Which of the Following Statements Is True

question 124

Multiple Choice

Which of the following statements is true?

• A)​The opportunity cost of a decision is equal to the explicit cost in monetary terms.
• B)​The opportunity cost of a decision is the value of the best foregone alternative.
• C)​Some economic decisions have zero opportunity cost.
• D)​The opportunity cost of attending college is the same for all students at the same university but may differ among students at different universities.

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Definitions:

Maslow

Referencing Abraham Maslow, a psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Belongingness Needs

A psychological state reflecting the human need to form and maintain strong, stable interpersonal relationships.

Self-Transcendence Needs

The highest level in Maslow's hierarchy of needs, referring to the pursuit of achieving one's full potential, including experiences of unity, spiritual fulfillment, and meaning in life.

Transpersonal Meaning

Pertaining to or denoting experiences that go beyond the personal self, reaching into aspects of consciousness that are expansive, spiritual, or transcendent.