After graduating from high school, Steve had the following three choices for his immediate future, listed in order of preference: (1) attend our campus, (2) work in a printed circuit board factory, or (3) attend a rival college. His opportunity cost of going to college here includes which of the following?
a. The cost of books and supplies at the rival college
b. The income he could have earned at the printed circuit board factory plus the direct cost of attending college here (tuition, textbooks, etc.)
c. The benefits he could have received from going to the rival college
d. Only the tuition and fees paid for taking classes here
e. Cannot be determined from the information given
B
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It has become largely accepted since the end of the Bretton Woods agreement that: a. the gold standard was superior to anything that has come along since
b. governments have no role whatsoever in determining exchange rates. c. it is not necessary for governments to fix exchange rates for long periods of time. d. floating rates simply have not worked.
Unlike the Bank of Canada, the Bank of France, the Bank of England, and other central banks in democratic market economies, the Federal Reserve System is owned by the government
Indicate whether the statement is true or false