What Is Included in the Opportunity Cost of Going to College

question 65

Multiple Choice

What is included in the opportunity cost of going to college?

• A) both tuition and the value of the student's time
• B) tuition, but not the value of the student's time, which is a cash cost
• C) tuition, but not the value of the student's time, which is a monetary cost
• D) neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future

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Definitions:

Federal Income Tax

A tax levied by the United States federal government on the annual income of individuals, corporations, trusts, and other legal entities.

Welfare Eligibility

Welfare eligibility criteria determine who qualifies for social welfare programs, based on factors like income, family size, and employment status.

Income Distributions

The way in which a nation’s total earnings are spread among its population, which can influence economic policies and social stability.

Welfare Rolls

The lists or records of individuals who receive government assistance through welfare programs.