In the Context of a Person Choosing Whether to Attend

question 72

Multiple Choice

In the context of a person choosing whether to attend college or go to work, which of the following best describes the expenses associated with room and board?  

• A) Room and board is an opportunity cost of attending college because it is subsidized by the government or by the college. 
• B) Room and board is an opportunity cost of attending college because it involves cash expenditures. 
• C) Room and board is NOT an opportunity cost of attending college if the student is on a scholarship. 
• D) Room and board is NOT usually part of the opportunity cost of attending college because a person requires a place to live and food to eat whether or NOT attending college.

Analyze the impact of benefit plan design and funding on organizational cost and liability.

Understand the role of indirect pay in attracting and retaining employees.

Evaluate the tax implications and administrative processes of benefit plans.

Understand the differences in benefits between full-time and part-time employees and the legal requirements affecting them.

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Definitions:

Coral Reefs

Underwater ecosystems characterized by reef-building corals, which are colonies of tiny living animals found in marine waters that contain few nutrients.

Biological Indicators

Organisms or components of organisms that are used to assess the health of a natural ecosystem or the presence of pollutants.

Bathyal Zone

A region of the ocean depths ranging from 200 to 2,000 meters below the surface, characterized by its limited light penetration and distinct marine life.

Phytoplankton

Microscopic plant-like organisms that live in aquatic environments, capable of photosynthesis, and form the base of the oceanic food chain.