Why might it be a good economic decision for a person such as Oprah Winfrey or Mark Zuckerberg to drop out of college? Give an economic justification for such a decision
Please provide the best answer for the statement.
The economic decision should be based on weighing the costs of going to college with the expected benefit of doing something else with the time. If the opportunity costs of going to college are high because there is a better alternative that would yield more expected benefits, then it would make sense to drop out of college. This situation was true for both Oprah Winfrey and Mark Zuckerberg. Both had compelling alternatives in entertainment and business outside of college that were likely to produce much greater lifetime earnings and benefits. Staying in college would mean that these potential benefits would be lost.
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The value of a country's exports is listed in its balance of payments account as a(n)
a. credit b. debit c. payment d. investment e. unilateral transfer
Arrow's impossibility theorem tells us:
A. political pressures will always corrupt a voting system, making none ideal. B. no voting system can aggregate the preferences of voters of three or more options while meeting all of the criteria for an ideal system. C. most voting systems meet the criteria for an ideal system, yet politicians cannot seem to change the way in which elections are held. D. no voting system can ever attain all four criteria for an ideal voting system.
The first major international trade agreement following World War II was the North American Free Trade Agreement (NAFTA).
Answer the following statement true (T) or false (F)
In the above figure, at an output level of Q1, total variable cost is
A. OD times Q2. B. OF minus DF. C. OF. D. OF times Q1.