Susan is trying to decide whether to quit her $20,000 per year job so she can return to college next year. If she goes to college next year, her books and supplies will cost $500, tuition will cost $3,000, and her other expenses (transportation, housing, and food) will increase by $2,000. What is Susan's opportunity cost of attending college next year? Select one:
a. $3,000
b. $3,500
c. $5,500
d. $25,500
d. $25,500
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Fiscal policy would be more effective if
A. potential income was unknown. B. the government could change taxes and expenditures rapidly. C. the size of the government debt didn't matter. D. crowding out occurred more often.
A cartel is a collusive agreement among a number of firms that is designed to
A) expand output and lower prices but not to a predatory level. B) restrict output and lower prices to a predatory level. C) restrict output and raise prices. D) expand output and raise prices. E) expand output and lower prices to a predatory level.
From a business perspective, economic historians believe that:
a. slavery was profitable and viable. b. slavery would have eventually ended due to its inherent unprofitability. c. slavery was economically inefficient. d. free labor was more productive than slave labor.
If you put $1,000 in a savings account at an interest rate of 10 percent, how much money will you have in one year?
A. $909 B. $950 C. $1,200 D. $1,100