Suppose Your Expenses for This Term Are as Follows: Tuition

question 96

Multiple Choice

Suppose your expenses for this term are as follows: tuition: $5,000,room and board: $3,000,books and other educational supplies: $500.Further,during the term,you can only work part-time and earn $4,000 instead of your full-time salary of $10,000.What is the opportunity cost of going to college this term,assuming that your room and board expenses would be the same even if you did not go to college?

• A)$5,500
• B)$8,500
• C)$11,500
• D)$14,500

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Definitions:

Hampton Institute

Now known as Hampton University, it is a historically Black university located in Hampton, Virginia, established in 1868 to educate freed slaves.

Jack Johnson

The first African-American world heavyweight boxing champion, holding the title from 1908 to 1915, known for breaking color barriers in the sport.

Race Riots

Historical incidents of violent civil unrest and conflict that predominantly stem from racial tension and conflicts between racial or ethnic groups.

Jim Crow Laws

A series of state and local laws in the United States that enforced racial segregation and discrimination against African Americans, especially in the South, from the late 19th century into the 1960s.