Quiz_ Higher Education Expenditures_ EDUC664_ Economics and Finance of Higher Education (B02)

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2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 1/7 Skip to Main Content Quiz: Higher Education Expenditures Due Feb 18 at 11:59pm Points 75 Questions 15 Time Limit 60 Minutes Instructions Attempt History Attempt Time Score LATEST Attempt 1 29 minutes 75 out of 75  Correct answers are hidden. Score for this quiz: 75 out of 75 Submitted Feb 12 at 11:05am This attempt took 29 minutes. The quiz: Covers the Learn material from Module 5: Week 5 . Contains 15 multiple-choice, true/false, and multiple-answer questions. Is limited to 1 hour . Allows 1 attempt . Is worth 75 points . Begin this quiz only when you are prepared to complete it. You may refer to your notes and textbooks at any time during the assessment. Submit this assignment by 11:59 p.m. (ET) on Sunday of Module 5: Week 5. 5 / 5 pts Question 1 Which term best represents the student’s (buyer’s) perspective on the ±nancial transaction of a college education? Online Residential Athletics Sign In Request Info Apply Now Visit Us Create Guest Account

2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 2/7 Price Cost Discount Interest 5 / 5 pts Question 2 Which statement is accurate? The cost for a public university to produce education is greater than that of a private university. The cost for a public university to produce education is less than that of a private university. The cost for a private, for-pro±t university to produce education is greater than that of a private, not-for-pro±t university. 5 / 5 pts Question 3 The best way to adjust for in²ation at postsecondary institutions is to use which measure? 30-Year Interest Rate

2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 3/7 Higher Education Cost Adjustment Consumer Cost Index Producer Price Index 5 / 5 pts Question 4 Based on analysis of institutional revenues and expenditures from the last 1980s to the late 1990s, which of the following results are true? Across all types of private, not-for-pro±t institutions, tuition increased annually. In-state tuition at public universities declined steadily. State appropriations decreased relative to other revenue sources for public four-year institutions. Increasing government support enabled most institutions to lower tuition and fees. 5 / 5 pts Question 5 According to the Delaware Cost Study, which of the following are the greatest factors leading to cost variation within a discipline? Student credit hours

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2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 4/7 Number of faculty Proportion of faculty holding tenure Value of academic facilities 5 / 5 pts Question 6 According to analysis from the Delaware Cost Study, the single most important factor explaining differences in costs at four-year institutions is total enrollment. True False 5 / 5 pts Question 7 Which of the following is not a higher education quality actor? US News & World Report US State Department Petersons The Princeton Review 5 / 5 pts Question 8

2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 5/7 Examples of funding for future growth include the following: Enrollment growth expenses Textbook buy-back program Salary increases 5 / 5 pts Question 9 Higher education is a service that cannot truly be evaluated for its quality until it is experienced by the consumer (student). True False 5 / 5 pts Question 10 According to the textbook, price changes are experienced by which entity? Producers Consumers Sellers

2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 6/7 5 / 5 pts Question 11 According to the textbook, after adjusting for in²ation, educational cost at public research universities has remained constant in real terms per full-time equivalent student. True False 5 / 5 pts Question 12 Costs do not differ between private for-pro±t and private not-for- pro±t institutions. True False 5 / 5 pts Question 13 The high cost of construction on a university campus is not necessarily one speci±c item but the total accumulation of many different aspects and details. True False

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2/12/24, 11:05 AM Quiz: Higher Education Expenditures: EDUC664: Economics and Finance of Higher Education (B02) https://canvas.liberty.edu/courses/584535/quizzes/2721807 7/7 5 / 5 pts Question 14 According to the textbook, some of the common errors in budget development include which of the following? Failing to consider stakeholder needs Not planning for budget forecasts beyond the next ±scal year Failing to prepare for local events that cause increased tra³c around campus Communicating budget information with only a select few people 5 / 5 pts Question 15 Select the various factors that relate to the cost of campus construction projects Complexity of the facility Codes, regulations, and standards Institutional and statutory requirements Faculty and staff salaries Quiz Score: 75 out of 75

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