The Salary That Is Sacrificed by a College Student Who

question 9

Multiple Choice

The salary that is sacrificed by a college student who pursues a degree full time is a(n) :

• A) sunk cost.
• B) out-of-pocket cost.
• C) opportunity cost.
• D) differential cost.
• E) marginal cost.

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Definitions:

Losses

Financial outcomes where expenses exceed revenues, resulting in negative profit for a business or individual.

Gains

The increase in wealth or resources, often measured as the difference between the sale price and the purchase price of an asset.

Behavioral Economists

Scholars who study the impact of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions.

Weight on the Future

This key-term may refer to the emphasis or consideration given to future outcomes or consequences in decision-making processes.