Question :
51.Formoststudents,theearningstheygiveuptoattendcollegeare
a.aminorcostwhencomparedtothecostsoftuition,roomandboard,andthelike.
b.thesinglelargestcostoftheireducation.
c.abo : 1261372
51.Formoststudents,theearningstheygiveuptoattendcollegeare
a.aminorcostwhencomparedtothecostsoftuition,roomandboard,andthelike.
b.thesinglelargestcostoftheireducation.
c.aboutequaltothecostsofroomandboardatcollege.
d.notconsideredtruecostsbyaneconomist.
52.Theopportunitycostofgoingtocollegeis
a.thetotalspentonfood,clothing,books,transportation,tuition,lodging,andotherexpenses.
b.thevalueofthebestopportunityastudentgivesuptoattendcollege.
c.zeroforstudentswhoarefortunateenoughtohavealloftheircollegeexpensespaidbysomeoneelse.
d.zero,sinceacollegeeducationwillallowastudenttoearnalargerincomeaftergraduation.
53.Whichofthe followingisnotanexampleoftheopportunitycostofgoingtoschool?
a.Themoneyastudentcouldhaveearnedbyworkingifhehadnotgonetocollege.
b.Thenapastudentcouldhaveenjoyedifhehadnotattendedclass.
c.Thepartyastudentcouldhaveenjoyedifhehadnotstayedintostudyforhisexam.
d.Themoneyastudentspendsonrentforhisapartmentwhileattendingschool.
54.Foracollegestudentwhowishestocalculatethetruecostsofgoingtocollege,thecostsofroomandboard
a.shouldbecountedinfull,regardlessofthecostsofeatingandsleepingelsewhere.
b.shouldbecountedonlytotheextentthattheyaremoreexpensiveatcollegethanelsewhere.
c.usuallyexceedtheopportunitycostofgoingtocollege.
d.plusthecostoftuition,equalstheopportunitycostofgoingtocollege.
55.Whenyoucalculateyourtruecostsofgoingtocollege,whatportionofyourroom-and-boardexpensesshouldbeincluded?
a.Yourfullroom-and-boardexpensesshouldalwaysbeincluded.
b.Noneofyourroom-and-boardexpensesshouldeverbeincluded.
c.Youshouldincludeonlytheamountbywhichyourroom-and-boardexpensesexceedtheincomeyouearnwhileattendingcollege.
d.Youshouldincludeonlytheamountbywhichyourroom-and-boardexpensesexceedtheexpensesforrentandfoodifyouwerenotincollege.
56.ConsiderFrank’sdecisiontogotocollege.Ifhegoestocollege,hewillspend$21,000ontuition,$11,000onroomandboard,and$1,800onbooks.Ifhedoesnotgotocollege,hewillearn$16,000workinginastoreandspend$7,200onroomandboard.Frank’scostofgoingtocollegeis
a.$33,800.
b.$42,600.
c.$49,800.
d.$57,000.
57.Supposeaftergraduatingfromcollegeyougetajobworkingatabankearning$30,000peryear.Aftertwoyearsofworkingatthebankearningthesamesalary,youhaveanopportunitytoenrollinaone-yeargraduateprogramthatwouldrequireyoutoquityourjobatthebank.Whichofthefollowingshouldnotbeincludedinacalculationofyouropportunitycost?
a.thecostoftuitionandbookstoattendthegraduateprogram
b.the$30,000salarythatyoucouldhaveearnedifyouretainedyourjobatthebank
c.the$45,000salarythatyouwillbeabletoearnafterhavingcompletedyourgraduateprogram
d.thevalueofinsurancecoverageandotheremployeebenefitsyouwouldhavereceivedifyouretainedyourjobatthebank
58.Forwhichofthefollowingindividualswouldtheopportunitycostofgoingtocollegebehighest?
a.apromisingyoungmathematicianwhowillcommandahighsalaryoncesheearnshercollegedegree
b.astudentwithaveragegradeswhohasneverheldajob
c.afamous,highly-paidactorwhowantstotaketimeawayfromshowbusinesstofinishcollegeandearnadegree
d.astudentwhoisthebestplayeronhiscollegebasketballteam,butwholackstheskillsnecessarytoplayprofessionalbasketball
59.ConsiderMandy’sdecisiontogotocollege.Ifshegoestocollege,shewillspend$20,000ontuition,$10,000onroomandboard,and$2,000onbooks.Ifshedoesnotgotocollege,shewillearn$18,000workinginastoreandspend$8,000onroomandboard.Mandy’scostofgoingtocollegeis
a.$32,000.
b.$42,000.
c.$50,000.
d.$58,000.
60.ConsiderNoah’sdecisiontogotocollege.Ifhegoestocollege,hewillspend$80,000ontuition,$15,000onroomandboard,and$4,000onbooks.Ifhedoesnotgotocollege,hewillearn$22,000workinginastoreandhewillspend$13,000onroomandboard.Noah’scostofgoingtocollegeis
a.$99,000.
b.$103,000.
c.$108,000.
d.$121,000.