1. The opportunity cost of working rather than going to school IS Group of answer choices the annual wages earned by working. the higher wages that come with additional education. the cost of clothing and transportation. the cost of food and housing. zero because the person is earning an income by working 7 2. Which of the following is a positive statement? Group of answer choices On average, people save 15 percent when they switch to GEICO. Everyone ought to have a life insurance policy. Everyone should work in a bank to understand the true value of money. Winters in Arkansas are too cold. Harvard University is the top education institution in the country.

1. The opportunity cost of working rather than going to school IS Group of answer choices the annual wages earned by working. the higher wages that come with additional education. the cost of clothing and transportation. the cost of food and housing. zero because the person is earning an income by working 7 2. Which of the following is a positive statement? Group of answer choices On average, people save 15 percent when they switch to GEICO. Everyone ought to have a life insurance policy. Everyone should work in a bank to understand the true value of money. Winters in Arkansas are too cold. Harvard University is the top education institution in the country.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. The opportunity cost of working rather than going to school IS
Group of answer choices
the annual wages earned by working
the higher wages that come with additional education.
the cost of clothing and transportation.
the cost of food and housing.
zero because the person is earning an income by working.
7 2. Which of the following is a positive statement?
Group of answer choices
On average, people save 15 percent when they switch to GEICO.
Everyone ought to have a life insurance policy.
Everyone should work in a bank to understand the true value of money.
Winters in Arkansas are too cold.
Harvard University is the top education institution in the country.

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