If Your Tuition Is $2,000 This Semester, Your Books Cost

question 8

Multiple Choice

If your tuition is $2,000 this semester, your books cost $400, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes and you make $12 per hour, and your room and board is $4,000 this semester (same as if not attending college) , then your opportunity cost of attending college this semester is

• A) $2,400.
• B) $2,760.
• C) $7,800.
• D) $11,800.

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Definitions:

Familiarity Effect

A psychological phenomenon whereby people tend to develop a preference for things merely because they are familiar with them.

Cognitive Dissonance

The state of having inconsistent thoughts, beliefs, or attitudes, especially as relating to behavioral decisions and attitude change.

Groupthink

A psychological phenomenon where the cohesion of the group becomes more important than considering facts realistically, leading to poor decisions.

Suppress Disagreement

The act of deliberately preventing or reducing the expression of differing opinions or conflicts.