Bill Bonecrusher Graduates from College with a Choice of Playing

question 345

Multiple Choice

Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was ________ and eight years later was ________.

• A) $50,000; $2 million
• B) $2 million; $2 million
• C) $2 million; $3 million
• D) $50,000; $50,000

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Definitions:

Geographic Boundary

The defined physical demarcation of an area, region, or territory based on natural or artificial borders.

Retail Gasoline

The sale of gasoline to consumers through service stations, reflecting the final step in the distribution of petroleum products.

Purchasing Power

The financial ability to buy products and services, which depends on income, prices, and the overall economic climate.

Social Security

A government program that provides financial assistance to people with inadequate or no income, especially the elderly, disabled, and families with children.