The opportunity cost of going to college includes:
a. both tuition and the value of the student's time
b. tuition, but not the value of the student's time, which is a non-monetary cost.
c. neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future.
d. neither tuition nor the value of the student's time, at least at state-supported universities and colleges.
a
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In a market economy, what provides potential investors with reliable information about the financial performance of a firm?
A) contracts B) insurance C) patents D) accounting rules
Some economic historians argue that the Interstate Commerce Commission (ICC) was the first case of the "capture" of a federal regulatory commission. What does this mean?
(a) The railroads used the ICC to solve the problems of cartel management. (b) The users of the railroads—passengers and shippers—influenced the ICC to keep railroad rates high and the quality of those services high. (c) The railroads used the Commission to keep rates high and keep potential new railroads from entering the business. (d) Foreign investors high jacked the ICC to protect their railroad investrments.