Calculate the Opportunity Cost of One Extra Year of College

question 52

Multiple Choice

Calculate the opportunity cost of one extra year of college if tuition,room and board fees,and spending money is $19,000,and the estimated salary upon graduation is $38,000.

• A) $57,000
• B) $19,000
• C) $38,000
• D) $29,000

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Definitions:

Birth Rates

The number of live births per thousand of the population per year.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, marked by significant technological advancements and changes in manufacturing processes.

Early Years

The initial stages or period of existence of a person, organization, or phenomenon.