The degree to which an asset can be acquired or disposed of without much danger of any intervening loss in nominal value is known as

If the equilibrium wage is $4 per hour and the minimum wage is $5.15 per hour, then a shortage of labor will exist

a. True b. False Indicate whether the statement is true or false

If Faith attends college, it will take her four years, during which time she will earn no income. She will pay $50,000 for tuition, $12,000 for room and board, and $5,000 for books. If she spends the four years working rather than attending college, she will pay $18,000 for room and board, pay no intuition, and buy no books. Based on this information, Faith's economic cost of attending college

would be $67,000 if, over the four years, she could earn a. $12,000 instead of attending college. b. $14,000 instead of attending college. c. $16,000 instead of attending college. d. $18,000 instead of attending college.