Jamie and Danny Both Attend the Same College and Incur

question 60

Multiple Choice

Jamie and Danny both attend the same college and incur the same expenses for tuition, books, and school supplies. Jamie gave up a lucrative modeling job in Paris to attend school full time and Danny gave up a part-time job as a sales clerk in a department store. Which of the following statements about opportunity cost is the most accurate?

• A) The opportunity cost of attending college is likely greater for Danny than for Jamie.
• B) The opportunity cost is miniscule for both since college graduates are paid much higher than high school graduates on average.
• C) The opportunity cost of attending college is the same for both since they are enrolled at the same academic institution.
• D) The opportunity cost of attending college is likely greater for Jamie than for Danny.

Recognize the role of key figures and their contributions to the social reform movements of the nineteenth century.

Understand the concept of 'moral order' and how reformers sought to balance it with personal freedom.

Describe the effects of the temperance movement and other reform initiatives on American society.

Understand the concept of rent-seeking and its implications on society.

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Definitions:

U.S. Constitution

The foundational legal document of the United States, establishing the framework of the federal government and the rights of individuals.

Bioprospecting

Occurs when companies search in poor or indigenous areas for new biological entities that they can exploit.

Biopiracy

The practice of commercially exploiting naturally occurring genetic material or biochemical, usually by obtaining patents that restrict its future use, while failing to pay fair compensation to the community from which it originates.

Biocolonialism

Occurs when Western companies exploit indigenous areas and express a dominant–submissive relationship.