The opportunity cost of going to college is
a. the total spent on food, clothing, books, transportation, tuition, lodging, and other expenses.
b. the value of the best opportunity a student gives up to attend college.
c. zero for students who are fortunate enough to have all of their college expenses paid by someone else.
d. zero, since a college education will allow a student to earn a larger income after graduation.
b
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A decrease in ________ decreases the demand for money
A) the discount rate B) real GDP C) the interest rate D) the quantity of money
In the United States, a collusive agreement to restrict output and increases prices is
A) legal. B) the key tool used by oligopolists. C) illegal. D) the key tool used by monopolistic competitors.
Debt held by the public and total debt are two different concepts
a. True b. False
Trade can occur only if property rights are
A. not enforced. C. legally binding. D. not transferable.