Question

Macroeconomics Which of the following statements is true? a. A college degree does not influence the earnings of workers. b. The median pay of economics majors increased more in dollar terms than any other majors in 2015. c. People with 0–5 years of work experience earn more than people with 10–20 years of work experience in all major fields. d. Students majoring in economics earned more than students majoring in engineering in the U.S. in 2015.

Answer 1

Answer: b. The median pay of economics majors increased more in dollar terms than any other majors in 2015.

Explanation:

Several sources have shown that Economics majors had the highest per dollar increase of all majors in 2015.

This has been put down to the need for more economists in the field as the years go by and world economics becomes more uncertain. Another key factor is the level of specialization and expertise required of economists as most entry level economists jobs require a masters at the very least.