Until the Late 19th Century, When Research Universities Were Established

question 22

Multiple Choice

Until the late 19th century, when research universities were established, the only way to obtain graduate training in the United States was through

• A)seminary training.
• B)mentorship outside of an educational institution.
• C)private institutions that offered training in various fields.
• D)apprenticeships.

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Definitions:

Future Payments

Payments that are scheduled to be made at a later date or period.

Interest Rate

The fee a lender imposes on a borrower for access to assets, denoted as a proportion of the principal sum.

Economic Profit

The difference between total revenue and total costs, including both explicit and opportunity costs.

Investment Return

The gain or loss on an investment over a specified period, usually expressed as a percentage of the investment's cost.