It has been observed that university enrollment in Canada is higher during periods of high unemployment. A possible explanation for this is that
◦ when prospects for getting a job are poor, the opportunity cost of doing nothing is higher.
◦ when prospects for getting a job are poor, the opportunity cost of getting a job is lower.
◦ during periods of high unemployment, tuition fees are reduced.
◦ during periods of high unemployment, the opportunity cost is no longer relevant.
◦ when prospects for getting a job are poor, the opportunity cost of going to university is lower.