Suppose your expenses for this term are as follows:
tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college?
A) $5,500 B) $8,500 C) $11,500 D) $14,500
C
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Who is likely to earn a higher income, dentists or dental hygienists, and why?
a. dental hygienists because their education is less costly b. dentists because their education is less costly c. dental hygienists because their education is more costly d. dentists because their education is more costly e. neither; they usually earn the same wage rate
Money is anything that generally is accepted as a medium of exchange.
Answer the following statement true (T) or false (F)