(Consider This) A direct cost of going to college is:
A. tuition, while an indirect cost (opportunity cost) is books and other supplies.
B. forgone income while in college, while an indirect cost (opportunity cost) is tuition.
C. tuition, while an indirect cost (opportunity cost) is forgone income while in college.
D. books and supplies, while an indirect cost (opportunity cost) is food and housing.
Answer: C
You might also like to view...
Which of the following goods is rival in consumption and is also excludable?
A) A fireworks display B) A movie shown on cable television C) A DVD D) A magic show in a public park.
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. If the price of Kona coffee falls from $6 to $4, the market quantity demanded would
A) decrease by 89 lbs. B) increase by 110 lbs. C) increase by 61 lbs. D) increase by 26 lbs.
Which of the following is a problem with using real GDP as a measure of economic well-being? a. It does not account for inflation
b. It does not account for production within the household. c. It does not account for production by foreign firms producing inside the U.S. d. all of the above
United States Steel had its antitrust case dismissed on the grounds that it had shown no evidence of unreasonable conduct, despite controlling 60 percent of the steel market.
Answer the following statement true (T) or false (F)