Tom is going to quit his job to pursue his PhD in economics, which will take him 6 years to complete. He currently makes $55,000 per year as a high school teacher
While going to school, he will receive a stipend of $24,000 per year plus $6,000 per year to help cover food and rent. His living expenses are the same regardless of what he does. What is Tom's opportunity cost of pursuing his PhD? A) $150,000
B) $180,000
C) $186,000
D) $330,000
D
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The amount of consumption in an economy correlates
A. directly with the level of saving. B. directly with the level of disposable income. C. directly with the rate of interest. D. inversely with the level of disposable income.
In the textbook model of endogenous growth, long-run output growth would increase if there were either a ________ in the saving rate or a ________ in the depreciation rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The mission, vision, and values provide the foundation for the strategic planning process.
a. true b. false
Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending.
A. is authorized by Congress on an annual basis B. has been authorized by prior law C. is authorized only in times of budget surpluses D. is authorized only in times of budget deficits