For which of the following individuals would the opportunity cost of going to college be highest?
a. a promising young mathematician who will command a high salary once she earns her college degree
b. a student with average grades who has never held a job
c. a famous, highly-paid actor who wants to take time away from show business to finish college and earn a degree
d. a student who is the best player on his college basketball team, but who lacks the skills necessary to play professional basketball
c
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Refer to Figure 1A.1. The slope of the line between the points where income equals 50 and income equals 200 is
A) 0.2. B) 5. C) 10. D) 50.
The equilibrium exchange rate is 0.70 euros per dollar. At this exchange rate, the quantity demanded equals the quantity supplied and is $1.3 trillion a day. If the exchange rate is now 0.80 euros per dollar, then
A) there is a shortage of dollars and the exchange rate falls. B) there is no change. C) there is a surplus of dollars and the exchange rate falls. D) there is a surplus of dollars and the exchange rate rises. E) there is a shortage of dollars and the exchange rate rises.