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.