Which Person Has the Highest Opportunity Cost of Obtaining a College

question 174

Multiple Choice

Which person has the highest opportunity cost of obtaining a college degree (assuming that attending college requires giving up his or her current position) ?

• A)Bill, who is unemployed.
• B)Jane, who is an unwed mother and earns $15,000 a year.
• C)Larry, who is a technician in the Navy earning $18,000 a year with free food and housing.
• D)Mary, who has a job earning $60,000 a year as a computer programmer.
• E)Unable to determine from the data given.

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Definitions:

Capital Account

The section of a nation’s international balance of payments statement in which the foreign purchases of that nation’s assets and that nation’s purchases of assets abroad are recorded.

Balance

This term can refer to the difference between total debits and total credits in an account, or to achieving a state of equilibrium in various contexts such as financial planning, work-life balance, etc.

Payments

Payments are the transfers of money or the consideration of goods or services from one individual or entity to another.

Gold Standard

A historical system of fixed exchange rates in which nations defined their currency in terms of gold, maintained a fixed relationship between their stock of gold and their money supplies, and allowed gold to be freely exported and imported.