NEWS WIRE: UNEQUAL WAGES Most Lucrative College Degrees College graduation does improve a person's income prospects. But all graduates aren't. treated equally: What you majored in counts for a lot. Annual salary surveys by PayScale Incorporated confirm that a student majoring in engineering can expect to earn nearly twice the salary of a philosophy major. What Does Your Major Pay? Major Electrical Engineering. Petroleum Engineering Chemical Engineering Computer Science Median Starting. Salary $ 101,200 Nursing Math Economics Astronomy Finance Political Science Philosophy Nutrition English Education Theatre Social Work 92,300 74,500 70,700 61,700 59,600 58,200 54,800 53,400 52,200 48,700 45,000 43,600 41,800 39,700 36,600 Source: "College Salary Report. PayScale, 2020, www.payscale.com. Assuming that a college graduate on average earns her MRP, what is the MRP for a newly hired Economics major in 2020?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Refer to the News Wire to answer one question.
NEWS WIRE: UNEQUAL WAGES
Most Lucrative College Degrees
College graduation does improve a person's income prospects. But all graduates aren't
treated equally: What you majored in counts for a lot. Annual salary surveys by
PayScale Incorporated confirm that a student majoring in engineering can expect to
earn nearly twice the salary of a philosophy major.
What Does Your Major Pay?
Major
Electrical Engineering
Petroleum Engineering.
Chemical Engineering
Computer Science
Nursing
Math
Economics
Astronomy
Finance
Political Science
Philosophy
Nutrition
English
Education
Theatre
Social Work
Median Starting
Salary
$ 101,200
92,300
74,500
70,700
61,700
59,600
58,200
54,800
53,400
52,200
48,700
45,000
43,600
41,800
39,700
36,600
Source: "College Salary Report, PayScale, 2020, www.payscale.com.
Assuming that a college graduate on average earns her MRP, what is the MRP for a newly hired
Economics major in 2020?
Instructions: Enter your response as a whole number.
Transcribed Image Text:Refer to the News Wire to answer one question. NEWS WIRE: UNEQUAL WAGES Most Lucrative College Degrees College graduation does improve a person's income prospects. But all graduates aren't treated equally: What you majored in counts for a lot. Annual salary surveys by PayScale Incorporated confirm that a student majoring in engineering can expect to earn nearly twice the salary of a philosophy major. What Does Your Major Pay? Major Electrical Engineering Petroleum Engineering. Chemical Engineering Computer Science Nursing Math Economics Astronomy Finance Political Science Philosophy Nutrition English Education Theatre Social Work Median Starting Salary $ 101,200 92,300 74,500 70,700 61,700 59,600 58,200 54,800 53,400 52,200 48,700 45,000 43,600 41,800 39,700 36,600 Source: "College Salary Report, PayScale, 2020, www.payscale.com. Assuming that a college graduate on average earns her MRP, what is the MRP for a newly hired Economics major in 2020? Instructions: Enter your response as a whole number.
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