Tracy Quits Her Job, Which Pays $25,000 a Year, to Finish

question 155

Short Answer

Tracy quits her job, which pays $25,000 a year, to finish her college degree. Her annual college expenses are $12,000 for tuition and fees and $1,000 for books. What is her opportunity cost of attending college for the year?

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Definitions:

Personality Traits

Enduring patterns of thought, feeling, motivation, and behavior that are expressed in different circumstances.

Impulsive

Acting on or inclined to act on sudden urges or desires without considering consequences.

Depression

A common and serious mood disorder that affects how one feels, thinks, and handles daily activities, characterized by persistent feelings of sadness and loss of interest.

Western Cultures

Refers to societies primarily located in the Western hemisphere, characterized by democratic values, individualism, and a historical influence from European traditions.