객관식
How do economists use data in positive and normative analysis?
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0. Basic Principles of Economics
Positive and Normative Analysis
객관식
The opportunity cost of attending university is likely to include all except which of the following?
A
The value of leisure time forgone
B
Future higher earnings resulting from a university degree
C
Tuition fees paid to the university
D
Income that could have been earned from working full-time
검증된 단계별 안내1
Step 1: Understand the concept of opportunity cost. Opportunity cost refers to the value of the next best alternative foregone when making a choice. In the context of attending university, it includes all benefits you give up by choosing to study instead of doing something else.
Step 2: Identify the typical components of the opportunity cost of attending university. These usually include: (a) tuition fees paid to the university, (b) income that could have been earned from working full-time during the study period, and (c) the value of leisure time forgone because time is spent studying instead of relaxing or engaging in other activities.
Step 3: Analyze the option 'Future higher earnings resulting from a university degree.' This is not a cost but rather a potential benefit or return on investment from attending university. Therefore, it should not be included in the opportunity cost.
Step 4: Compare all options given and exclude the one that represents a benefit rather than a cost. The opportunity cost includes all costs and forgone alternatives, but not future gains.
Step 5: Conclude that the opportunity cost of attending university includes tuition fees, forgone income, and leisure time, but excludes future higher earnings resulting from the degree.
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