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C. the choices made by people faced with scarcity<br />
D. inflation, unemployment, and economic<br />
growth<br />
Question 9 of 205.0/ 5.0 Points<br />
Suppose that your tuition to attend college is $24,000 per year and you spend $8,000 per year on<br />
room and board. If you were working full time, you could earn $30,000 per year. What is your<br />
opportunity cost of attending college for one year?<br />
A.<br />
$32,000<br />
B. $38,000<br />
C. $54,000<br />
D.<br />
$62,000<br />
Question 10 of<br />
5.0/ 5.0 Points<br />
20<br />
Suppose that you own a house. What is the opportunity cost of living in the house?<br />
A. There is no opportunity cost because you own the house.<br />
B. There is no opportunity cost unless you could set up a business in the house.<br />
C. The opportunity cost is the rent you could have received from a tenant if you didn't live<br />
there.<br />
D. The opportunity cost is the cost of your monthly mortgage payment plus bills.<br />
Question 11 of<br />
5.0/ 5.0 Points<br />
20<br />
Tradeoff is __________ .
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