The opportunity cost of going to college
A) is zero if your parents pay your tuition.
B) includes wages you lose by going to school instead of working.
C) is equal to the cost of tuition, room and board, and other expenses.
D) is the same for all students at a particular school who pay full tuition.
B
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Indicate whether the statement is true or false
What is the difference between total cost and variable cost in the long run?
What will be an ideal response?
Which of the following is not a characteristic of a perfectly competitive market structure?
A) There are a very large number of firms that are small compared to the market. B) All firms sell identical products. C) There are no restrictions to entry by new firms. D) There are restrictions on exit of firms.
Assume Company X deposits $100,000 in cash in commercial Bank A. If no excess reserves exist at the time this deposit is made and the reserve ratio is 20 percent, Bank A can increase the money supply by a maximum of:
A. $50,000. B. $180,000. C. $80,000. D. $500,000.