute
C. today graduates are not qualified for skilled work
D. colleges are producing more graduates than needed
Answer: