The opportunity cost of going to college:
A. is zero if your parents pay your tuition.
B. is equal to the cost of tuition, room and board, and other expenses.
C. includes wages you lose by going to school instead of working.
D. is the same for all students at a particular school who pay full tuition.
Answer: C
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If GDP is $12,000 and velocity is 4, the money supply is
A) $27,000. B) $12,000. C) $4,000. D) $3,000. E) There is not enough information provided to answer this question.
An industry would be likely to lay off workers following
A. a successful attempt by an inclusive union to push wages above the marginal revenue product of labor. B. an increase in the price of the firm's product. C. the imposition of a new minimum wage below the current equilibrium wage. D. an increase in the marginal revenue product of labor.
In the last 30 years, the U.S. has become much more __________ on international trade.
Fill in the blank(s) with the appropriate word(s).
What are two “safe” or reasonable conclusions that can be drawn on about the acceleration in productivity growth?
Please provide the best answer for the statement.