Melinda quits her job at a bank, which pays $30,000 a year, to enroll in a two-year graduate program. Her annual school expenses are $22,000 for tuition and fees and $2,000 for books. What is her opportunity cost of attending the two-year graduate program?
$108,000
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A country's actual output ________ its potential output.
A. can only temporarily exceed B. is always be approximately equal to C. can never fall below D. can never exceed
Other things being equal, an increase in the labor force resulting from increased immigration tends to: a. increase wages
b. decrease wages. c. decrease the demand for labor. d. increase the demand for labor.
The potential total output combinations of any two goods for an economy, given the available factors of production and the available production technology that firms use to turn their inputs into outputs, is shown by a ______.
a. factor market analysis b. simple circular flow model c. production possibilities curve d. volatility coefficient
If the number of unemployed is greater than the number of employed, the unemployment rate is
A. over 100%. B. more than 50%. C. less than 50%. D. None of the choices are correct.