The opportunity cost of a college education does not include any income that is foregone while enrolled in school, since this is not measured using monetary costs.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Refer to Table 2-9. What is Thailand's opportunity cost of producing one pound of rice?
A) 60 wristwatches B) 20 wristwatches C) 5 wristwatches D) 0.05 units of a wristwatch
A sustained decrease in the price level is known as
A) inflation. B) disinflation. C) reflation. D) deflation.
The classical quantity theory of money is based on
A. exchange rate theory. B. Say's law. C. the equation of exchange. D. Keynesian theory.
The graph above shows the PPC for a country that can produce oil or televisions. The straight line is the trade line and CPC if production is at Point A. Which of the following is a true statement?
A) This country should produce relatively more oil and relatively fewer televisions. B) This country should produce relatively more televisions and relatively less oil. C) This country should produce more of both goods. D) This country is producing the optimal mix of oil and televisions to maximize its income.