According to the signaling theory in higher education, what role does obtaining a degree serve for students in the job market?

1
It primarily increases students' knowledge and skills applicable to all job types.
2
It acts as a signal to employers about the students' ability to complete tasks and conform to social norms.
3
It guarantees higher salaries compared to non-graduates in all fields.
4
It reduces the value of practical experience in most professions.

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