The Opportunity Cost of Going to College or University for Four

question 101

Multiple Choice

The opportunity cost of going to college or university for four years is

• A)the least valued alternative one forfeits to attend.
• B)the cost of tuition,residence fees and books.
• C)zero.
• D)equal to the wage rate a person will earn after graduation.
• E)the cost of tuition and books and four years of lost wages from employment.

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Definitions:

Spinal Cord

The cylindrical bundle of nerve fibers and associated tissue that is enclosed in the spine and connects nearly all parts of the body to the brain.

Vertebrae

The individual bones that form the vertebral column (spine) in vertebrates, providing structural support and protecting the spinal cord.

Spinal Column

The flexible, vertical structure composed of vertebrae that encloses the spinal cord, providing support and facilitating movement.

Slight Tension

A minimal level of stress or strain on the muscles or body, which can sometimes be beneficial for health and muscle tone.