To an economist, the cost of a college education
A. includes the income that the student could have earned during the time spent in college.
B. can be measured solely by the dollar cost of tuition, books, and other fees.
C. includes only the cost of schooling, not the cost of housing and food.
D. excludes financial aid in computation of the cost of schooling.
E. All of these responses are correct.
Answer: A
You might also like to view...
If aggregate planned expenditures are less than real GDP, then
A) inventories increase above their planned levels and businesses increase their production. B) unplanned inventory changes equal zero. C) inventories decrease below their planned levels and businesses increase their production. D) inventories increase above their planned levels and businesses decrease their production. E) there is no equilibrium level of real GDP.
There is evidence to suggest that slaves were commonly sold and families were often separated
Indicate whether the statement is true or false
If the supply of a good is perfectly inelastic, then suppliers will bear the full burden of an excise tax
a. no matter how elastic the demand for the good is. b. only if demand is perfectly elastic. c. only if demand is perfectly inelastic. d. only if the government forbids them to raise the price of the good.
The Industrial Revolution was important to the history of economic systems because it:
A. concentrated wealth in the hands of a few noblemen who then controlled the land in their region, creating a feudal system. B. increased the wealth of merchants and artisans and eventually led to a change in economic systems to mercantilism. C. changed the way people exchanged goods-from barter to using money as a medium of exchange. D. increased the power of capitalists and eventually led to a revolution instituting capitalism as the dominant economic system.