The opportunity cost of attending college is
A) the money one spends on college tuition, books, and so forth.
B) the highest valued alternative one forfeits to attend college.
C) the least valued alternative one forfeits to attend college.
D) equal to the salary one will earn when one graduates from college.
B
You might also like to view...
Which of the following are examples of involuntary risks?
a. skydiving d. (b) and (c) only b. mountain climbing e. none of the above c. being exposed to secondhand smoke
Predatory dumping by foreign firms is a very common phenomenon in U.S. markets
Indicate whether the statement is true or false
In the long run,
a. large government budget deficits cause productivity to increase, thereby leading to inflation b. large government budget deficits drive down interest rates and reduce investment spending c. large government budget surpluses mean reductions in the money supply d. changes in the government budget deficit have no effect on the capital stock e. large government budget deficits drive up interest rates and reduce investment spending
Refer to the above graph. The short-run aggregate supply curve would be represented by which line?
A. 1 B. 2 C. 3 D. 4