After You Graduate, You Have Decided to Accept a Position

question 319

Multiple Choice

After you graduate, you have decided to accept a position working at the Bureau of Labor Statistics for $45,000.00 a year. The two other offers you received were working for Wal-Mart for $38,000 and working for Ernst and Young consulting for $42,000. Of these two offers, you would have preferred the job at Ernst and Young. What is the opportunity cost of accepting the position at the Bureau of Labor Statistics?

• A) the $45,000 you are paid for working at the Bureau of Labor Statistics
• B) the $42,000 you would have been paid working for Ernst and Young
• C) the $38,000 you would have been paid working for Wal-Mart
• D) the $42,000 you would have been paid working for Ernst and Young and the $38,000 you would have been paid working for Wal-Mart

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Definitions:

Sample Size

The number of observations or data points collected in a statistical study.

Defective Items

Products that fail to meet quality standards.

Own a Car

Refers to the possession or ownership of an automobile by individuals or households.

Standard Deviation

A metric that quantifies how spread out a dataset is around its average, determined by taking the square root of the variance.